Since i Capital started in 1989, it has encouraged serious investing among its subscribers. It has also advised that there is no short cut to successful investing. Key factors like patience, discipline and the willingness to acquire the skills are important.
Due to our commitment to serious investing and our regular reminder that there is no short cut to success, our subscribers have often asked us what investment books we would suggest that would help them to improve their investing skills and knowledge. To assist them in their investing journeys, i Capital has compiled this list of investment books.
As a believer in value investing, our suggested list inevitably contains many books on value investing. We would expand this list as time goes by. As part of our long-held philosophy in not just catching fishes but also to teach our subscribers how to fish, we produce below a list of books that we have found to be useful.
Benjamin Graham
Valuation
Valuation Investing
Warren Buffett
More Successful Investors
Technical Analysis
by Benjamin Graham, David Dodd
Security Analysis
Published by McGraw-Hill
There are 6 editions to this classic. Different people like different editions. The 6th edition is the latest and contains many comments from fund managers. Many see this book as the 'bible' of value investing but it is a thick book and is full of accounting stuff. Reading it can be very heavy going, unless one is familiar with accounting but it is worth the effort.
by Benjamin Graham
The Intelligent Investor
Published by Harper & Row
Written by the same author, this book is less technical than Security Analysis but is no less useful. If an investor can master these two books, he or she would have already covered a big part of what value investing is all about. The book below touches on Graham's investment philosophy and his life.
by Benjamin Graham
The Memoirs of the Dean of Wall Street
Published by McGraw-Hill
There are a number of books on business valuation which often take a more modern approach than Benjamin Graham and look at the other issues of valuation like cost of capital, discounted cash flow, and others.
by Aswath Damodaran
Damodaran on Valuation
Published by Wiley
by Bradford Cornell
Corporate Valuation
Published by Business One Irwin
by Alfred Rappaport
Creating Shareholder Value
Published by The Free Press
by Tom Copeland,Tim Koller,Jack Murrin
Valuation Measuring and Managing The Value of Companies
Published by McKinsey & Company
by Seth Klarman
Margin of Safety
Published by Harper Collins
by Charles Brandes
Value Investing Today
Published by Irwin
by Janet Lowe
Value Investing Made Easy
Published by McGraw-Hill
by Janet Lowe
Benjamin Graham on Value Investing
Published by Dearborn
by Bruce Greenwald, Judd Kahn, Paul Sonkin, Michael van Biema
Value Investing
Published by Wiley
Books on Warren Buffett include the following. The list is not exhaustive. Unlike the time when our managing director was starting to research on Warren Buffett and there were very few publications on him, there is now a long list of books on Warren Buffett and his methods, and the list keeps growing.
The following books are not only useful for stock market investors but also for ordinary businessmen and company directors. There is much to learn from them in the way a business or company should be managed. The below listed books are also very useful to policymakers and regulators.
by Lawrence Cunningham
The Essays of Warren Buffett
Published by Lawrence Cunningham Group
by Roger Lowenstein
Buffett – The Making of an American Capitalist
Published by Random House
by Robert Hagstrom
The Warren Buffett Way
Published by Wiley
by Robert Hagstrom
Warren Buffett Portfolio
Published by Wiley
by John Train
The Midas Touch
Published by Harper & Row
by Mary Buffett, David Clark
Buffettology
Published by Rawson Associates
by Lawrence Cunningham
How to Think Like Benjamin Graham and Invest Like Warren Buffett
Published by McGraw-Hill
by Andrew Kilpatrick
Of Permanent Value
Published by AKPE
by Peter Lynch
One Up On Wall Street
Published by Simon & Schuster
by Norman Berryessa, Eric Kizner
Global Investing – The Templeton Way
Published by Dow Jones Irwin
by Philip Fisher
Common Stocks and Uncommon Profits
Published by PSR Publications
by Philip Fisher
Conservative Investors Sleep Well
Published by Business Classics
by Peter Tanous
Investment Gurus
Published by NY Institute of Finance
For charting and technical analysis, the classic is the book by Edwards & Magee. Since then, charting and technical analysis have mushroomed in popularity with the list of books on this subject growing every year. A person who masters the three books below would have understood the most important principles of charting and technical analysis and would be able to carry on their own.
by Robert Edwards, John Magee
Technical Analysis of Stock Trends
Published by John Magee Inc
by John J Murphy
Technical Analysis of the Futures Markets
Published by Prentice Hall
by Richard Teweles, Frank, Jones
The Futures Game
Published by McGraw-Hill
Conclusion
We think we have produced a very useful list of books, although not exhaustive, on value investing with a couple of others thrown in. It is certainly a precious list. We hope subscribers would take the trouble to read them. Go to the bookshop to hunt for some more.
If you find any useful book, we hope you would have the generosity to share it with the rest of us, together with your comments if possible.
We would also encourage subscribers to read up on financial accounting and economics. These 2 subjects are vital for successful investing.
