Eight Excellent Books for a New Investor

I've updated the article with some new links because I have the opportunity to help a young, bright man with his college payments, and it's a son of a friend. I'm so happy I can support this way. So, if you click the links and maybe even buy one of the books using the links, you're helping a young person pay for college.

Phil Town, Payback Time

As you can see in the photo, my copy of Payback Time is full of bookmarks, because this book is packed with quality information about investing strategies. The book content of Payback Time and Phil Town's first book Rule One, is pretty much the same. I recommend both of the books but rather than reading them one after another, use one as a refresher several months after the first.


 

Guy Spier, The Education of a Value Investor

This book is a story about how Guy Spier discovered value investing and how the journey shaped his life. You'll learn about the values in this honest, and inspirational book. If you prefer audio books this one is a great listen.
Disclaimer: I received this book as a gift from Guy Spier. I read it before I got to know Guy and recommend it because of the content, not because I know the author.



L. J. Rittenhouse, Buffett's Bites

Though there is so much valuable information in Warren Buffett's letters to shareholders (almost 45 years published on Berkshire Hathaway's website), they can be difficult to read for new investors. Laura Rittenhouse makes reading them digestible in her book Buffett's Bites, where she takes the most important bits of Buffett's wisdom and delivers them in an easy to understand format without compromising the essence of the messages from Buffett. 
 


Mohnish Pabrai, The Dhandho Investor.

This book is an excellent audio book, if you prefer to listen to books rather than read them. In The Dhandho Investor Mohnish Pabrai explains how he discovered value investing and tells the story about how the Patel-family grew a successful accommodation business using the Indian principle of Dhandho. You must read the book to learn more about this very inspiring foundational belief.


Danielle Town, Invested

If you've followed me for a while on the blog or on my social channels, ou know that Danielle Town's book Invested was the book that made investing clear to me. From not knowing what I was doing when buying stocks to a completely changed view of the stock market and the world - this book was transformational for me. I highly recommend this book.



Jacob L. Taylor, The Rebel Allocator 

This is a fictional story about a young man and his mentor, and an excellent story if you're a brand new investor. It will teach you the most important principles behind value investing wrapped in an easily digestible format. This is great in audiobook format, but make sure that you review the accompanying PDF because there are some important drawings, that will teach you the principles behind capital allocation.


Mary Buffett and David Clark, The Buffettology Workbook

Mary Buffett - former daughter-in-law to Warren Buffett - has published a few books about Buffett's investing strategy from conversations she heard around the dinner table when she was married to Peter Buffett (Warren's youngest son). One of the books is Buffettology and this is a workbook that was published after the Buffettology book came out, and I bought it this summer at The Bookwork in Omaha. After I recommended this workbook on Instagram one of the community members wrote, that she found this workbook more helpful than Buffettology the book. 


Tony Robbins, Money Master the Game

This book is not a specific value investing book but I decided to share it because there are some important principles and topics in this book that are great for new investors to reflect on.  Tony Robbins is known to do his due diligence and searches for the clues that successful investors leave, so he wouldn't bring up role models that on the surface look good but in reality are unsuccessful. I was debating with myself if I should put it on my list or not, primarily because of the promotional nature of the book. Robbins does sell quite a lot of his services in the book and I cannot endorse these products.

Disclaimer: I do not get any compensation for any links in this article – a student may receive compensation to pay off his student loan.





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