Investment Book Review - Analyst Shares Top 5 Reads for Investors
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- Опубликовано: 26 июл 2024
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Highlighted Investing Books
- 1:18 : A Random Walk Down Wall Street, by Burton G. Malkiel
- 2:52 : The Education of A Value Investor, by Guy Spier
- 5:28 : The Intelligent Investor, by Benjamin Graham
- 7:35 : Easy Prey Investors, by Al & Mark Rosen
- 10:02 : One Up on Wall Street, by Peter Lynch
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Today, I share my favourite investing books. :)
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DISCLAIMER:
This channel is for education purposes only and does not constitute financial advice - Richard is not responsible for investment actions taken by viewers. Please seek out a registered advisor if you require assistance (while Richard is a registered portfolio manager at WDS Investment Management, he does not provide advice through The Plain Bagel, which is not affiliated with his employer).
Happy Friday everyone! The first 100 people to go to www.blinkist.com/theplainbagel will get unlimited access for 1 week to try it out. You'll also get 25% off if you want the full membership.
I'd recommend "More Money than God" by Sebastian Mallaby. It's about the history of hedge funds and I found it to be very entertaining.
Quick question Richard! You mentioned creating a checklist to go over everytime you analyze a stock. Would you mind sharing your list?
I love the intro 😂
Next decoration is... The bookshelf!?!?! 🤣🤣
Hey man someone else also commented on one of your other videos concerned about what looks like a lump on the right side of your neck and am hoping you see this and get it checked out
@@LionsHoney13 you can see it on 0:25,
But is that even a place for thyroid?
Yeah he might have something inside his body, I mean… should I say it? 😅
the fact you have a book there on forensic accounting increases my respect for you a lot. It seems so many investors these days, even institutional ones, forget to actually read through the details of the statements and make rational realistic decisions based on them.
Try 'The Psychology of Money', by Morgan Housel. Another non-technical one which focuses more on your approach to investing and avoiding the noise of Wall Street.
Yes I like this one as well. I really, really appreciate the non-critical lens of how people spend money. So refreshing in the personal finance space.
I really enjoyed The Psychology of Money', by Morgan Housel.
Reading that one rn, love it!
Loved this book, just finished it
I really like "Corporate Finance: Investment and Advisory Applications" by Patrick Boyle... very easy read....
JK it's super academic but I really like Patrick and will promote his book anyways
I've wanted a video like this forever. Thank you so much for this list of helpful resources.
your channel bring so much value, appreciate it. I am a fan of value investing !
2 videos back to back?! Awesome stuff as always Richard! Much love 😎
Thanks for the recommendations. The forensic accounting book sounds really fun. I’ll read that one next.
THANK YOU for the books and the channel.
As always a very valuable video thank you so much
"The Psychology of Money" by Morgan Housel is excellent, its more of a personal finance book rather than strictly investing. Its 18 short stories on everything money/finance related. Highly recommend, it is a quick and easy read.
2 videos in less than 24hour!? Loving them
I love a book review! Thanks Richard. 👍
One Up On Wall Street is great! To add, I would recommend Joel Greenblatt’s books The Little Book That Beats the Market (tips for passive investing on steroids) and You Can Be a Stock Market Genius (tacky title, but the content is good. Bit hard to get through if you’re a complete beginner to investing though)
The two books that I recommend are:
1) Psychology of Money by Morgan Housel
It’s super short but very informative and non-technical for less savvy readers. I recommended it to my sister who doesn’t know anything about investing and she absolutely loved it!
2) The Black Swan by Nassim Taleb
Very well-written book that was so effective that I actually changed my investment strategy as the result of it!
Thanks for this video
Thank you Richard, great video as usual. I would recommend “The most important thing” by Howard Marks.
I'm reading "rule #1" by Phil Town. It has been pretty helpful to give you the basics on some of the aspects to pick a good stock without having a lot or technical knowledge about finance. It also makes pretty clear some important concepts like PE ratio, ROIC, EPS, etc.
Woah! Two PB videos in a day, Christmas came early!
I was waiting for the Benjamin Graham reference and I was not disappointed. I'd probably of gone with security analysis though. One up on wall st is also fantastic 👏
finally an excuse to buy a Kindle, thank you for the recommendations!
I LOVE this video!
Thinking, fast and slow Daniel Kahneman. This was my breakthrough book in university back in the days.
*Richer, Wiser, Happier.*
The author interviewed some of the best value Investors over the last century (Buffett, Munger, Templeton, Pabrai, and many more).
I think it's an important book for anyone who wants to understand the philosophy behind value investing.
Awesome content! After learning all these basic introductory books to investing I am more interested in accounting books for investors. Ideally if they can help me analyse US and European companies besides Canadian ones. Currently reading Valuation (McKinsey), do you know other good such type of books? Thanks
This will be really helpful for a novice like me. Thanks 👍
Hope to see another book recommendation list in the future.
I have been reading through Investment philosophies by Aswath Damodaran and think that it is a good book to get a basic introduction to different investment philopsophies, such as value investing, technical analysis, hedge funds investment etc
Secondly it also provides data on the performance of each strategy which is really good to get some perspective on what will work for the individual investor
It is a bit of a academic text book and can be a bit boring at times, but it provides good insight into pros and cons of each strategy
Actually reading a random walk right now, it's great wisdom.
I liked The Snowball which is an autobiography about Warran Buffets. Much less to do about investing but it is still a great read!
Peter Lynch is my favorite investor of all time. I listened to all his books via audio books.
My favourite book on macroeconomics is the Holly Grail of Macro Economics, phenomenal book in the Japanese balance sheet recession
I would add "Fooled by Randomness" to the recommendation list.
I want one of those lamps!
The Zurich axioms, by Max Gunther is pretty good. It's about basic principlas, like not getting too greedy, he explains the idea and tell stories so we get how bad or good things can be. :)
A random walk is next on my 'to read' pile!
My all time favorite "Traders, Guns and Money: Knowns and Unknowns in the Dazzling World of Derivatives", great insights and crazy stories.
@@rakeshrena9200 scam?
@@jenglot2011 yes
Not an investing book, but The millionaire next door is a classic
Hey Richard. I have a collection of investing books myself, including some of these excellent recommendations. As a fellow Canadian, I was wondering if you have any suggestions for more Canadian books?
All by philip mirowski (also theyre all 10s)
1. The knowledge we have lost in information
2. Never let a serious crisis go to waste
3. More heat than light
4. Machine dreams
5. Against Mechanism
A book that I loved to reread on Personal Finance is "The Psychology of Money" by Morgan House
Random Walk should be 1-5. Thanks for this video.
Diamonds in the dust. From a different market and will definitely have names that you would not have heard but great principles and insights
The book which made both investing and money management 'click' for me was Geroge S Clason's 'The Richest Man in Babylon'. Clason wrote a series of parrables on understanding 'how money works' based on his own business which he sold to banks during the Great Depression which, in turn, were collated and printed into the book we know today. I would love to know Plain Bagels' opinion on this work.*
* It's a short read (~100 pages) and succinct. Would reccomend!
Hello Plain Bagel, I think a good idea for your next video is to share your thoughts about Investment analyst / Equity research / Portfolio management jobs. For example how does your day look like? What personality traits/types fit this kind of jobs best (according to you)? How do you see the future of this kind of jobs? What do you like / don’t like about it?
This is probably more of a recommendation for "advanced" retail investors that's interested in credit investments, but I would really recommend Veronesi's book on fixed-income securities (i.e., "Fixed Income Securities: Valuation, Risk, and Risk Management"). I know your channel and viewers are mainly interested in equity investments, but this is definitely a worthwhile read for those that's curious about the credit market.
I really good one for beginners is “Why stocks go up and down” By William Pike
I would recommend Debt: The First 5,000 Years
by David Graeber to see just how much debt influences us
Can you do another book review please? There are so many book out there and I don’t know which on are worth it. I need to make sure they have the plain bagel stamp of approval lol.
Love the book reviews have 3 out of 5 books you recommended.
Which ones
@@kirilmihaylov1934
A Random Walk Down Wall Street, by Burton G. Malkiel
The Intelligent Investor, by Benjamin Graham
One Up on Wall Street, by Peter Lynch
@@Premium_Water intelligent investor is the best one
You had me at accounting.
The little book of calm is likely a good read for many today's investors.
As for the content ideas, maybe the review of the structured products as a class could be a nice addition to your general investing portfolio of videos. As far as I aware they not really popular in US, as massive risk disclosure are mandated, but in emerging markets and europe they are more avaliable and quite a trap for an unexpirienced people.
Best wishes from Russia ^_^
Much respect for including One Up On Wall Street in this list. Peter Lynch's work doesn't get studied enough in this era of fraudfluencers 🙅♂️
I'd add... The Boglehead's Guide to Investing and The Common Sense Guide to Investing.
Both quickly explore the marketing noise, excessive management fees, and dangers of speculation.
There is a more modern version of the intelligent investor from the 70s with a commentary from the early 2000s. Still a bit old but I think some stuff is timeless.
I can also recommend the intelligent asset allocator. While the actual recommendation is a bit US-centric and probably outdated, it explains the concept of asset class diversification quite well
What's your take on lifecycle investing, arguing in favor of leveraged positions along the same lines of lifecycle funds, but more extreme?
Peter Lynch shows you don't need risky tech stocks to make money, his best performing buy was Dunkin' Donuts.
Learn to Earn is another one from Peter Lynch (though I think through a ghostwriter). Basically his version of Value Investing for Dummies but that's not a bad thing.
My recent favorite is “The Most Important Thing” by Howard Marks. I’m more on the quant side so my investment literature tastes aren’t the same. I’ll have to check out all these books!
As a fellow interested quant: What other books have you read that you find this better than?
@@mr-boo I read the Gregory Zuckerman book about Jim Simons, The Physics of Wall Street by James Owen Weatherall, Ed Thorpe’s biography A Man For All Markets, and liked all of them. I’m trying to build up to some of the Ernie Chan books (Machine Trading, Quantitative Trading, etc) but I’m just not really there yet.
@@mr-boo
"How do you do, fellow quants"
🧢 🛹
@@happens4656 Thanks, that's useful information! :)
@@jamesmeow3039 Doing mighty fine, why thank you! How are you yourself? Do you have any books or articles you'd like to share as well? :)
Other recommendations:
- Poor Charlie's Almanack (by Charlie Munger)
- any book by Howard Marks
- any book by Joel Greenblatt
Poor Charlie's Almanack is my favorite, but note that it is not an easy read and includes several non-investment topics.
Richer, wiser, happier by William Green is great!
random walk was great!!!
I spent almost two years at Graham's book reading! It's really deep and full of data, but still a great book to read - it was the only one I've read from your list. I'm interested in that one about Wall Street. Thanks for your great content!! 😊
The dhandho investor by mohnish pabrai is a very beginner friendly book. Also very good read for all levels
Between 'Security Analysis' and 'The Intelligent Investor', which would you recommend? I have my dad's copy of the former, and I heard that The Intelligent Investor is a less formal version of the former.
I've only read one investing book cover to cover: The millionaire next door. Not so much an investing strategy book as it is a philosophy book, but it's the cornerstone of my knowledge
Great one!
Any opinion on "Trade like a stock market wizard"?
I would like to hear your thoughts on DeFi and how such a system can co-exist with traditional monetary policy done by a central bank.
I read the Millionaire Next Door, and I think it's a good book on general budgeting and investing advice.
I recommend you "Warren Buffet and the interpretation of financial statements". Before I've read it I didn't have a consistent approach to fundamental analyisis, this book combined "the pieces of the puzzle" and added something more
This book is amazing, im currently reading it now
Irrational exuberance by Robert Shiller. Very relevant in this age of GME, cryptocurrencies, weed stocks, etc.
Margin of Safety by Seth Klarman is basically a must own if you’re a capital manager of any kind. You won’t find a physical copy for less than $700 USD though so good luck lol
Which book has the most pictures?
Morgan Housel - The Psychology of Money
MORE 👏 BOOK 👏 REVIEW 👏
Very informative video, absolutely love your content and as a current university student of Economics & Finance I cannot wait to read Easy Prey Investors on my E-Reader (definitely recommend one).
My title I would definitely check out is ‘Coined’ by Kabir Sehgal. The author by profession is actually a investment banker and Jazz musician ahah. This title also dives into the history of finance, specifically the exchange and how money originated from the biological world.
BUT, the most fascinating part of this is diving into the topic of Neuroeconomics, really understanding how consumers and retail traders work on a neuroscience level.
One of my favourite parts is that there is a study on anticipated gain, and essentially someone who is about to be paid from work has the same brain activity as someone who is about to take a hit of cocaine.
Very weird I know, but overall this title is a medium read, I’d say the first chapter is a bit to get through, but afterwards it’s really enjoyable.
Debt: The First 5,000 Years by David Graeber is great book to check out if you liked "Coined"
any thoughts on THe Principles by Ray Dalio?
I have only read investing books from Ray Dalio {Principles & Debt cycles} and from Robert Kiyosaki.
Do any of these books apply for markets outside of the US?
How about books of Marvin Minervini? Are they any good? They quite expensive where I'm from but I really want to learn.
All of John Bogles books!
What do you think about the Warren buffet stock portfolio written by Mary buffet David Clark?
Dhandho Investor by Mohnish Prabrai. Really cool new read . Would love to hear ur comments on it. A great audiobook too...
Some books that are must-reads for all investors:
Quant Investing:
1. The Little Book That Beats the Market
2. Acquirer's Multiple
3. What Works on Wall Street
Value Investing:
1. Dhandho Investor
2. The University of Berkshire Hathaway
3. The Essays of Warren Buffett
4. Security Analysis
Growth Investing:
1. Common Stocks and Uncommon Profits
Macro Investing:
1. Alchemy of Finance
Passive Investing:
1. Trillions
Do you guys write notes when reading these type of books
You can read 'Richer, wiser, happier'. It was first published a few months ago, but it was very inspiring and can be read by people who are not into investing.
I found it “meh”. To each their own.
Market Wizards is a good series. Easy to read and insightful.
yeah, except its about fucking trading not investing .... geez
@@buckyfanksy Have you read it?
I am not into trading and there is planty of info on stock selections, psychology and ins and outs of the markets.
As someone who did their undergrad in Accounting and is looking for a career change into investment banking I was about to click away when you mentioned the book😅😂😂
I need your opinion on The Simple Path to Wealth by J. L. Collins plzzzzzz
I like 'Economics in one lesson'
Definitely would like to see a video tax tips if you know any.
If you like accounting tricks and how to find them i also recommend: Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports
I know it might not get as many views but thank you for being practical and informative without all the “LOOK AT ME” “EXPLOSION INCOMING” “WATCH RIGHT NOW THIS IS HAPPENING” junk I used to love watching Charlie at zip trader but recently it’s hard to get through a video without hearing short squeeze or hedge fund amc bullshit 50 times.
What do you think of Money: Master the game by Tony Robbins?
Options as a Strategic Investment
I wish to have more topics about accounting frauds
100 to 1 In The Stock Market is also an amazing book.
Great list! I'll add "The Little Book That Builds Wealth" by Pat Dorsey. A GREAT book on understanding moats & competitive advantage.
I liked John boggles the little book of common sense investing
Pragmatic Capitalist : What every investor needs to know about money and finance by Cullen Roche. Great book discussing from a macro perspective. if interested should also check out his paper on monetary policy and its impacts
The Little Book That Beats the Market by Joel Greenblatt is an intresting read