Investment books I have read.

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Taylor Larimore
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Investment books I have read.

Post by Taylor Larimore »

Bogleheads:

Nearly everything I know about investing I learned from experience (the hard way) and reading books. To avoid re-reading the same books, I keep a list of books I've read with occasional comments. Quotes from many of the best books are in my Collection of Investment Gems and What Experts Say.

The Affluent Investor, DeMuth (Gem)*
The Affluent Investor, Rapport
Against the Gods, Bernstein (excellent)
Ages of the Investor, Wm. Bernstein
All About Asset Allocation, Ferri (Gem)
All About Index Funds, Ferri (Gem)
Alternative Investments, Swedroe/Keiser
American Sucker, Denby (bear market experience)
Asset Allocation, Gibson (Gem)
Asset Allocation, Arnott & Fabozzi (excellent)
At the Crest of the Tidal Wave, Prechter (Elliot Wave Theory)
Baron’s Guide to Investment Decisions, Sease
Battle for the Soul of Capitalism, Bogle (Gem)
Behavior of Markets, Mandelbrot & Hudson (anti Efficient Market)
Beyond Stocks, John Merrill (very good)
Big Investment Lie, Edesess (Gem)
Billion Dollar Funds, Fosbeck
Blackwell Guide to Wall Street, Blackwell
Bogle on Mutual Funds, Bogle (his first book, excellent)
Bogleheads' Guide to Investing, Larimore, Lindauer, LeBoeuf (Gem)
Bogleheads' Guide to Retirement Planning, Larimore, Lindauer, Ferri, Dogu (Gem)
Bogleheads' Guide to The Three-Fund Portfolio, Larimore
The Bond Book, Thau (a classic)
Business Week’s Guide to Mutual Funds (excellent)
Can I Retire, Piper (Gem)
Capitol Ideas, Bernstein (Sharpe, Markowitz, etc.) Very good history of markets
Character Counts, Bogle (Gem)
Charles Schwab’s Guide to Financial Independence, Schwab
Choosing an Investment, Seligman
Clash of Cultures, Bogle (Gem)
Coffeehouse Investor, Schultheis (Gem) (newbies)
Commonsense Guide to Mutual Funds, Rowland
Common Sense Investing, Rick VanNess (Gem)
Common Sense on Mutual Funds-Second Edition, Bogle (Gem) (excellent)
Complete Idiots Guide, Koch, DeSalvo, Kennon
Complete Idiot’s Guide to Retiring Early, Flewelling (very good)
Contrary Investing in the 90s, Band
Dun & Bradstreet Guide to Your Investments in 1990
Devil Take the Hindmost, Chancellor (about bubbles)
Devil's Financial Dictionary, Zweig (Gem)
Diversify, Perritt and Levine
Discover the Wealth Within You, Edelman (poor)
Donaghue Stratagies, Donaghue (made me a temporary market-timer) :(
Don’t Count On It, Bogle (Gem)
Dow Jones-Irwing Guide to Mutual Funds, Rugg & Hale
Dynamic Asset Allocation, Hammen
Dynamic Stock Market Analysis, Corney
Elements of Investing, Ellis & Malkiel (Gem)
Enough, Bogle (Gem)
Essential Dictionary of Investment & Finance
Eight Steps to Seven Figures, Carlson
Economic Time Bomb, Brown
Enough, Bogle (Gem)
ETF Book, Ferri (Gem)
Everything You’ve Heard About Investing is Wrong, Gross (bonds)
Fidelity Guide to Mutual Funds, Rowlands
Fifty Ways to Mutual Fund Profits, Levine
First Time Investor, Chambers & Rogers (fairly good)
Forecasting Financial Markets, Plumber
Four Pillars of Investing, Bernstein (Gem)
Fund your Future, Stav (very poor)
Funding Your Future, Clements
Get Rich Slowly, Spitz
Getting in on the Ground Floor, Leeb (market timing)
Great Mutual Fund Trap, Baer & Gensler (Gem)
Grow Rich Slowly, Underwood & Brown
Guide to Financial Independence, Schwab
Heads I Win, Tails I Win, Jakob (Gem)
House that Bogle Built, Braham (Gem)
How a Second Grader Beats Wall Street, Roth (Gem)
How Mutual funds Work, Fredman & Wiles
How to Buy Mutual Funds the Smart Way, Littarer
How to Make Money with Mutual Funds, Markenstein (no good)
How to Make Your Money Last, Quinn
How to Pick the Best No-Load Mutual Funds, Jacobs
How to Think About Money, Clements (Gem)
Hulbert Guide to Financial Newsletters, Hulbert
The Incredible Shrinking Alpha, Swedroe/Berkin
If you Can, Wm. Bernstein (Gem) (excellent for new investor)
Index Fund Solution, Evans & Malkeil
Index Funds, Hebner (Gem)
Index Mutual Funds, Maley
Index Mutual Funds, Simon (excellent)
Index Your Way to Investment Success, Good & Hermansen (Gem)
Individual Investor’s Guide, AAII
Individual Investor Revolution, Carlson
Inflation Proofing Your Investments, Browne
Informed Investor, Armstrong (Gem)
Intelligent Asset Allocator, Bernstein
Intelligent Investor, Graham & Zweig (Gem)
Intelligent Portfolio, Jones (Gem)
Intermarket Technical Analysis, Murphy
Investing During Retirement, Vanguard
Investing For Dummies, Tyson”
Investing For a Lifetime, Merriman (market timing)
Investing For a Lifetime, Browne
Investing in Uncertain Times, Nichols
Investing Made Simple, Piper (Gem)
Investing Mistakes Even Smart Investors Make, Swedroe (Gem)
Investing Strategies For the 21st Century, Armstrong (Gem)
Investment Titans, Burton
Investment Fables, Damodaran (very good)
Investment Fundamentals, Gitman & Joehnk
Investment Guru’s, Tanous (good)
Investment Mistakes Even Smart Investors Make, Swedroe (Gem)
Investment Policy, Ellis
Investments, Introduction to Analysis & Management, Amling (solid)
Investors Guide, Am. Assoc. of Individual Investor’s (Gem)
Investor’s Guide to Mutual Funds, Haslem
Investor’s Guide to Mutual Funds, Martin
Investor’s Manifesto, Bernstein (Gem)
John Bogle and The Vanguard Experiment, Slater (best biography)
John Bogle on Investing, Bogle (Gem)
Jonathan Clements Money Guide 2015 (Gem)
Keys to Investing in Mutual Funds, Brouwer
Kurt Brouwer’s Guide to Mutual Funds, Brouwer
Late Bloomer Millionaires, Schullo & Robertson (Gem)
Lazy Person’s Guide to Investing, Farrell (Gem)
Lew Altfest Answers Questions About Money, Altfest
Lies Your Broker Tells Your, Slater
Little Book of Common Sense Investing, Bogle (Gem) (great for beginners)
Little Book of Main Street Money, Clements (Gem)
Little Book of Safe Money, Zweig (Gem)
Live It Up Without Outliving Your Money, Merriman
Making It in the Market, Crawford (good about various investments)
Making Money, Ruff
Making Money With Mutual Funds, Blitzman & Renburg
Making the Most of Your Money, Quinn (best financial reference book)
Man in the Arena, Rostad (tributes to Jack) (Gem)
Managing a Portfolio of Mutual Funds, Rutherford
Market Timing With No-Load Mutual Funds, Merriman (fair)
Marshall Loeb’s Lifetime Financial Strategies, Loeb
Martin Zweig's Winning On Wall Street, Zweig
Mathematician Plays the Stock Market, Paulos (poor)
Millionaire in You, LeBoef (Gem)
Misbehavior of Markets, Mandelbrot (poor)
Modern Mutual Fund Families, Anderson & Ross (timing & alpha)
Money Dynamics for the 90’s, Van Casper
The Money Game, Smith
Money Mantras, Singletary,
Money Talks: Quotes on Money & Investing, Maggio
Money Misery Madness, Weber
Money Matters, Strassel
Money Guide 2015, Clements (very good)
Morningstar Guide to Mutual Funds, Benz, DiTeresa, & Kennel (Gem)
Mugged on Wall Street, Chase
Multi-Fund Investing, Hirsh
Mutual Fund Buyer’s Guide, Fosback
Mutual Fund For Dummies, Tyson (Gem)
Mutual Fund Portfolio Planner, Dorf
Mutual Fund Superstars, Donoghue
Mutual Fund Switch Strategies, Hirsh
Mutual Fund Wealthbuilder, Hirsh
Mutual Funds For Dummies, Tyson
Mutual Fund Switch Strategies, Boroson
Mutual Funds: How to Invest with the Pros, Brouwer
Mutual Funds—Taking the Worry Out of Investing, Ross
New Contrarian Investment Strategy, Dreman
The New Finance, The Case against Efficient Markets, Haugen
New Game on Wall Street, Sobel
New Money Masters, Trane
New Mutual Fund Investment Advisor, Dorf
New Contrarian Investment Strategy, Dreman
New Strategies for Mutual Fund Investing, Rugg
New York Times Mutual Fund Guide, Gould
No Load Mutual fund Guide, Donoghue
No Nonsense Finance, Moody
No Loads, Kearis
One Hundred Best Mutual Funds, Williamson
Only Guide to Alternative Investments, Swedroe (Gem)
Only Guide For The Right Financial Plan, Swedroe (Gem)
Only Guide to a Winning Bond Strategy, Swedroe (Gem)
Only Guide to a Winning Investment Strategy, Swedroe
Only Guide You'll Ever Need for the Right Financial Plan, Swedroe, Grogan & Lim (Gem)
Only Investment Guide You Will Ever Need, Tobias (Gem)
Only Other Investment Guide You Will Ever Need, Tobias (Gem)
Only Proven Road to Investment Success, Sengupta (Gem)
Only Retirement Guide You Will Ever Need, Petras
Outperforming the Market, Merrill (well done)
Permanent Portfolio, Browne & Rowland & Lawson (Gem)
Personal Finance for Dummies, Tyson (excellent)
Planning for Retirement, Hallman (Comprehensive about IRAs)
Planning Your Retirement, Porter
Portfolio Selections, Markowitz
Power of Passive Investing, Ferri (Gem)
Practicing Financial Planning, Mittra
Probability of Fortune, Milevsky (Gem)
Protecting Your Wealth, Ferri (excellent)
Protecting Your Wealth in Good Times and Bad, Ferri (Gem)
Prudent Investor’s Guide to Beating the Market, Bowen & Reinhardt
Prudent Investor’s Guide to Beating Wall Street, Bowen & Goldie
Prudent Speculator, Frank
Quest For Alpha, Swedroe, (Gem)
Random Walk and Beyond, Johnson (good)
Random Walk Down Wall Street, Malkiel (classic)
Random Walk Guide to Investing, Malkiel (Gem) (very good)
Wealth of Common Sense, Carlson (Gem)
Rational Investing in Irrational Times, Swedroe (Gem)
Retire Secure! For Same-Sex Couples, Lange
Retire in Style, Soltesz
Retire Rich, Morse
Retirement Challenge, Frank Armstrong (Gem)
Richest Man in Babylon, Clason
Road to Stock Market Success, Halpern
Roadmap For Investing Success, Keck (free online) (Gem)
Safe Investing, Slatter
Save Your Retirement, Armstrong & Brown(Gem)
Serious Money, Ferri (free online) (Gem)
Simple Path to Wealth, Collins (Gem)
Smart and Simple Financial Strategies, Quinn (Gem)
Smart Money for the 90s, Money Mag Editors
Smartest 401(k) Book You’ll Ever Read, Solin (Gem)
Smartest Money Book You’ll Ever Read, Solin (Gem)
Smartest Portfolio You’ll Ever Own, Solin (Gem)
Stock Market Logic, Fosback (classic)
Stock Trader's Almanac, Hirsch
Stocks for the Long Run, Seigel (excellent)
Story of Investment Companies, Bullock (mentions my grandfather)
Straight Talk About Mutual Funds, Vujovich
Straight Talk on Investing, Brennan (Gem)
Strategic Investment Timing, Stoken
Successful Investing, Babson
Successful Investing In No-Load Mutual Funds, Pope (good for lst timer)
Successful Investor Today, Swedroe (Gem)
Successful No-Load Fund Investing, Jacobs (excellent)
Surviving the coming Mutual Fund Crises, Christenson (good)
Tactical Asset Allocation, Dubios
Take on the Street, Levitt (Gem)
Teenage Investor, Olsen
Think, Act, Invest Like Warren Buffett, Swedroe (Gem)
Thirty-Minute Money Solutions, Benz (Gem)
Timing the Market, Weiss
Triumph of the Optimists, Dimson (excellent data)
Twenty-five Investment Classics, Gough
Twenty-Five Myths You’ve Got to Avoid, Clements
Ultimate Mutual Funds Guide, Boroson (17 Experts)
The Unbeatable Market, Ross (Gem)
Unconventional Success, Swensen (Gem)
Unveiling the Retirement Myth, Otar (too mathematical)
Vanguard Retirement Investment Guide, Vanguard
Wall Street Gurus, Brimelow
The Warren Buffett Shareholder, Cunningham and Cuba
Wealth of Experience, Brennan & Clark (Gem)
Wealth without Risk, Givens (BS)
We’re Not in Kansas Anymore, Updegrave (Gem)
What Wall Street Doesn’t Want You To Know, Swedroe
What Works on Wall Street, Zweig (excellent)
Where are the Customer’s Yachts, Schwed (Gem)
White Coat Investor (Gem) (best book for physicians)
Why Bother With Bonds? Rick Van Ness (Gems)
Why Smart People Make Big Money Mistakes, Belsky (behavioral economics)
Winning in Mutual Funds, Schabacker
Winning on Wall Street-1986, Zweig
Winning the Loser's Game, Ellis
Winning With Bonds, Rick Van Ness
Winning With Index Mutual Funds, Tweddel & Pierce (Gem)
Winning with Mutual Funds, Editors of Money Magazine
Winning with the Market, Sease
Winning with New IRA’s, Zweig (very good)
Winning Portfolio, Farrell
Wise Investing Made Simple, Swedroe (Gem)
Wise Investing Made Simpler, Swedroe
Yes, You Can Achieve Financial Independence, Stowers
Yes, You Can Time the Market, Stein/DeMuth (poor)
Yes, You Can Supercharge Your Portfolio, Stein & DeMuth (Gem)
Your Complete Guide to Factor-Based Investing, Berkin & Swedroe
Your Money and Your Brain, Zweig (Gem)
Your Money or Your Life, Cavuto (little about investing)
Your Money or Your Life, Dominguez (Poor)
You’re 50. Now What? Schwab (excellent)
You’ve Lost It. Now What? Clements (Gem)
You’re Retired, Now What? Yolles (fair)

*Gems

*What Experts Say

Best wishes.
Taylor
Last edited by Taylor Larimore on Sat Sep 15, 2018 1:48 pm, edited 3 times in total.
"Simplicity is the master key to financial success." -- Jack Bogle
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InvestorNewb
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Re: Investment books I have read.

Post by InvestorNewb »

That is an impressive list, Taylor. Thanks for sharing.
My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest)
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Mel Lindauer
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Re: Investment books I have read.

Post by Mel Lindauer »

You left two books you helped write off the list. I'm sure you read The Bogleheads' Guide to Investing and The Bogleheads' Guide to Retirement Planning.

Leave it to the Marine to take care of his paratrooper buddy! :D
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Re: Investment books I have read.

Post by peppers »

Taylor,
You are a living investment library. :)
"..the cavalry ain't comin' kid, you're on your own..."
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Re: Investment books I have read.

Post by pkcrafter »

Wow, something around 300 books! Taylor has read it all, and he's been there and done that. The take away for Bogleheads is listen to what Taylor advocates and don't go climbing out on limbs trying to get that piece of fruit that looks just a little better.

Thanks, Taylor. You are the Gem!

Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.
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Tycoon
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Re: Investment books I have read.

Post by Tycoon »

Simply amazing!
Emotionless, prognostication free investing. Ignoring the noise and economists since 1979. Getting rich off of "smart people's" behavioral mistakes.
am
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Re: Investment books I have read.

Post by am »

Amazing!

And after all that, it comes down to a Vanguard 3 funder and stay the course :)
nepats
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Re: Investment books I have read.

Post by nepats »

Thank you for doing this! I need to start reading more :shock:
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Re: Investment books I have read.

Post by Silence Dogood »

Taylor Larimore wrote: Little Book of Common Sense Investing, Bogle (Gem) (Love it for beginners)
I agree! This is the book that made me a Boglehead!

I remember sometime in the summer of 2010 (19 at the time) I was in my town's public library and wanted to learn more about investing. I opened a Vanguard account the year before and I noticed that the book was written by Vanguard's founder. I was very lucky. I could have just as easily chosen to invest somewhere else and I would have never read that book (and found this site).

My first investment (at age 18) was the Wellesley Income Fund. A good fund but not really suitable in a taxable account and for an 18 year old. I believe I chose it because of past performance and I liked the name.

My second investment (just after I turned 19) was the Vanguard Precious Metals and Mining fund (after following the advice of market "gurus" talking about how precious metals would take off :oops:).

Fortunately, that following summer I read Bogle's book and became the Boglehead who I am today.

(100% Vanguard Target Retirement 2055 in a Roth IRA).
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Re: Investment books I have read.

Post by Ever Ready »

Taylor,

You've journeyed through acres of investment "gems" to find the 3 fund portfolio "Majesty of Simplicity" in your own backyard.

Thanks for sharing your wisdom. I hope it saves others much time and trouble.

Thanks,

Ed (Ever Ready)
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Re: Investment books I have read.

Post by Sriracha »

Oh, man! It took me long enough just to read all those titles -- forget about the books themselves. :shock:
Don't reach for yield.
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Taylor Larimore
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The Three Fund Portfolio

Post by Taylor Larimore »

Taylor,

You've journeyed through acres of investment "gems" to find the 3 fund portfolio "Majesty of Simplicity" in your own backyard.
Ed:

Strange but true.

This is The Three Fund Portfolio

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: Investment books I have read.

Post by Caduceus »

Goodness gracious! Thanks for the list.
bondsr4me
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Re: Investment books I have read.

Post by bondsr4me »

ah ha.....I went through your list....AND.....much to my dismay???? I didn't see one book by JIM CRAMER!!

ha ha...just kidding Taylor....that is quite an impressive list you have there...

I haven't read nearly that many....but I AM tryng to read/absord more!

Have a great day in Sunny Florida!!

Don

oh yes...don't forget to tune in to CNBC today to get latest financial wizardry so you can "time" the markets!!...uh huh
Tom_T
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Re: Investment books I have read.

Post by Tom_T »

Taylor, I'm curious -- do you happen to recall the first book on investing that you ever read?
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ofcmetz
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Re: Investment books I have read.

Post by ofcmetz »

Thanks for sharing your impressive list. And I thought I was well read. :D

My first investing book was Mutual Funds for Dummies by Tyson.

Edit: I'm going to use your list to add to my amazon wish list.
Never underestimate the power of the force of low cost index funds.
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swimirvine
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Re: Investment books I have read.

Post by swimirvine »

I've been a "boglehead" since May 28th, 2013 ... so around 8 months. Here's my short list of books I've read in order:

The Smartest Investment Book You'll Ever Read - Solin
The Smartest 401k Book You'll Ever Read - Solin
The Little Book of Common Sense Investing - Bogle
The Investor's Manifesto - Bernstein
A Random Walk Down Wall Street - Malkiel
The Bogleheads' Guide to Investing - Larimore et al.
The Boglehead's Guide to Retirement Planning - Larimore et al.
Common Sense on Mutual Funds - Bogle
All About Asset Allocation - Ferri
Why Smart People Make Big Money Mistakes - Belsky

Currently Reading:
Your Money and Your Brain - Zweig

Plan to Read:
Rational Investing in Irrational Times and/or Wise Investing Made Simple - Swedroe

Any other Suggestions?
The way I invest my money is not the right way to invest, it's the right way for ME to invest.
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Taylor Larimore
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The Boglehead Philosophy for Investment Success.

Post by Taylor Larimore »

Tom_T wrote:Taylor, I'm curious -- do you happen to recall the first book on investing that you ever read?
Tom:

I can't remember my first investment book. It probably had a title like: "How to get rich trading in stocks." :twisted:

My first literature probably came from Bache & Co whose broker advised the Investing Club I (foolishly) joined in 1950.

An early edition of Professor Malkiel's Random Walk Down Wall Street and Jack's, Bogle on Mutual Funds are the two books that converted me to our Boglehead Philosophy for investment success.

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
DFAMAN
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Re: Investment books I have read.

Post by DFAMAN »

Wow! A treasure trove of resources. I have read only a fraction of these - for the ones I have read, my reaction for the most part is very consistent with Mr. Larimore's reaction. The only surprise for me was the "disappointing" rating for Winning the Loser's Game by Ellis (which I read as a very new investor and thought was helpful). Thanks to Mr. Larimore for sharing his experience!
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Re: Investment books I have read.

Post by staythecourse »

As far as I am concerned books are great to understand theory, but the best Taylor gives us everyday is his life lessons. I LOVE the real life experiences he gives us when we talk about the depression or the high inflationary period of the 1970's or his times as an active vs. passive investor. It is great to get a first person viewpoint of these economic situations that I personally only know from theory.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle
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Re: Investment books I have read.

Post by parsi1 »

An honest questions, after reading all these books do you still think the best portfolio is a three fund portfolio or is it time for and update/revision of the three fund portfolio?
Thanks
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Re: Investment books I have read.

Post by Howard Donnelly »

Terrific list, Taylor! I think you are a "Gem."
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Re: Investment books I have read.

Post by abuss368 »

Taylor,

What a list. You could open a library!

Best.
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Investment books I have read.

Post by Farmboyslim83 »

Thank you Taylor,

Humble as always, rating your offerings "gems." You're at least an equal of Sir John, how about "Outstanding+?"

Happy Holidays!
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Re: Investment books I have read.

Post by hoops777 »

It is somewhat ironic that a man who has read about 300 books on investing invests in the simplest portfolio one can.I guess there is a valuable lesson to be learned there.Most people,the more they read and learn,the more they want to tinker and tilt.A little knowledge can be a dangerous thing,but here a lot of knowledge has become a very simple thing.
K.I.S.S........so easy to say so difficult to do.
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Taylor Larimore
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Re: Investment books I have read.

Post by Taylor Larimore »

hoops777 wrote:It is somewhat ironic that a man who has read about 300 books on investing invests in the simplest portfolio one can.I guess there is a valuable lesson to be learned there.Most people,the more they read and learn,the more they want to tinker and tilt.A little knowledge can be a dangerous thing, but here a lot of knowledge has become a very simple thing.
Hoops777:

It is significant that Mr. Bogle arrived at the same conclusion:
"Simplicity is the master key to financial success."
Best wishes
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: Investment books I have read.

Post by elgob.bogle »

Swimirvine asked: "Any other Suggestions?"
"The Only Guide to a Winning Bond Strategy You'll Ever Need" By l. Swedroe & J. Hempen
"The Four Pillars of Investing" by W. Bernstein

elgob
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Miriam2
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Re: Investment books I have read.

Post by Miriam2 »

Taylor -
What is the investing book you have not yet read that you are looking forward to reading?
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Re: Investment books I have read.

Post by parsi1 »

Miriam2 wrote:Taylor -
What is the investing book you have not yet read that you are looking forward to reading?
If you don't mind I like to add to this, what is the book that you already have read and don't mind reading again?
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Taylor Larimore
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Re: Investment books I have read.

Post by Taylor Larimore »

parsi1 wrote:
Miriam2 wrote:Taylor -
What is the investing book you have not yet read that you are looking forward to reading?
If you don't mind I like to add to this, what is the book that you already have read and don't mind reading again?
parsi and Miriam:

Answer: Mr. Bogle's next book.

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: Investment books I have read.

Post by abuss368 »

Taylor Larimore wrote:
parsi1 wrote:
Miriam2 wrote:Taylor -
What is the investing book you have not yet read that you are looking forward to reading?
If you don't mind I like to add to this, what is the book that you already have read and don't mind reading again?
parsi and Miriam:

Answer: Mr. Bogle's next book.

Best wishes.
Taylor
Hi Taylor,

Do you happen to know if Mr. Bogle is writing another book? I watched an interview a couple of years ago where Mr. Bogle joked he was done writing but everything he says that he begins another book!

Best.
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Investment books I have read.

Post by abuss368 »

parsi1 wrote:An honest questions, after reading all these books do you still think the best portfolio is a three fund portfolio or is it time for and update/revision of the three fund portfolio?
Thanks
Interesting question. I think the Three Fund Portfolio is tough to beat. Vanguard disagrees and recently added the Total International Bond Index Fund to the Three Fund Portfolio to now make it a Four Fund Portfolio. Perhaps Taylor will directly answer your question.
John C. Bogle: “Simplicity is the master key to financial success."
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Answer to questions about The Three Fund Portfolio.

Post by Taylor Larimore »

abuss368 wrote:
parsi1 wrote:An honest questions, after reading all these books do you still think the best portfolio is a three fund portfolio or is it time for and update/revision of the three fund portfolio?
Thanks
Interesting question. I think the Three Fund Portfolio is tough to beat. Vanguard disagrees and recently added the Total International Bond Index Fund to the Three Fund Portfolio to now make it a Four Fund Portfolio. Perhaps Taylor will directly answer your question.
parsi1: I always consider changes that will improve The Three Fund Portfolio. So far, I see no evidence that it needs "revision". In fact, The Three Fund Portfolio has proven very successful for both practical and theoretical reasons, and is recommended more and more by investment authorities.

abuss368: At its inception, I gave considerable thought to adding Total International Bond Index Fund to The Three Fund Portfolio. I decided against it for the reasons I gave on page 11 of the thread linked above.
The enemy of a good plan is the dream of a perfect plan. -- Jack Bogle
Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: Investment books I have read.

Post by selftalk »

Taylor, do you peek at your net worth in investments ? How did you feel in 2008-2009 in that big decline ? Were you tempted to do something and not stand still?
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If I could start over. .

Post by Taylor Larimore »

selftalk wrote:Taylor, do you peek at your net worth in investments ? How did you feel in 2008-2009 in that big decline ? Were you tempted to do something and not stand still?
Selftalk:

I peek at my net worth about once a year for two reasons: 1) To detect mistakes or fraud. 2) To reassure myself that I have enough to last the rest of my life.

In answer to your question about the 2008-2009 bear market, we made no portfolio changes except to rebalance (I had no taxable funds with tax-losses). The following is from a Miami Herald article published on July 21, 2002, near the bottom of a similar bear market:
"Taylor Larimore, who is retired, and his wife, Pat, who still holds a part-time job, are not putting new money into stocks. The couple live on the income generated by their portfolio as well as a pension and Social Security benefits.

Their portfolio managed a 1% gain in 2000, but it fell 1.5% last year. So far this year, it has had a larger fall. Still, Taylor Larimore is not deterred from the markets. "If your asset allocation is properly structured, these bear markets don't make much difference," he said.

About 40% of the couple's portfolio is in stocks and 60% in bonds and cash equivalents, spread out in 10 Vanguard mutual funds and an annuity. Like the financial planners, Larimore believes that younger investors should keep adding to their nest eggs. "It's a marvelous opportunity for those who are beginning their investment careers to buy at these prices," he said ruefully."
I wince when I read that we owned "10 Vanguard mutual funds." If I could start over, we would simply own The Three Fund Portfolio.

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: Investment books I have read.

Post by qwertyjazz »

There is an old joke/story of a guy takes his car to a mechanic for a problem no one in the world can fix. The mechanic takes 5 minutes looking at the car and hits the engine with a hammer. The car works perfectly. The guy is happy until he gets the bill for $1000. He complains the mechanic only hit the car with a hammer. He gets a new bill. $5 for using a hammer - $995 for knowing where to hit.
Taylor it takes a well educated intelligent person to come up with the simple 3 fund portfolio. Your advice in it is worth far more than what the mechanic charged
Thank you
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Re: Investment books I have read.

Post by PhysicianOnFIRE »

I realize Taylor's post is a couple years old, and I can only imagine it's grown some since then. I find it compelling that after reading stacks and stacks of investing books, a three-fund portfolio is advised. Thank you for saving me several years worth of reading!

Of course, I've read at least that many books in the two-plus years since this thread started. It's true that most were about a moose, a dog that got loose, and/or written by Dr. Suess, but I did read 'em!

Best,
-PoF
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Re: Investment books I have read.

Post by Peter G »

Thanks for a good resource.
Tim Hale's book Smarter Investing has a UK 'tilt' which might be why it's not on your very long list.
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Re: Investment books I have read.

Post by abuss368 »

Taylor Larimore wrote:Bogleheads:

Nearly everything I know about investing I learned from experience (the hard way) and reading books. To avoid re-reading the same books, I keep a list of books I've read with occasional comments. Quotes from many of the best books are in my Collection of Investment Gems and What Experts Say.

The Affluent Investor, DeMuth (Gem)*
The Affluent Investor, Rapport
Against the Gods, Bernstein (excellent)
Ages of the Investor, Wm. Bernstein
All About Asset Allocation, Ferri (Gem)
All About Index Funds, Ferri (Gem)
Alternative Investments, Swedroe/Keiser
American Sucker, Denby (bear market experience)
Asset Allocation, Gibson (Gem)
Asset Allocation, Arnott & Fabozzi (excellent)
At the Crest of the Tidal Wave, Prechter (Elliot Wave Theory)
Baron’s Guide to Investment Decisions, Sease
Battle for the Soul of Capitalism, Bogle (Gem)
Behavior of Markets, Mandelbrot & Hudson (anti Efficient Market)
Beyond Stocks, John Merrill (very good)
Big Investment Lie, Edesess (Gem)
Billion Dollar Funds, Fosbeck
Blackwell Guide to Wall Street, Blackwell
Bogle on Mutual Funds, Bogle
Bogleheads' Guide to Investing, Larimore, Lindauer, LeBoeuf (Gem)
Bogleheads' Guide to Retirment Planning, Larimore, Lindauer, Ferri, Dogu (Gem)
The Bond Book, Thau (a classic)
Business Week’s Guide to Mutual Funds (excellent)
Can I Retire, Piper (Gem)
Capitol Ideas, Bernstein (Sharpe, Markowitz, etc.) Very good history of markets
Character Counts, Bogle (Gem)
Charles Schwab’s Guide to Financial Independence, Schwab
Choosing an Investment, Seligman
Clash of Cultures, Bogle (Gem)
Coffeehouse Investor, Schultheis (Gem) (newbies)
Commonsense Guide to Mutual Funds, Rowland
Common Sense Investing, Rick VanNess (Gem)
Common Sense on Mutual Funds-Second Edition, Bogle (Gem) (excellent)
Complete Idiots Guide, Koch, DeSalvo, Kennon
Complete Idiot’s Guide to Retiring Early, Flewelling (very good)
Contrary Investing in the 90s, Band
Dun & Bradstreet Guide to Your Investments in 1990
Devil Take the Hindmost, Chancellor (about bubbles)
Devil's Financial Dictionary, Zweig (Gem)
Diversify, Perritt and Levine
Discover the Wealth Within You, Edelman (poor)
Donaghue Stratagies, Donaghue (made me a temporary market-timer) :(
Don’t Count On It, Bogle (Gem)
Dow Jones-Irwing Guide to Mutual Funds, Rugg & Hale
Dynamic Asset Allocation, Hammen
Dynamic Stock Market Analysis, Corney
Elements of Investing, Ellis & Malkiel (Gem)
Enough, Bogle (Gem)
Essential Dictionary of Investment & Finance
Eight Steps to Seven Figures, Carlson
Economic Time Bomb, Brown
Enough, Bogle (Gem)
ETF Book, Ferri (Gem)
Everything You’ve Heard About Investing is Wrong, Gross (bonds)
Fidelity Guide to Mutual Funds, Rowlands
Fifty Ways to Mutual Fund Profits, Levine
First Time Investor, Chambers & Rogers (fairly good)
Forecasting Financial Markets, Plumber
Four Pillars of Investing, Bernstein (Gem)
Fund your Future, Stav (very poor)
Funding Your Future, Clements
Get Rich Slowly, Spitz
Getting in on the Ground Floor, Leeb (market timing)
Great Mutual Fund Trap, Baer & Gensler (Gem)
Grow Rich Slowly, Underwood & Brown
Guide to Financial Independence, Schwab
House that Bogle Built, Braham (Gem)
How a Second Grader Beats Wall Street, Roth (Gem)
How Mutual funds Work, Fredman & Wiles
How to Buy Mutual Funds the Smart Way, Littarer
How to Make Money with Mutual Funds, Markenstein (no good)
How to Pick the Best No-Load Mutual Funds, Jacobs
Hulbert Guide to Financial Newsletters, Hulbert
The Incredible Shrinking Alpha, Swedroe/Berkin
If you Can, Wm. Bernstein (Gem) (excellent for new investor)
Index Fund Solution, Evans & Malkeil
Index Funds, Hebner (Gem)
Index Mutual Funds, Maley
Index Mutual Funds, Simon (excellent)
Index Your Way to Investment Success, Good & Hermansen (Gem)
Individual Investor’s Guide, AAII
Individual Investor Revolution, Carlson
Inflation Proofing Your Investments, Browne
Informed Investor, Armstrong (Gem)
Intelligent Asset Allocator, Bernstein
Intelligent Investor, Graham & Zweig (Gem)
Intelligent Portfolio, Jones (Gem)
Intermarket Technical Analysis, Murphy
Investing During Retirement, Vanguard
Investing For Dummies, Tyson”
Investing For a Lifetime, Merriman
Investing For a Lifetime, Browne
Investing in Uncertain Times, Nichols
Investing Made Simple, Piper (Gem)
Investing Mistakes Even Smart Investors Make, Swedroe (Gem)
Investing Strategies For the 21st Century, Armstrong (Gem)
Investment Titans, Burton
Investment Fables, Damodaran (very good)
Investment Fundamentals, Gitman & Joehnk
Investment Guru’s, Tanous (good)
Investment Mistakes Even Smart Investors Make, Swedroe (Gem)
Investment Policy, Ellis
Investments, Introduction to Analysis & Management, Amling (solid)
Investors Guide, Am. Assoc. of Individual Investor’s (Gem)
Investor’s Guide to Mutual Funds, Haslem
Investor’s Guide to Mutual Funds, Martin
Investor’s Manifesto, Bernstein (Gem)
John Bogle and The Vanguard Experiment, Slater
John Bogle on Investing, Bogle (Gem)
Jonathan Clements Money Guide 2015 (Gem)
Keys to Investing in Mutual Funds, Brouwer
Kurt Brouwer’s Guide to Mutual Funds, Brouwer
Late Bloomer Millionaires, Schullo & Robertson (Gem)
Lazy Person’s Guide to Investing, Farrell (Gem)
Lew Altfest Answers Questions About Money, Altfest
Lies Your Broker Tells Your, Slater
Little Book of Common Sense Investing, Bogle (Gem) (great for beginners)
Little Book of Main Street Money, Clements (Gem)
Little Book of Safe Money, Zweig (Gem)
Live It Up Without Outliving Your Money, Merriman
Making It in the Market, Crawford (good about various investments)
Making Money, Ruff
Making Money With Mutual Funds, Blitzman & Renburg
Making the Most of Your Money, Quinn (best financial reference book)
Man in the Arena, Rostad (tributes to Jack) (Gem)
Managing a Portfolio of Mutual Funds, Rutherford
Market Timing With No-Load Mutual Funds, Merriman (fair)
Marshall Loeb’s Lifetime Financial Strategies, Loeb
Mathematician Plays the Stock Market, Paulos (poor)
Millionaire in You, LeBoef (Gem)
Misbehavior of Markets, Mandelbrot (poor)
Modern Mutual Fund Families, Anderson & Ross (timing & alpha)
Money Dynamics for the 90’s, Van Casper
The Money Game, Smith
Money Mantras, Singletary,
Money Talks: Quotes on Money & Investing, Maggio
Money Misery Madness, Weber
Money Matters, Strassel
Morningstar Guide to Mutual Funds, Benz, DiTeresa, & Kennel (Gem)
Mugged on Wall Street, Chase
Multi-Fund Investing, Hirsh
Mutual Fund Buyer’s Guide, Fosback
Mutual Fund For Dummies, Tyson (Gem)
Mutual Fund Portfolio Planner, Dorf
Mutual Fund Superstars, Donoghue
Mutual Fund Switch Strategies, Hirsh
Mutual Fund Wealthbuilder, Hirsh
Mutual Funds For Dummies, Tyson
Mutual Fund Switch Strategies, Boroson
Mutual Funds: How to Invest with the Pros, Brouwer
Mutual Funds—Taking the Worry Out of Investing, Ross
New Contrarian Investment Strategy, Dreman
The New Finance, The Case against Efficient Markets, Haugen
New Game on Wall Street, Sobel
New Money Masters, Trane
New Mutual Fund Investment Advisor, Dorf
New Strategies for Mutual Fund Investing, Rugg
New York Times Mutual Fund Guide, Gould
No Load Mutual fund Guide, Donoghue
No Nonsense Finance, Moody
No Loads, Kearis
One Hundred Best Mutual Funds, Williamson
Only Guide to Alternative Investments, Swedroe (Gem)
Only Guide For The Right Financial Plan, Swedroe (Gem)
Only Guide to a Winning Bond Strategy, Swedroe (Gem)
Only Guide to a Winning Investment Strategy, Swedroe
Only Guide You'll Ever Need for the Right Financial Plan, Swedroe, Grogan & Lim (Gem)
Only Investment Guide You Will Ever Need, Tobias (Gem)
Only Other Investment Guide You Will Ever Need, Tobias (Gem)
Only Proven Road to Investment Success, Sengupta (Gem)
Only Retirement Guide You Will Ever Need, Petras
Outperforming the Market, Merrill
Permanent Portfolio, Browne & Rowland & Lawson (Gem)
Personal Finance for Dummies, Tyson (excellent)
Planning for Retirement, Hallman (Comprehensive about IRAs)
Planning Your Retirement, Porter
Portfolio Selections, Markowitz
Power of Passive Investing, Ferri (Gem)
Practicing Financial Planning, Mittra
Probability of Fortune, Milevsky (Gem)
Protecting Your Wealth, Ferri (excellent)
Protecting Your Wealth in Good Times and Bad, Ferri (Gem)
Prudent Investor’s Guide to Beating the Market, Bowen & Reinhardt
Prudent Investor’s Guide to Beating Wall Street, Bowen & Goldie
Prudent Speculator, Frank
Quest For Alpha, Swedroe, (Gem)
Random Walk and Beyond, Johnson (good)
Random Walk Down Wall Street, Malkiel (classic)
Random Walk Guide to Investing, Malkiel (Gem) (very good)
Rational Investing in Irrational Times, Swedroe (Gem)
Retire Secure! For Same-Sex Couples, Lange
Retire in Style, Soltesz
Retire Rich, Morse
Retirement Challenge, Frank Armstrong (Gem)
Road to Stock Market Success, Halpern
Roadmap For Investing Success, Keck (free online) (Gem)
Safe Investing, Slatter
Save Your Retirement, Armstrong & Brown(Gem)
Serious Money, Ferri (free online) (Gem)
Smart and Simple Financial Strategies, Quinn (Gem)
Smart Money for the 90s, Money Mag Editors
Smartest 401(k) Book You’ll Ever Read, Solin (Gem)
Smartest Money Book You’ll Ever Read, Solin (Gem)
Smartest Portfolio You’ll Ever Own, Solin (Gem)
Stock Market Logic, Fosback (classic)
Stock Trader's Almanac, Hirsch
Stocks for the Long Run, Seigel (excellent)
Story of Investment Companies, Bullock (mentions my grandfather)
Straight Talk About Mutual Funds, Vujovich
Straight Talk on Investing, Brennan (Gem)
Strategic Investment Timing, Stoken
Successful Investing, Babson
Successful Investing In No-Load Mutual Funds, Pope (good for lst timer)
Successful Investor Today, Swedroe (Gem)
Successful No-Load Fund Investing, Jacobs (excellent)
Surviving the coming Mutual Fund Crises, Christenson (good)
Tactical Asset Allocation, Dubios
Take on the Street, Levitt (Gem)
Teenage Investor, Olsen
Think, Act, Invest Like Warren Buffett, Swedroe (Gem)
Thirty-Minute Money Solutions, Benz (Gem)
Timing the Market, Weiss
Triumph of the Optimists, Dimson (excellent data)
Twenty-five Investment Classics, Gough
Twenty-Five Myths You’ve Got to Avoid, Clements
Ultimate Mutual Funds Guide, Boroson (17 Experts)
The Unbeatable Market, Ross (Gem)
Unconventional Success, Swensen (Gem)
Unveiling the Retirement Myth, Otar (too mathematical)
Vanguard Retirement Investment Guide, Vanguard
Wall Street Gurus, Brimelow
Wealth of Experience, Brennan & Clark (Gem)
Wealth without Risk, Givens (BS)
We’re Not in Kansas Anymore, Updegrave (Gem)
What Wall Street Doesn’t Want You To Know, Swedroe
What Works on Wall Street, Zweig (excellent)
Where are the Customer’s Yachts, Schwed (Gem)
White Coat Investor (Gem) (best book for physicians)
Why Bother With Bonds? Rick Van Ness (Gems)
Why Smart People Make Big Money Mistakes, Belsky (behavioral economics)
Winning in Mutual Funds, Schabacker
Winning on Wall Street-1986, Zweig
Winning the Losers Game, Ellis
Winning With Bonds, Rick Van Ness
Winning With Index Mutual Funds, Tweddel & Pierce (Gem)
Winning with Mutual Funds, Editors of Money Magazine
Winning with the Market, Sease
Winning with New IRA’s, Zweig (very good)
Winning Portfolio, Farrell
Wise Investing Made Simple, Swedroe (Gem)
Wise Investing Made Simpler, Swedroe (Gem)
Yes, You Can Achieve Financial Independence, Stowers
Yes, You Can Time the Market, Stein/DeMuth (poor)
Yes, You Can Supercharge Your Portfolio, Stein & DeMuth (Gem)
Your Money and Your Brain, Zweig (Gem)
Your Money or Your Life, Cavuto (little about investing)
Your Money or Your Life, Dominguez (Poor)
You’re 50. Now What? Schwab (excellent)
You’ve Lost It. Now What? Clements (Gem)
You’re Retired, Now What? Yolles (fair)

*Gems

Best wishes.
Taylor
Hi Taylor,

That is a comprehensive (and huge) list. Did at any point, that volume of investing books become overwhelming?
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Investment books I have read.

Post by Taylor Larimore »

Abuss:

Never "overwhelming" Over 62 years of investing it is not many each year. I enjoyed reading most books and got something from each of them --including this quote from forum author and contributor, Paul Keck:

"After doing it all, I now feel I've come around in a complete circle, ending up with this: 'The more I learn, the less I really need to know.'"

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: Investment books I have read.

Post by abuss368 »

Taylor Larimore wrote:Abuss:

Never "overwhelming" Over 62 years of investing it is not many each year. I enjoyed reading most books and got something from each of them --including this quote from forum author and contributor, Paul Keck:

"After doing it all, I now feel I've come around in a complete circle, ending up with this: 'The more I learn, the less I really need to know.'"

Best wishes.
Taylor
Thank you Taylor!

That is a very good quote and is so true.
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Investment books I have read.

Post by Artisan »

My reading list just got longer.

Thank you Taylor.
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Re: Investment books I have read.

Post by abuss368 »

Artisan wrote:My reading list just got longer.

Thank you Taylor.
I have always found Taylor's Gems and excerpts from books very informative and valuable.
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Re: Investment books I have read.

Post by selftalk »

It seems to me after much pondering that all this intellectualizing on the markets and tons of time spent on it, the most precious commodity, is for naught in achieving the very best returns via speculating and / or investing in the financial markets of the world. Owning a well diversified low cost index fund like the Total Stock Market will get you where you want to go if you just relax and ignore the markets movements. For all the years of effort spent on trying to achieve great returns which I didn`t, I could have become a brain surgeon or maybe a nuclear physicist.
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Re: Investment books I have read.

Post by Tycoon »

selftalk wrote:It seems to me after much pondering that all this intellectualizing on the markets and tons of time spent on it, the most precious commodity, is for naught in achieving the very best returns via speculating and / or investing in the financial markets of the world. Owning a well diversified low cost index fund like the Total Stock Market will get you where you want to go if you just relax and ignore the markets movements. For all the years of effort spent on trying to achieve great returns which I didn`t, I could have become a brain surgeon or maybe a nuclear physicist.
This is wonderful insight. It's spot on. Tons of wasted intellectual energy chasing the impossible.
Emotionless, prognostication free investing. Ignoring the noise and economists since 1979. Getting rich off of "smart people's" behavioral mistakes.
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Re: Investment books I have read.

Post by abuss368 »

We cleaned out some books this weekend and donated them to our local library. I really only need our Jack Bogle and Vanguard books.
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Investment books I have read.

Post by Jeff Diritto »

Taylor Larimore wrote:Abuss:

Never "overwhelming" Over 62 years of investing it is not many each year. I enjoyed reading most books and got something from each of them --including this quote from forum author and contributor, Paul Keck:

"After doing it all, I now feel I've come around in a complete circle, ending up with this: 'The more I learn, the less I really need to know.'"

Best wishes.
Taylor
Thank you sharing all of your insights and wisdom; it seems your life has given truth to the saying that an investment in knowledge pays the best interest!
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Re: Investment books I have read.

Post by stemikger »

Ever Ready wrote:Taylor,

You've journeyed through acres of investment "gems" to find the 3 fund portfolio "Majesty of Simplicity" in your own backyard.

Thanks for sharing your wisdom. I hope it saves others much time and trouble.

Thanks,

Ed (Ever Ready)
+1

I love this!!!
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!
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Re: Investment books I have read.

Post by abuss368 »

Will there be any additional Bogleheads books? I liked Taylor's book!
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Re: Investment books I have read.

Post by Theoretical »

I'm really enjoying listening to the updated The Intelligent Investor.
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