100 books like A Random Walk Down Wall Street

As everyone knows at this point, anything Michael Lewis writes will be enormous fun to read, while being about something really important—something he’ll make you care about even if you didn’t when you started the book.

In this case, the subject is people who bet on the direction of mortgages (and thus, house prices), and how those who bet on a huge plunge were right. This book has an amazing cast of characters, all richly drawn: some are smart, some are not so smart; some are excellent schmoozers, some can barely tolerate human interaction; some care a lot about money, some care more about being right, especially if everyone else is wrong.

Each book I've recommended cries out to be made into a movie. This one actually was.

Another book on money. I couldn’t have survived the leaner times as an actor without the lessons in this book about how important saving money is. It seems logical, but most people don’t do it or don’t do it correctly.

This book helped me to further increase my financial acumen. What happens to a successful actor who knows little about money? He loses his house and his car and loses out on great opportunities. I vowed never to be that type of actor. I vowed to be the entrepreneur that I know I am.

There’s a reason this book is the bestselling success book of all time. When I first read it, this sentence changed my perspective about my wealth ability: “Success comes to those who become success conscious” (p.11). So, if there’s a secret to accumulating wealth, that’s it. According to Hill, if you think it’s impossible to be wealthy, it is, but if you think it’s possible, it is. 

The bottom line is if you’re struggling financially, look no further. This book holds the information that will mold you into a wealthy person. You will learn how to use your innate powers to attract the amount of money you desire. I was broke when I bought this book with little knowledge about the power of my thoughts. After reading it, I was no longer clueless, and I was no longer broke.

To build wealth, we need an environment that allows for unequal outcomes. The Friedmans argue that using societal or governmental force in the name of equality will destroy the environment where we are free to choose how wealth is grown. In their words: Freedom “preserves the opportunity for today's disadvantaged to become tomorrow's privileged and, in the process, enables almost everyone, from top to bottom, to enjoy a fuller and richer life.” Let the market determine the outcome. Bad ideas will wither away, and good ideas will thrive.

Life expectancy among the working-class population in the United States was decreasing at an astounding rate well before the Covid-19 pandemic. While I was aware of growing inequality and decreasing access to health care for many, I didn’t realize how desperate the conditions of life seemed for many working-class Americans.

This book forced me to confront the uncomfortable reality of the health crisis among the many blue-collar workers living in the heartland of America.  

Who knew that a book on tax reform could be so interesting? Showdown at Gucci Gulch, which tells the story of the 1986 federal tax reform, remains the best in depth look at how a bill really becomes a law, including a cast of interesting characters, from Ronald Reagan to Dan Rostenkowski. The book is also a good primer on what a good tax system ought to look like and how myriad special interests invariably oppose such a system. Murray and Birnbaum were reporters for the Wall Street Journal who covered the 1986 tax reform and write with a reporter’s eye for detail. Really, this is an entertaining book.

Best recent book examining human morality from a scientific, psychological point of view.

Darwinians used to think humans had to be selfish and immoral. Contemporary evolution argues the opposite, that humans evolved moral limits on our selfishness in order to live together. Haidt’s is the best book presenting this new evolutionary psychology.

But it goes further to connect those scientific issues with contemporary politics, explaining why people from “red” and “blue” states cannot understand each other: they each embody a short list of human moral values, but different ones. This is a great book for thinking carefully about human morality and contemporary politics. Students love it, and so do I. 

While most Americans make charitable gifts every year, people don’t give at uniform rates—there are vast differences by faith, family structure, political views, geography, and business involvement. For instance, people who worship every week give away three times as much money as those who rarely or never worship, and religious people are twice as likely to volunteer (for secular as well as faith-based causes).

Brooks shows that generosity isn’t just healthy for the nation; it makes the givers happier as well. He cites a host of social science studies demonstrating that charitable Americans are much more likely to be satisfied with life than non-givers who are demographically identical.

I loved how this “Little Book" gets right to the point and explains why every investor should include low-cost index ETFs in their portfolios. This is a great guide for beginners and old hands alike. It is a book devoted to simplicity.

I loved Bogle’s “Cost Matters Hypothesis” which is simpler and more relevant than the also important “Efficient Markets Hypothesis” that is taught in Finance 101 classes. 

I felt this book empowered me to take control of my financial life. It’s a book I always recommend to people who are looking to improve their financial lives. I learned a lot from Vanguard founder John Bogle's 80+ years of experience and wisdom. Invest just 60 minutes in this book and reap a lifetime of informed, confident investing decisions.

This book inspired Warren Buffett’s investing strategy and my personal investing strategy. It is not only about the stock market; it provides an investing philosophy I have applied in my life, business, finances, and career.

Its timeless wisdom and practical advice set it apart. Despite being published many years ago (1949), the lessons and insights presented are still relevant and applicable today. Every investor must be familiar with Graham’s value investing strategy. It’s the foundation of all long-term investing.