Choosing a collection of investment books for me to read on holidays is one of my favorite things to do. Have you a favourite investment book to share with our readers? Over the last two years, I have been reviewing investment books. I thought this was a good time for you to consider which are the best investment books for you.
If you have any favourite investment books, please share them in the “Comments” section. This way, you can become part of the Financial Mappers community. We should all share our knowledge and become better investors.
I have divided by books into three types:
1. Inspirational – They will make you motivated to invest
2. Knowledge Based – Specific information on investment topics
3. Investment Gurus – The source of wisdom
Inspirational Investment Books
I have grouped these three books as inspirational. They are the motivators which will move you to do great things with your money. Not only are they informative, they are a delight to read. These books are for those who want to get in the right frame of mind about money management.
Twenty Good Summers by Martin Hawes
I still remember being on holidays in New Zealand. I came across this fantastic book called “Twenty Good Summers”. The sub-title is
“Work less, live more and make the most of your money”.
Who could want for more than that? I call this book inspirational, because the message is universal. You don’t need to live in New Zealand to enjoy what the author, Martin Hawes has to say. If you want to have twenty good summers, re-evaluate what is important to you now and in the future. Once you have decided on your priorities, then Martin will guide you through the process. This book is of a very general nature. The author does not try to influence your investment style. He gives you the pros and cons of each choice.
These books are a good place to start with your holiday reading.
Get a Financial Grip by Pete Wargent
My second choice for inspirational investment books is “Get a Financial Grip”. It’s the heading I find inspirational.
Which one of us does not need to get a financial grip at times? It’s so easy to confuse your wants and needs. The author, Pete Wargent, achieved his financial freedom by the age of 33. He has gone on to be a very successful investor and author. This is a man who will inspire you to do great things with your investments.
Not only does Pete Wargent give you the mind set to change your financial future. He gives down to earth simple explanations and choices about how you may achieve your goals. If you start early enough, you don’t need to earn any more than an average income to achieve financial freedom.
The Behaviour Gap – Simple Ways to Stop Doing Dumb Things with Money by Carl Richards
This American author is famous for sketches using a Sharpie felt pen.
Not once in his book, will he try to sell you financial products or services. This book is about you and how you need to focus on the important things in your life. In his book he states:
“Financial plans are worthless, but the process of financial planning is vital”
If you want to stop doing all those ‘dumb things’ with money, this is the book for you. And you can have a smile as you study his famous sketches. The relationship between money and dumb things is quite humorous.
Knowledge Based Investment Books
These books will serve as reference books when you need specific information. Regardless of how long you have been investing, you can never have too much expert advice.
Trading Secrets – Killer Trading Strategies by Louise Bedford
In Australia, we are spoilt for choice when it comes to share trading books. Australia has many world recognised experts in the field of share trading. I chose this book as my favourite because I believe it is the best book to get any person started. But these strategies work for both the novice and the experienced investor. Sometimes we need to go back to basics rather than looking for ‘the next best thing’.
Other Great Investment books on Share Trading
I am an experienced share trader and share investor. Some people will say they are different. I believe you can be both. For those of you who want more, read my article Favourite Share Trading Book Authors. Each of these authors have their own websites with loads of free information. This is a list of the authors and some of their books:
- Louise Bedford – The Secrets of Candlestick Charting, Trading Secrets
- Darryl Guppy – Guppy Traders, Trend Trading, Guppy Trading
- Allan Hull – Invest My Way, Trade My Way, Active Investing
- Colin Nicholson – Building Wealth through Shares, Think like the Great Investors
Value.able by Roger Montgomery
I have included this book separate to my other books on shares. Roger is a “Value Investor” in the style of Warren Buffet. The sub-title for this book is:
How to value the best stocks and buy them for less than they’re worth.
Now who wouldn’t like to know that answer to that statement. If you have never understood the concept of ‘value investing’, this is the book for you.
Guide to Australian ETFs by David Bassenese
For those of you who prefer to let the experts do your investing, David Bassenesse shines a light on what to do. The sub-title to his book is:
“How to invest more cheaply and effectively using Exchange Traded Funds (ETFs)”
Regardless of whether you want to invest in ETFs, this book is an excellent educator. David gives you a detailed description of where any ETF should fit within an investment plan. You can apply the same methods to direct investment.
The categories of investments discussed are:
- Australian Shares
- Equity Income
- Managed Risk
- Short Sales
- International Shares
- Cash and Fixed Income
- Global Sectors
- Active Investments
You will find yourself thinking about how you can incorporate these strategies. These strategies may change your current approach to investing.
Investing in the Right Property Now by Margaret Lomas
Judging by her popularity on television, Margaret is the property expert we all trust. When it comes to advice on property investment you need to tread with care. There are many so called ‘experts’ who want you to sell their overpriced property.
Margaret Lomas will give you the road map for due diligence. Using her book, you can choose the property with the best potential for capital growth. Isn’t that the “Holy Grail” of buying property?
Investment Guru Investment Books
I call these two gurus the “Heavy Hitters” when it comes to successful investing. The first heavy hitter is Warren Buffet. Now the book, Snowball is not written by Warren Buffett. It is a biography by a great journalist.
No list would be complete with Australia’s very own Noel Whittaker. Do you recall his very first book, “Making Money Made Simple”?
“The 100 Most Influential Books of the Twentieth Century” lists this book as one of them.
Any book written by a man of this stature is going to give you sound advice
The Snowball – Warren Buffett and the Business of Life (Alice Schroeder)
The title describes exactly what this book is about. It explains in minute detail, Warren’s life both personal and professional. For some people there may be too much about his personal life. But without this detail you can’t understand why he has become one of the most influential people in the world. Unlike so many rich people, making money was not the driving force. The driving force was to put this money to good use to make the world a better place for everyone.
The Times said: “Warren Buffett is the greatest capital accumulator in history”.
He is also one of the greatest philanthropists in history.
This book is quite a tome. If long books are not for your holiday reading, then watch the HBO documentary. Are you travelling by plan for your holiday? You will find “Becoming Warren Buffett” in the documentary section in the on flight entertainment section.
A nice way to start your holiday reading!
25 Years of Whitt and Wisdom (Noel Whittaker)
This is another long tome. If you are of my vintage where you started investing in the 1970s, then this will be journey down memory lane. For those who have been investing in this century, this will enlighten you. If you think the GFC was bad, that was nothing. If you think we have had our share of financial scandals this century, these are nothing. Think Alan Bond or Christopher Skase.
It is interesting the things we do. As I reached for my copy of the book from my bookshelf, I saw all these Post It notes popping out of the book. These were little reminders to myself, where to find important quotes. That gives a sign of how important this book is to my encyclopaedia of investment knowledge.
This is a brilliant book documenting our financial history over 25-years. Noel has divided the book into these topics of interest:
- Money Matters
- Wealth Health
- Tools of Wealth
- Enemies of Wealth
- Golden Years
He has collated the articles written as a financial columnist into these sections. The sub-title of the book says is all:
“This book is a lifetime of blue-chip advice from Australia’s top financial columnist”
Have you a favourite Investment Book?
If you have a favourite Investment Book, please share this book in the comments below.
If you are an author of a good investment book, don’t be shy – please share it with Financial Mappers.
I hope you have a wonderful holiday. Take the time to chill out with a good investment book!
Glenis Phillips SF Fin – Good Financial Reads