The Essential Buffett- R. Hagstrom Find out what happens when incompetent real estate speculators are allowed to buy their own banks and judges earn such low salaries that only by accepting money from the accused can they pay their bills. Another book in the “Money Masters” genre, this is an excellent book reviewing a wide range of successful approaches to investment and the investors who use them with a bit of discussion about the pros and cons of each method. There are chapters in the first book that aren’t repeated in the second, maybe you should buy Beyond- and look for the other one in the library. Learn How to Trade Stocks Online With This Simple Guide, 6 Market Psychology Books Every Trader Must Read. Book Review: Best Practices for Equity Research Analysts. These Investors Struck Gold Picking Stocks. He’s scathing of Wall Street and the conflicts of interest it suffers from. | Apr 30, 2010 3.4 out of 5 stars 3 A cross between What Works on Wall Street and A Random Walk Down Wall Street. Fundamental concepts in the book include technical and fundamental analysis, whether or not actively managed mutual funds make sense, and other tried and true investment theories. When Genius Failed: The Rise and Fall of Long-Term Capital Management – Roger Lowenstein The Four Pillars of Investing - William Bernstein You can’t call yourself an investor until you can write an off-the-cuff two page essay on Warren Buffett and his methods! This guy is considered to be one of the greatest fund managers of all time, right up there with Buffett, Templeton and Lynch. If you study your Ben Graham and Phil Fisher you’ll have virtually the entire foundation that Buffett drew on, in fact after a good read of Fisher I came to the conclusion that most books on Buffett are simply Fisher ripoffs with a bit of value investing thrown in. Global Investing: The Professional’s Guide to the World Capital Markets - R. Ibbotson, G. Brinson The answer is all of them, but rebalance the portfolio regularly. A classic double volume, originally written more than a century ago. Author John C. Bogle believes that low-cost index funds are by far the best option for investors and leans on other investors to prove his case. If you want to start investing, first you will need to understand that the biggest obstacle you will face is yourself, and not dodgy auditors, greedy company directors, or market manipulators. And according to Lynch, you may want to put your money behind it. Pingback: Investment banking internship reading list - Equity-research.com, Why Smart People Make Big Money Mistakes – and how to correct them, Value Averaging: The Safe and Easy Strategy for Higher Investment Returns, Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life, Unconventional Success: A Fundamental Approach to Personal Investment, Against the Gods: The Remarkable Story of Risk, The Birth of Plenty – How the Prosperity of the Modern World Was Created, The Crowd/Extraordinary Popular Delusions, Global Investing: The Professional’s Guide to the World Capital Markets, The Intelligent Investor – a book of practical counsel, The Interpretation of Financial Statements, Dean LeBaron’s Treasury of Investment Wisdom: 30 Great Investing Minds, Contrarian Investment Strategies: The Next Generation, Technical Analysis of the Financial Markets, The Complete Day Trader: trading systems, strategies, timing indicators, and analytical methods, The Mathematics of Money Management: risk analysis techniques for traders, Portfolio Management Formulas: mathematical trading methods for the futures, options and stock markets, Money Management Strategies for Futures Traders, When Genius Failed: The Rise and Fall of Long-Term Capital Management. You can save yourself a lot of reading on Warren Buffett simply by going through this volume. We are committed to researching, testing, and recommending the best products. Top 5 Best Stock Market Books Summary. ... Equity-research… After you have read The Millionaire Next Door and Why Smart People Make Big Money Mistakes you will be set to start reading books on actual investing. He is responsible for managing and investing the University’s endowment assets and investment funds, which total about $22 billion, realizing an average annual return of 17.8 percent on his investments over the last ten years. The Birth of Plenty – How the Prosperity of the Modern World Was Created – William Bernstein I am not really sure how you "learn equity research" If you want to BE an equity researcher, you won't find the answers on line, you need to join the buy or sell side. A highly regarded book on growth stock trading, the CANSLIM approach explained. We may receive commissions from purchases made after visiting links within our content. Can You Do the Same. He is a proponent of investing in what you know best and investing in companies where you see the investment power right in front of you. It is something like a version of The Intelligent Asset Allocator which you can read on the bus on the way to work, whereas The Intelligent Asset Allocator is more technical and the best value can be had from it with a pen and notebook in one hand. If you're only going to read one book about stocks, "The Intelligent Investor" is the book to go with. Unconventional Success: A Fundamental Approach to Personal Investment – David Swensen About the 1988, $25 billion takeover of RJR Nabisco by private-equity firm KKR, the biggest takeover at the time; Gives details on the deals ; Also one of the best investment books of all time “King of Capital”, … You'll hear straight from the experts in this interview-style book, though the author also boils down their responses into a set of principles you can apply in your own trading career. Venture capital being a very impo… The good point about this book … The book is written with the beginner mind and it's designed to help investors build a foundation for picking stocks that can carry them through their investing career. Aim for information that makes a difference, and that few others have. Let’s take a closer look at what’s included in an equity research report. Using computer simulations he backtested a variety of trading and investment strategies and made some interesting discoveries on which strategies work the best. He advocates stop-loss techniques such as “always sell a stock if it falls 10%” and has chapter after chapter devoted to charting. Dreman’s systems, which are basically just value investing techniques work on the idea that analysts are far too bullish on growth stocks and far too pessimistic on “dogs”, therefore you can do very well by buying stocks that analysts are exceedingly bearish about and have sold down to the point that they trade very cheaply. If you feel up to it you can read both, they are similar books, but they aren’t quite the same book. From Princeton economist Burton Malkiel, this book popularized the “random walk hypothesis.”. Common Sense on Mutual Funds - Jack Bogle Plus, this book is filled with anecdotes, including one about a trader who turned $30,000 into $80 million. This is a very neat book that will change your perspective on portfolio construction. If you have heard all this stuff about the need for banking reform in Asia, yet don’t know what it all means, read this and be shocked at the manipulation, fraud, cronyism and contempt for minority shareholders that characterise most Asian stock markets. The Masters of Private Equity and Venture Capital by — Robert Finkel This private equity book is based on not just the authors experience and research; it is based on the research of a number of equity experts and their experiences. What Are the Best Books to Learn About Global Investing? The Intelligent Asset Allocator – William Bernstein His book focuses on alternative asset classes, and discusses their good and (mostly) bad side, concluding that most people are better off with a core portfolio of index funds from the major asset classes. Value averaging is a modified form of dollar cost averaging where you calculate a “value path”, i.e. Reminiscences of a Stock Operator - Edwin Lefèvre Market Wizards and The New Market Wizards - Jack D. Schwage This book is the thinly disguised biography of Jesse Livermore, one of the greatest traders of all time. It talks about how crowd psychology works on prices and feeds an extraordinary lust for ever higher gains, forcing up prices to levels far higher than could ever be sustained. At the same time, they argue that valuations tend to be much lower and as a result returns of stocks in emerging markets can be much higher. You can scratch around for years and never see the need to do much more than standard charting, but if you want to take your trading to the next level and get really serious these books are well worth looking up. Must-Reads for Private Equity . 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