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RECOMMENDED READING LIST

IMPROVING YOUR INVESTMENT SKILLS AND KNOWLEDGE


LEARNING NEVER STOPS

“It’s a good reader that makes a good book”... Ralph Waldo Emerson.

These books are chosen on merit, and for enjoyment as well as the depth of knowledge of the authors.

Title

Author

Comments

Introductory Books for the New Investor



Beginners Guide to Investment

Bernard Gray

Primer published by Investors Chronicle but it needs a revised edition

How the Stock Market Works

Michael Beckett and Yvette Essen

Up to date guide sponsored by the Daily Telegraph.

Investing in Stocks and Shares

Dr John White

A good basic guide.

The Financial Times Guide to Investing

Glen Arnold

A good overview of investment.

A Random Walk Down Wall Street

Burton G. Malkiel

Essential reading for those new to stock market investing.

The FT Guide to Investment Trusts

John Baron

A sound guide to investment trusts.

Fundamentals Orientated Investing



Intelligent Investor

Benjamin Graham

Now somewhat dated but still a good grounding by the mentor of Warren Buffett.

Buffettology

Mary Buffett

How Warren Buffett achieves his returns.

Warren Buffett Way

Charles Hagstrom

Same as above.

Essays of Warren Buffett

Lawrence Cunningham

The words of the master investor.

On Investing

John Neff

Words of a successful investor.

Zulu Principle

Jim Slater

Selecting growth stocks.

How to Make Money in Stocks

William O'Neill

CANSLIM investment approach.

Common Stocks and Uncommon Profits

Philip A. Fisher

Emphasis is on picking growth stocks.

Investment Guide to Warrants

Andrew McHattie

A good introduction to warrants.

Security Analysis

Graham & Dodd

Update of Ben Graham's classic tome. May be a bit heavy going for some but comprehensive.

Selecting Shares that Perform: 10 Ways to Beat the Stock Market

Richard Koch and Leo Gough

A good introduction to share selection for medium to long term investors.

FT Guide to Using the Financial Pages

Romesh Vaitilingam

Although aimed originally at how to interpret the information in the Financial Times, it's a good grounding in interpreting financial information generally.

Don't Count On It!

John Bogle

A good explanation of how the US mutual fund industry operates to the disadvantage of investors by the advocate of low cost index tracking funds.

How to Make Money in Value Stocks

Ed Croft, Ben Hobson and Daveid Brickell

A very comprehensive overview of "fundamental" investment techniques and the rules used by the masters. Complements the Stockopedia Pro service.

The Little Book that Beats the Market

Joel Greenblatt

Suggests a "Magic Formula" for beating stock market indices by automated stock selection based on financial fundamentals.

How to Make a Million Slowly

John Lee

How the author became an "ISA Millionaire" in record time.

What Works on Wall Street

James P. O'Shaughnessy

An analysis of the factors that affect investment returns from companies.

The Defensive Value Investor

John Kingham

A guiide to building a high-yield, low-risk share portfolio.

Invest In The Best

Keith Ashworth-Lord

Business perspective investing by a disciple of Warren Buffett.

ATrading Techniques



Book of Investing Rules

Jenks & Eckett

Rules of thumb from experienced investors.

How to Trade in Stocks

Jesse Livermoore

A classic text.

Trader Vic: Methods of Wall St. Master

Victor Sperandeo

Practical advice from an experienced Wall St.trader.

How I Trade in Stocks & Bonds

Richard D. Wyckoff

Another classic text.

Investment Policy

Charles Ellis

How to formulate an investment plan, or "win the loser;s game" as he puts it.

Practical Speculation

Niederhoffer & Kenner

A traders view of the market.

Stock Market Profits

Richard Schabacker

Overview of market practices.

One Up On Wall Street

Peter Lynch

Growth stock investment techniques.

The UK Trader's Bible

Dominic Connolly

Contains lots of detail technical information on how the markets operate and trading techniques. Useful background information even for less frequent traders.

Technical Analysis



Guide to Charting

Alistair Blair

Basic charting techniques.

Accounting and Legal



Accounting for Growth

Terry Smith

Creative accounting techniques.

Meaning of Company Accounts

Reid & Middleton

How to analyse company accounts.

Company Law Handbook

Keith Walmsley

Comprehensive reference guide.

Historic, Educational, Biographical, Comic & Esoteric



Caught Short

Eddie Cantor

A memoir of the Wall Street Crash

Do You Sincerely Want to be Rich

Raw, Page & Hodgson

The story of IOS, Bernie Cornfeld and how investors in mutual funds get taken for a ride.

Fortune's Formula

William Poundstone

The links between gambling and investment.

Reminiscences of a Stock Operator

Edwin Lefevre

Trading techniques of Jesse Livermoore.

The Big Short

Michael Lewis

History of the sub-prime banking crisis.

Decline and Fall of Banking

William Brown

The banking crisis including extended analysis of Northern Rock.

Fooled by Randomness

N.N. Taleb

The role of chance in the markets.

Money Makers

Jonathan Davis

Biographies of top fund managers.

Accidental Empires

Robert Cringely

Amusing software industry history.

The Great Crash 1929

John K.Galbraith

A short history of the Wall Street Crash.

The Deal Maker

Axel Madsen

Biography of William Durant (GM creator).

Titan

Ron Chernow

Biography of John D. Rockefeller.

The Rational Optimist

Matt Ridley

A mixture of anthropology, economics and history.

The New Few

Richard Mount

An analysis of the current problems in business and political democracy with the rise of oligarchs in the UK.

Monkey With a Pin

Pete Comley

An explanation of why stock market investment returns are never as good as you expect.

Inflation Tax

Pete Comley

How inflation erodes your wealth and how to avoid it.

Business Background



In Search of Excellence

Peters and Waterman

What makes a successful company.

Competitive Strategy

Michael Porter

How to analyse companies and industries.

Only the Paranoid Survive

Andrew Grove

Overcoming crises in businesses.

Other People's Money

John Kay

The financial structure of the modern world and how to reform it.

One of our key objectives (see Objects) is to improve our members’ investment performance and knowledge. Reading these books would be a good starting point for any investor and can help you to develop your own investing approach and style. But even re-reading them after a period of time can be useful to remind you not to fall into bad habits. Note that some of these books are US orientated and may only be available from US book stores. A number of these books may seem to be archaic at first glance, although the history of reprints tells you that they are still popular among modern readers. It would be a mistake to think that we cannot learn from the past experience of master investors, or that we should ignore the academic underpinnings of the modern investment scene.

LEARNING NEVER STOPS

Don’t forget to let us know if you have your own recommendations to add to this list. Note that some of these books have been reviewed in past editions of the ShareSoc Informer newsletter or on the Members Network - use the site search facilities to check for the presence of a review on a specific title.

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