Best Investing Books Ranked

[@JosephCarlsonAfterHours]

Here's a link to my amazon store that has most of the books talked about: amzn.to/3KwyIhG Try out the Patreon today: www.patreon.com/josephcarlson Patreon includes: 🎥 Over 100 exclusive videos, and new ones every week. 🚀 Full access to Qualtrim.com, the stock analysis website I built from the ground up 📚 Transparent portfolio updates, with every buy and sell I do, as well as monthly one-pager updates. 💬 Access to the Joseph Carlson Show private discord community, with 4,500 members

[@epicscoreCS2]

the richest man in babylon Critique of pure reason

[@VirtousStoic]

❤ ur content bro happy new years

[@dansweeney6360]

@josephcarlsonafterhours what do you think of Home Depot?

[@josephc28]

Have you read the book, When Genius Failed: The Rise and Fall of Long-term Capital Management by Roger Lowenstein.

[@jamesabasifreke]

💯 richest man in Babylon

[@bahijarhafiri]

Engaging with books has significantly elevated my perspective on investing. True wealth isn't built through mere savings; financial freedom stems from strategic investments. I've learned that accumulating wealth hinges on making prudent investment decisions|

[@ibrahimaisaadan]

Books are powerful tools for understanding investments and building wealth. Strategic investing unlocks financial freedom, and embracing knowledge leads to smarter financial decisions.

[@susannicky]

Agreed, opting for financial advise is now the best way to go about the investing. Both beginners and Intermediate investors can stay profitable when working with an adviser. Reading books is good but making profit is better

[@BaffySchenck]

This intrigues me. I've looked up financial advisors online, but finding one to connect with is a bit difficult. Do you mind if I ask for your recommendation??

[@susannicky]

My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@BaffySchenck]

Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info,.

[@danielsimonson3484]

The richest man in Babylon. A simple book on budgeting. For a beginner investor, it is great.

[@chrimes]

My favorite book is 100 to 1 by Phelps - the books preaches finding a great business and never selling, which I think is exactly what Joseph preaches. It shows how dramatic returns can compound by holding a great stock for several decades - similar to Fisher’s book but I like it better and think it’s an easier read. Not sure if you read that one? But it’s definitely great (it can be a little outdated).

[@JWSpaceX]

and also Chris Mayer

[@villagecarpenter2266]

"The little book of common sense Investing" By John C. Bogle is a great book! I highly recommend it.

[@Dividendflywheel]

THANK YOU! All books written by John C. Bogle

[@739jep]

S tier!

[@WanderingExistence]

The Psychology Of Money is probably my favorite easy to understand finance books. Housel's short stories are insightful, easy to digest and relate to. I just started reading Daniel Kahneman's Thinking Fast And Slow. Basically behavioral economics/ finance FTW. If you want a little bit more economics side of it, MIT professor Andrew Lo has Adaptive Markets (he also has an MIT open courseware lecture series that was filmed as the 2008 financial crisis was unfolding). Another, although not as much investing/ finance applicable, Debt: The First 5,000 Years by anthropologist David Graeber is a very important book for anybody interested in understanding the history of economics.

[@JackSmith-w1t]

Biggest winner mentality shift for me came after reading the book 25 Money Secrets From Donald Trump

[@yutyuiiu]

yeah. griftonomics is a thing i guess

[@Jekyll_Island_Creatures]

Books you should read/review. Thanks Joseph! 1. How I Found Freedom In An Unfree World by Harry Browne 2. The Simple Path To Wealth by J.L. Collins 3. Set For Life by Scott Trench

[@clouddeveloper4549]

Good list of books and I generally agree with the rankings. Here are a few that I would highly recommend: 100 Baggers, Money Masters of our Time, Sam Walton: Made in America, and Shoe Dog

[@JakeBroe]

You have to read When Genius Failed: The Rise and Fall of Long-Term Capital Management. Brilliant book covering one of the craziest financial events that took place in the 90s.

[@Dividendflywheel]

Very true. There seems to be a company or person that blows up every decade. Think Enron, AlliedCapital, Bernie Madoff. A friend gave me David Einhorn’s book Fooling Some of the people, all of the time. Shows how executives cook the books.

[@224dot0dot0dot10]

​​@@DividendflywheelThe "When Genius Failed" book covers nobel prize winners playing the bond market, and I also like the book "Hot Commodities" by Jim Rogers who used to manage money for Soros Quantum Fund (similar to what Druckenmiller was doing more recently).

[@thecapone45]

I am very satisfied with your ranking of The Intelligent investor. I bought it solely because of the reputation it had, along with One Up on Wall St. The former was sort of bland and I honestly couldn’t wait until I finished it. The latter was very, very good and changed how I view investing. I think the B tier ranking you gave the intelligent investor was generous. Rich dad poor dad was great, but I prefer The Unfair Advantage. Those books truly changed my life. Robert Kiyosaki now… I can’t stand to watch his clips anymore.

[@alwayscreatingio]

wow didn’t expect Range to be mentioned here! just started reading it

[@danielottenwalder3945]

I feel like the letters of warren buffet should be S tier I learned so much about business from them

[@kp-ms9tz]

Surprised you haven’t read Poor Charlie’s Almanac”. The new edition is out as well. Deep look inside the mind of Charlie Munger. Just an amazing book.

[@user-zo2ge3oe8d]

Irrational Exuberance is a book that people need to read. Especially younger people. You will actually learn. It is not entertainment.

[@bigmoo9470]

Surprised you didn’t mention Investing for growth by Terry Smith as you’ve previously recommended it!!! Also, Shoe Dog is a great read on what it takes to build a strong brand

[@shadowninja6689]

A little surprised you didn't even mention A Random Walk Down Wall Street by Burton Malkiel. I'm in the middle of reading it right now, it definitely seems good so far.

[@Dividendflywheel]

You are reading a great book (take notes). I would also take a look at all books written by John C Bogle. Then Stocks for the long run by Jeremy Siegel • Unconventional Success by David Swensen

[@theWebWizrd]

That book and Stocks for the long run should both be S tier. They are really good.

[@739jep]

Great book! S tier for sure

[@224dot0dot0dot10]

​​@@DividendflywheelI heard that they make you read Burton Malkiel "Random Walk Down Wall Street" if you are studying for an economics degree at many major universities in California but the finance majors read different stuff like Jeremy Siegel "Stocks for the Long Run" and sometimes even books written by George Soros like Alchemy of Finance ?

[@Dividendflywheel]

Richest Man In Babylon is a classic

[@benlehman9412]

one hundred baggers is my favorite investment book

[@empcaligula3032]

Poor Charlie’s Almanack is absolutely S tier. It is applicable to investing, business and life in general. There is so much to learn from that book.

[@ZaneDevon]

I've read about half of these and generally agree with the ranking! Adding a few new ones to my list. Others to consider: Stocks for the Long Run, Jeremy Siegel (very good - has been updated to 2022) Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, Janet Lowe Thinking, Fast and Slow, Daniel Kahneman (more about psychology, but highly applicable to investing) Trillion Dollar Triage, Nick Timiraos The Dhandho Investor, Mohnish Pabrai

[@mguti090]

A Simple Path to Wealth by JL Collins is an excellent book for intro to passive investing.

[@zoatengtv5644]

Top tier Book!!

[@Dividendflywheel]

YES. J L Collins book (and blog) is ideal for new investors. And people who don’t want to Nerd-out on investing. In my opinion a majority of women (my wife, daughter and sister included) don’t want to know how investing works. Any more than they know how a car works. They just want to use investing to get the desired results.

[@Ferdinand208]

Thanks! I put the S and A tier in my wishlist. Could you do a part 2 if somebody in the comments has good additions?

[@FinancialShinanigan]

You never forget your 1st investing book lol mine was Millionaire Teacher

[@PatrikHorvathYT]

I can see Investing for Growth from Terry Smith on your shelf, that's in my opinion an S tier book.

[@investerendoejezo0909]

Good book! But also quite difficult to read (for beginners) and feels dry somitimes. It helps to focus on great companies tho

[@JosephCarlsonAfterHours]

That one is great. Forgot to list it.

[@theTECHYnewb282]

You should read ‘The White Coat Investor’ as kind of an out of the box option. Absolutely love that book and I’m not even in medicine lol

[@juasmith1]

Good stuff. Thanks for the recommendations. The only one I've read is the psychology of money and I thought it was excellent.

[@Dividendflywheel]

Joseph; I AGREE with you on Intelligent Investor. You had the guts to say what you said 😊

[@Benjoi]

My two favorite books are «one up on wall street» and «psychology of money».

[@donyaschuk6538]

I agree with your comment on the fund. Did you read 'The Bond King' by Mary Childs? Bill Gross billionaire fighting with this neighbors is hilarious.

[@escargot8854]

Rich Dad Poor Dad changed my life. I don’t care about how it has aged or how the author is perceived now. It has been one of the most impactful books i’ve ever read

[@gioclinaz]

That book changed my mindset on investing and perspective of money. For sure it’ll always be a S tier for me regardless how nuts the author is nowadays

[@AC-ge2tr]

Same

[@rafaelmorais2252]

Agreed. Especially for someone starting in the investing world. It is kind of based in the richest man of Babylon

[@pavlosemeniuk]

Same. Put the seed in your minds that there is a life beyond 9to5 or rat race

[@brandommartinez3572]

Same it got me into investing

[@kodaq2001]

Enjoyable vid, nice work. The Richest Man in Babylon is my personal favorite.

[@InvestingWithAdamK]

Market wizards, pit bull and reminiscences of a stock operator were all good books and fun reads.

[@Dividendflywheel]

Please elaborate. Who are the Authors

[@fairfeatherfiend]

The life of Jesse Livermore is a cautionary tale to all traders. All these KZbinrs give the impression that making money off the market is a certainty. it's not.

[@InvestingWithAdamK]

@@fairfeatherfiend 100%. He had huge ups and downs and the rumor is maybe took his own life.

[@InvestingWithAdamK]

@@Dividendflywheel Sorry. Just saw this. . . Market wizards is by Jack Schwager, Pit bull is Martin Schwartz and Reminiscences is by Edwin Lefevre

[@felixjavierarbeloroman]

I miss "Stocks for the long run" by Jeremy Siegel. However, I couldn't agree more about Peter Lynch. All the best from Barcelona😊

[@dustinmorris1317]

Great list Joseph! I’d put Rule #1 investing on the A list too. Not a bad intro book on the subject and fairly easy to read.

[@Nick-gj6je]

Thanks, added a bunch of these to my wish list.

[@earlyretirement1459]

I'm reading Investing for Growth by Terry Smith. Right now, it's a B tier. It's basically a compilation of his writings from 2010-2020. I bought it to get his general insight into investing, but a lot of it is dealing with contemporaneous events in the 2010s that aren't that interesting to me today.

[@DimaShyshkin]

Thanks for the nice review, Joseph. Added a few of these to my wishlist. Agree on Peter Lynch's books, I loved them too. Have you ever read 'The Millionaire Next Door'? It's one of my favorites.

[@investerendoejezo0909]

Joseph what is your take on 100 baggers?

[@WanderingExistence]

Not him, _obviously,_ but I liked it. Maybe A tier, but it's been awhile. Easy to understand and actionable for a wide audience.

[@tonypell]

This is exactly what I need right now. Thanks!

[@chrisreiche]

What about "Margin of Safety" from Seth Klarman? I am currently reading that since you mentioned it in the past

[@Oscar_12354]

I missed "MONEY Master the Game" by Tony Robbins. Yes, I know, love or hate the author, this huge book (over 700 pages) is very broad on money, investing, giving and happiness, focusing on varies strategies as followed by billionairs and investors, and I really loved it (S tier). Overall, it teaches you a LOT about money, how to see it and what to do with it. A downside could be that the book is so broad, and describes so many varied investing strategies, that it doesn't tell you which one strategy is "best" (there's no such thing), except he correctly promotes just dollar-cost-averaging into broad market ETFs.

[@TooAjit2Quit]

Joseph, your thoughtful breakdown of these books was fantastic. It inspired me to reach out because I've been reading a book lately that I think you might find incredibly compelling: "What I Learned About Investing from Darwin." I've been following your investment insights for a while now, and this book aligns so well with your S-tier values. It applies evolutionary principles to the market, emphasizing strategies like risk avoidance, quality selection, and long-term vision. I know you appreciate fresh perspectives, and this one feels particularly insightful. Hope you get a chance to check it out!

[@samuellewis1965]

Morgan Housel has solid data that he discusses with wonderfully crafted anecdotes.

[@erdemince2211]

I would love to see more of this content either with more books you've read or as you read more 👍

[@AudayAlkhayat-j8h]

what about "Principles" by Ray Dalio ?

[@Stockform]

Here before the notification goes out to the Discord members

[@BrandonCPack1]

Just a though, you should have signed up for amazon affiliate and placed links to all the books in the video 💰

[@danielhenriques6051]

Curious to know what you think of "The Little Book of Common Sense Investing" from John Bogle. One of the only books that I've read/heard of that wasn't in the video

[@WanderingExistence]

Great book, important to help the uninvested with a simple start; DCA into low cost and diversified ETF's.

[@philb007]

Great video! Going to start a book a month goal in the new year. One more thing about Bogle and index investing … I believe that having a core stock (etf or mutual fund) portfolio is a wise move. i.e. SCHD-VOO-QQQM. Couple this with a small percentage of stocks. We keep it between 20-25% individual stocks. It’s worked for our family. Anyone can follow this approach and begin building their retirement/financial freedom nest egg

[@BranislavB-hx9zy]

For those interested in learning how advanced economic understanding was early in history, Benedikt Kotruljević, a 15th century economist, renowned in Croatia and worldwide; his seminal book The Art of Trading describes the nature and functioning of entrepreneurship and gives a full account of double-entry bookkeeping, which at present times still has a world-wide application. His books were groundbreaking in the pre-Gutenberg era, he was an economic adviser to the Spanish crown and a diplomat for the Republic of Dubrovnik, which later chose to become part of Croatia. Greetings from Croatia

[@Dimitris_1987]

Common stocks and uncommon profits is the intelligent investor equivalent for growth stocks. It’s totally different in logic than Benjamin Graham’s book but both are phenomenal.

[@jolosarmiento24]

In what ways is it different in logic? I’ll read them for myself but it would be interesting to get your thoughts on it too

[@Dimitris_1987]

@@jolosarmiento24 intelligent investor is full of maths about how to find value, common stocks do not have nearly any maths. The one book is quantitative the other qualitative. It speaks about how you can find growth stocks that will grow for years to come, these stocks might have high multiples and not look value but they are. Both books are high level and some parts of the common stocks book are irrelevant to ordinary investors, as they speak about reaching the management and doing questions and discussing. Anyway, have a look at it, it's a great book. As I said, it diversfies you from other books that say practically the same with the Intelligent Investor.

[@adampollock5972]

Hi joseph, what do you think of buying spgi at this price

[@JosephCarlsonAfterHours]

I'm having a hard time buying anything at today's prices because almost everything was so much cheaper just a few months ago. I'm searching and doing analysis and projections on cash flow to try and determine what's best value in my portfolio (and outside of it) currently.

[@adampollock5972]

Thanks a lot for the comment

[@brianbirnbaum9760]

Totally agree about Intelligent Investor. It’s not very useful at all today in a practical sense. It’s more about the way it gets you thinking about investing and more specifically about how to read accounting statements. Phil Fisher is the GOAT.

[@adelaidemedici5114]

An average list but he nailed it with Phil Fisher’s magnum opus. Also, he played his hand by starting with Graham’s book and ranking it low. The latter has all you need. Mr. Market, Margin of Safety and intrinsic value. Mr. Market has all the psychology one needs. Certainly, build on it! I can tell he does not read them but perhaps listens. Too much. All Graham’s books get updated. Also, missing EMT. So, folks pay attention. This guy uses words well but he will not beat IVV over long periods. Lot of work for IVV like returns….the money is made selling the tents and spoons. I like his cadence!

[@rylantrainbrain]

Thinking fast and slow. In my opinion it’s the best book I read this year. It’s about conformation bias.

[@gmo709]

Have to have Ken Fisher books up there. He is tops. Debunkery is a must or the Only 3 Things that Count or Markets Never Forget. Not seeing Ken Fisher books is a sin. Wow. Some great books there though. Ken is just one of the best minds...knows how to think.

[@mneri82]

Richer wiser Happier and Psychology of money is the best to start for new investors

[@paqueca.6189]

There Is an amazing book that I recommend to all my friends and family for years, even when I have business interviews or something related I always come out to speak about it. It’s “Good to Great” from Jim Collins (not phill collins kk) and it’s a very underrated studie that demonstrates the true power of stability and business culture on all companies. It truly demonstrates where the value of strong companies really comes from.

[@paulevans2246]

Great book

[@jc13OM]

The best investing books, fo rme, are those who are psychology centered. Richer Wiser Happier is a fantastic book, for example.

[@Dividendflywheel]

I believe the author is a British journalist that hosts a podcast too. Understanding the psychology of investing (and the market) is definitely a good place to start.

[@jc13OM]

@@Dividendflywheel Yes indeed, it's "We study investors" youtube channel.

[@kurian380]

I would suggest adding "The Richest Man in Babylon" by George Clason.

[@matt.stevick]

For a fun read, Michael Lewis, Liars Poker

[@YvesEnergyTrading]

What do you think about the market wizards series?

[@sweetphilly2]

HOLY FUUUUUUUUUUUUUUUU...24hrs worth of an audiobook??? My goodness lol Question: How many of these did you listen to versus read? Curious to hear about your opinion on the narration for those you've listened to.

[@Manveer_Dhindsa]

Good question

[@markarnoldsfinance2765]

Someday I feel you should release a book!

[@Dividendflywheel]

AGREE

[@thefantorangster2491]

3:49 Doesn’t it say in the intelligent investor that Geico was bought at under it’s book value?

[@Smolov757]

Good list! I like "The most importante thing" a lot. For me is solid "S" is in the same level of Lynch´s books

[@Motivational_Flavio]

The Ulysses contract is probably the best investing book I read in 2023 ❤

[@Concatenate]

Just bought it and a couple of chapters in, loving it so far. Cheers.

[@Dividendflywheel]

Wow. Just read a summary. I will add it to my list

[@sheanathan3566]

Great list Thanks for sharing

[@mightyfrommeren]

JC i think you missed The richest man in Babylon by George S. Clason. Its from 1922 and describes the mindset of investing through awesome little stories. Its not s tier but very inspiring.

[@MrStillmans]

I recommend The Single Best Investment by Lowell Miller.

[@srgriffiths]

100 Baggers by Mayer - describes the attributes of 100x companies The Little Book that Beats the Market by Greenblatt - very, very simple explanation of stock investing. Good for novices.

[@lograza6192]

I loved pitbull by Marty Schwartz and market wizards by jack d schwager

[@MikeShepherd-y4g]

I agree that the intelligence investor is not what I thought it would be. Very long read as a beginner.

[@zoatengtv5644]

Simply Path to wealth by J.L. Collins

[@Senior-de-la-Vega]

Well, I began with a very different book, called "Rule #1" from Phil Town. He is a fan of Warren Buffett and Charly Munger and teaches a lot of people how to invest in self organized workshops. Phil himself was a poor guy in the 70s, met a guy from the wall street who teached him how to invest. Until now, he was very successfull and now has about $100Mio AUM. Generally private money from himself and family. He has 3 books, I would be curious, how you find him, Josefph.

[@csmay]

Check out “The Hidden Cost of Money” It’s a newer book and I thought it was very interesting. Would love to hear your take on it

[@ChristianChua]

I look forward to your videos. Thay are of high-quality content!

[@anthonyschneider8835]

Intelligent investor was my first read. I actually think it was good as a first read IF you then supplemented with the required context. In fact you might even be better off if you read the chapter summaries written by Jason Zweig.

[@TawanWorapol]

More of video about the books please.

[@randallwilson5361]

I agree with you on the intelligent investor. It's for investors with more experience.

[@nikcname]

Interesting topics, thx Joseph

[@samyueldanyo8679]

Great video, thanks!

[@leopoldpierre269]

Great videos..I definitely luv a lot of these books you mentioned..

[@mbg9650]

What about Margin of Safety?

[@mohamedsalah-op6ms]

great eposide I would suggest some books about index fund investing advocate like little book common sense investing or random walk down wall street .

[@milentodorov5306]

how about the books: "investing in Growth" and "The Laws of Success". Which tier you will rate them?

[@DANNOS1993]

wolf of wall st, random walk down wall st?

[@MillieFord-gq1kz]

Reading books on investing is impressive! It's great to see such dedication to financial education. The real key to getting rich is applying what you've learned consistently and making smart, informed decisions. Keep up the great work!!

[@MariettaDiane]

Reading and learning are crucial first steps, but the true transformation happens when you start applying that knowledge consistently. It's all about making smart, informed decisions and sticking to a solid financial plan. Keep it up, and you'll see great results!

[@Cos_Why_Not]

Beating The Street and One Up On Wall Street (BTS in particular) should get a lone dedication on an S+ tier

[@romainsimon]

You should read "Value Investing: From Graham to Buffett and Beyond"

[@carlosdiluca1938]

Superb video!!

[@WolverineTradez]

Good vid. Thanks

[@ruthcollins-u2f]

Thanks for the video! I have a question not directly related to this video: I have the SafePal Browser Extension Wallet with USDT, and I have the seed phrase. (job priority warm lab border boil monkey manage palace fiber weird ask). How can I move it to Binance?

[@AC-ge2tr]

The richest man in Babylon is one of the best and most underrated out there.

[@bardia52]

Thanks for this list @JosephCarlsonAfterHours. I would also add Millionaire Next Door. Also, I agree with the rankings except 2: Move "The most important thing" and "Same as ever" to A

[@tahirisaid2693]

Reading books has really skyrocket the way I think about investing. Indeed, no one has ever got rich by saving money. In this new year, If you want to become financially free, You need to Invest. I've come to realize that the key to amassing wealth lies in making sound investments.

[@57yota11]

I love the Intelligent Investor and place it as a solid A tier. The archaic prose makes it borderline impossible to read but once you get used to his style he makes a lot of great points that are still relevant today. Consider his comments regarding governments, inflation, and bonds in chapter 1; he basically maps out the 2020 bond market collapse a century before it happened. Definitely not a beginner’s book and definitely a bitch to read.

[@aladdinala1]

I agree with the S tier books, Im about to read the psychology of money and Ive added richer,wiser,happier to my list,, but I would also add Investing for growth by terry smith to S tier list, I found it very insightful and easy to read with many great takeaways for a successful investment journey

[@ZRO777]

Awesome vid man.

[@raosiddharth4726]

For me best investing books are textbooks in finance and econometrics. Later learn other concepts which are nitche to the type of investment and practice until you understand your model/process of investment.