Identifying the Best Investment Books

A list by Warren Buffet and Charlie Munger

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In 1727, a twenty-one-year-old apprentice arranged a convention of 11 of his fellow artisans and tradesmen, the “Leather Apron Club”, to form a club of mutual improvement to meet on Friday evenings to discuss points of Morals, Politics, or Natural Philosophy (the study of nature and the physical universe).

This remarkable young man, Benjamin Franklin, and his friends implemented ideas that could be “serviceable to mankind” and created initiatives that would later become the “volunteer firehouse”, “public universities” and “public hospitals” across the tiny 13 Colonies, that later expanded to become the current United States of America.

The most famous initiative of this group was the borrowing of books from each other. When discussions on points of fact floundered, the group pooled resources to establish a representative library for easy referral.

The Library was largely democratic in nature, created by and for the members who aimed to establish permanent collections of books and reading materials accessible to subscribers.

Today you don’t need to be a subscriber to access free ebooks, as amazing producers and distributors like Project Gutenberg make many classics available online.

List of Book Recommendations

We have compiled an online list of “classics”… books, detailed scholarly articles and resources we consider useful when thinking of investing and the general world of business. This provides a starting point for individuals to impartially seek, find and receive true knowledge themself.

All of the materials in this list should be considered in a spirit of open-minded tolerance.

This list is focused on stock picking in the USA.

The Basics:

An Inquiry into the Nature and Causes of the Wealth of Nations – Adam Smith – 1776

The Art of Speculation – Philip L. Carret – 1930

The General Theory Of Employment Interest And Money – John Maynard Keynes – 1936

The Theory of Investment Value – John Burr Williams – 1938

Security Analysis – Benjamin Graham and David L. Dodd – 1940

Investment Companies and their Securities – Arthur Wiesenberger – 1943

The Intelligent Investor – Benjamin Graham – 1949

Common Stocks And Uncommon Profits – Philip A. Fisher – 1957

Investing in Companies and Markets

Essays in Persuasion – John Maynard Keynes – 1931 (2010 Edition)

Where are the Customers’ Yachts? Or, A Good Hard Look at Wall Street – Fred Schwed – 1940

The Great Crash 1929 – John Kenneth Galbraith – 1954

Paths to Wealth Through Common Stocks – Philip A. Fisher – 1960

The Money Game – Adam Smith – 1976

The Truth About Corporate Accounting – Abraham Briloff – 1981

A Piece of the Action: How the Middle Class Joined the Money Class – Joe Nocera – 1994

Investment Made Easy – Jim Slater – 1994

You can be a Stock Market Genius – Joel Greenblatt 1999

Quality Financial Reporting – Paul B.W. Miller, Paul R. Bahnson – 2002

The Most Important Thing: Uncommon Sense for the Thoughtful Investor – Howard Marks – 2011

Dream Big (Sonho Grande): – Cristiane Correa – 2014

Index Investing

Winning the Loser’s Game [Timeless Strategies for Succesful Investing] – (2nd Edition) Charles D. Ellis – 1993

The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns – John C. Bogle – 2007

The Clash of the Cultures: Investment vs Speculation – John C. Bogle – 2012

Fixed Income Investing

Corporate Bond Quality and Investor Experience – W. Braddock Hickman – 1958

Pioneering Portfolio Management – David F. Swensen – 2000

Company Management

Business Adventures: Twelve classic tales from the world of Wall Street – John Brooks – 1969

Master of the Game: Steve Ross and the Creation of Time Warner – Connie Bruck – 1995

The Essays of Warren Buffett: Lessons for Corporate America, 1st Edition – Lawrence A. Cunningham – 1998

The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy
– Robert G. Hagstrom – 1999

First A Dream – Jim Clayton and Bill Retherford – 2002

Jack: Straight from the Gut – Jack Welch, with John A. Byrne – 2003

How to Get Rich – Felix Dennis – 2006

Pleased, but Not Satisfied – David Sokol – 2007

Memos from the Chairman – Alan C. Greenberg – 2014

Limping on Water: My 40-Year Adventure with One of America’s Outstanding Communications Companies – Phil Beuth – 2016

Shoe Dog – Phil Knight – 2016

Other publications

Value Line – 1931-PRESENT

The Walter Schloss Archive – letters and articles c/o Elevation Capital – 1946-2012

Frank K Martin BLOG – 1971-PRESENT

How Inflation Swindles the Equity Investor – Warren Buffet (Fortune Magazine) – 1977

A Lesson on Elementary Worldly Wisdom – Charlie Munger – 1994

Guns, Germs, and Steel: The Fates of Human Societies – Jared Diamond – 1997

Berkshire Hathaway – Letters to Shareholders – Warren Buffett, Charlie Munger with Carol Loomis – 1977-2020

Wesco – Letters to Shareholders – Charlie Munger – 1997-2009

Psychology

Influence: Science and Practice – Robert B. Cialdini (4th Edition) – 2001

Thinking, Fast and Slow – Daniel Kahneman – 2011

We created this list because the articles and writings still remain relevant for long-term investors today. If you’d like to suggest another worthwhile link, please send us details in the comments below.