Books can be an extremely powerful tool for learning, but sometimes it can be difficult to find the right books to buy, because some books are straight up misguiding and do not deliver the quality we want, but some books give us that knowledge we need to take our game to the next level. In this case I have listed below the top 5 books that will take your investing game to a whole different level.
5) The Psychology of money – By Morgan Housel.
To start the article, we have The Psychology of money by Morgan Housel.
This book might seem a little controversial, but it is Definitely needed for building the backbone of an excellent investor. The book goes through the psychology of money, and it goes in depth on how to be smarter with your money, which investors need because every dollar that is saved is one extra dollar you can invest.
“Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people.
Money—investing, personal finance, and business decisions—is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.
In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.”
4) One up on wallstreet – By Peter Lynch.
One up on WallStreet is a good book for the average investor, and this book will make you a smarter investor. But most of all this book is very good for the insights it has on how an average investor could beat the professionals, and that is why I have One Up On WallStreet as number 4 on this list.
“More than one million copies have been sold of this seminal book on investing in which legendary mutual-fund manager Peter Lynch explains the advantages that average investors have over professionals and how they can use these advantages to achieve financial success.
America’s most successful money manager tells how average investors can beat the pros by using what they know. According to Lynch, investment opportunities are everywhere. From the supermarket to the workplace, we encounter products and services all day long. By paying attention to the best ones, we can find companies in which to invest before the professional analysts discover them. When investors get in early, they can find the “tenbaggers,” the stocks that appreciate tenfold from the initial investment. A few tenbaggers will turn an average stock portfolio into a star performer.”
3) Money Master The Game – By Tony Robbins
This might come as a surprise, but this book by Tony Robbins deserves its place on this list. Money Master The Game is just not about investing, it also goes a lot in depth on how to deal with your emotions and goals, to sharpen your investment decisions. The book also goes in depth on the myths of investing, so this book definitely deserved its place in this article.
“Tony Robbins is one of the most revered writers and thinkers of our time. People from all over the world—from the disadvantaged to the well-heeled, from twenty-somethings to retirees—credit him for giving them the inspiration and the tools for transforming their lives. From diet and fitness to business and leadership, to relationships and self-respect, Tony Robbins’s books have changed people in profound and lasting ways. Now, for the first time, he has assembled an invaluable “distillation of just about every good personal finance idea of the last forty years” (The New York Times)”.
2) The little book of common sense investing – By John C. Bogle.
The best-selling investing “bible” is on this list because it has helped investors all over the planet to become smarter about their investments.
“The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500.
While the stock market has tumbled and then soared since the first edition of Little Book of Common Sense was published in April 2007, Bogle’s investment principles have endured and served investors well. This tenth anniversary edition includes updated data and new information but maintains the same long-term perspective as in its predecessor.
Bogle has also added two new chapters designed to provide further guidance to investors: one on asset allocation, the other on retirement investing”.
1) The Intelligent Investor – By Benjamin Graham.
To end the list we have “the intelligent investor”, if you have read some of my articles then you would probably guess that this book was going to be in this list. The reason this book is on this list is because the book offers sound advice on investing from a trustworthy source – Benjamin Graham, an experienced investor who flourished after the financial crash of 1929. Having learned from his own mistakes, the author lays out exactly what it takes to become a successful investor in any environment. And if you won’t take my word for it, then listen to what Warren Buffet said about this book- “By far the best book on investing ever written”.
“The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham’s philosophy of “value investing” — which shields investors from substantial error and teaches them to develop long-term strategies — has made The Intelligent Investor the stock market bible ever since its original publication in 1949.
Over the years, market developments have proven the wisdom of Graham’s strategies. While preserving the integrity of Graham’s original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines, and gives readers a more thorough understanding of how to apply Graham’s principles.”
These books are so essential when building the backbone to your investment knowledge, I would recommend that every investor takes the effort to invest in themselves so they can build their knowledge within the world of investing. And just remember that investing in yourself is so much more important than investing in general, and every investor should invest in themself to gain knowledge for investing. knowledge is important, especially for investing.
Thank you for reading.
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