Today I wanted to share with you my 3 favorite Investing Audiobooks on Audible (I think its like 40 hours of listening time in total took me a couple of weeks). I listened to all of them myself and all 3 of them are highly recommended.
I know my blog is mostly about the benefits of social trading but I still believe you need some basic knowledge of investing to become really successful.
First of all I am a believer of reading. I read about 50 books a year on various topics and investing is obviously one of my favorite topics. Long story short here are my 3 best investing audiobooks recommendations for August 2017:
#1 The New Market Wizards: Conversations with America’s Top Traders by Jack D. Schwager
If you ever wondered whats going on in a top trader’s mind then this is a must read ( or listen to). In this book Jack D Schwager interviews some of the best traders ever. You learn a lot about their investment styles, what got them into investing and so on.
The book is also extremely versatile and gives you the insights from all kinds of different investors. Some do extremely risky forex transactions ( risky if you don’t know what you’re doing) and some are more traditional value & growth investors.
I am sure most of these people are traders you never heard off but they’re among the biggest in their field and are hitting returns that are unheard of.
“A sampling of the traders you will meet in The New Market Wizards:
Stan Druckenmiller, who, as manager of the Soros Quantum Fund, realized an average annual return of more than 38 percent on assets ranging between $2 and $3.5 billion.
William Eckhardt, a mathematician who, in collaboration with trader Richard Dennis, selected and trained the now legendary circle of traders known as the Turtles.
Bill Lipschutz, a former architect who, for eight years, was Salomon Brothers’ largest and most successful currency trader.
Blair Hull, a onetime blackjack player who founded a highly successful options trading company.”
On a sidenote : I prefer investing audiobooks over traditional books at the moment simply for the reason that it saves time. You can listen to them during a walk or drive.
#2 What’s Behind the Numbers?: A Guide to Exposing Financial Chicanery and Avoiding Huge Losses in Your Portfolio by John Del Vecchio & Tom Jacobs
This is more a book for people that are actually looking at financial statements ( I strongly advice you do as well). In their excellent book John Del Veccio and Tom Jacobs explain some of the common tricks companies use to make their annual or quarterly statements look better than they actually are. Knowing this will help you avoid buying stocks of companies. One hint : Look at the footnotes. Those are the areas where companies like to sneak some of the common tricks.
In the later parts of the books they explain more about successful portfolio management and all in all it’s a great read!
#3 One Up On Wall Street by Peter Lynch
To me Peter Lynch is one of the top investors ever lived. In this short but very insightful book he is sharing some of his insights about becoming a growth investor. Growth investing is one of the most popular investing styles and it made many people a fortune. Think of a growth stock like netflix which nobody saw coming for the longest time and then it just exploded because of the rapid growth ( growth investor’s saw it already by studying the revenue statements)
Those 3 are my current favorites I will be sharing a few more of my favorite reads in the coming weeks. There are a ton of great books out there and I strongly advice you to go through as many of them as you can. I believe that by reading these 3 books you will get a basic understanding of whats going on in the markets and will be a lot more qualified to make money in the markets. Why not learn from the best before putting your money at risk ?
I hope you enjoyed my list and happy reading!