“Just because in an investment book is a national best seller, doesn’t mean it’s a good source of information … Some of the biggest selling investment books dispense some of the poorest investment advice.”
— The Bogleheads Guide to Investing
When it comes to learning about investing, there are thousands of books on various investment topics. If you type in the word “investment books” on Amazon.com, there are more than 150,000 books. The bad news is that there are more bad books than good books to pick from.
During a recent visit to a large well known bookstore, I counted more than 500 books lining the shelves of its “personal finance” and “investing” sections. The vast majority of these books were “how to” books on picking winning stocks, top performing mutual funds, and becoming a successful day trader.
Other topics included; investing in options, hedge funds, derivatives, futures, and commodities. In addition to these highly speculative get rich quick books, there were also some of the true classic investment books, (i.e., “The Intelligent Investor” by Professor Benjamin Graham, “One Up on Wall Street” by Peter Lynch, “Stocks for the Long Run” by Jeremy Siegel, and “A Random Walk Down Wall Street” by Burton G. Malkiel) just to name a few. However, most of these books, as brilliantly written as they are, do not provide the basic information that most investors either want or need.
I have often been asked which investment books I would recommend reading. After careful consideration, I have put together a list of my top 10 choices. I have personally read each one these books and highly recommend anyone of them. They are listed in no particular order.
Each one of these books cover topics that investors need (i.e., asset allocation, diversification, IRA and 401k investing, reducing expenses, managing risk, and sample portfolios) to develop an effective investment portfolio.
* Investing Demystified, by Paul Lim
* The Gone Fishin Portfolio, by Alexander Green
* 20 Retirement Decisions You Need to Make Right Now, by Ray LeVitre
* The Bogleheads Guide to Investing, by Taylor Larimore, Mel Lindauer, Michael LeBoeuf
* Saving for Retirement, by Gail MarksJarvis
* Live It Up Without Outliving Your Money!, by Paul Merriman
* Unconventional Success: A Fundamental Approach to Personal Investment, by David F. Swensen
* The Only Guide to a Winning Investment Strategy You’ll Ever Need, by Larry Swedroe
* The First Time Investor: How to Start Safe, Invest Smart, and Sleep Well, by Larry Chambers and Dale Rogers
* Investment Strategies for the 21st Century, by Frank Armstrong
Should you happen to finish these 10 books during your summer reading, there is the investment book, “7 Steps to Becoming a Better Investor” you may want to consider adding to your list.
Martin Krikorian is president of Capital Wealth Management, a “fee-only” registered investment adviser located at 9 Billerica Road, Chelmsford. He is the author of the investment book; “7 Steps to Becoming a Better Investor.” Martin can be reached at 978-244-9254, Capital Wealth Management’s website; www.capitalwealthmngt.com, or via email at email@example.com.
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