Sat, November 26, 2022

Best Books for Various Types of Investors

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InvestorsThere are thousands of books for experienced as well as inexperienced investors. It is all but impossible to discuss all of them in one article. So, let’s focus on several interesting books. 

The first book is Burton G. Malkiel’s A Random Walk Down Wall Street. His book continues to be at the top of reading lists for investors. Burton G. Malkiel’s book provides readers with a practical guide to investing, covering topics including stocks and bonds, behavioral finance, and even tangible assets such as gold and coins. He also wrote From Wall Street to the Great Wall and The Random Walk Guide to Investing.

It is hard not to mention The Financial Diet when it comes to the best books for millennials. Author Chelsea Fagan focuses on creating and adhering to a budget, tips for having those awkward money conversations with friends, etc. She also covers more advanced topics, such as caring for your house or getting started with investing. Fagan also founded the popular website and YouTube channel, The Financial Diet. 

An updated version of Philip A. Fisher’s book is also quite interesting. Fisher’s book Common Stocks and Uncommon Profits is an in-depth look at investment philosophies with staying power. 

Now, we can discuss Morgan Housel’s book called The Psychology of Money. Interestingly, this collection of 19 short stories focuses on not just the numbers behind financial strategies and investing but also how people think about money. His book highlights not only how our own emotions, bias, and ego play into our financial moves but also gives the reader common sense tools for making those decisions. 

Investors, books, and authors 

As can be seen from the information stated above, there are many interesting books for investors. However, we have to mention Peter Lynch and his book. His classic title Beating the Street covers an integral lesson for all investors: investing in the stock market isn’t (always) a chance game. So, if you do your due diligence regarding the companies you are investing in, you have a much better chance of earning good returns. 

People should keep in mind that Lynch managed one of the most successful mutual funds of all time. A world-famous investor managed the Fidelity Magellan Fund from 1977 to 1990.

Both experienced and inexperienced investors must read John Carreyrou’s book Bad Blood. His books follow the real-life account of the rise as well as the dramatic fall of tech startup Theranos. The company founded by Elizabeth Holmes promised a faster and easier way to conduct blood testing, which would mean sweeping changes for the medical industry. 

Unfortunately, the situation was more complicated than it appeared at first glance. The technology developed by Theranos didn’t work. In his book, John Carreyrou tells the story of this tech startup, serving up a good reminder for investors who are putting their funds in startups: if it seems too good to be true, it probably is. 

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