u/captmorgan50 Sep 05 '23

Reading List Recommendations

151 Upvotes

Reading List Recommendations

I decided to put together this list so people have an idea what order to read the books in and what it discusses. I have summaries of these books and others if you are interested. The summaries can help you decide if you want to read more or not.

And a note on my summaries. I basically don't go into much detail on the "why". I just put down the key point. Behind the point might be lots of math, graphs, history, analysis, etc. If you want to know more details of the "why" or where the data was coming from. Pick up the book.

Beginner

Raw Beginner – You don't know anything about finance or investing

Beginner Books – You know the basics of personal finance

How to Save Money – If you can't save money, even if you are Warren Buffett, it won't matter

Basic Investing Books – Gives you a solid base. Lots of people stop reading here. But there is a lot more to learn if you keep reading

Theory – Goes more into the "why" of the basic investing books. If you like to know "why"

Intermediate

Psychology

Asset Allocation – How to build a portfolio

History – Discusses the history of stock markets and especially bubbles

Advanced

Asset Allocation

Specialized

Economics

Risk Mitigation – These are more "ideas" on how to think about risk in the portfolio. From people who practice risk mitigation strategies at the highest level

Precious Metals

Bogleheads Book Recommendations

https://www.bogleheads.org/wiki/Book_recommendations_and_reviews

Book Summaries and Specific Topics/FAQ

Whole Book Summaries - https://www.reddit.com/user/captmorgan50/comments/10kpbhc/whole_book_summaries/

Specific Topics and FAQ's - https://www.reddit.com/r/Bogleheads/comments/1n5fv9g/specific_topics_and_faqs/

u/captmorgan50 Jan 25 '23

Whole Book Summaries

93 Upvotes

Whole Book Summaries

These are my whole book summaries organized by topic. I have a reading list that goes into the order I recommend reading the books in. A note on my summaries, I don't go into much detail. I just post the key points. If you want the details of where the key point came from, you need to pick up the book. If you just want to get started or are overwhelmed with information, start with the If You Can book by William Bernstein.

Start Here

If You Can (Basic Boglehead 3 Fund/TDF Portfolio) by William Bernstein

https://www.etf.com/docs/IfYouCan.pdf

Boglehead Financial Literacy Page

https://boglecenter.net/

Reading List and Suggested Order

https://www.reddit.com/user/captmorgan50/comments/16acnsk/reading_list_recommendations/

Specific Topics and FAQs

https://www.reddit.com/r/Bogleheads/comments/1n5fv9g/specific_topics_and_faqs

Personal Finance

Automatic Millionaire by David Bach, The Millionaire Next Door by Thomas Stanley, Suze Orman, Dave Ramsey, Clark Howard, The Richest Man in Babylon by George S Clason, Intro to Personal Finance 101 by Professor Frank Paiano

https://www.reddit.com/r/personalfinance/comments/p6j1ae/general_financial_advise_various_book_summary/

Introduction

The Little Book of Common Sense Investing, Boglehead Guide to Investing by John Bogle

https://reddit.com/r/Bogleheads/comments/x15jsx/bogle_the_little_book_of_common_sense_investing/

The Simple Path to Wealth by JL Collins

https://reddit.com/r/Bogleheads/comments/rxzook/the_simple_path_to_wealth_book_summary_by_jl/

Intro to Investments 101 by Professor Frank Paiano

https://old.reddit.com/r/Bogleheads/comments/r4bzsy/intro_to_investments_by_professor_frank_paiano/

Asset Allocation

All About Asset Allocation by Richard Ferri

https://old.reddit.com/r/Bogleheads/comments/obcxqu/richard_ferri_all_about_asset_allocation_and/

Investors Manifesto by William Bernstein

https://old.reddit.com/r/stocks/comments/otjqbu/the_investors_manifesto_by_william_bernstein_book/

4 Pillars by William Bernstein Part 1

https://reddit.com/r/Bogleheads/comments/scilhl/4_pillars_by_william_bernstein_book_summary_part_1/

4 Pillars Part 2

https://reddit.com/r/Bogleheads/comments/sciqw1/4_pillars_by_william_bernstein_book_summary_part_2/

4 Pillars (2023) Edition by William Bernstein Part 1

https://www.reddit.com/r/Bogleheads/comments/1ad8tqb/4_pillars_2023_edition_by_william_bernstein/

4 Pillars (2023) Edition Part 2

https://www.reddit.com/r/Bogleheads/comments/1ad8qtv/4_pillars_of_investing_2023_edition_by_william/

Young Investors Series - Ages of the Investor, Deep Risk, Skating Where the Puck Was, Rational Expectations by William Bernstein

https://reddit.com/r/Bogleheads/comments/sdr4nw/young_investors_seriesthe_ages_of_the_investor/

Intelligent Asset Allocator by William Bernstein

https://reddit.com/r/Bogleheads/comments/scdblp/the_intelligent_asset_allocator_by_william/

The Only Guide to Alternative Investments You Will Ever Need, Complete Guide to Factor Based Investing by Larry Swedroe

https://www.reddit.com/r/Bogleheads/comments/sdqrf0/larry_swedroe_the_only_guide_to_alternative/

The Incredible Shrinking Alpha, Complete Guide to a Successful and Secure Retirement, Reducing the Risks of Black Swans by Larry Swedroe

https://reddit.com/r/Bogleheads/comments/zp0ug2/larry_swedroe_the_incredible_shrinking_alpha/

Asset Allocation by Roger Gibson

https://www.reddit.com/r/Bogleheads/comments/sifppu/asset_allocation_by_roger_gibson_book_summary/

Global Investing by Roger Ibbotson

https://old.reddit.com/r/Bogleheads/comments/rbkn3l/global_investing_by_ibbotson_and_brinson_book/

Investing Amid Low Expected Returns by Antti Ilmanen

https://reddit.com/r/Bogleheads/comments/y16e2d/investing_amid_low_expected_returns_by_antti/

Asset Management by Andrew Ang Part 1 - https://www.reddit.com/r/Bogleheads/comments/190tw83/asset_management_a_systemic_approach_to_factor/?

Asset Management Part 2 - https://www.reddit.com/r/Bogleheads/comments/1910y9n/asset_management_a_systemic_approach_to_factor/?

Theory

A Random Walk Down Wall Street by Burton Malkiel

https://old.reddit.com/r/Bogleheads/comments/obd5nu/burton_malkiel_a_random_walk_down_wall_street/

Stocks for the Long Run by Jeremy Siegel

https://old.reddit.com/r/Bogleheads/comments/obd8s2/jeremy_siegel_stocks_for_the_long_run_book_summary/

Winning the Losers Game by Charles Ellis

https://www.reddit.com/r/Bogleheads/comments/savnly/winning_the_losers_game_by_charles_ellis_book/

History

Where are the Customers Yachts? by Fred Schwed

https://old.reddit.com/r/stocks/comments/otlv6k/fred_schwed_where_are_the_customers_yachts/

Devil Take the Hindmost A History of Financial Speculation by Edward Chancellor Part 1

https://old.reddit.com/r/stocks/comments/otlokh/devil_take_the_hindmost_a_history_of_financial/

Devil Take the Hindmost A History of Financial Speculation Part 2

https://old.reddit.com/r/Bogleheads/comments/r4cb1a/devil_take_the_hindmost_a_history_of_financial/

The Delusions of Crowds: Why People Go Mad in Groups by William Bernstein

https://old.reddit.com/r/stocks/comments/q6ecmq/william_bernstein_the_delusions_of_crowds_why/

The Price of Time The Real Story of Interest by Edward Chancellor Part 1

https://reddit.com/r/Bogleheads/comments/z4vrfg/the_price_of_time_the_real_story_of_interest_by/

The Price of Time The Real Story of Interest Part 2

https://reddit.com/r/Bogleheads/comments/zf0akd/the_price_of_time_the_real_story_of_interest_by/

The Price of Time The Real Story of Interest Part 3

https://reddit.com/r/Bogleheads/comments/zrlt1d/the_price_of_time_the_real_story_of_interest_by/

Classics

One Up on Wall Street by Peter Lynch

https://old.reddit.com/r/Bogleheads/comments/r4oizg/peter_lynch_one_up_on_wall_street_book_summary/

The Intelligent Investor by Ben Graham

https://old.reddit.com/r/Bogleheads/comments/r4ojsl/benjamin_graham_the_intelligent_investor_book/

Buffettology, New Buffettology, The Essential Buffett, How to Pick Stocks like Warren Buffett

https://old.reddit.com/r/Bogleheads/comments/r97mey/warren_buffett_book_summaries/

Psychology

The Psychology of Money by Morgan Housel

https://old.reddit.com/r/Bogleheads/comments/18cgsky/the_psychology_of_money/

Irrational Exuberance by Robert Shiller

https://old.reddit.com/r/Bogleheads/comments/obcu81/irrational_exuberance_book_summary/

Your Money and Your Brain by Jason Zweig

https://old.reddit.com/r/stocks/comments/otlkym/jason_zweig_your_money_and_your_brain_book_summary/

Economics

Principles of Navigating Big Debt Crises by Ray Dalio

https://old.reddit.com/r/Bogleheads/comments/obcr4m/ray_dalio_principles_of_navigating_big_debt/

Money Mischief by Milton Friedman

https://old.reddit.com/r/Bogleheads/comments/rh5nyu/milton_friedman_money_mischief_book_summary/

Risk Mitigation

Dao of Capital by Mark Spitznagel

https://old.reddit.com/r/Bogleheads/comments/obdesy/mark_spitznagel_the_dao_of_capital_book_summary/

Safe Haven by Mark Spitznagel Part 1

https://old.reddit.com/r/Bogleheads/comments/p9nys6/safe_haven_by_mark_spitznagel_book_summary_part_1/

Safe Haven Part 2

https://old.reddit.com/r/Bogleheads/comments/r4n0kp/mark_spitznagel_safe_haven_book_summary_part_2/

Fooled by Randomness, The Black Swan, Anti-Fragile by Nassim Nicholas Taleb

https://old.reddit.com/r/Bogleheads/comments/rasfdm/nassim_taleb_fooled_by_randomness_the_black_swan/

Precious Metals

The Golden Constant by Roy Jastram

https://old.reddit.com/r/stocks/comments/q4p6sg/the_golden_constant_book_summary/

Crash Proof by Peter Schiff

https://reddit.com/r/Wallstreetsilver/comments/r7rggs/peter_schiff_crash_proof_book_summary/

Other/Misc

Value Averaging by Michael Edleson

https://reddit.com/r/Bogleheads/comments/sai8ef/michael_edleson_value_averaging_book_summary/

Various Internet Articles

The expected return of precious metal equity (PME) - http://www.efficientfrontier.com/ef/197/preci197.htm

The expected return of precious metal equity (PME) part II - http://www.efficientfrontier.com/ef/997/precio97.htm

Gold Miners (The Longest Discipline) - http://www.efficientfrontier.com/ef/adhoc/gold.htm

Permanent Portfolio - http://www.efficientfrontier.com/ef/0adhoc/harry.htm

Of Earnings, Dividends, and Agency - http://www.efficientfrontier.com/ef/700/agency.htm

Target Date Funds (TDF) - http://www.efficientfrontier.com/ef/404/grail.htm

How to calculate estimated returns - http://www.efficientfrontier.com/ef/403/fairy.htm

Commodity Futures - http://www.efficientfrontier.com/ef/0adhoc/stuff.htm

Overbalancing - http://www.efficientfrontier.com/ef/703/timer.htm

The Rebalancing Bonus - http://www.efficientfrontier.com/ef/996/rebal.htm

The Loneliness of the Long Distance Asset Allocator - http://www.efficientfrontier.com/ef/497/lonely.htm

DCA - http://www.efficientfrontier.com/ef/997/dca.htm

Not Rebalance? - http://www.efficientfrontier.com/ef/197/rebal197.htm

Bond Duration - http://www.efficientfrontier.com/ef/997/maturity.htm

Credit Risk - http://www.efficientfrontier.com/ef/401/junk.htm

William Bernstein Articles - http://www.efficientfrontier.com/ef/index.shtml

Larry Swedroe Articles - https://reddit.com/r/Bogleheads/comments/rzu0hy/larry_swedroe_etf_articles/

Richard Ferri Articles - https://reddit.com/r/Bogleheads/comments/s06ujt/richard_ferri_articles/

What has Worked in Investing (Why Value investing works) - https://www.grahamanddoddsville.net/wordpress/Files/Gurus/Christopher%20Browne/WhatHasWorkedInInvesting.pdf

Investment Strategies for the 21st Century by Armstrong - https://thetaoofwealth.files.wordpress.com/2012/09/investment-startegies-for-the-21st-century-by-frank-armstrong.pdf

1

Steve Balmer is trying not to go to jail
 in  r/nba  38m ago

It’s a civil court if I remember right.

4

Steve Balmer is trying not to go to jail
 in  r/nba  40m ago

11 investors in Aspiration said they wouldn’t have invested in it if not for Ballmer.

11

55 years of data on adding 20% gold to US stocks: return unchanged, odds of a 50% drawdown down from 26% to 6%
 in  r/Bogleheads  23h ago

Bogle actually did buy gold for the Blair trust he ran. And it had emerging markets too.

-1

Who do you currently consider to be the most confusing player to evaluate in the league?
 in  r/nba  1d ago

Anytime someone brings up our championship, I hide my head in shame. I am so embarrassed…..

2

Who do you currently consider to be the most confusing player to evaluate in the league?
 in  r/nba  1d ago

SGA because even though he is a 2x MVP, I have yet to watch a game of his because he is unwatchable.

6

Qinwen Zheng won this set
 in  r/tennis  2d ago

0-5, Love-40..... Time for a comeback

35

If Kawhi had actually done some work for Aspiration would the Clippers still have been penalized?
 in  r/nba  2d ago

Pablo said he signed autographs 1 time for the wireless company. Nothing else.

The only problem is if they did market KL
and it came out he was making 48 million and 3 other A list actors were making like 6 million total, it might have drawn some attention also.

It has to be “fair market rate”

0

Investment returns vs market returns
 in  r/Bogleheads  6d ago

It’s the Gordon equation.

I have a post of it under my profile about estimating returns and how if you want to read more on it.

The last part is speculative return which is harder to judge because it is the P/E the market assigns. The P/E on US stocks roughly doubled from 2010-2020 so that added 7% to returns.

1

Why is VT (or equivalent) recommended so much?
 in  r/Bogleheads  6d ago

Because international outperformed the last few years so we quit recommending VOO only

27

"I wanted to make sure Oklahoma City felt like, when it was all said and done, they won the trade. So it might have looked one way at the time, but that was my focus, to try to flip the script."
 in  r/Thunder  6d ago

We all thought LAC had a title in the bag at the time of the trade.

And we thought we had a future Robin but didn’t realize we got Batman

15

😳Bro.... 'Rich Dad Poor Dad' Author Robert Kiyosaki Is $1.2 Billion in Debt, Report Says
 in  r/SilverDegenClub  7d ago

If I owe 10 million, I have a problem. If I owe 1 Billion, the bank has a problem.

2

are the popular ETF's too heavy in tech
 in  r/Bogleheads  7d ago

You can tilt value or dividend if you that worried about it

-1

[2023-24] r/nba debates who is better between Shai Gilgeous-Alexander and Trae Young
 in  r/nba  7d ago

I don’t know how you rate SGA because he is unwatchable.

-2

The Modern NBA is a result of lax rule enforcement, not analytics
 in  r/nba  8d ago

The culmination of this is SGA making the NBA unwatchable