Beruflich Dokumente
Kultur Dokumente
Want to read what we have? Here is our list. (All books can easily be purchased by clicking any of the Amazon links to the right). First, we recommend checking them out from a library first. Remember the time value of money and how it can compound over time. $1,000 saved on books is worth over $10,000 after compounding at 8% annually for 30 years. You will note that we dont have any books listed by Jim Cramer. That is not an error.
The Millionaire Next Door: The Surprising Secrets of Americas Wealthy by Thomas Stanley and William Danko
This book led us to the idea that you shouldnt try to keep up with the Joneses because they are broke. It is an insightful look into the financial habits of those who are truly wealthy.
The Physicians Guide to Investing: A Practical Approach to Building Wealth by Robert Doroghazi
This is a helpful guide in getting physicians to think about money. Some of it assumes that you already know a base amount of financial information, which we do not believe
most physicians have. There is nothing you cant get from here that you cant get from our site. For those who are curious, we have to mention it.
BOOKS THAT MAKE YOU A BETTER PERSON AND HELP YOU BECOME MORE SUCCESSFUL
How to Win Friends and Influence People by Dale Carnegie
Being book smart will only get you so far if you are socially inept. For those who are already charming and charismatic, feel free to skip this one. For the rest of us, this is a must read.
10 Days to Faster Reading by The Princeton Language Institute and Abby Marks Beale
If you are interested in finance, you will have to read. You may as well do it as quickly as you can. This book, considered the definitive in speed reading, will give you the tools necessary.
NON-TECHNICAL FINANCE BOOKS THAT WILL OPEN UP YOUR EYES ABOUT FINANCE
Steve Jobs by Walter Isaacson
We are large fans of any financial biography. The super successful have traits that can be mimicked and if not mimicked, at least acknowledged. Steve Jobs was the CEO of Apple, the largest company by market cap, ever. It is well written and worth a read or listened to via audiobook to understand what drives successful people.
No, this is not a book about Natalie Portman. We love books that give us new glasses to view the world with. The central idea is looking at Black Swan events that are essentially unaccounted for in normal probability distributions that shape the course of history. The book is part philosophy, part math and part investing. It will change the way you look at the world and chance events. Taleb wrote another great book called Fooled by Randomness. We suggest starting with The Black Swan and then going to the other title if you enjoy the first.
Fooling Some of the People All of the Time: A Long Short Story by David Einhorn
We admire David Einhorn...just not quite as much as we admite Mr. Buffett. Einhorn is the head of Greenlight Capital, an investment management firm. In this book, he talks about how he shorted the company Allied Capital. To short a company is to bet against it. The reason the book is vital is that it will show you how to dissect an investment and it does so in laymans terms to help the average reader understand. We continue to believe that one must try to mentally destroy a company first, and if you cant, then it may be worthy of investment. Einhorn tells you what to look for when trying to destroy a company and he does so in a way that makes the book read like a detective story.
Mary Buffett was married to one of Warren Buffetts sons and wrote this book from the information she gleamed from Warren himself while she was part of the family. The book is broken down into two parts, one part qualitative and one part quantitative. If you dont like math, just read the other half of it.
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits.)
John Bogle is the father of the index fund and Vanguard. He is full of integrity and common sense. Anything he writes is worth reading. This book is a great primer for the newbie investor. Another book in the same genre is Winning the Loser's Game: Timeless Strategies for Successful Investing by Charles Ellis. Both books talk about minimizing expenses and maximizing returns and avoiding the hype that the investment community puts out to make you spend more.
INTERMEDIATE
The Essays of Warren Buffett
This book is simply a collection of some of the Berkshire Hathaway Annual Reports. We have listed the website to get the full reports on our Websites page. This book is the highly condensed version. Once again, we are Buffett idolizers. We view the fact that he shares his knowledge with us as if Michael Jordan were to teach us how to play basketball or Mozart to teach us
piano. We devour any information he gives us and we think you will be smarter for doing so also. If you are serious about investing, you MUST read Buffetts annual shareholder letters. Remember, they are free unless you get this condensed version.
Value Investing from Graham to Buffett and Beyond by Bruce Greenwald, Judd Kahn, Paul Sonkin and Michael van Biema
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This book goes on a case by case basis in valuing companies and looking for value. Practice makes perfect. Following the actions of good investors makes sense. Another book that that serves as a roadmap for finding value on a case-by case basis is You Can Be A Stock Market Genius by Joel Greenblatt. The title is ridiculous but the book is worth reading.
The Bond Book: Everything Investors Need to Know About Treasuries, Municipals, GNMAs, Corporates, Zeros, Bond Funds, Money Market Funds, and More by Annette Thau
We do believe in investing in bonds as well. This book is considered the authoritative text for learning how to invest in bonds.
ADVANCED
Security Analysis by Benjamin Graham
This is considered the definitive book of investing. Before this book, valuation metrics were almost non-existent and trading securities went by hunches and word of mouth. It is a difficult book to get through and the examples are outdated, despite several editions being made. But its importance cant be overstated. Buffett once told himself that he would not invest until he had completely understood this book. Better for the advanced investor and surely after one has tackled The Intelligent Investor.
you any company, basically through cash flow analysis. This book could substitute several finance classes and is worth it for the serious investor. If you cant understand discounted cash flow analysis or get an accurate idea of what tangible book value means, this is the book for you.
Derivatives Demystified: A Step-by-Step Guide to Forwards, Futures, Swaps and Options (The Wiley Finance Series) by Andrew Chisholm
This is the book we have used, in addition to textbooks for class, for understanding options and futures. Even we stay away from swaps. It is relatively easy to follow and understand assuming you have some financial structural knowledge.