89 books like Think Twice

By Michael J. Mauboussin,

Here are 89 books that Think Twice fans have personally recommended if you like Think Twice. Shepherd is a community of 11,000+ authors and super readers sharing their favorite books with the world.

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Book cover of Unconventional Success: A Fundamental Approach to Personal Investment

Martin S. Fridson Author Of Investment Illusions: A Savvy Wall Street Pro Explores Popular Misconceptions About the Markets

From my list on investing from a money manager.

Why am I passionate about this?

I’m a money manager for high-net-worth individuals. During my Wall Street years, I was ranked number one in my category in the Institutional Investor All America Research Survey for nine consecutive years. The CFA Society New York presented me its Ben Graham Award in 2017. I’ve served as a governor of the CFA Institute and consultant to the Federal Reserve Board of Governors. My writings have appeared in the Wall Street Journal, Barron’s, the Financial Times, and various scholarly journals. I live in New York City with my wife, musicologist Elaine Sisman. We have two children and five grandchildren.

Martin's book list on investing from a money manager

Martin S. Fridson Why did Martin love this book?

As head of the Yale University endowment fund, the late David Swensen was one of the foremost innovators and most successful practitioners of institutional investing. Remarkably, he also wrote one of the best books ever for individual investors. Unconventional Success shows why on average, mutual fund investors significantly underperform the funds they own: They trade excessively, buying at the highs and selling at the lows, creating tax inefficiencies in the process. Swensen also valuably details hazards to avoid in fund selection. 

By David F. Swensen,

Why should I read it?

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

What is this book about?

In UNCONVENTIONAL SUCCESS, investment legend David Swensen reveals why the for-profit mutual fund industry consistently fails the average investor, from its excessive management and incentive fees to the frequent 'churning' of portfolios that forces investors to pay higher taxes. Perhaps most destructive of all are flagrant schemes designed to thwart regulators and further erode portfolios, limiting investor choice and reducing returns. Swensen's solution? A 'contrarian' investment alternative that creates more diversified, equity-oriented, 'market-mimicking' portfolios that minimize loss and reward the investor with the courage to stay the course. Swensen backs up his unconventional proposal with well-documented evidence supporting not-for-profit investment…


Book cover of Winning the Loser's Game: Timeless Strategies for Successful Investing

Stephen R. Foerster Author Of In Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest

From my list on developing your investment philosophy.

Why am I passionate about this?

I’ve been interested in investing for over four decades since I started as a finance PhD student at Wharton. Since then my research has focused on understanding the stock market. Early on, I tried applying my research to my investing. For example, I was convinced that a recently listed stock called Google was way overvalued—was I ever wrong! That got me to reflect on my investment philosophy—what did I truly believe about how markets really behaved? That brought me back to understanding and appreciating the contributors to Modern Portfolio Theory, which led to a fun decade-long book project. Currently I enjoy writing about investing through my blog.

Stephen's book list on developing your investment philosophy

Stephen R. Foerster Why did Stephen love this book?

I had the pleasure of interviewing Charley for our book.

He’s a great storyteller. He was probably the first practitioner to advocate for passive index investing. He’s a tennis enthusiast, and his book was inspired by a book he read aimed at amateur tennis players. Ellis learned that to win at tennis, the best strategy is to simply try to not lose, and to not try to act like professional players.

He realized that the same strategy worked for investors as well. That means that investors shouldn’t try to beat the market.

By Charles Ellis,

Why should I read it?

5 authors picked Winning the Loser's Game as one of their favorite books, and they share why you should read it.

What is this book about?

The definitive guide to long-term investing success-fully updated to address the realities of today's markets

Technology, information overload, and increasing market dominance by expert investors and computers make it harder than ever to produce investing results that overcome operating costs and fees. Winning the Loser's Game reveals everything you need to know to reduce costs, fees, and taxes, and focus on long-term policies that are right for you.

Candid, short, and super easy to read, Winning the Loser's Game walks you through the process of developing and implementing a powerful investing strategy that generates solid profits year after year. In…


Book cover of The Most Important Thing: Uncommon Sense for the Thoughtful Investor

Martin S. Fridson Author Of Investment Illusions: A Savvy Wall Street Pro Explores Popular Misconceptions About the Markets

From my list on investing from a money manager.

Why am I passionate about this?

I’m a money manager for high-net-worth individuals. During my Wall Street years, I was ranked number one in my category in the Institutional Investor All America Research Survey for nine consecutive years. The CFA Society New York presented me its Ben Graham Award in 2017. I’ve served as a governor of the CFA Institute and consultant to the Federal Reserve Board of Governors. My writings have appeared in the Wall Street Journal, Barron’s, the Financial Times, and various scholarly journals. I live in New York City with my wife, musicologist Elaine Sisman. We have two children and five grandchildren.

Martin's book list on investing from a money manager

Martin S. Fridson Why did Martin love this book?

Forget bromides such as buying a stock because your experience with the company’s product has been good. The hugely successful money manager Howard Marks makes the essential point that the goal is not to find good companies but to make good purchases. “It’s not what you buy,” he says, “it’s what you pay for it.”  Investors who are interested in good outcomes rather than thrills will find many more sound principles in this book.

By Howard Marks,

Why should I read it?

1 author picked The Most Important Thing as one of their favorite books, and they share why you should read it.

What is this book about?

"This is that rarity, a useful book."--Warren Buffett Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, all readers can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and seasoned investor. Informed by a lifetime of experience and study,…


Book cover of Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich

Martin S. Fridson Author Of Investment Illusions: A Savvy Wall Street Pro Explores Popular Misconceptions About the Markets

From my list on investing from a money manager.

Why am I passionate about this?

I’m a money manager for high-net-worth individuals. During my Wall Street years, I was ranked number one in my category in the Institutional Investor All America Research Survey for nine consecutive years. The CFA Society New York presented me its Ben Graham Award in 2017. I’ve served as a governor of the CFA Institute and consultant to the Federal Reserve Board of Governors. My writings have appeared in the Wall Street Journal, Barron’s, the Financial Times, and various scholarly journals. I live in New York City with my wife, musicologist Elaine Sisman. We have two children and five grandchildren.

Martin's book list on investing from a money manager

Martin S. Fridson Why did Martin love this book?

Financial journalist Jason Zweig shows how the young field of neuroeconomics explains the biological factors underlying smart people’s irrational investment decisions. For example, brain scans show that the fear center lights up when investors consider putting money into foreign stocks, despite the demonstrated value of international diversification. Also to their detriment, investors perceive patterns of returns where none exist. It’s imperative to understand these cognitive errors to get proper control over investments.   

By Jason Zweig,

Why should I read it?

1 author picked Your Money and Your Brain as one of their favorite books, and they share why you should read it.

What is this book about?

Synopsis coming soon.......


Book cover of The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing

John M. Jennings Author Of The Uncertainty Solution: How to Invest with Confidence in the Face of the Unknown

From my list on novices to learn about investing.

Why am I passionate about this?

I’ve long been fascinated by money and wealth and people’s relationship to them. I started my career as an estate planning attorney and then broadened my expertise to investing. I know that investing can seem scary due to the complexity of the financial markets and the overwhelming amount of investment products and strategies. But successful investing doesn’t have to be hard or scary. With the proper guidance, anyone can embark on a strategy of creating wealth through investing. Reading the right book is a good first step in the right direction.

John's book list on novices to learn about investing

John M. Jennings Why did John love this book?

The Success Equation is my favorite investment book.

In it, Mauboussin tackles a significant question in investing: to what extent can investment results be attributed to skill versus luck? Mauboussin introduces the skill-luck continuum to explain this, with competitions like chess and running races being at the skill end and games like roulette and slot machines being at the luck end.

Sports such as football and basketball are closer to the skill side, while investing is closer to the luck side. Using this model, Mauboussin provides useful tools for evaluating investment opportunities while considering skill and luck. 

By Michael J. Mauboussin,

Why should I read it?

1 author picked The Success Equation as one of their favorite books, and they share why you should read it.

What is this book about?

"Much of what we experience in life results from a combination of skill and luck." -- From the Introduction The trick, of course, is figuring out just how many of our successes (and failures) can be attributed to each--and how we can learn to tell the difference ahead of time. In most domains of life, skill and luck seem hopelessly entangled. Different levels of skill and varying degrees of good and bad luck are the realities that shape our lives--yet few of us are adept at accurately distinguishing between the two. Imagine what we could accomplish if we were able…


Book cover of Thinking, Fast and Slow

Scott Galloway Author Of The Algebra of Wealth: A Simple Formula for Financial Security

From my list on helping you be your best self.

Why am I passionate about this?

I try to use my platform to  help people consider how to live a more meaningful life. I've made mistakes, learned from them, and want to pass on those lessons. There are many definitions of success and fulfillment and many paths to achieve it. I hope by telling my story others can avoid some of the mistakes I made.

Scott's book list on helping you be your best self

Scott Galloway Why did Scott love this book?

Professor Kahneman’s ideologies on decision-making have helped me in business and my personal life.

His insights have enhanced my decision-making process and helped me navigate the strait between instinct and decision. His insights have encouraged me to delegate routine decisions, allowing me to reserve my mental energy for the most critical choices.

By Daniel Kahneman,

Why should I read it?

42 authors picked Thinking, Fast and Slow as one of their favorite books, and they share why you should read it.

What is this book about?

The phenomenal international bestseller - 2 million copies sold - that will change the way you make decisions

'A lifetime's worth of wisdom' Steven D. Levitt, co-author of Freakonomics
'There have been many good books on human rationality and irrationality, but only one masterpiece. That masterpiece is Thinking, Fast and Slow' Financial Times

Why is there more chance we'll believe something if it's in a bold type face? Why are judges more likely to deny parole before lunch? Why do we assume a good-looking person will be more competent? The answer lies in the two ways we make choices: fast,…


Book cover of Nudge: Improving Decisions about Health, Wealth, and Happiness

Markus Eberl Author Of War Owl Falling: Innovation, Creativity, and Culture Change in Ancient Maya Society

From my list on innovation in the past when this wasn't yet a thing.

Why am I passionate about this?

As an archaeologist, I love prehistoric things and what can I learn from them about the people that made them and left them behind. I study ancient Maya commoners in what is now modern Guatemala. Their material remains are humble but include depictions and symbols normally found in the palaces of Maya kings and queens. First I wondered and then I studied how the title-giving war owl fell into the hands of Maya commoners. By approaching this process as innovation, I discuss creativity in the past and cultural changes that result from it.

Markus' book list on innovation in the past when this wasn't yet a thing

Markus Eberl Why did Markus love this book?

This book introduced the concept of nudging into the public discourse, and I guess all of us have encountered it one way or the other. How many reminders have I gotten to sign up for this or that program?… Alas, I love Thaler and Sunstein's concept of choice architects. It made me think about power as a capacity to affect not only people but also the very framework in which people make decisions.

By Richard H. Thaler, Cass R. Sunstein,

Why should I read it?

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

What is this book about?

Now available: Nudge: The Final Edition

The original edition of the multimillion-copy New York Times bestseller by the winner of the Nobel Prize in Economics, Richard H. Thaler, and Cass R. Sunstein: a revelatory look at how we make decisions—for fans of Malcolm Gladwell’s Blink, Charles Duhigg’s The Power of Habit, James Clear’s Atomic Habits, and Daniel Kahneman’s Thinking, Fast and Slow

Named a Best Book of the Year by TheEconomist and the Financial Times

Every day we make choices—about what to buy or eat, about financial investments or our children’s health and education, even about the causes we champion…


Book cover of The Effective Executive: The Definitive Guide to Getting the Right Things Done

Patrick Forsyth Author Of Successful Time Management: How to be Organized, Productive and Get Things Done

From my list on common sense to help you succeed in business.

Why am I passionate about this?

Having begun my career in publishing, I worked for many years as a management consultant and trainer; alongside that, I have written and published many books offering advice on management, marketing, and job skills, like the time management book shown above, a bestseller now in its sixth edition. I have always thought management often fails by overlooking the importance of issues rather than finding things difficult; I hope my business writing helps identify priorities and shows that the deployment of various techniques and skills can be manageable–and useful.

Patrick's book list on common sense to help you succeed in business

Patrick Forsyth Why did Patrick love this book?

This was perhaps the first bestselling business book and became a classic. Drucker coined many maxims, for example, saying that if you don’t know where you are going, any road will do. This is obvious, but how many flounder for lack of clear objectives?

Good, sound common sense is here that stands a new look in the present day, even if it comes from a time when legislation and political correctness made things more straightforward while leaving some current issues unaddressed.

By Peter F. Drucker,

Why should I read it?

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

What is this book about?

What makes an effective executive?

The measure of the executive, Peter F. Drucker reminds us, is the ability to "get the right things done." This usually involves doing what other people have overlooked as well as avoiding what is unproductive. Intelligence, imagination, and knowledge may all be wasted in an executive job without the acquired habits of mind that mold them into results.

Drucker identifies five practices essential to business effectiveness that can, and must, be learned: Managing time Choosing what to contribute to the organization Knowing where and how to mobilize strength for best effect Setting the right priorities…


Book cover of Predictably Irrational: The Hidden Forces That Shape Our Decisions

Emily Guy Birken Author Of Making Social Security Work for You: Advice, Strategies, and Timelines That Can Maximize Your Benefits

From my list on changing the way you look at money.

Why am I passionate about this?

When I was about 8, I remember taking all the money out of my piggy bank, counting it, and carefully putting it back in again. My sister called me Ms. Moneybags. But I wasn’t worried about accumulating money. I was fascinated by money’s pure potential. I could do anything with it! From that early interest in the potential of money, I grew to be an avid reader of financial books–and that led to a surprise career as a money writer. I still love to think about money’s potential and the best ways to allocate that potential, and I love to bring my readers with me on the fascinating journey.

Emily's book list on changing the way you look at money

Emily Guy Birken Why did Emily love this book?

As of 2023, behavioral economics is no longer a surprising new look at old economics principles–but that doesn’t change just how entertaining, surprising, and challenging you will find the experiments detailed in Predictably Irrational. 

In one notable experiment, Dr. Ariely placed six-packs of soft drinks next to plates of cash inside of communal dorm fridges–to prove we tend to be honest about cash but feel no compunction about swiping someone else’s Coke. In another memorable experiment, male volunteers were asked moral questions when they were in a state of arousal–which helped prove that morals are flexible depending on the circumstances. 

Reading this book will make you realize just how often you make decisions–especially financial decisions–that are weird, illogical, and irrational.

By Dan Ariely,

Why should I read it?

13 authors picked Predictably Irrational as one of their favorite books, and they share why you should read it.

What is this book about?

Why do smart people make irrational decisions every day? The answers will surprise you. Predictably Irrational is an intriguing, witty and utterly original look at why we all make illogical decisions.

Why can a 50p aspirin do what a 5p aspirin can't? If an item is "free" it must be a bargain, right? Why is everything relative, even when it shouldn't be? How do our expectations influence our actual opinions and decisions?

In this astounding book, behavioural economist Dan Ariely cuts to the heart of our strange behaviour, demonstrating how irrationality often supplants rational thought and that the reason for…


Book cover of The Art of Strategy: A Game Theorist's Guide to Success in Business and Life

Felix Munoz-Garcia Author Of Game Theory: An Introduction with Step-by-Step Examples

From my list on learning Game Theory.

Why am I passionate about this?

I am a Professor of Economics at Washington State University. My research focuses on applying Game Theory and Industrial Organization models to polluting industries and other regulated markets. I analyze how firms strategically respond to environmental regulation, including their output and pricing decisions, their investments in clean technologies, and merger decisions, both under complete and incomplete information contexts.

Felix's book list on learning Game Theory

Felix Munoz-Garcia Why did Felix love this book?

This book is a beautiful, non-mathematical introduction to Game Theory for everyone, even high school students interested in strategy, its basic modeling, and how to solve games.

It has applications to everyday life, including examples from real business and political science, making it accessible to all sorts of readers. Its verbal description of some solution concepts and mathematical results is, however, too lengthy at times, especially for non-English speakers and students with a good math background, potentially leading to unnecessary confusion.

By Avinash Dixit, Barry J. Nalebuff,

Why should I read it?

1 author picked The Art of Strategy as one of their favorite books, and they share why you should read it.

What is this book about?

Game theory means rigorous strategic thinking. It's the art of anticipating your opponent's next moves, knowing full well that your rival is trying to do the same thing to you. Though parts of game theory involve simple common sense, much is counterintuitive, and it can only be mastered by developing a new way of seeing the world. Using a diverse array of rich case studies-from pop culture, TV, movies, sports, politics, and history-the authors show how nearly every business and personal interaction has a game-theory component to it. Mastering game theory will make you more successful in business and life,…


5 book lists we think you will like!

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