The Intelligent Investor

#1 for me would be The Intelligent Investor, by Benjamin Graham.

on HN, 2008

Personally, I am a value investor so I can only recommend books from that school of thought. The basic idea is that you look at the fundamentals of a company and the stock market can misprice them. The holy grail is finding a company where the sum of (current) assets is worth more than the current market valuation via the stock price because in essence that means if the company would be liquidated and everything would be sold off, you'd still walk away with a profit. In essence, you're trying to buy 1$ for < 1$.

on HN, 2020

Lastly, one "must-read" book is The Intelligent Investor by Ben Graham. The revised edition with notes from Jason Zweig is excellent. The industry is still obsessed with the book ~70 years after it came out and for good reason. Even if you disagree with it or think it's outdated (and many do), the book comes up so often it's worth reading to be in the loop.

on HN, 2016

The Intelligent Investor by Benjamin Graham (get the annotated version with an epilogue written by Warren Buffett!)

on HN, 2018

For finance I very much enjoyed The Intelligent Investor, which also (apparently) inspired Warren Buffett's investing philosophy.

on HN, 2016

The Intelligent Investor - This is Buffet's favourite book, and regardless of how many times I read it, I still learn more. One can never digest it in full.

on HN, 2020

I read both Malkiel's book and Grahams' book this year and was much more convinced by the former, especially in the context of just wanting to put some money away and not work at it too much - although to his credit, Graham also says that investors like this should not be all that active.

on HN, 2011