Favorite Books
In my time as a trader/speculator/investor, I have come across many books and publications about Wall Street and the stock market – some useful but most not. It is interesting to note that more money has been on Wall Street authoring books, writing newsletters, and giving seminars than actually made on speculation itself. This may not seem obvious to the public today – given the fact that the greatest bull market in history has just ended – but in due time, I believe this fact will be made clear to most people. Following is a list of books which I believe will help my readers in gaining a better understanding of the stock market and trading in general. I believe that those who truly take the time to study these books and study stock market history will greatly benefit from this endeavor. There is really no “magical formula” in making money in the stock market. To truly succeed, one must put in the time and effort, especially since trading or speculating in the stock market is, in the author’s opinion, the most competitive profession there is today.
Please note that the author decided not to implement a personal rating system since he believes that the following books represent all kinds of trading styles – and some may be more beneficial to certain traders and vice-versa.
The Dow Theory
The ABC of Stock Speculation ~ by S. A. Nelson, 1903
The Stock Market Barometer ~ by William P. Hamilton, 1922
The Dow Theory ~ by Robert Rhea, 1932
How I Helped More than 10,000 Investors to Profit in Stocks ~ by E. George Schaefer, 1960
The Dow Theory Today ~ by Richard Russell, 1961
Globalization
The World Is Flat: A Brief History of the Twenty-First Century ~ by Thomas L. Friedman, 2005
Hedge Funds
When Genius Failed ~ by Roger Lowenstein, 2000
Hedge Hogging ~ by Barton Biggs, 2006
Inside the House of Money ~ by Steven Drobny, 2006
Hedge Hunters: Hedge Fund Masters on the Rewards, the Risk, and the Reckoning ~ by Katherine Burton, 2007
Jesse Livermore
Reminiscences of a Stock Operator ~ by Edwin Lefevre, 1923
How to Trade in Stocks ~ by Jesse Livermore, 1940
The Market Wizards
Market Wizards ~ by Jack Schwager, 1989
The New Market Wizards ~ by Jack Schwager, 1992
Stock Market Wizards ~ by Jack Schwager, 2001
Peter Bernstein
Capital Ideas: The Improbable Origins of Modern Wall Street ~ by Peter Bernstein, 1992
Capital Ideas Evolving ~ by Peter Bernstein, 2007
Peter Lynch
One Up On Wall Street ~ by Peter Lynch with John Rothchild, 1989
Beating the Street ~ by Peter Lynch with John Rothchild, 1993
Value Investing
The Five Rules for Successful Stock Investing: Morningstar’s Guide to Building Wealth and Winning in the Market ~ by Pat Dorsey, 2004
Warren Buffett
Buffett: The Making of an American Capitalist ~ by Roger Lowenstein, 1995
Others
The Money Game ~ by George J. W. Goodman, 1976
How I Made $2 Million in the Stock Market ~ by Nicolas Darvas, 1986
The Millionaire Next Door ~ by Thomas Stanley & William Danko, 1996
Prophet of Innovation – Joseph Schumpeter and Creative Destruction ~ by Thomas McCraw, 2007
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