As a student of the markets and investing for 3 decades and a professional investment advisor overseeing billions of dollars for over 2 decades, I have discovered that most investment books and information lack real insight. Much of what I read and see is not thoughtful or deeply researched and merely a regurgitation of what everyone else is saying. I’ve learned that most of what is thought to be conventional thinking is remarkably poorly supported by independent, unbiased research. The books on my recommended list go beyond what you’d read in the average investment book to uncover truly insightful knowledge that I believe can help readers take their investment understanding to the next level.
I wrote...
Risk Parity: How to Invest for All Market Environments
Most portfolios are heavily weighted to stocks even though the stock market can suffer devastating losses and underperform for a decade or longer. Investors take the risk because they seek attractive long-term returns. Is there a better way to earn equity-like returns with less risk?
In Risk Parity: How to Invest for All Market Environments, I present a simple approach to portfolio management that reduces the potential for significant capital loss while maintaining an attractive expected return. You’ll discover how a passive allocation across a balanced mix of asset classes that anyone can easily access can provide a more stable return through shifting economic environments.
I love this book because Ray is a master at building, evaluating, and improving systems and has taken the time to share his insights to help others do the same.
The principles he’s identified and described can simultaneously assist any investor to construct a better portfolio and any person to live a more successful and fulfilling life. This book offers a unique opportunity to learn from one of the most insightful people in history.
"Significant...The book is both instructive and surprisingly moving." -The New York Times
Ray Dalio, one of the world's most successful investors and entrepreneurs, shares the unconventional principles that he's developed, refined, and used over the past forty years to create unique results in both life and business-and which any person or organization can adopt to help achieve their goals.
In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in…
The late Jack Bogle, founder of Vanguard, was one of the pioneers of the investment industry.
Unlike many of his peers, Jack placed the interests of investors ahead of everyone else, including himself and his firm. This little book encapsulates one of the core tenets he instilled into his firm and in the industry – low cost index investing is an attractive way for the average investor to invest. The book provides compelling support for his argument.
The best-selling index investing "bible" offers new information and is updated to reflect the latest market data The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund veteran 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 the S&P 500 Stock Index. Such an index portfolio is the only investment that guarantees your fair share of…
The investment world is dominated by players who essentially have the same beliefs and say the same things. I love writers who offer a unique perspective informed by an independent framework.
One of the greatest challenges in investing is distinguishing luck from skill. Taleb does a masterful job of raising the readers’ awareness of this common oversight. I believe reading this book will make you a more thoughtful investor.
Everyone wants to succeed in life. But what causes some of us to be more successful than others? Is it really down to skill and strategy - or something altogether more unpredictable?
This book is the bestselling sensation that will change the way you think about business and the world. It is all about luck: more precisely, how we perceive luck in our personal and professional experiences. Nowhere is this more obvious than in the markets - we hear an entrepreneur has 'vision' or a trader is 'talented', but all too often their performance is down to chance rather than…
While this is not per se an investment book, I include it in my list because it teaches you how the mind works.
I believe this insight can lead you to be a better investor because so much of our decision making process is based both on logic and emotion. The more aware you are about what drives your decisions (which ultimately impact your results), the better your decisions over time (and the better your results).
The phenomenal international bestseller - 2 million copies sold - that will change the way you make decisions
'A lifetime's worth of wisdom' Steven D. Levitt, co-author of Freakonomics 'There have been many good books on human rationality and irrationality, but only one masterpiece. That masterpiece is Thinking, Fast and Slow' Financial Times
Why is there more chance we'll believe something if it's in a bold type face? Why are judges more likely to deny parole before lunch? Why do we assume a good-looking person will be more competent? The answer lies in the two ways we make choices: fast,…
A successful investor over the long run should always be worried about what can go wrong.
One of the greatest contributors to catastrophic loss is overconfidence and the belief that you can’t lose. This book offers a real-life story about some of the smartest, most resourced investors losing everything.
Hopefully it will instill the appreciation that it isn’t just about being a market genius but about recognizing that far too often unforeseen market events actually happen without warning.
Picking up where Liar's Poker left off (literally, in the bond dealer's desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners.
Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street's brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold standard in investing. It was to be the hedge fund to end all other hedge funds: a…
Few of us take the time to analyze our financial needs and goals to answer that pressing question. In Wealth Odyssey, author Larry R. Frank Sr. uses his extensive financial background to provide a universal road map that will help you determine the wealth you need to support your chosen lifestyle.
Frank discusses such topics as the wealth rule, the earning-spending-saving formula, using debt wisely, and risk management.
Wealth Odyssey is authored to be timeless; it does not matter what the market has done, or will do. This is a practical, no-nonsense guide that will help you develop a personal definition of wealth and create an effective strategy for long-term financial success.
Wealth Odyssey: The Essential Road Map for Your Financial Journey Where Is It You Are Really Trying to Go with Money?
"Frank, a Certified Financial Planner in California, offers a concise, precise guide to "prudent thinking" about personal finances, along with simple tools to estimate how much is required for a comfortable retirement." "A sound guide designed to help people make sensible plans for a successful retirement" - Kirkus book review "First let me tell you Larry Frank knows his stuff. He has a procedure that many will find worth taking the time to implement.” " The book is full of good advice." - Armchair interviews "Larry Frank Sr, gives you a guidebook or "road map" for your financial goals or…
