1. “The Wealthy Barber”, by David Chilton (1997).
The second part of the title explains the premise: “Common sense guide for all to become financially independent.” He points out that slow and steady wins the race.
2. “From monk to fund manager”, by Doug Lynam (2019).
The author grew up in a wealthy family and became a hippie, then a US Marine. This leads to living in a monastery, helping the monks go bankrupt and managing their money afterwards.
3. “Bogleheads’ Guide to the Three-Fund Portfolio”, by Taylor Larimore (2018).
Who knew there was a
Bug Head Forum? It assumes that you can be successful by combining three index funds.
4. “The Smart Investor”, by Benjamin Graham (2006, first published in 1949!).
He talks about value investing and minimizing losses. Warren Buffett’s “By far the best book on investing ever written” is the best possible recommendation.
5. “Simple Wealth, Inevitable Wealth”, by Nick Murray (1999).
Nick Murray is famous in the industry. This shows that the client and the advisor work as a team.
6. “The Psychology of Money”, by Morgan Housel (2020).
The use of the word “psychology” gives a clue to the approach. Many people think that investing is all about the numbers. Many of the funding and investing decisions we make involve emotions.
7. “Rich daddy, poor daddy”, by Robert Kiyosaki (2017).
This is another classic, first released about 25 years ago. An important point he makes is to contrast the approach of having a well-paying job versus investing wisely and letting your money do the work.
8. “Extraordinary popular delusions and the madness of crowds”, by Charles Mackay (2016).
You will notice that the original was published in 1841! There have been many investment bubbles over the centuries. Some examples, like the Dutch tulip bubble, will be familiar to you.
9. “Why Wall Street Matters”, by William Chan (2017).
The author’s experience includes both investment banker and journalist work. This shows that most Americans are directly or indirectly linked to Wall Street. Another point he makes is that capital is an important part of capitalism.
10. “The New Financial Advisor”, by Nick Murray (2001).
Nick Murray is an investor supporter working alongside advisers. The person who recommended it felt that it “validates his belief in the stock market” and that after 20 years it still deserves a place in his book collection.
11. “Dear Kate: Reflections on Risks and Rewards After the Storm”, by Brad Fortier (2012).
The book examines the author’s perspective on life and what is important after Hurricane Katrina. It discusses financial matters and other life lessons. The format is a father writing to his daughter.
12. “Reminiscences of a stock market operator”, by Edwin Lefevre (2006).
It’s another “golden oldie”, since the original was first released over 90 years ago. It has been described as a fictionalized biography and teaches lessons that are still relevant today. One example is the logic of sitting tight.