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For a long time, I worked as an investment broker before changing careers and becoming an airline specialist and entrepreneur.
For a great many years, among finance professionals, the adage “many wolves in sheep’s clothing” has been true. People who put their money into something they don’t understand are setting themselves up for disappointment.
I compiled this list of the best investment books because they are more than useful; they are necessary. Here you will find three books for beginners, as well as books on the stock market in general. I specifically mention Kahneman and Taleb as two authors that everyone should read, even if they are experienced investors.
Stocks, mutual or real estate funds, and other types of investments don’t require you to be an expert. To avoid falling for traps or being taken advantage of by greedy brokers, you need to know where you are going. This is also valid when you are doing things like buying a house or avoiding the debt trap.
A comment is the best way to let me know what you think about my list.
Best Investing Audiobooks for Beginners
Thinking, Fast and Slow
by Daniel Kahneman
If you’ve read this book or know the author (a Nobel Prize winner), you may be wondering what he does on a list of the best audio books for investing. In fact, in the strictest sense, this book is not about investments.
But it’s a book every investor, novice or seasoned, should read, as Kahneman’s psychological approach to economic decisions will help you avoid making disastrous decisions for your equity.
The author, in an engaging way, introduces us to two types of human thinking: one that is fast, intuitive, and emotional, and another that is slower, deliberate, and rational. Kahneman illustrates the exceptional powers of rapid thinking, its shortcomings and vices, and the impact of instincts on our judgments. Loss aversion, strategic overconfidence, the difficulty of anticipating what will make us happy in the future, and the difficulty of accurately detecting the dangers in investments can only be understood if we understand how both types of reasoning affect us.
Skin in the Game: The Hidden Asymmetries in Daily Life
I’m an avowed fan of Taleb’s books (although I disagree with some of the things he writes on his Twitter profile). Skin in the Game: The Hidden Asymmetries in Daily Life is another one of the books in the phenomenal Uncertain series, and which, along with Black Swan and Antifragile, should be on every investor’s shelf. Aside from enlightening content, Taleb has a way of writing that keeps your eyes peeled.
If the previous book (Thinking, Fast and Slow), helps avoid the traps of our own mind, Skin in the Game: The Hidden Asymmetries in Daily Life will help you spot rogues and people whose advice you should shirk anyway when it comes to your money. In general, people who don’t risk their own skin.
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns
by John C. Bogle
A classic guide to trading wisely in the financial market. John C. Bogle, the founder of the legendary American investment firm Vanguard, reveals his performance secrets in this book, detailing what he considers the simplest and most efficient strategy: index funds.
This book will revolutionize the way you think about investing by providing detailed instructions as well as practical suggestions. Lessons like:
- How to build a diversified, low-cost portfolio free of the risks associated with specific companies, and industry turnover.
- How to capitalize on the power of interest returns while avoiding cost tyranny.
- What experienced investors and scholars such as Warren Buffett, Benjamin Graham, Paul Samuelson, and Burton Malkiel have to say about investing.
Best Audiobooks on Stock Trading
Common Stocks and Uncommon Profits and Other Writings
by Philip Fisher
Philip Fisher is considered one of the greatest investors of all time. His investment concepts, introduced over sixty years ago, are still used and studied by experts and were an influence on Warren Buffett.
Fisher’s three major works are included here: Common Stocks, Extraordinary Earnings (1958), Conservative Investors Sleep Easy (1975), and Developing an Investment Philosophy (1980). The new edition of the book features an introduction written by the author’s son, fellow investor Kenneth Fisher, who adds insight to his father’s work.
The Little Book That Beats the Market
by Joel Greenblatt
The title of this book may look like clickbait, but the author’s résumé reduces any suspicion. Joel Greenblatt is none other than the manager behind the billion-dollar investment firm Gotham Funds. This company was one of the investors in Scion Capital, Michael Burry’s firm that achieved extraordinary returns during the 2018 crisis.
The formula presented in the book is not complicated and anyone with basic knowledge of balance sheets and financial indicators can use it without any problems. I’ve used it myself for various investment decisions and I don’t regret it.
The Intelligent Investor
by Benjamin Graham
Benjamin Graham has influenced thousands of people around the world. His ideas help investors avoid costly mistakes and show them how to make long-range plans. This made “The Smart Investor” a stock market book-benchmark since 1949.
Based on his approach, several of Graham’s disciples — most notably Warren Buffett, perhaps the most famous of all time — still practice this method with extraordinary success today. Despite their wide spread around the world, Graham’s lessons retain their validity thanks to the extreme (and not always rational) fluctuations that occur on the world’s stock exchanges. As there is no real possibility that such fluctuations will not occur, I leave here my most enthusiastic recommendation from this brilliant and crystal-clear book. Enjoy it!” ― Arminio Fraga, former president of the Central Bank of Brazil
Conclusion: The Best Audio Books for Investing
In another article, I have listed both Warren Buffett’s investment methodology books and the best books recommended by this famous and successful American investor. My Personal List of Books Recommended By Warren Buffett
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Levi Borba is the CEO of expatriateconsultancy.com, creator of the channel Small Business Hacks, and best-selling author. Subscribe to my articles (for free) and receive (also for free) the ebook “The Blueprint for First-Time Business Owners”.