40 Books Recommended for investors to read

"You don’t have to burn books to destroy a culture. Just get people to stop reading them” — Ray Bradbury

Below is the list of all the books seen in the chart, as well as a few more that I couldn’t fit. I’m sure I left out a few, but if you’re looking for books on investing, this is a good place to start.

1. “Reminiscences of a Stock Operator” — Edwin Lefevre, 1923
3. “Security Analysis” — Benjamin Graham, David Dodd, 1934
4. “Where Are the Customers’ Yachts?” — Fred Schwed Jr., 1940
5. “The Intelligent Investor” — Benjamin Graham, 1949
6. “The Great Crash, 1929” — John Kenneth Galbraith, 1954
7. “Common Stocks and Uncommon Profits” — Philip A. Fisher, 1958
8. “The Money Game” — George Goodman, 1967
9. “A Random Walk Down Wall Street” — Burton Malkiel, 1973
10. “Manias, Panics, and Crashes: A History of Financial Crises” — Charles Kindleberger, 1978
11. “The Alchemy of Finance” — George Soros, 1987
12. “Market Wizards” — Jack Schwager, 1989
13. “Liar’s Poker” — Michael Lewis, 1989
14. “101 Years on Wall Street, an Investor’s Almanac” — John Dennis Brown, 1991
15. “Beating The Street” — Peter Lynch, 1993
16. “Stocks for the Long Run” — Jeremy Siegel, 1994
17. “What Works on Wall Street” — James O’Shaughnessy, 1997
18. “The Essays of Warren Buffett: Lessons for Corporate America” — Lawrence Cunningham, 1997
19. “Against the Gods: The Remarkable Story of Risk” — Peter Bernstein, 1998
20. “Common Sense on Mutual Funds” — Jack Bogle, 1999
21. “Devil Take the Hindmost: A History of Financial Speculation” — Edward Chancellor, 1999
22. “When Genius Failed” — Roger Lowenstein, 2000
23. “One Up On Wall Street” — Peter Lynch, 2000
24. “Fooled By Randomness: The Hidden Role of Chance in Life and in the Markets” — Nassim Nicholas Taleb, 2001
25. “Confessions of a Street Addict” — Jim Cramer, 2002
26. “The Four Pillars of Investing: Lessons for Building a Winning Portfolio” — William Bernstein, 2002
27. “Winning the Loser’s Game” — Charles Ellis, 2002
28. “Bull: A History of Boom and Bust 1982-2004” — Maggie Mahar, 2004
29. “Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger” — Peter Kaufman, 2005
30. “All About Asset Allocation” — Rick Ferri, 2006
31. “Your Money and Your Brain” — Jason Zweig, 2007
32. “Bailout Nation” — Barry Ritholtz, 2009
33. “The Big Short” — Michael Lewis, 2010
34. “The Quants” — Scott Patterson, 2010
35. “More Money Than God” — Sebastian Mallaby, 2010
36. “The Most Important Thing” — Howard Marks, 2011
37. “Backstage Wall Street” — Josh Brown, 2012
38. “Quantitative Value” — Wesley Gray, Tobias Carlisle, 2012
39. “Millennial Money: How Young Investors Can Build a Fortune” — Patrick O’Shaughnessy, 2014
40. “A Wealth of Common Sense: Why Simplicity Trumps Complexity in Any Investment Plan” — Ben Carlson, 2015

Diversification in Investment

Diversification in investments:

      It is literal and clear that diversification has all to do with reducing risk. You may also want to fancy-name it ‘asset-allocation’. Why would one ‘allocate’ to multiple asset classes or ‘diversify’ if one is safely sure about one asset class, and the return on would get, one would never think of any sort of allocating or diversification. Yes it also has to do with the advent of the ‘financial industry’. Recently we see in indian markets the launch of, simultaneously, gold etf and hybrid mf schemes involving equity, debt as well as gold etf investment. Why? They have launched only now? Wasn’t there as need of ‘gold-touch’ earlier? Or in one year only gold has become ‘investible’ or worth giving ‘allocation’? thus most of us do/or should understand, this is about business and they have to sell financial products, any for that matter.

Well, coming to the main topic, lets’ see some expert thoughts on diversification in investing:

Legendary investor Warren Bufferr has said for diversification,

“Diversification is protection against ignorance; it makes very little sense if you know what you are doing.”

He also says,