hat

ShareSoc
INVESTOR ACADEMY

RECOMMENDED READING LIST
IMPROVING YOUR INVESTMENT SKILLS AND KNOWLEDGE

One of our key objectives (see Objects) is to improve our members’ investment performance and knowledge. Reading these books would be a good starting point for any investor and can help you to develop your own investing approach and style. But even re-reading them after a period of time can be useful to remind you not to fall into bad habits. Note that some of these books are US orientated and may only be available from US book stores. A number of these books may seem to be archaic at first glance, although the history of reprints tells you that they are still popular among modern readers. It would be a mistake to think that we cannot learn from the past experience of master investors, or that we should ignore the academic underpinnings of the modern investment scene.

TitleAuthorComments
Introductory Books for the New Investor
Beginners Guide to InvestmentBernard Gray Primer published by Investors Chronicle but it needs a revised edition
How the Stock Market WorksMichael Beckett and Yvette EssenUp to date guide sponsored by the Daily Telegraph.
Investing in Stocks and SharesDr John WhiteA good basic guide.
The Financial Times Guide to InvestingGlen ArnoldA good overview of investment.
A Random Walk Down Wall StreetBurton G. MalkielEssential reading for those new to stock market investing.
The FT Guide to Investment TrustsJohn BaronA sound guide to investment trusts.
The DIY Investor: How to get started in investing and plan for a financially secure future.Andy BellA practical "how to" guide, explaining how modern platforms, investment products and tools can be used for equity investment. ShareSoc full members can read a review of this book here: http://sharesoc.ning.com/xn/detail/6389471:Comment:45401
Fundamentals Orientated Investing
Intelligent InvestorBenjamin GrahamNow somewhat dated but still a good grounding by the mentor of Warren Buffett.
BuffettologyMary BuffettHow Warren Buffett achieves his returns.
Warren Buffett WayCharles HagstromSame as above.
Essays of Warren BuffettLawrence CunninghamThe words of the master investor.
On InvestingJohn NeffWords of a successful investor.
Zulu PrincipleJim SlaterSelecting growth stocks.
How to Make Money in StocksWilliam O’NeillCANSLIM investment approach.
Common Stocks and Uncommon ProfitsPhilip A. FisherEmphasis is on picking growth stocks.
Investment Guide to WarrantsAndrew McHattieA good introduction to warrants.
Security AnalysisGraham & DoddUpdate of Ben Graham’s classic tome. May be a bit heavy going for some but comprehensive.
Selecting Shares that Perform: 10 Ways to Beat the Stock MarketRichard Koch and Leo GoughA good introduction to share selection for medium to long term investors.
FT Guide to Using the Financial PagesRomesh VaitilingamAlthough aimed originally at how to interpret the information in the Financial Times, it’s a good grounding in interpreting financial information generally.
Don’t Count On It!John BogleA good explanation of how the US mutual fund industry operates to the disadvantage of investors by the advocate of low cost index tracking funds.
How to Make Money in Value StocksEd Croft, Ben Hobson and David BrickellA very comprehensive overview of "fundamental" investment techniques and the rules used by the masters. Complements the Stockopedia Pro service.
The Little Book that Beats the MarketJoel GreenblattSuggests a "Magic Formula" for beating stock market indices by automated stock selection based on financial fundamentals.
How to Make a Million SlowlyJohn LeeHow the author became an "ISA Millionaire" in record time.
What Works on Wall StreetJames P. O’ShaughnessyAn analysis of the factors that affect investment returns from companies.
One up on Wall StreetPeter LynchHow to find potential investments and value them
The Defensive Value InvestorJohn KinghamA guide to building a high-yield, low-risk share portfolio.
Invest In The BestKeith Ashworth-LordBusiness perspective investing by a disciple of Warren Buffett.
High Returns from Low Risk: A Remarkable Stock Market ParadoxPim van VlietBusting the myth that achieving higher returns requires taking greater risks.
Trading Techniques
Book of Investing RulesJenks & EckettRules of thumb from experienced investors.
How to Trade in StocksJesse LivermooreA classic text.
Trader Vic: Methods of Wall St. MasterVictor SperandeoPractical advice from an experienced Wall St.trader.
How I Trade in Stocks & BondsRichard D. WyckoffAnother classic text.
Investment PolicyCharles EllisHow to formulate an investment plan, or "win the loser;s game" as he puts it.
Practical SpeculationNiederhoffer & KennerA traders view of the market.
Stock Market ProfitsRichard SchabackerOverview of market practices.
The UK Trader’s BibleDominic ConnollyContains lots of detail technical information on how the markets operate and trading techniques. Useful background information even for less frequent traders.
Technical Analysis
Guide to ChartingAlistair BlairBasic charting techniques.
Accounting and Legal
Accounting for GrowthTerry SmithCreative accounting techniques.
Meaning of Company AccountsReid & MiddletonHow to analyse company accounts.
Company Law HandbookKeith WalmsleyComprehensive reference guide.
Historic, Educational, Biographical, Comic & Esoteric
Caught ShortEddie CantorA memoir of the Wall Street Crash
Do You Sincerely Want to be RichRaw, Page & HodgsonThe story of IOS, Bernie Cornfeld and how investors in mutual funds get taken for a ride.
Fortune’s FormulaWilliam PoundstoneThe links between gambling and investment.
Reminiscences of a Stock OperatorEdwin LefevreTrading techniques of Jesse Livermoore.
The Big ShortMichael LewisHistory of the sub-prime banking crisis.
Decline and Fall of BankingWilliam BrownThe banking crisis including extended analysis of Northern Rock.
Fooled by RandomnessN.N. TalebThe role of chance in the markets.
Money MakersJonathan DavisBiographies of top fund managers.
Accidental EmpiresRobert CringelyAmusing software industry history.
The Great Crash 1929John K.GalbraithA short history of the Wall Street Crash.
Superinvestors: Lessons from the greatest investors in history, from Jesse Livermore to Warren Buffett & beyond.Matthew PartridgeA review of the greatest investors in history and their investment styles. Full members of ShareSoc can find a review of this book here: http://sharesoc.ning.com/xn/detail/6389471:Comment:45104
The Deal MakerAxel MadsenBiography of William Durant (GM creator).
TitanRon ChernowBiography of John D. Rockefeller.
The Rational OptimistMatt RidleyA mixture of anthropology, economics and history.
The New FewRichard MountAn analysis of the current problems in business and political democracy with the rise of oligarchs in the UK.
Monkey With a PinPete ComleyAn explanation of why stock market investment returns are never as good as you expect.
Inflation TaxPete ComleyHow inflation erodes your wealth and how to avoid it.
Business Background
In Search of ExcellencePeters and WatermanWhat makes a successful company.
Competitive StrategyMichael PorterHow to analyse companies and industries.
Only the Paranoid SurviveAndrew GroveOvercoming crises in businesses.
Other People’s MoneyJohn KayThe financial structure of the modern world and how to reform it.

Don’t forget to let us know if you have your own recommendations to add to this list. Note that some of these books have been reviewed in past editions of the ShareSoc Informer newsletter or on the Members Network – use the site search facilities to check for the presence of a review on a specific title.