Books are just brilliant. Just think about. Someone has spent years, perhaps even a lifetime carefully writing down their thoughts on a particular subject they are passionate about. They then publish it and charge (most of the time) no more than a few pints of beers for all their wisdom. It’s an absolute bargain and the next best thing to actually having a personal mentor. The books might not even cost you any money if you can borrow it. If you do end up buying it though, remember to lend it to a family or friend once you’re done with it to pass the knowledge on.
This list is a work in progress, so check back every so often for new books I recommend.
This is a classic book providing financial advice through a collection of parables set in ancient Babylon. The book was first published in 1926. Some may find the style (think bible) of writing to be difficult, but that’s part of its charm. I remember buying this for my younger sister when she was about 13 and even she liked it!
I was fortunate enough to receive a draft preview edition of this book. It lays out step by step and in simple language what is involved when being a landlord. It is not technical and provides an excellent introduction if you’re interested in property as part of your asset allocation.
The Intelligent Investor – by Benjamin Graham
The author taught Warren Buffett. That in itself should be enough to peak your interest and know that this book would be worthy of your time. Although this the teaches a value investing approach for active investors, its teachings are equally important to understand for anyone who invest in passive index trackers.
I know this book can be controversial. Even the title itself was a turn off for me so it took me quite a few years before reading it. The lessons he provides are similar to The Richest Man in Babylon. Putting aside personal views on the author, I still find valuable lessons could be learnt from the book.
I was introduced to this book through work. The author is an economist and Nobel Prize winner who has devoted his life to behavioural economics. How do we make decisions? Why is it that some of our actions can make perfect rational sense, whilst others are so irrational? This is a book worthy of reading several times. You can leave it and come back to it a year later and learn something you missed the first time round. Every time I read it, I discover new flaws in how I think and make certain decisions. I find some of the lessons are really useful for investing. If I had to choose one book, this is it.