30 Investment Books for Beginners

1. One Up On Wall Street by Peter Lynch and John Rothchild

This guide to investing advocates for the approach of focusing on companies the investor knows and understands very well. It’s an empowering book that uses practical advice and anecdotes, as well as everyday observations about the stock market to encourage investors to trade with confidence.

2. The Outsiders by William N. Thorndike

This book looks at eight successful maverick CEOs who achieved remarkable results through unique strategies focused on capital allocation, disciplined decision making, and long-term thinking. Detailed case studies reveal the unconventional investment practices of these ‘outsider’ executives.

3. The Dhandho Investor: The Low-Risk Value Method to High Returns by Mohnish Pabrai

The author of this treatise teaches investors how to maximize returns and minimize risk. The book uses real-world examples and is inspired by the principles of the Gujarati word Dhandho, which means “business” or “wealth.”

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

This book by the founder of Vanguard Group promotes the idea of not trying to outperform the market by stock picking, but instead of investing in the overall market. The author recommends a buy-and-hold approach to investing and accumulating wealth long-term with low-cost index funds.

5. The Most Important Thing: Uncommon Sense for the Thoughtful Investor by Howard Marks

The author, a co-founder of Oaktree Capital, emphasizes risk management and discipline. Understanding the cyclical psychology of the market and patience are extolled as trading virtues.

6. Security Analysis by Benjamin Graham and David Dodd

This classic tome, originally published in 1934, is considered one of the best investment books for beginners, and has influenced countless investors, including Warren Buffett. The authors outline a system for evaluating the intrinsic value of securities through comprehensive financial analysis. They recommend analyzing balance sheets, earnings reports, and market conditions.

7. The Essays of Warren Buffett: Lessons for Corporate America by Warren Buffett and Lawrence Cunningham

Warren Buffett is one of the most successful investors of all time. He has written annual letters to the shareholders of Berkshire Hathaway, in which he offers insights into his investment philosophy, corporate governance, and risk management. These letters are compiled here.

8. Extraordinary Popular Delusions by Charles Mackay

This book is almost two centuries old. It explores the psychology behind fads, collective misconceptions, and economic bubbles. Through historic examination of various mass phenomena, such as the South Sea Bubble, witch hunts, and alchemy, the book elucidates how human emotions and irrational behavior can lead to widespread folly, and even disaster.

9. Where Are the Customer’s Yachts? by Fred Schwed

This 85-year-old collection of witty anecdotes and candid observations is a humorous but insightful examination of the investment industry that reveals the dangers of blind trust in financial markets, suggesting that investors develop discernment and self-reliance.

10. Reminiscences of a Stock Operator by Edwin Lefèvre

This semi-autobiographical novel is about a fictional character loosely based on the famous stock speculator Jesse Livermore. It paints a vivid portrait of the emotional and mental challenges of investing, and provides timeless lessons on market behavior and risk management.

11. Money: Master the Game by Tony Robbins

This book features insights from some of the world’s most successful investors, motivational anecdotes, and practical advice to comprehensively teach the reader how to achieve financial freedom. Complex financial concepts are broken down into actionable steps. Money management, asset allocation, and effective strategy are emphasized.

12. How to Make Money in Stocks by William J. O’Neil

This bestseller by the founder of Investor’s Business Daily contains practical tips, charts, and insights into market trends, and aims to empower investors to identify winning stocks through fundamental and technical analysis. It introduces the CAN SLIM strategy for long-term success.

13. Principles: Life and Work by Ray Dalio

The author, the founder of Bridgewater Associates, shares his foundational principles for success in work and life. He focuses on radical transparency and open-mindedness, combined with systematic decision making.

14. Common Stocks and Uncommon Profits by Philip A. Fisher

This book from 1958 is considered a seminal classic. It advocates for a long-term investment strategy that focuses on evaluating a company’s management, competitive advantage, and growth potential. In this book, the author introduces the concept of “scuttlebutt.”

15. A Random Walk Down Wall Street by Burton G. Malkiel

This book is written in a very accessible language, and uses engaging examples to help investors navigate the unpredictable seas of the financial markets. It enumerates several investment approaches, including index funds, and explores behavioral finance concepts.

16. Against the Gods by Peter L. Bernstein

This book traces the history of the concept of risk and risk management all the way from ancient times to modernity. It provides thought-provoking and edifying analysis of how key figures have shaped that field of expertise, and how risk, uncertainty, and decision making interact in everyday life as well as in finance.

17. Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger by Charlie Munger

A compilation of insights by a Berkshire Hathaway vice chairman and longtime partner of Warren Buffett. The book is composed of speeches, writings, life experiences of all kinds, and sparkles with the author’s inimitable wit as it accents the importance of multidisciplinary thinking and rationality and life and business.

18. The Psychology of Money by Morgan Housel

This engaging and psychological book is about the complex relationship between people and money. One of its key messages is that behavior has a lot more to do with financial success than intellect does.

19. The Manual of Ideas by John Mihaljevic

A comprehensive guide for investors seeking to discover unique investment opportunities through deep research and unconventional thinking. One thing any investor needs is a systematic approach to generating ideas.

20. You Can Be A Stock Market Genius by Joel Greenblatt

This book is especially useful for insights about investing in spin-offs, mergers, and restructurings. Thorough research and knowledge of company fundamentals is essential. Complex investment strategies are demystified using human and practical advice.

21. Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor by Seth A. Klarman

This is a very highly regarded guide on value investing.

22. Superstocks by Ken Fisher

Investment strategies that focus on identifying high-growth companies with significant potential for substantial gains. Help understanding market cycles and provides a framework for evaluating stocks based on their future growth prospects rather than past performance.

23. Dear Chairman: Boardroom Battles and the Rise of Shareholder Activism by Jeff Gramm

An examination of shareholder activism and how it impacts corporate governance, presented as engaging narratives about historic high-profile confrontations between investors and corporate boards.

24. Stocks for the Long Run by Jeremy Siegel

Considered a seminal work on how stocks have performed historically compared to other assets. Rigorous research and compelling data are presented to support the claim that equities consistently outperform other investment vehicles over time.

25. The Intelligent Investor by Benjamin Graham

Another foundational text in value investing that offers timeless strategies for navigating the stock market.

26. The Little Book That Still Beats the Market by Joel Greenblatt

This book presents the author’s “Magic Formula” that ranks companies based on return on capital and earnings yield.

27. Principles for Navigating Big Debt Crises by Ray Dalio

This book analyzes historical debt crises, offering insights into their causes and consequences.

28. Unshakeable: Your Financial Freedom Playbook by Tony Robbins

A solid framework for achieving financial security and independence.

29. Rich Dad’s Guide to Investing by Robert T. Kiyosaki

A compelling perspective on building wealth through smart investing and the right mindset.

30. The Bogleheads’ Guide to Investing by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf

This book promotes low-cost index fund investing, emphasizing the importance of diversification, asset allocation, and minimizing fees. It provides practical advice on retirement planning, tax-efficient investing, and developing a long-term strategy.