Books about investing
The ultimate counterpoint to attempting to “beat the markets” – after spending 15 years working in active fund management, Tim Hale concluded that the best outcomes for most investors in most situations would be a simple portfolio of “passive” investments (that is, funds which attempt to track a market, rather than outperform it). This style is favoured by the likes of Monevator, and many of the subscribers here.
This book was written by the father of “value investing”, and the mentor of Warren Buffett, who is widely accepted to be the world’s most successful investor.
It was originally published in 1948, but Ben Graham updated it periodically over the years, and it stands as true today as it ever has.
Published in 1994, this is arguably showing its age more than Intelligent Investor. Either way, valuable reading from one of the best managers of money in the past few decades.
A great starter guide, going from the very basics (why businesses need shareholders) to more in-depth explanations of different types of investment, and step-by-step guides on how to execute trades.
Personal finance books
First written in 1926 (original version linked as PDF), with various re-issues and updates available in print form. Very sound basic financial advice written as compelling parables from the age of Babylon. Accessible and a must-read as a starting point, particular for people with less financial experience.
Straightforward approach to budgeting, planning, saving and investing from the host of the Meaningful Money podcast.
Consumer champion Martin Lewis’s first book, and a must-read, although a lot of the information is also on the moneysavingexpert.com website.
A book focused more on the why than the how (although it does deal with the how as well). A very much worthwhile read about longer-term planning and deciding what is important to you.
A series of essays over the years from the world’s most successful investor. Makes interesting reading! Notably, the 2013 letter has the following to say about how most people should invest:
The typical investor doesn’t need this skill. In aggregate, American business has done wonderfully over time and will continue to do so (though, most assuredly, in unpredictable fits and starts). In the 20th century, the Dow Jones industrial index advanced from 66 to 11,497, paying a rising stream of dividends to boot. The 21st century will witness further gains, almost certain to be substantial. The goal of the nonprofessional should not be to pick winners — neither he nor his “helpers” can do that — but should rather be to own a cross section of businesses that in aggregate are bound to do well. A low-cost S&P 500 index fund will achieve this goal.2013 letter to shareholders by Warren Buffett
Ben Felix – Candian focused financial advisor, but a lot is very relevant to UK investors too