Stock Market: Books

Investing is one of the most morally charged and important things we can do. If we are privileged enough to be among the few who have more money than is necessary to survive, we must be careful how we allocate that excess capital. Ultimately, it could determine how the world works for our children.

Phil Town

Following the 2008 credit crisis and bear market and the huge 2009-2010 boom off the bottom, I thought I could revisit the questions to show, first, details change, but human behavior doesn't--not fast enough. And second, to show that if you have a good strategy aimed at knowing what others don't, that can work no matter what the market environment, what just happened or how much people think the world has changed. Nothing works 100% of the time, and things that worked once stop working then start working again later. But if you have a good, scientific method aimed at knowing what others don't--that should serve you well, always. And in updating the book, it was amazing how well the questions and all the examples I used held up.

Ken Fisher

After more than 30 years of investing professionally and after 14 years of teaching at an Ivy League business school, I am convinced of at least two things: first, if you really want to "beat the market", most professionals and academics can't help you; and second, that leaves only one real alternative: You must do it yourself.

Joel Greenblatt

Warning: This material is supplied for illustrative purposes only, and because of the inescapable necessity in security analysis to project the future growth rate for most companies studied. Let the reader not be misled into thinking that such projections have any high degree of reliability or, conversely, that future prices can be counted on to behave accordingly as the prophecies are realized, surpassed, or disappointed.

Benjamin Graham

The central process of value investing is disarmingly simple. A value investor estimates the fundamental value of a financial security and compares that value to the current price Mr. Market is offering for it. If price is lower than value by a sufficient margin of safety, the value investor buys the security. We can think of this formula as the master recipe of Graham and Dodd value investing.

Bruce C. N. Greenwald

When a low PE, low expectation stock reports disappointing news, the effect is usually minimal. Conversely, when a low expectation stock surprises the market with good news, the price can pop. The reverse is proven to happen with high expectation stocks. If they report a good quarter, the stock does not necessarily jump. It was already priced to anticipate good news. But bad news can crater a high-expectation stock.

Christopher H. Browne

Peter Lynch's niche investing; John Neff's sophisticated low price-earnings ratio investing; Benjamin Graham's three forms of value investing; Philip Fisher's bonanza investing; Warren Buffett's and Charles Munger's business prospective investing; the valuegrowth method; the analysis of industries; competitve resource analysis.

An excellent introduction to value investing, some of its most famous practitioners and the investments that made them rich.

Mark Wallace, Rothschild

Stocks for the Long Run set a precedent as the most complete and irrefutable case for stock market investment ever written. Now, this bible for long-term investing continues its tradition with a fourth edition featuring updated, revised, and new material that will keep you competitive in the global market and up-to-date on the latest index instruments.

...you have recently decided that you would like to learn what you really need to know about how to read a financial statement without investing several months of your time and getting so confused and frustrated that you give up. That's good, because it means that this book can help you.

James Bandler

The best value candidates are stocks that analysts don't like. Conversely, growth investors need to see some, but not too much, enthusiasm for their candidates.

Harry Domash

"The Tape Tells All" is more than a cute slogan. It's a market philosophy that works. What it simply means is that all of the relevant information about a company's earnings, new products, management, and so forth – the fundamentals – that is currently known and cared about is already incorporated in the price of its stock.

Stan Weinstein