100 books like Money Masters of Our Time

By John Train,

Here are 100 books that Money Masters of Our Time fans have personally recommended if you like Money Masters of Our Time. Shepherd is a community of 10,000+ authors and super readers sharing their favorite books with the world.

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Book cover of Where Are the Customers' Yachts? Or a Good Hard Look at Wall Street

Victor Haghani Author Of The Missing Billionaires: A Guide to Better Financial Decisions

From my list on intelligent financial decision-making in less than 200 pages.

Why am I passionate about this?

I have over four decades of experience working and innovating in the financial markets and have been a prolific contributor to academic and practitioner finance literature. I started my career at Salomon Brothers in 1984, where I became a managing director in the bond-arbitrage group, and in 1993 I was a co-founding partner of the hedge fund Long-Term Capital Management. I founded Elm Wealth in 2011 to help clients, including my own family, manage and preserve their wealth with a thoughtful, research-based, and cost-effective approach that covers not just investment management but also broader decisions about wealth and finances.

Victor's book list on intelligent financial decision-making in less than 200 pages

Victor Haghani Why did Victor love this book?

I loved this timeless classic. This book gets down to the essence of how to safely navigate Wall Street, where everyone wants a slice of your financial pie. It’s a quick and hilarious read that challenges the conventional investment wisdom that Wall Street tries to get you to believe.

You’ll become a more savvy and skeptical investor and avoid costly mistakes in your financial life. I gave a copy of this book to all my three children, and they loved it too!

By Fred Schwed,

Why should I read it?

4 authors picked Where Are the Customers' Yachts? Or a Good Hard Look at Wall Street as one of their favorite books, and they share why you should read it.

What is this book about?

'Once I picked it up I did not put it down until I finished...What Schwed has done is capture fully-in deceptively clean language - the lunacy at the heart of the investment business' - From the Foreword by Michael Lewis, Bestselling author of "Liar's Poker". '...one of the funniest books ever written about Wall Street' - Jane Bryant Quinn, "The Washington Post". 'How great to have a reissue of a hilarious classic that proves the more things change the more they stay the same. Only the names have been changed to protect the innocent' - Michael Bloomberg. 'It's amazing how…


Book cover of The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns

Victor Haghani Author Of The Missing Billionaires: A Guide to Better Financial Decisions

From my list on intelligent financial decision-making in less than 200 pages.

Why am I passionate about this?

I have over four decades of experience working and innovating in the financial markets and have been a prolific contributor to academic and practitioner finance literature. I started my career at Salomon Brothers in 1984, where I became a managing director in the bond-arbitrage group, and in 1993 I was a co-founding partner of the hedge fund Long-Term Capital Management. I founded Elm Wealth in 2011 to help clients, including my own family, manage and preserve their wealth with a thoughtful, research-based, and cost-effective approach that covers not just investment management but also broader decisions about wealth and finances.

Victor's book list on intelligent financial decision-making in less than 200 pages

Victor Haghani Why did Victor love this book?

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.

By John C. Bogle,

Why should I read it?

6 authors picked The Little Book of Common Sense Investing as one of their favorite books, and they share why you should read it.

What is this book about?

The best-selling index investing "bible" offers new information and is updated to reflect the latest market data The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund veteran John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks the S&P 500 Stock Index. Such an index portfolio is the only investment that guarantees your fair share of…


Book cover of The Black Swan

Roger W. Hoerl Author Of Statistical Thinking: Improving Business Performance

From my list on AI and data science that are actually readable.

Why am I passionate about this?

As a professional statistician, I am naturally interested in AI and data science. However, in our current information age, everyone, in all segments of society, needs to understand the basics of AI and data science. These basics include such things as what these disciplines are, what they can contribute to society, and perhaps most importantly, what can go wrong. However, I have found that much of the literature on these topics is highly technical and beyond the reach of most readers. These books are specifically selected because they are readable by virtually everyone, and yet convey the key concepts needed to be data-literate in the 21st century. Enjoy!

Roger's book list on AI and data science that are actually readable

Roger W. Hoerl Why did Roger love this book?

A “Black Swan” is a highly unlikely event that occurs with massive consequences. Think of 9/11 or the astonishing success of Google or Amazon.

The main issue relative to Black Swans, as explained by Talib, is that after the fact people are drawn to concocting detailed explanations that make them seem less random, and more predictable. In other words, people develop causal explanations that are completely wrong, but sound reasonable, and will then use them to predict the future.

In the words of Nate Silver, they invent a “signal” to explain what is in reality “noise.” These explanations also create a false sense of security about our ability to predict future events. In short, we fool ourselves into thinking that we know more than we actually do.

By Nassim Nicholas Taleb,

Why should I read it?

7 authors picked The Black Swan as one of their favorite books, and they share why you should read it.

What is this book about?

The most influential book of the past seventy-five years: a groundbreaking exploration of everything we know about what we don’t know, now with a new section called “On Robustness and Fragility.”

A black swan is a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. The astonishing success of Google was a black swan; so was 9/11. For Nassim Nicholas Taleb, black swans underlie almost everything about our world, from the rise of religions…


Book cover of Against the Gods: The Remarkable Story of Risk

Michael Smithson Author Of Uncertainty and Risk: Multidisciplinary Perspectives

From my list on ignorance, uncertainty, and risk.

Why am I passionate about this?

My interest in ignorance and uncertainty was sparked when I was an undergraduate mathematics student. I was taking my first courses in probability and then reading about Gödel’s incompleteness theorem, realizing that even mathematics contains untamed unknowns. Later, as a PhD student in sociology I read theories about how knowledge is socially constructed, the foundation of the “sociology of knowledge”. I wondered why there wasn’t also a “sociology of ignorance”. That ignited my interest, and the social construction of ignorance became my life-long research topic. I have since seen it grow from my solo efforts in the 1980s to a flourishing multidisciplinary topic of research and public debate.  

Michael's book list on ignorance, uncertainty, and risk

Michael Smithson Why did Michael love this book?

This was a real eye-opener for me when it appeared, because instead of the usual strictly modern-day stories about risk, Bernstein’s story begins with ancient Greek traditions when “risk” was luck and restricted to gambling, and the rest of life was a matter of fate.

He weaves together the invention of Arabic numbering and the Hindu zero, the emergence of scientific experimental methods, and the invention of probability theory, in explaining the evolution of the notion of risk. 

As the story moves into the modern era, Bernstein tracks the major practical applications of risk in addition to its conceptual development. And this is no dry historical recitation. Bernstein brings to life the major players, their hopes, dreams, capabilities, and flaws. This book is an absolute page-turner. 

By Peter L. Bernstein,

Why should I read it?

3 authors picked Against the Gods as one of their favorite books, and they share why you should read it.

What is this book about?

A Business Week, New York Times Business, and USA Today Bestseller "Ambitious and readable ...an engaging introduction to the oddsmakers, whom Bernstein regards as true humanists helping to release mankind from the choke holds of superstition and fatalism." -The New York Times "An extraordinarily entertaining and informative book." -The Wall Street Journal "A lively panoramic book ...Against the Gods sets up an ambitious premise and then delivers on it." -Business Week "Deserves to be, and surely will be, widely read." -The Economist "[A] challenging book, one that may change forever the way people think about the world." -Worth "No one…


Book cover of The Snowball: Warren Buffett and the Business of Life

Vitaliy Katsenelson Author Of Soul in the Game: The Art of a Meaningful Life

From my list on that bring meaning to your life.

Why am I passionate about this?

I am an investor who happens to love writing, music, and simply life in general. I was born in Murmansk, Russia, where I spent my first 18 years. My family moved to Denver in 1991, and I have lived there since. I’m CEO of IMA, a value investing firm where I have creative freedom to focus on things I love. I was so fortunate to stumble into writing; it has completely rewired my mind by providing a daily two-hour refuge for focused thinking. I am constantly on the lookout for new stories and fresh insights. Writing is what keeps me in student-of-life mode, and there is so much to learn!

Vitaliy's book list on that bring meaning to your life

Vitaliy Katsenelson Why did Vitaliy love this book?

This is an authorized biography of Warren Buffett. I am not sure this is the best book to read if you want to learn to invest like Mr. Buffett, but it gives a fascinating view of his life. There are many great lessons we can learn from Mr. Buffett that go far beyond investing, for example about honesty and treasuring one’s reputation. But I thought this book was important for a very different reason: it shows that Warren Buffett is not a perfect human being and that we can also learn from the maestro by not repeating his mistakes. He achieved his unparalleled success in his business life at the expense of his personal life.

I find myself wanting to work 24/7. I bring my laptop home, or start reading The Wall Street Journal on my iPad at the dinner table – and my work life starts pushing out my…

By Alice Schroeder,

Why should I read it?

3 authors picked The Snowball as one of their favorite books, and they share why you should read it.

What is this book about?

The personally revealing and complete biography of the man known everywhere as “The Oracle of Omaha”—for fans of the HBO documentary Becoming Warren Buffett

Here is the book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom.

Although the media track him constantly, Buffett himself has never told his full life story. His…


Book cover of The Warren Buffett Way

Joe Carlen Author Of The Einstein Money: The Life and Timeless Financial Wisdom of Benjamin Graham

From my list on understanding value investing and business value.

Why am I passionate about this?

As an investor and a professional business valuation specialist, I have a passion for understanding the true intrinsic value of both publicly-traded and closely-held (private) companies. There’s no denying that Warren Buffett, emulating the example of his mentor Benjamin Graham, applied a private company valuation approach to the selection of publicly-traded stocks and the results speak for themselves. Furthermore, given my somewhat technical educational and vocational background, I am more comfortable than most valuators with highly technical and IP-weighted businesses. That is why I consider IP valuation to be an integral element of business valuation. 

Joe's book list on understanding value investing and business value

Joe Carlen Why did Joe love this book?

While Graham is the pioneer of value investing, there’s no question that his student, employee, and, ultimately, close friend Warren Buffett is its most successful practitioner. Although the essence of their respective approaches is similar, there are some important differences to understand. As the best book about Buffett’s investing style that I’ve encountered thus far, Hagstrom’s The Warren Buffett Way highlights some of Buffett’s most astonishing investment coups and the logic behind them. Upon reading both of those books, the reader will have gained a nuanced understanding of how Buffett took the Graham approach to business valuation/security selection and improved upon it. 

By Robert G. Hagstrom,

Why should I read it?

2 authors picked The Warren Buffett Way as one of their favorite books, and they share why you should read it.

What is this book about?

Warren Buffett is the most famous investor of all time and one of today s most admired business leaders. He became a billionaire and investment sage by looking at companies as businesses rather than prices on a stock screen. The first two editions of The Warren Buffett Way gave investors their first in-depth look at the innovative investment and business strategies behind Buffett s spectacular success. The new edition updates readers on the latest investments by Buffett. And, more importantly, it draws on the new field of behavioral finance to explain how investors can overcome the common obstacles that prevent…


Book cover of Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2013

John M. Longo Author Of Buffett's Tips: A Guide to Financial Literacy and Life

From my list on Warren Buffett on investing and life.

Why am I passionate about this?

I’m an investor from three perspectives or dimensions. First, I manage money for individuals and institutions as Chief Investment Officer of Beacon Trust, a $4 billion registered investment advisor based in NY/NJ. Second, I teach MBA classes in investing at Rutgers Business School, Columbia Business School, London Business School, and Hong Kong University (HKU) Business School. Third, I write articles and books on investing, including The Art of Investing: Lesson’s from History’s Greatest Traders and Buffett’s Tips: A Guide to Financial Literacy and Life. I’ve personally met Warren Buffett on four separate occasions and think he is an excellent role model from both investing and personal perspectives.  

John's book list on Warren Buffett on investing and life

John M. Longo Why did John love this book?

Carol Loomis has edited Buffett’s widely read Letter to Shareholders for many decades. She is also an outstanding journalist who was a writer and editor at Fortune for 60 years. Her book is a compilation of many of her interviews with Buffett over the years, with some additional commentary. As the book subtitle indicates, the book covers “practically everything” in a conversational format so it is sort of a quasi-biography of Buffett.

By Carol J. Loomis,

Why should I read it?

1 author picked Tap Dancing to Work as one of their favorite books, and they share why you should read it.

What is this book about?

Tap Dancing to Work compiles six decades of writing on legendary investor Warren Buffett, from Carol Loomis, the reporter who knows him best.

Warren Buffett built Berkshire Hathaway into something remarkable - and Fortune had a front-row seat

When Fortune writer Carole Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 article, she didn't dream that Warren Buffett would become the world's greatest investor. Nor did she imagine that she and Buffett would be close friends.

As Buffett's fortune and reputation grew, Loomis used her unique insight into his thinking to chronicle his work, writing scores of…


Book cover of Buffett: The Making of an American Capitalist

George Anders Author Of Merchants of Debt: KKR and the Mortgaging of American Business

From my list on financial heroes and villains.

Why am I passionate about this?

My first job after college was at The Wall Street Journal, working evenings as a copyreader. It was thrilling to enter a big-league newsroom, but torture to be confined to putting tiny headlines on even tinier stories. Then at age 23, after a whirlwind staff shuffle, I started writing the paper’s premier stock-market column, “Heard on the Street.” Daylight had arrived. For the next 11 years, I covered finance. I met billionaires and people en route to prison. It wasn’t always easy to tell them apart! My writing career has widened since then but sizing up markets – and the people who rule them – remains an endless fascination. 

George's book list on financial heroes and villains

George Anders Why did George love this book?

There have been newer books on Warren Buffett since this 1995 gem, but this one goes the deepest into the mechanisms that have brought Buffett a $124 billion fortune. Plus it’s the best on Buffett’s quirky personality. I’ve known Roger from our days at The Wall Street Journal together, and it was exciting seeing him research this project over a three-year span – even if Buffett never officially helped him. The finished book made me feel I “knew” Buffett as if he were a long-time neighbor. 

By Roger Lowenstein,

Why should I read it?

2 authors picked Buffett as one of their favorite books, and they share why you should read it.

What is this book about?

Since its hardcover publication in August of 1995, Buffett has appeared on the Wall Street Journal, New York Times, San Francisco Chronicle, Los Angeles Times, Seattle Times, Newsday and Business Week bestseller lists.

Starting from scratch, simply by picking stocks and companies for investment, Warren Buffett amassed one of the epochal fortunes of the twentieth century—an astounding net worth of $10 billion, and counting. His awesome investment record has made him a cult figure popularly known for his seeming contradictions: a billionaire who has a modest lifestyle, a phenomenally successful investor who eschews the revolving-door trading of modern Wall Street,…


Book cover of A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing

Eric Tyson Author Of Investing For Dummies

From my list on getting smarter about investing and money.

Why am I passionate about this?

When I was growing up, I saw family members and friends, who were otherwise smart people who could master other aspects of their lives, have difficulty with personal finance decisions and investing. When my dad was laid off during a recession, he had some retirement money distributed to him, and I got interested in investing as he researched and tried with difficulty to handle this money himself. In my young adult years, I was a sponge to learn as much as I could about personal finance. 

Eric's book list on getting smarter about investing and money

Eric Tyson Why did Eric love this book?

I first read this book as required reading for a college course, and it greatly changed how I thought about investing.

Over the years, I’ve read updated editions, and it never gets stale and always includes new information and insights. But the foundational issues have stood the test of time and remain in the newest edition.

I also love this book because it introduced me at a young age to mutual funds and Vanguard.

By Burton G. Malkiel,

Why should I read it?

8 authors picked A Random Walk Down Wall Street as one of their favorite books, and they share why you should read it.

What is this book about?

Today's stock market is not for the faint hearted. At a time of frightening volatility, the answer is to turn to Burton G. Malkiel's advice in his reassuring, authoritative, gimmick-free and perennially best-selling guide to investing. Long established as the first book to purchase before starting a portfolio, A Random Walk Down Wall Street now features new material on "tax-loss harvesting"; the current bitcoin bubble and automated investment advisers; as well as a brand-new chapter on factor investing and risk parity. And as always, Malkiel's core insights-on stocks and bonds, as well as investment trusts, home ownership and tangible assets…


Book cover of The Intelligent Investor

Joe Carlen Author Of The Einstein Money: The Life and Timeless Financial Wisdom of Benjamin Graham

From my list on understanding value investing and business value.

Why am I passionate about this?

As an investor and a professional business valuation specialist, I have a passion for understanding the true intrinsic value of both publicly-traded and closely-held (private) companies. There’s no denying that Warren Buffett, emulating the example of his mentor Benjamin Graham, applied a private company valuation approach to the selection of publicly-traded stocks and the results speak for themselves. Furthermore, given my somewhat technical educational and vocational background, I am more comfortable than most valuators with highly technical and IP-weighted businesses. That is why I consider IP valuation to be an integral element of business valuation. 

Joe's book list on understanding value investing and business value

Joe Carlen Why did Joe love this book?

The most popular book by the father of value investing, The Intelligent Investor imparts Graham’s time-tested stock and bond selection principles in a manner that is less technical and more conversational than Graham and Dodd’s earlier Security AnalysisGraham’s core principles around conducting intrinsic value analysis first and then purchasing securities that the market has mispriced at below that value are all addressed here in wonderful Graham prose. Since he pioneered that strategy, it makes good sense to read directly from the master. 

Aside from that, what I like about this book is that it addresses the often overlooked but vital psychological aspects of investing. Last but not least, did I mention that The Intelligent Investor is Warren Buffett’s favorite investment book of all time? When I interviewed him for my own book, he stated that Graham’s book “just made clear sense to me as a book about…

By Benjamin Graham,

Why should I read it?

2 authors picked The Intelligent Investor as one of their favorite books, and they share why you should read it.

What is this book about?

The classic bestseller by Benjamin Graham, "The Intelligent Investor" has taught and inspired hundreds of thousands of people worldwide. Since its original publication in 1949, Benjamin Graham's book has remained the most respected guide to investing, due to his timeless philosophy of "value investing", which helps protect investors against the areas of possible substantial error and teaches them to develop long-term strategies with which they will be comfortable down the road. Over the years, market developments have borne out the wisdom of Graham's basic policies, and in today's volatile market, "The Intelligent Investor" is the most important book you will…


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