My collection of books. I hope it covers almost every important investment books. Any feedback is welcome
The Five Rules For Successful Stock Investing - Pat Dorsey
One Up On Wall Street - Peter Lynch
Beating the Street - Peter Lynch
The Dhandho Investor - Mohnish Pabrai
The Intelligent Investor - Benjamin Graham
The Little Book That Still Beats The Market - Joel Greenblatt
Value Investing and Behavioural Finance - Parag Parikh
The Little Book That Builds Wealth - Pat Dorsey
Quality of Earnings - Thornton L. O’glove
Value Investing - James Montier
Contrarian Investment Strategies: The Psychological Edge - David Dreman
You Can Be a Stock Market Genius - Joel Greenblatt
Money Masters of Our Time - John Train
Benjamin Graham and the Power of Growth Stocks - Frederick Martin
Super Stocks - Kenneth L. Fisher
Valuation: Measuring and Managing the Value of Companies
The Thoughtful Investor - Basant Maheshwari
Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports - Howard M. Schilit
The Little Book of Behavioral Investing - James Montier
What Works on Wall Street - James P. O’Shaughnessy
Real Money - Jim Cramer
The Little Book of Valuation - Aswath Damodaran
The Warren Buffett Way - Robert G. Hagstrom
Reminiscences of a Stock Operator - Edwin Lefevre
The New Buffettology - Mary Buffett and David Clark
The Manual of Ideas - John Mihaljevic
The Little Book of Value Investing - Christopher Browne
Security Analysis - Graham & Dodd
Stocks For The Long Run - Jeremy Siegel
Free Capital: How 12 Private Investors Made Millions in the Stock Market - Guy Thomas
The Art of Value Investing: How the World’s Best Investors Beat the Market - John Heins
Value Investing Made Easy - Janet Lowe
The Future for Investors - Jeremy Siegel
Value Investing from Graham to Buffett and Beyond
Warren Buffett and the Art of Stock Arbitrage - Mary Buffett and David Clark
Margin of Safety - Seth Klarman
The New Value Investing: How to Apply Behavioral Finance to Stock Valuation Techniques and Build a Winning Portfolio - Howard C. Thomas
Common Stocks and Uncommon Profits - Philip Fisher
Also Berkshire Hathaway Letters to Shareholders
I am an avid reader and my advice to everyone is to read atleast one investment book every month (You can reread your fav books if not a new one). Learning should be a continuous process to remind us every time about our investment philosophy.
I have pre-ordered the following two books in amazon. It is just Rs.225 per book.
The Little Book of Trading: Trend Following Strategy for Big Winnings - I went through the Contents. It is not completely about technical investing. I hope it wud be a good read.
The Little Book of Sideways Markets: How to Make Money in Markets that Go Nowhere.
Tell me if you even understood the book? I could barely get through a couple of chapters before i gave up. What is the takeaway from this book if you managed to read it?
yes I’ve read it and I rank it as one of the best books on contrarian investing out there. It’s a bit of a hard work though, I know what you’re saying.
I think it’s best to read it after The Black Swan to tie in the ideas better.
The book has three main threads intervowen together:
Daoism and the roundabout thinking process
Austrian economics and market distortions
Tail risk hedging
In fact I think this is ordered from the most important to the least, but unfortunately most people read the book as if the Tail risk hedging part is the most important and the Dao philosophy the least. I think that’s the wrong way of approaching this book.
My main takeaway was that one needs to be convinced that markets distortions happen and once you’ve spotted some market distortions then it’s only a matter of time before the distortions correct. Note that market distortions are both on the upside and the downside. The longer it takes to correct, the more spectacular will be the correction. However since it can’t be timed, the ideal thing is to patiently keep making very small contrarian bets and keep losing small amounts to eventually make up for the big win. The more you lose, the more you’ll eventually win (yin/yang). Author has taken the Tobins Q as a valuation metric but I don’t think that you are required to use it, any indicator which shows that reality is different than the valuation will do.
By far my biggest learning was Taoism, being able to see the opposites as a whole and maintain the calm and equanimity (in investing and otherwise). This can’t be explained in words, but my deepest gratitude towards this book is for this. I urge you to pick up a good translation of Tao Te Ching (I have one by Stephen Mitchell, just Rs 133/- on amazon.inhttp://www.amazon.in/Tao-Te-Ching-Stephen-Mitchell/dp/8183282504/ref=sr_1_1?s=books&ie=UTF8&qid=1486106158&sr=1-1&keywords=tao+te+ching ) and read a chapter every day and apply it to investing. I guarantee you it’ll have a big effect, as it has had on me. (And not just investing!)
One of the most useful books on Fundamental Analysis is actually not an investment book at all – it is Michael Porter’s ‘Competitive Strategy – Techniques for Analyzing Industries & Competitors’.
No company operates in isolation, and its performance is determined not only by what it does, but also by the surrounding environment. How does one analyze changing industry dynamics, actions of competitors, customers, suppliers and so on? After all, the success or failure of management’s strategy is the result of a complex interplay of all these forces, and a lot more. One can analyze financial statements and differentiate the wheat from the chaff, but the statements are only the end result of the management’s actions, which in turn depend on the overall context in which the company operates. Porter’s book provides a systematic framework which can be used to analyze any industry – the product the business produces and various players operating in it. The book provides a basic foundation on which an investment thesis in favor of a company can subsequently be built.
I strongly recommend this book to all those interested in Fundamental Analysis.
yes I’ve read it and I rank it as one of the best books on contrarian investing out there. It’s a bit of a hard work though, I know what you’re saying.