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Welcome back everyone. In the sixth and final part of my blog series, I want to discuss something that affects all of our financial journeys: Superannuation. Perhaps you’re concerned about your retirement savings? Or maybe uncertain about how to make the most .....
Investments - 8 min read
When markets drop substantially, some people back away from investing. But as seasoned investors know, these can prove to be precisely the times to jump in and buy.
However, as Warren Buffet famously said, it's important never to test the water with both feet. And self-education is one of the best ways to dip a toe in with more confidence.
Start with one of these top books on investing. From classics like Benjamin Graham’s 1949 hit The Intelligent Investor to recent bestsellers like Tony Robbins’ Unshakeable. Let’s get to it!
Daniel Kahneman
Farrar, Straus and Giroux, 2011
The author’s credentials speak for themselves. Kahneman teaches Psychology at Princeton University and won the Nobel Prize in Economic Sciences.
With plenty of case studies and everyday examples, Thinking, Fast and Slow explores how your thought processes can impact your success in investing. We all harbour our own biases, even if we don’t realise they affect our decisions. Daniel Kahneman helps readers to recognise their biases and lock them away to improve investment decisions. Although the book focuses on investing, it also explores how biases affect our everyday lives in other ways as well.
Brandon Turner
Bigger Pockets, 2015
If you’re looking for a practical, how-to book about property investing, start here. Turner provides a bevvy of trade tips that help beginners and experts alike.
The author focuses on the goal of building wealth through investing in real estate, and he includes actionable ideas for financing, improving cash flow, finding incredible deals and reducing taxes. You’ll also appreciate the cautionary advice that can prevent rookie mistakes. However, keep in mind that this book contains some advice specific to the US market and tax law.
Benjamin Graham
Harper Business, 2006
The Intelligent Investor first appeared in 1949. You might think that a book published so long ago wouldn’t resonate with today’s readers, but that couldn’t be farther from the truth. This now-classic book has impacted generations of investors and is regarded as the bible of value investing. Many of today’s top hedge fund investors, including Seth Klarman and Joel Greenblatt, use the book’s precepts as guiding stars.
Benjamin Graham himself revised the book four times (he wrote his last revision for the 1971 edition). In 2003, Wall Street Journal columnist Jason Zweig updated the book with new commentary and footnotes.
Howard Marks
Houghton Mifflin Harcourt, 2018
In 1990, Howard Marks started sending memos to his investors. They were so legendary that they were compiled and published as a book, The Most Important Thing Illuminated.
This book, Mastering the Market Cycle, illuminates one of his “most important things.” It explains how to study market cycles and spot the next trend. The topic is complicated, but Marks turns it into readable and easy-to-understand financial writing.
Tony Robbins With Peter Mallouk
Simon & Schuster, 2017
When asked about the goal for this book, Robbins said he wanted to write something people could read in a weekend to prepare themselves for the next bear market.
This conversational book features interviews with some of today’s most successful investors. His co-author Peter Mallouk, President and Chief Investment Officer at Creative Planning, provides a valuable appendix on estate planning. A big-picture look at your financial life will help you to fine-tune your goals as you invest.
Robert Kiyosaki
Time Warner Books, 1997
As of this writing, Rich Dad, Poor Dad is the #1 best-selling investing book on Amazon. But don’t expect it to move off the charts very soon. It’s been a perennial bestseller since its publication in 1997.
Why do would-be investors continue to read this book? It offers a big-picture mindset that can change the way you look at money. Kiyosaki compares the financial habits of two important men in his life. He calls one Rich Dad and the other Poor Dad. Both work hard, but one of them figures out how to make his money work for him. This is a quick read, but its impact can be huge.
Dave Ramsey
Thomas Nelson, 2013
If you feel that you never have enough money left over for investing, this book is a good starting place. Dave Ramsey helps you to set your financial life in order and build a solid foundation on which to start investing.
Ramsey offers simple, seven straightforward steps you can take to whip your finances in order. He’ll help you get out of debt and then set you on the path to financial freedom. It’s an easy-to-read book, and you’ll probably relate to some of the stories the author tells.
J L Collins
CreateSpace, 2016
Perfect for new investors, The Simple Path to Wealth focuses on the indexing strategy for building wealth.
Collins recommends thinking long-term, living below your means, planning ahead with a fully diversified portfolio, and investing in low-cost funds. If you enjoy the book, you might want to check out the author’s blog and podcast where he tackles the kinds of questions we all think about, including, “A Guided Meditation for When the Stock Market Is Dropping.”
Peter Lynch
Simon Schuster, 2000
Are you wondering which companies are worthy of your investment dollars? Peter Lynch teaches readers how to sort through companies’ financial statements to sort out the winners and the losers.
Reading One Up on Wall Street will help you gain a well-rounded understanding of the market. It also offers helpful tips on selecting the most advantageous portfolio of securities. It can also be ready as an engaging history or biography.
Philip A. Fisher
Wiley, 1957
One of the most influential investors of all time, Philip Fisher wrote this book more than 40 years ago (1957), but people from all walks of life still find value in it today. Fisher’s investment philosophies are regarded as gospel by some.
Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced over sixty years ago, are not only studied and applied by today’s financiers and investors but are also regarded by many as gospel.
If you want to understand what makes a company great, this is the book for you. Fisher divides the book into three parts: common stocks, conservative investments, and the development of your personal investment philosophy. In these sections, the author emphasises what to look for in growth stocks, traits of profitable businesses, and how his experiences in the stock market shaped his philosophy.
Off you go! With a background in these timeless investing books, you’ll be ready to start building your wealth. Happy reading!
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