The 13 Best Investment Books

At a glance:

  •  Investment books are a vital resource for grasping financial principles that stand the test of time and resist the fluctuations of market cycles.

  •  These works, written by investors and experts with decades of experience, help to structure financial thinking, interpret risks, and develop a long-term vision.

  •  This article compiles a list of the 13 best investment books, which includes both essential classics and modern references to suit different investor profiles.

Investment books are a valuable resource for gaining an understanding of financial markets and making more informed decisions over time. These works bring together the experience of renowned investors and experts to help structure financial thinking, manage risk and adopt a long-term vision.

With these investment books, you’ll gain insight into the thinking of influential investors, as well as tips and advice on how to build a portfolio wisely. Add these must-read books on investing to your reading list.

1. "The Intelligent Investor”, by Benjamin Graham

This is one of the best investment books and a must-read for anyone who wants to deepen their financial knowledge. The author is one of the greatest investment advisers of the 20th century and has been a source of inspiration to people all over the world.

This book is a classic that helps investors avoid the most common mistakes and develop long-term strategies. It has sold millions of copies and deserves to be kept and re-read, especially before making a major investment decision.

"This is by far the best book ever written on investing.” — Warren Buffett

To find out more about the kind of content you'll find in this book, watch this informative video.

2. "Warren Buffett’s Letters: Lessons for investors and shareholders selected from the letters to Berkshire Hathaway shareholders”, by Lawrence A. Cunningham and Warren Buffett

Warren Buffett took control of Berkshire Hathaway Inc., a small textile company, in April 1965. At the time, each share sold for around €18 – a figure that would rise to more than €220,000 almost 50 years later.

This book is an unedited collection of Warren Buffett's letters to shareholders from that period, with unprecedented access. You can still feel Buffett’s eagerness and enthusiasm to share his methods, in intelligent, humorous accounts full of popular references that are a pleasure to read.

"Berkshire's letters to shareholders provide a comprehensive overview of business and investment.” — The Economist

3. "Markets and Economics in the Hands of AI”, by Paulo Monteiro Rosa

This book, written by Paulo Monteiro Rosa, Senior Economist at Banco Carregosa, examines the growing impact of artificial intelligence on financial markets and the global economy, presenting AI as a new driver of structural growth. This work combines technology, macroeconomics, and investment to shed light on the opportunities, risks, and practical implications for investors in an ever-changing world.

A topical and informative read for anyone looking to understand the influence of artificial intelligence on economic decisions and investment strategies.

"Artificial intelligence will continue to influence markets until it becomes widespread and establishes itself as a key driver of the global economy.” — Paulo Monteiro Rosa

4. "Market Wizards”, by Jack Schwager

This book on investing is a must-read for anyone who wants to know how different investors think. It brings together a series of interviews conducted by Jack Schwager with a wide range of traders. What makes these interviews so compelling is the openness with which investors share their most challenging moments. It is often in these difficult moments that the most valuable lessons can be learned.

On each page, readers will discover some of the conditions that can lead to failure, such as a lack of focus and discipline, poor risk management, and inadequate planning. More than just a recommended book, this is an essential source of insight from some of the world’s most respected and successful professionals.

It is worth discovering the other interview books that followed, such as "Hedge Fund Market Wizards: How Winning Traders Win”, "Market Wizards: Interviews with Top Traders” and "Stock Market Wizards”, which continue to inspire the strategic decisions of professionals around the world.

"This is a must-read for anyone who wants to understand the thought processes of great traders.” — Financial Times

Watch this video to discover the key highlights of each book.

5. "Beating the Street”, by Peter Lynch

In this international bestseller, Peter Lynch, one of the leading figures in the world of finance, reveals the secret to building a successful investment portfolio and outperforming the market. His legacy is one of creating strategies capable of delivering significant returns while remaining accessible to the ordinary investor.

Lynch takes the reader through a detailed, step-by-step process of picking the right stocks and building a solid portfolio, based on his own experience and intuition. The great strength of this book is the way in which the author simplifies the research process needed to make informed and effective investment decisions. He also provides guidance on how to select the best funds and improve investment performance.

"Peter Lynch demonstrates that anyone can achieve success in investing, provided they conduct thorough research.” — Barron’s

Watch this video for a summary of what you can expect to find in this book.

6. "Ordinary Shares, Extraordinary Profits”, by Philip Fisher

These are 15 key points for choosing the best stock market investments, listed by one of the most influential investors of all time. Presented over 60 years ago, they are still used and studied today.

Philip Fisher has inspired generations of professionals, including Warren Buffett, and in this single volume he presents his most important texts in an accessible and practical way. The book is recommended for anyone who wants to deepen their knowledge of the stock market.

"As an avid reader of everything Philip Fisher has written, I can highly recommend this book.” — Warren Buffett

Watch this video to see the key highlights of the book.

7. "Investing in stocks for the long term”, by Jeremy J. Siegel

How do you build a long-term profitable portfolio in times of crisis? This masterpiece provides a unique perspective on historical trends and on identifying opportunities. A must-read for anyone seeking an in-depth understanding of the forces that drive markets, backed by years of research and translated into practical terms.

"A robust, data-driven defence of long-term stock investment.” — The Wall Street Journal

8. "Principles for Dealing with the New World Order”, by Ray Dalio

"Principles for Dealing with the New World Order” is a fundamental guide to understanding the global economy and identifying investment opportunities in the future. After half a century of extensive research into different economies, global markets and even empires of the past, Ray Dalio combs through key historical periods to find patterns and causal relationships in the major changes of the last 500 years. Banco Carregosa has written a foreword to the special edition of this book.

"A clear framework for understanding major economic and geopolitical cycles.” — Financial Times

9. "How to Get Rich in the Stock Market with Warren Buffett”, by David Clark and Mary Buffet

Over 10 years, Warren Buffett achieved an average annual return of 30%, while the global market average was just 10%. This investment book reveals more about what happened behind the scenes during this period. It is filled with practical advice, showing, for example, how to identify a company to invest in. It also highlights common mistakes when calculating rates of return, and issues warnings about things like excessive short-term focus.

"A practical guide to using Warren Buffett’s principles to analyse companies.” — Forbes

10. "The Psychology of Money”, by Morgan Housel

In this book, Morgan Housel shows that changing habits is a complex challenge, even for the most intelligent people, because logic often gives way to emotion. This book uses 19 short stories to reveal the strange ways in which we think about wealth, teaching us to master the psychological side of one of the most crucial topics in our lives.

"One of the best books ever written on financial behaviour.” — Howard Marks

11. "Rich Dad, Poor Dad”, by Robert Kiyosaki

Widely considered to be one of the most influential books ever written on personal finance, it challenges our traditional views on work and money. Kiyosaki uses his own story to illustrate the difference in mindset between people who work for money and those who make money work for them.

The book’s central concept is the clear distinction between assets and liabilities. It encourages readers to acquire income-generating assets, such as property or shares, rather than investments that are actually expenses. This is one of the best books on investing for anyone looking to change their financial mindset.

"It challenges our traditional way of thinking about money, work, and investment.” — USA Today

12. "Thinking, Fast and Slow”, by Daniel Kahneman

Written by a Nobel Prize winner in Economics, this book is one of the modern foundations of investment. In the book, Kahneman explores the two systems that shape our judgement: one fast and intuitive, and the other slower and more logical.

This work is crucial in helping us to identify the cognitive biases that cause us to make poor financial decisions, such as loss aversion and overconfidence. Understanding these flaws in human thinking enables investors to manage risk more rationally and avoid the most common mistakes made during market cycles.

"A foundational piece of research for understanding how we make decisions, including financial ones.” — The New York Times

13. "The Elements of Investing”, by Burton G. Malkiel and Charles D. Ellis

The books by Malkiel and Ellis have helped millions of people to understand the fundamentals of investing and achieving their financial goals.

This book covers crucial lessons in risk mitigation and achieving success, with a particular focus on long-term investment. Harry Markowitz, winner of the Nobel Prize in Economics, said the following about this work: "This is the essence of everything we need to know about investing”.

"A clear and disciplined approach for long-term investors.” — CFA Institute

Banco Carregosa, expert advice for investors

This selection of investment books covers everything from basic principles to more advanced strategies to help investors explore the world of finance with greater confidence.

Whether you’re just starting out or looking to fine-tune your strategy, the Banco Carregosa team can help you make informed decisions and achieve your financial goals by sharing their experience and knowledge. Contact us.