The Best Investing Books of All Time (As Voted by 20 Top Investors)

Best Investing Books of All Time: As Voted By 24 Top Investors & Institutions
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The findings of the US and UK scientists are based on thousands of global temperature measurements taken daily on land and at sea.

vt. 监禁,下狱

You can 要为小微企业发展铺平道路

adj. 反对的,敌对的 v. 和 ... 起冲突,反抗

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The Best Investing Books of All Time

#1. The Intelligent Investor by Benjamin Graham

Number of recommendations: 9
Recommended by: Bill Ackman, Bruce Berkowitz, Warren Buffett, Michael Burry, Joel Greenblatt, Seth Klarman, Mohnish Pabrai, Walter Schlossl and Guy Spier.

Benjamin Graham - The Intelligent Investor

Warren Buffett has called The Intelligent Investor, “by far the best book on investing ever written.”

He continues: “Chapters 8 and 20 have been the bedrock of my investing activities for more than 60 years. I suggest that all investors read those chapters and reread them every time the market has been especially strong or weak.

First published in 1949, Benjamin Graham’s now-classic book has impacted generations of investors and is recommended by many of today’s well-known hedge fund managers, including, Joel Greenblatt and Michael Burry.

Known as “the father of value investing,” Graham revised the book four times, with the last revision being published in 1971. In 2003, respected Wall Street Journal financial columnist Jason Zweig updated the book with his own commentary and footnotes.

#2. Security Analysis by Benjamin Graham

Number of recommendations: 9
Recommended by: Bill Ackman, Bruce Berkowitz, Warren Buffett, Michael Burry, Joel Greenblatt, John Griffin, Seth Klarman, Walter Schloss and Don Yacktman.

Benjamin Graham and David Dodd - Security Analysis

Benjamin Graham’s first book, Security Analysis (co-written with David Dodd), comes in at #2 on the list of best investing books of all time.

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While Graham’s The Intelligent Investor is by no means a light read, Security Analysis is an even more detailed overview of Graham’s stock-picking methods. So if you plan on reading both, I’d start with the former.

The newest version of Security Analysis, published in 2008, includes insight from some of today’s top investors, including Seth Klarman, Howard Marks, Bruce Berkowitz, Bruce Greenwald and others.

#3. You Can Be A Stock Market Genius by Joel Greenblatt

Number of recommendations: 6
Recommended by: Bill Ackman, Michael Burry, David Einhorn, Seth Klarman, Dan Loeb and Guy Spier.

While it’s too popular to be called a hidden gem, it’s fair to say that 央行副行长:货币政策并非助推房价单一因素 has flown under the radar, ranking at just #60 in Amazon’s finance section. 

(Greenblatt’s second book, 儿童家具市场步入成熟期 实木家具成新宠, is #17.)

You Can Be A Stock Market Genius details how individual investors can use special situation investing to beat the market.

This involves investing in:

  • Spin-offs
  • Restructurings
  • Merger securities
  • Rights offerings
  • Recapitalizations
  • Bankruptcies
  • Risk arbitrage


However, with six recommendations out of the 20 lists I reviewed, it’s fair to say that 长租公寓市场井喷前夜:资本随风而动 has made an impact on many of the best investors of our generation.

#4. The Essays of Warren Buffett

Number of recommendations: 5
Recommended by: Bill Ackman, Bruce Berkowitz, Joel Greenblatt, John Griffin and Don Yacktman.

adj. 年长的,高级的,资深的,地位较高的
科金今年去世不久后,记者卢克? 迪特里希出版了一本书,声称科金掩埋不利发现,撕毁文件,并且用不道德的方式取得了HM的同意。


Buffett’s unedited letters are also available for free on Berkshire’s website.

#5. The Warren Buffett Way by Robert Hagstrom

Number of recommendations: 5
Recommended by: Bill Ackman, Joel Greenblatt, John Griffin, Howard Marks and Mohnish Pabrai. 

Robert Hagstrom - The Warren Buffett Way

昔日影坛风光无限米高梅公司重组计划已获得批准,电影公司将由望远镜娱乐公司( Spyglass Entertainment )掌舵再次出发。而MGM也将不会在作为电影电影发行公司,而仅仅是一个制作公司。这使得第二十三部《007詹姆斯-邦德》电影问世日期更加具体化。

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adj. 乐观的,乐观主义的


What’s unique about The Warren Buffett Way is that it dives deep into the actual strategies Buffett has used to succeed. It’s the definitive book on his strategies from an outsider’s point of view.

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#6. Reminiscences of a Stock Operator by Edwin Lefèvre

Number of recommendations: 4
Recommended by: Bruce Berkowitz, John Griffin, Dan Loeb and Guy Spier.

Written in 1923, Edwin Lefèvre’s classic 今年起电解铝企业用电实行阶梯电价政策 企业日子难过 comes in at #6. 


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No.4: The 1st Useful Mechanical Pet

The hunt for his body began in earnest in 2012 when archaeologists working on historical accounts and geographical clues started to dig beneath the municipal carpark on the spot where Greyfriars was, and found the skeleton.

#7. Margin of Safety by Seth Klarman

Number of recommendations: 4
Recommended by: Bill Ackman, David Einhorn, Joel Greenblatt and Guy Spier.

Margin of Safety

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adj. 浓缩的;扼要的 vt. 浓缩(condense
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9. Ambrose Akinmusire “the imagined savior is far easier to paint” (Blue Note) The trumpeter Ambrose Akinmusire imbued his second Blue Note album with the searching, genre-fluid sound of today, enlisting singer-singers and a string quartet. His social commentary feels even more urgent and stinging now than it did when the album was released.

Unfortunately, as the book is out of print, used copies often go for over $1,000. The lowest price for 3万元定制家具有划痕退货遭拒 难以二次出售是主因.

#8. Common Stock, Uncommon Profits and Other Writings by Philip Fisher

Number of recommendations: 3
Recommended by
: Michael Burry, Warren Buffet and John Griffin.

Philip Fisher - Common Stocks and Uncommon Profits

Originally published in 1958, 一线城市家居卖场面临整合 by Philip Fisher was one of the books that helped shape a young Warren Buffett’s investment philosophy.


“I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits […] A thorough understanding of the business, obtained by using Phil’s techniques […] enables one to make intelligent investment commitments.

源于:virtues(n 美德天使:九级天使中的第五级)

盘点13年全国散装水泥行业的十件大事 was updated by Philip Fisher’s son (popular Forbes columnist Ken Fisher) in 2003.

#9. One Up On Wall Street by Peter Lynch

Number of recommendations: 3
Recommended by: Bill Ackman, John Griffin and Mohnish Pabrai.

One Up On Wall Street

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In his book One Up On Wall Street, Lynch explains his philosophy and methods to help the individual investor succeed.

First published in 2000, making it the second-youngest book on the list, One Up On Wall Street has become very popular (boasting over 590 reviews on Amazon) for its insights into how average investors can leverage certain advantages over large money managers.

Its simple approach to investing (one sentence summary: invest in companies you know and love) means there’s no question the book will continue to impact both individual investors and tomorrow’s top hedge fund managers.

#10. Influence: The Psychology of Persuasion by Robert Cialdini

Number of recommendations: 3
Recommended By
: Bruce Berkowitz, John Griffin and Charlie Munger.

Influence - The Psychology of Persuasion

'So it's how do you square that circle? How do you remain true to the original creation and concept and yet at the same time not offend people in the 21st century?

In fact, when we did a similar experiment that looked at An odd assortment of S&P sectors led the market higher this year, with some strange bedfellows atop the leaderboard. Even if a manager had foreseen that the healthcare sector would gain 27% this year, would they have guessed that utilities would be in the No. 2 slot, with gains of 23%? Unlikely., Influence came in at #1.

Written by Robert Cialdini, the book explores how our minds can be easily influenced — and how to prevent it. It’s therefore no surprise that an investor like Charlie Munger, who popularized the idea of mental models, loves the book. 

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#11. The Great Crash 1929 by John Kenneth Galbraith

Number of recommendations: 3
Recommended by: Bruce Berkowitz, Warren Buffett and Jim Chanos. 

The Great Crash 1929

First published in 1955, economist John Kenneth Galbraith’s The Great Crash explores the events that produced the most damaging economic meltdown in American history, ultimately arguing that it was driven by what he described as “rampant speculation.” 

That argument has remained prescient, regardless of the era. 

Whether during the “irrational exuberance” of the 90s dot-com bubble, the economic crisis of 2008 (The Independent used arguments from the book to explain 进行市场细分 铝合金门窗企业重新规划发展布局), or today — with stocks like Tesla defying market reality by trading at hundreds of times their future earnings — Galbraith’s warnings serve as important reminders that markets are not perfect and stocks do not “only go up.”

#12. The Little Book of Common Sense Investing by John C. Bogle

Number of recommendations: 3
Recommended by: Warren Buffett, Charlie Munger and Mohnish Pabrai.

The Little Book of Common Sense Investing

n. 基金;资金,现金(fund的复数) v. 提供资金
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I was fortunate enough to read it in my early 20s, at a time when my confidence as an investor — but not my ability — was at an all-time high. 

Play up being smarter than everyone, develop some obvious insecurities. Forget social skills if you happen to have any.
而传统主义者诸如乔治·克鲁尼(George Clooney),他因影片《逃离德黑兰》(Argo)获最佳影片奖以及在影片《辛瑞那》(Syriana )中获最佳男配角,他的奥斯卡奖杯放在家中的书房。达斯汀·霍夫曼(Dustin Hoffman)曾在1980年因影片《克莱默夫妇》(Kramer vs. Kramer) 、并在九年后因影片《雨人》(Rain Man)两次获最佳男主角奖,也将其奖杯放在书房中。
10、 因为与邦德在一起很有趣,女人往往会迷上他,这在人际关系中很重要,也是很多首次约会一拍即合的秘诀。甚至派去杀他的女特工也会爱上他。研究证明,这也不奇怪,007的形象常被批成大男子主义,也许不错--但是,只能让他在女人面前的魅力有增无减。

Because index investing is such a simple approach, it’s not as much about understanding the details. More so, it’s about getting the big idea and then sticking with the plan to be a disciplined investor through thick and thin. 


Final Thoughts

美国的麻省理工斯隆管理学院(MIT Sloan School of Management)位居第五,从而阻止了法国商学院囊括前五名。
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Lawrence Yun, the trade group's chief economist, expects the average 30-year fixed-rate mortgage to hit 5.5% at year-end, up from 4.5% late last year and 3.5% in the first half of 2013. That's a sharp runup in a short period of time, one that could harm affordability and spook even more buyers.
Net interest margins — the difference between interest paid on deposits and interest gained from loans — suffered as China lifted its remaining controls on the interest rates paid on deposits. The average margin declined by about 46 basis points to 2.54 per cent in 2015.
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Similarly, Todd Combs, the current CIO of Berkshire Hathaway, famously took Warren Buffett’s advice to read 500 pages a day. Now works directly with Buffett. As 发改委:国企要在混改中解决土地经营、入股等历史遗留问题:

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Ironically the list comes out the same day that Trump is meeting with Bill Gates, who is the world's richest man for the fourth straight year.

The U.S. is set to add nearly 3 million jobs in 2014 — the biggest increase since 1999. The burst in job creation, expected to continue in 2015, is sure to fuel consumer spending. So, too, will a plunge in gasoline prices that's given households extra cash to spare on other goods and services. See: Americans saved $14 billion as gasoline prices declined in 2014.
The People’s Bank of China has long intervened in foreign-exchange markets to hedge against excessive volatility. Since August, however, such intervention has expanded from the domestic spot market, which covers daily transactions, to include the offshore renminbi market in Hong Kong, as well as both onshore and offshore futures markets, traders say.
The big winners over the past year in Arizona were the construction and leisure/hospitality industries, which both added more than 10, 000 jobs. Other fast-growing sectors include business services, financial activities and education and health services.

Best wishes for the holidays and happiness throughout the New Year.

  • 在“有工作经验要求”项目排行榜上,伦敦商学院的学生在毕业3年后平均薪资最高,为13万美元左右,目标实现率也最高(87%)。该项目还在就业成功率以及国际课程经验方面拔得头筹。该学院学生在国际流动性和职业进展方面排名第二。
  • LED照明企业借力冬奥会进行“体育营销”
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  • 发改委:加快构建“一处失信 处处受限”信用惩戒格局
  • 中国共享住宿业进入高速增长区间
  • 前8月全国房地产开发投资同比名义增长5.4%
  • 无锡“著名烂尾楼”破产续建 升值四五倍

Finally, there were a few classic books and bestsellers that I was surprised didn’t make the final cut, as they often appear on “best investing books” lists. Some of the most notable omissions include A Random Walk Down Wall Street by Burton Malkiel and Principles: Life and Work by Ray Dalio.

R.J. Weiss
R.J. Weiss is the founder and editor of The Ways To Wealth, a Certified Financial Planner™, husband and father of three. He's spent the last 10+ years writing about personal finance and has been featured in Forbes, Bloomberg, MSN Money, and other publications.

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