Random Walk Down Wall Street by Burton G. Malkiel (read for free)
A controversial book, but one which holds water. One of the main themes is that no type of analysis outperforms the market, or that no matter how hard you try to pick stocks, nothing will be stronger than simply purchasing the S&P 500 and holding onto it.
Specifically states that no prior knowledge is necessary for reading it, something I think points towards a positive.
Distinguishes Investing vs Speculating.
Will have to do more reading, but I would say this is a worthwhile purchase.Burton Gordon Malkiel. A Random Walk down Wall Street : The Time-Tested Strategy for Successful Investing. New York, W.W. Norton & Company, 2019.
Intelligent Investor by Benjamin Graham (read for free)
Likely the best investing book ever written, but very difficult and filled with jargon and terminology.
Would recommend it only for advanced readers, but it truly is the best book for those who have that level of skill. Practically unmatched.
Somewhat more expensive than other books on the list, but the full 500 pages likely makes it worth it.
Focuses not only on stocks, but on every area of investment, such as bonds.
Taught Warren Buffet how to invest
Believes in intrinsic value and trading based on intrinsic value
Formulaic approach to investingGraham, Benjamin, et al. The Intelligent Investor : A Book of Practical Counsel. New York, Harper Collins, 2013.
The Richest Man In Babylon by George S. Clason
As much of a philosophical text as a financial one, The Richest Man in Babylon is a time tested classic, illustrating the path to wealth through hard work, frugal living, and wise investing.
This is told through the story of Arkad, a lowly scribe in Babylon’s Hall of Records. He observed the realities of the free market: having strength and value will make you earn money for others, and therefore yourself. And he shows you how he turned money into wealth, through saving and investing, repeatedly learning from his own and other’s mistakes.
This text provides a valuable understanding of wealth which anyone, struggling to earn and grow wealth, can benefit from. Living within your means will make those wins and vacations feel 10x better than when one enjoys them borrowed.Clason, G S. The Richest Man in Babylon. Bn Publishing, 2008.
The Infographic Guide to Personal Finance by Michele Cagan & Elisabeth Lariviere
A picture filled, easy-to-understand book on understanding one’s own money.
Encourages and helps young people to adapt the pillars of financial independence, which have been popularized by people like Dave Ramsey. You may not learn how to be Bill Gates with this book, but you will be able to build your wealth and make a solid plan for the future.
Teaches that money is amoral, it can be used poorly or well. Start learning and gaining control of your money when you are young! You will never have to worry about it later.
Talks about investing, budgeting, insurance, financial planning, the whole nine yards.
Encouraged by veteran financial literacy teacher Tony, likely the most powerful and attention grabbing title on this list (From a layman’s standpoint).Cagan, Michele, and Elisabeth Lariviere. The Infographic Guide to Personal Finance : A Visual Reference for Everything You Need to Know. New York, Adams Media, An Imprint Of Simon & Schuster, Inc, 2017.
Big thanks to Aidan for his passion, Naima for her guidance, and for Tony. All books are on order for our CAS collection. If CAS students would like them as an audiobook, please reach out via email to firstname.lastname@example.org.