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Saturday, January 10, 2009

Four for Your Bookshelf

Recently I have been spending some time re-reading some books on investing that I believe are especially insightful and valuable resources to us as investors. This article is titled "Four for Your Bookshelf" because these books are worthwhile to keep in a permanent and prominent place on your bookshelf. That is, keep them in a handy location so they can be periodically referenced and re-read because of the timeless wisdom they impart. So without further ado, they are:

1. The Only Investment Guide You'll Ever Need by Andrew Tobias
I prefer this easy-to-read, common-sense guide to personal finance above some of the more comprehensive and voluminous alternatives. It is especially valuable for novice investors (for example, my daughter who has recently begun her first job after graduating from college liked it because of its easy-to-understand and witty writing style). But even more experienced investors will also benefit greatly from his excellent advice on saving, investing, taxes, and insurance.

2. One Up on Wall Street by Peter Lynch
From the legendary manager of the multi-billion dollar Magellan Fund, this is the single best book on stock picking I have ever read. The heart of the book is chapters 12 and 13 where his analytical methods for stock-picking are presented. An excellent foundation for these two chapters is obtained by reading chapter 7 where he describes his six categories of companies. In addition, I have found that practicing the advice from Chapter 7: "The Two-Minute Drill" has been an invaluable addition to my investing approach.

3. Investing the Templeton Way: The Market-Beating Strategies of Value Investing's Legendary Bargain Hunter
Considered by many to be the greatest investor ever, John Templeton's dedication to ethical and spiritual principles also qualifies him as a great human being. This book provides valuable insights into the man and his timeless global value-investing principles and techniques.

4. New Insights on Covered Call Writing by Lehman and McMillan
Since this blog is dedicated primarily to covered calls investing, I am including this book since it is the single best book written to-date that is dedicated primarily to the topic of covered calls.

Enjoy your reading!


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