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Profitus news Books About Investing and Money - The Best List

2024-07-04 06:00:00


Books About Investing and Money - The Best List

Books are something we become familiar with even before we can speak. As babies, we listen to relatives read stories, and as we grow older, we start picking up books ourselves. They can help us escape from daily worries, provide comfort, and even teach us. There are many great books in the world that everyone should read. Today, we want to talk about non-fiction, specifically books about investing and money. Books about money can deepen your financial literacy, and provide knowledge on financial management and planning. Books about investing are useful for anyone interested in the topic, planning to invest, or already investing!

Reader-Rated Top 10 Best Books About Investing

Many economists, renowned financial experts, professors, and scientists around the world delve into the topic of money every day. And rightly so - money plays a crucial role in our daily lives: it is both a reward and a tool to achieve our goals or dreams. We encounter finance every day, whether we want to or not: buying coffee, refueling the car, choosing weekend entertainment, or enrolling in professional development courses. To better understand money management and investing, we want to present you with 10 books on these topics. Each book about investing is selected based on reader ratings and reviews.

  1. Burton G. Malkiel "A Random Walk Down Wall Street"

The all-time bestseller on investing – Burton G. Malkiel's "A Random Walk Down Wall Street". This book is recommended by the most famous investors in both Lithuania and the world. It introduces the most important investment terms, the most popular portfolio management strategies, and the most common mistakes. Burton G. Malkiel writes about investing in a simple manner, without any convolutions, making this book a great springboard into the waters of investing in general.

  1. Morgan Housel "The Psychology of Money"

Second in reader recommendations and reviews is Morgan Housel's book about investing "The Psychology of Money". In this book, the author argues that success in investing is determined by proper participant behavior and good decisions made at the right time. M. Housel emphasizes that very important decisions are made not after careful consideration but during meetings where different personalities, their egos, pride, marketing, and other tricks play a significant role. The author explains investing in simple terms, making it a perfect read for beginners interested in the topic of investing in general.

  1. Benjamin Graham "The Intelligent Investor"

Benjamin Graham – a renowned British-born financial analyst, investor, writer, and professor who lived and worked in the USA. "The Intelligent Investor" is his second book on finance, written based on his long-term experience in stock trading. The book systematically presents the main criteria for evaluating financial instruments, selection, portfolio formation, and risk management. B. Graham advises on how to choose valuable investments and recognize those that yield lower returns. This investing classic is a must-read for any investor, but it's also great for those who want to start independently investing in more complex financial instruments.

  1. Burton G. Malkiel, Charles D. Ellis "The Elements of Investing"

Burton G. Malkiel and Charles D. Ellis have compiled the most important information about investing in "The Elements of Investing". This concise book covers the basic rules of investing, provides practical advice on saving, investing, and using strategies, explains how to stabilize risks, and highlights mistakes to avoid. Although this book was published quite a while ago, the information and strategies offered by the authors are suitable for almost all investors!

  1. John C. Bogle "The Little Book of Common Sense Investing"

John C. Bogle is considered a true veteran of the mutual fund industry. In his book, the author discusses what strategies to choose for profitable mutual fund investments, what fees to expect, and what every investor should know. J. C. Bogle does not shy away from discussing societal myths, deceptions, and explains how to invest simply and sensibly. The author also presents the perspectives of other notable investors, making it an excellent book for anyone interested in index funds.

  1. J. L. Collins "The Simple Path to Wealth"

A highly popular and humorous book, J. L. Collins' "The Simple Path to Wealth" is quite unique. It originated from letters the author wrote to his daughter about financial and investment matters. The humorously explained complex financial concepts become quickly understandable and memorable, and the wide range of topics provides a close look at finance and investing. The book explains how stock markets work, why stock prices fall, the general strategies, common mistakes, and what financial independence is. This book encourages confidence and proper investment practices.

  1. Justin Fox "The Myth of the Rational Market"

This 2009 bestseller about finance, written by renowned American journalist Justin Fox, summarizes the most notable economic and financial research over several decades, exploring the dynamics of financial markets. The author argues that financial markets are essentially unpredictable, and the prices and fluctuations of financial instruments are determined by fundamental factors. "The Myth of the Rational Market" makes one reconsider and thoroughly evaluate chosen investment strategies. This book is suitable for both beginners and experienced investors.

  1. Michael Lewis "The Big Short"

"The Big Short" – written in 2010 by Michael Lewis, who tried the profession of a Wall Street broker. This book became a New York Times bestseller the same year and was soon adapted into a film, reaching almost the entire world. The book explores the origins of the global financial crisis, analyzes even the most complex investment instruments, their history, and how they affected the fates of investors, allowing some to profit while others were left in despair. This book will be enjoyed by anyone wanting to learn more about financial instruments and their impact.

  1. Thomas Stanley, William Danko "The Millionaire Next Door"

Written by two business experts, writers, and theorists, this book attempts to reveal the common traits of millionaires. These researchers analyzed over a thousand millionaires living in the USA, carefully studied their lives, behavior, and traits, and concluded that many of us have a completely different image of wealthy individuals: we imagine them living in luxurious, castle-like homes, driving the latest cars, and having at least five more in the garage, spending more time on vacation than working, and allowing themselves to buy anything they dream of. T. Stanley and W. Danko noticed that this perception describes not the true millionaires but those who are merely trying to become such. In "The Millionaire Next Door," the writers detail the habits and behaviors that helped the wealthy earn and, most importantly, preserve large amounts of money.

  1. Alice Schroeder "The Snowball: Warren Buffett and the Business of Life"

Readers rank Alice Schroeder's book about the world's most famous investor Warren Buffett in the tenth place. Buffett, over his long career, has managed to earn a much higher financial return than the market average, an achievement few investors worldwide have matched! This highly unique biographical book was compiled with the participation of the protagonist himself, Warren Buffett. This book will captivate true fact and biography enthusiasts interested in the secrets of investment success.

Other Popular Books About Finance

Besides books about investing, readers also highlight several other books about finance in general. These books delve into not only investing but also economics, saving, personal financial management, and a broader view of the economy as a whole. We want to highlight a few more books that we believe will be useful for those interested in investing.

George S. Clason's "The Richest Man in Babylon" – a book composed of several stories depicting life in ancient Babylon. The main character Arkad reveals the rules and actions that made him the richest man in Babylon. This book can serve as a great foundation for personal financial management.

Ray Dalio's "Principles for Navigating Big Debt Crises" – as the title suggests, this book examines crises and their management, the causes of financial system collapses, and discusses what governments and banks should do to maximize protection against financial system collapse. The author is considered one of the best investment specialists, dedicating his life to market analysis.

John Howkins' "The Creative Economy" – an excellent book discussing the relationship between creativity and the economy. The author explores how economic value is created from creativity, the portion of the economy it comprises, and how it functions.

MJ DeMarco's "The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime" – a book that helps trigger a mental revolution. The author asserts that quick wealth is not just a myth and can indeed be achieved quickly with the right mindset and actions. Readers are said to find their path to wealth in this book.