Reading List Recommendations for Investors Kir Kahlon,
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Since some of you asked I've organized book recommendations by a number of categories/disciplines here an investor ould benefit from doing a deep dive. I'm only listing the best ones ! yes, it's still a lot but it could've been "# as long if it had everything $%. &lso, some of the books are e#cellent throughout, and some are crappy crapp y but have a chapter or to ith important insights that make it orth the slog. ere are the categories, c ategories, in no particular order, ith actual recommendations by category listed afterard. I've left off the authors of some of them but you should be able to easily find them on &mazon. (. )athematics )athematics/stat /statisti istics cs of of games, games, gamblin gambling, g, and sports sports *. +eveloping +eveloping a cognitive cognitive edge and avoiding avoiding decisionmak decisionmaking ing errors$ errors$ perception, perception, intuitio intuition, n, -udgement, pattern recognition, e#pert learning ". Incenti Incentives ves of manag manageme ement nt and peopl peoplee general generally ly . atterns atterns of industry industry and company change/evolut change/evolution ion 0. o to identify identify great great companies, companies, competit competitive ive advantage, advantage, and great great managements managements 1. 2ottom fishing/di fishing/distre stress/s ss/special pecial situations situations 3. 4ase studies studies of corporate/i corporate/investi nvesting/per ng/personal sonal failure failure 5. 6orensic 6orensic account accounting ing and understandin understanding g the the number numberss 7. o to analy analyze ze count countrie riess and and econom economies ies (8. o to read people and situations situations beteen beteen the lines ((. )editation/yoga. 9ou 9ou ill not understand the importance of this to investing unless you try it. (*. )arkets )arkets and crod behavior behavior (". Short Short selling selling (. 2iographies of great investors and valuecreating 4:;'s/founders 4:;'s/founders (0. Surveys of various investment styles/philosophies (1. 6inancial 6inancial history/com history/commentar mentary/anec y/anecdotes dotes (3. sychology sychology of investing investing and trading (5. o to structure and interpret information/data information/data (7.
yes, there's there's some value here even for us value investors% *(. 2ooks from other disciplines hich provide thoughtprovoking models/metaphors for investing/business **. Some good books to understand specific industries Mathematics/statistics Mathematics/statistics of games, gambling, and sports
?he sychology of ?horoughbred andicapping$ essons and
?he ?heory of oker by +avid Sklansky 4alculated 2ets by Steven Skiena 2et Aith ?he 2est by &ndre 2eyer ?he Een of Bambling$ essons from the Aorld's Breatest Bamblers by aul ease Bambling Aizards$ 4onversations Aith ?he Aorld's Breatest Bamblers by Cichard )unchkin Fo imit old ':m$ ?heory and ractice by +avid Sklansky 6ortune's 6ormula by Ailliam oundstone )oneyball by )ichael eis Developing a cognitive edge and avoiding decision-making errors: perception, intuition, judgment, pattern recognition, how experts become experts
Sources of oer$ o eople )ake +ecisions by Bary Klein ?he ?hinker's ?oolkit$ ( oerful ?echniGues for roblem Solving 2y & 6ormer 4I& &nalyst by )organ Dones ?he )ind and the 2rain$ Feuroplasticity and the oer of )ental 6orce by Deffrey Schartz Simple euristics ?hat )ake =s Smart by Berd Bigerenzer 2link$ ?he oer of ?hinking Aithout ?hinking by )alcolm Bladell ?he 4ambridge andbook of :#pertise and :#pert erformance by &nders :ricsson et al. Intuition$ Its oers and erils :motional Intelligence by +aniel Boleman :ducating Intuition ?he &rt of 4ontrary ?hinking & ?echniGue for roducing Ideas Ahy Smart eople )ake 2ig )oney )istakes +escartes :rror$ :motion, Ceason and the uman 2rain by &ntonio +'&masio )ind Aide ;pen by Steven Dohnson ?he ;rigin of 4onsciousness in the 2icamerality of the uman )ind
?he Fe +raing from the Cight Side of the 2rain by 2etty Incentives of Management and People Generally
6reakonomics by Steven evitt &ligning ?he Stars by ?homas ?ierney 6oundations of ;rganizational Strategy by )ichael Densen ?he )agic of Capport by Derry Cichardson ?he arado# of 4hoice by 2arry Schartz ?he :volution of 4ooperation by Cobert &#elrod )olecules of :motion by 4andace ert ?he &rt of Aar by Sun ?zu Investment Intelligence from Insider ?rading by Fe-at Seyhun ?he
?he Innovator's +ilemma by 4layton 4hristensen ?he Innovator's Solution by 4layton 4hristensen Seeing Ahat's Fe#t by 4layton 4hristensen 4ompetition +emystified by 2ruce Breenald ?he ;rigin and :volution of Fe 2usinesses by &mar 2hide
rofit atterns$ o ?o &nticipate and rofit from Strategic 6orces Ceshaping 9our 2usiness by &drian Slyotzky ?he &rt of rofitability by &drian Slyotzky Branularity of Broth$ o to Identify the Sources of Broth ?hat +rive :nduring erformance by
atrick
Bottom fishing/distress/special situations
Spinoff to ayoff$ &n &nalysis Buide to Investing in 4orporate +ivestitures by Doseph 4ornell 9ou 4an 2e & Stock )arket Benius by Doel Breenblatt ?he
Ahen Benius 6ailed$ ?he Cise and 6all of ong ?erm 4apital )anagement by Coger oenstein Ahy Smart :#ecutives 6ail and Ahat 9ou 4an earn 6rom ?heir )istakes by Sydney 6inkelstein orensic accounting and understanding the numbers
It's :arnings ?hat 4ount by eitt eisermann 6inancial 6ine rint by )ichelle eder rofits 9ou 4an ?rust$ Spotting and Surviving &ccounting andmines idden 6inancial Cisk$ =nderstanding ;ff 2alance Sheet &ccounting 4reative 4ash 6lo Ceporting by 4harles )ulford ?he 6inancial Fumbers Bame$ +etecting 4reative &ccounting ractices by 4harles )ulford 6inancial Shenanigans by oard Schilit How to analy!e countries and economies
?omorro's Bold by )arc 6aber & 2ull in 4hina$ Investing rofitably in the Aorld's Breatest )arket by Dim Cogers ?he oer of rodcuctivity by Ailliam leis +angerous )arkets$ )anaging in 6inancial 4rises
?he +emise of the +ollar ?he +ollar 4risis ?he :conomics of Inflation by 4onstantino 2resciani & istory of Interest Cates by Sidney omer ?he Breat Aave$ rice Cevolutions and the Chythm of istory by +avid 6ischer 2ull's :ye Investing by Dohn )auldin &dventure 4apitalist by Dim Cogers Investment 2iker by Dim Cogers Buns, Berms, and Steel by Dared +iamond ?he 4ompetitive &dvantage of Fations by )ichael orter How to read people and situations between the lines
:motions Cevealed$ Cecognizing 6aces and 6eelings by aul :kman Fever 2e ied to &gain$ o to Bet the ?ruth in 0 )inutes or ess in &ny 4onversation by +avid ieberman 9ou 4an Cead &nyone by +avid ieberman Meditation/yoga
Een in the &rt of &rchery )indfulness in lain :nglish by 2hante Bhunaratana rana ranayama rana don't let the scary title fool you. It's user friendly and in english% ?he ight on ranayama$ the 9ogic &rt of 2reathing by 2KS Iyengar ight on ife by 2KS Iyengar 9oga and the Huest for the ?rue Self by Stephen 4ope )oola 2andha$ ?he )aster Key Kundalini$ ?he :volutionary :nergy in )an by Bopi Krishna Mar"ets and crowd behavior
?he Aisdom of 4rods Dames Surioecki :#traordinary opular +elusions and the )adness of 4rods b y 4harles )acKay )anias, anics, and 4rashes by 4harles Kindleberger ?he 4rod by Bustave le 2on & Short istory of 6inancial :uphoria by Dohn Kenneth Balbraith 6ooled by Candomness by Ficholas ?aleb Speculation as a 6ine &rt and ?houghts on ife ?he Inefficient Stock )arket by Cobert augen ?he Fe 6inance by Cobert augen 2eyond the Candom Aalk$ & Buide to Stock )arket Inefficiencies and oCisk Investing by
?he &rt of Short Selling by Kathryn Staley o to )ake )oney Selling Stocks Short by Ailliam ;'Feil Biographies of great investors and value$creating C%&'s/founders
Fo 2ull$ )y ife In and ;ut of )arkets by )ichael Steinhardt Dulian Cobertson$ & ?iger in the and of 2ulls and 2ears by +aniel Strachman King Icahn by )ark Stevens osing )y
4able 4oboy$ Dohn )alone and the Cise of the )odern 4able 2usiness by )ark Cobichau# ?he )ind of Aall Street by eon evy Soros$ ?he ife and ?imes of a )essianic 2illionaire by )ichael Kaufman ?he )an Aho 2eats the S$ Investing ith 2ill )iller by Danet oe In &n =ncertain Aorld by Cobert Cubin 2ill Bross on Investing by 2ill Bross ?he 2ond King$ Investment Secrets from I)4;'s 2ill Bross by ?imothy )iddleton #urveys of various investment styles/philosophies
edge unters by Katherine 2urton ?he Fe Investment Superstars )oney )asters of ;ur ?ime Inside the ouse of )oney by Steven +robny )asters of the =niverse$ Ainning Strategies of &merica's Breatest +ealmakers by +aniel Kadlec Investment Burus by eter ?anous Investment
2ullJ$ & istory of the 2oom (75*(777 &gainst the Bods$ the Cemarkable Story of Cisk by eter 2ernstein Supermoney by &dam Smith )ore ?han 9ou Kno$ 6inding 6inancial Aisdom in =nconventional laces
?he 2attle for Investment Survival ?he Fe 6inancial ;rder edgehogging by 2arton 2iggs Ainning on Aall Street by )artin Eeig Psychology of Investing and (rading
sychology of ?rading$ ?ools and ?echniGues for )inding the )arkets ?rading In ?he Eone$ )aster the )arket ith 4onfidence, +iscipline, and Ainning &ttitude ?he +isciplined ?rader$ +eveloping Ainning &ttitudes essons from the Breatest Stock ?raders of &ll ?ime by Dohn 2oik ?he :ducation of a Speculator by
?he
4ontrarian Investment Strategies by +avid +reman 4ommon Stocks and =ncommon rofits by hil 6isher ?he Intelligent Investor by 2en-amin Braham ?he Aarren 2uffet Aay by Cobert agstrom ?he Aarren 2uffet ortfolio by Cobert agstrom ?he :ssential 2uffet by Cobert agstrom Super Stocks by Ken 6isher ?he Inefficient Stock )arket Aall Street on Sale by ?imothy
;ne =p on Aall Street by eter ynch 2eating the Street by eter ynch *nderstanding price and volume action +seriously, there is value in loo"ing at this stuff to see how some other people ma"e money, and yes some do
Studies in ?ape Ceading by Cichard Ayckoff ?ape Ceading and )arket ?actics by umphrey Feil Ceminiscences of a Stock ;perator by Desse ivermore o ?o ?rade in Stocks by Desse ivermore )onster Stocks$ o ?hey Set =p, Cun =p, ?op and )ake 9ou )oney by Dohn 2oik o I )ade *,888,888 in the Stock )arket by Ficholas +arvas o ?o )ake )oney in Stocks by Ailliam ;'Feil Aay of the ?urtle by 4urtis 6aith ?rend 6olloing by )ichael 4ovel Boo"s from other disciplines which provide thought$provo"ing models/metaphors for investing/business
inked$ o :verything Is 4onnected ?o :verything :lse and Ahat It )eans by &lbertaszlo 2arabasi :mergence$ ?he 4onnected ives of &nts, 2rains, 4ities, and Softare by Steven Dohnson sychology of the 6uture$ essons from )odern 4onsciousness Cesearch by Stanislav Brof #ome good boo"s for understanding specific industries
Ahy Ae buy by aco =nderhill
