Editor’s note: This article was first published in June 2017, and its remark that Leones contra Gacelas is completely updated in the new 2015 edition, along with the price remark, are as of 2017.
If you are looking for some interesting books on investing, here is a selection of the ones I consider very interesting, entertaining and educational for investors.
The Most Important Thing, by Howard Marks
I like Howard Marks. Warren Buffett describes this book as a very useful rarity because, rather than teaching the keys to investment success, it teaches you to think critically.
See also: Learn how to get rich in just 7 minutes: we have the formula
Common Stocks and Uncommon Profits, by Philip A. Fisher
Philip Fisher began his career as a securities analyst in 1928. Three years later he founded his first investment advisory firm in the middle of the economic depression. He quickly built an excellent reputation worldwide.
Buffett acknowledged that his investment method was 85% Benjamin Graham and 15% Fisher. The book covers topics such as when to buy, when to sell and when not to sell, as well as how to build a sound investment philosophy suited to any economic context or investor profile. One of the most recommended books.
Security Analysis, by Benjamin Graham and David Dodd
Security Analysis is another great work by Benjamin Graham. According to Buffett, this book gave him the road map for the investing he has been doing for 57 years. It is a continuation of The Intelligent Investor, perhaps with a much wiser Graham, and it teaches you how to carry out a full analysis of the company you are going to invest in to work out its value, giving you the much-needed margin of safety in an investment.
Leones contra gacelas (Lions vs Gazelles), by José Luis Cárpatos
If The Intelligent Investor is considered the bible of value investing, Cárpatos, with his book Leones contra gacelas, is on his way to becoming the bible of trading. Completely updated in the new 2015 edition, it is more than a book: it is a perfect speculation manual that explains, in an enjoyable way, practically every concept you need to get into investing. It includes personal anecdotes from Cárpatos himself, as well as seasonal patterns, money management and trading psychology.
It is very useful for learning these concepts and then applying them to trend trading. As for the book and its price, if someone asked me whether I think it is expensive, I would say yes. But if someone asked me whether the book is worth what it costs, the truth is that it is. At almost 900 pages, it is a perfect manual.
Reminiscences of a Stock Operator, by Edwin Lefèvre
The fictionalised biography of Jesse Livermore, one of the greatest speculators of all time. We have already devoted an article to Jesse Livermore. Considered probably the best speculator in history, the book is somewhat strange (I couldn’t say why), but it is worth getting to know the story of a man who made a fortune and lost it several times over while searching for the perfect investment method. Livermore is remembered for his ability to anticipate market moves before they happened.
It also talks about market manipulation in the early days of the stock market, something that is still present. If you want to learn about the stock market, this is not your book, but if you want to open your mind about speculation and enjoy the life of this investor, the book is very interesting. Recommended for trading enthusiasts, because Livermore was the best in this field.
The Intelligent Investor, by Benjamin Graham
This book is already a legend in the investing world, above all because it was written by a legend of investing, Benjamin Graham, Warren Buffett’s teacher. Although it is not strictly a financial education book, it is essential reading for anyone who at some point in their life needs or wants to invest.
Featured image: Unknown author, Public domain, via Wikimedia Commons.
