As a wealth advisor for over 37 years, I find many people reach retirement lacking clarity and confidence. Traditional financial advice often focuses on things that are unknowable, uncontrollable, and frankly don’t matter that much. While sound technical investment, estate, and tax planning are critical, the soul’s need for meaning and purpose are as important as sound financial plans. The path to true financial peace may be simpler than you think. These books can help you focus on the fewer, more critical things so that you can thrive in retirement and free yourself from financial media which is not in business to support your vision of a meaningful life.
There are many great books on behavioral investing.
Some are quite difficult to get through with case studies and a deep discussion of the research.
What I love about this book is that Dr. Crosby pulls so much of the research together in a humorous, entertaining, and useful way. Using stories and analogies, you can learn how to be a better investor by managing your behavior.
From the New York Times bestselling author of the book named the best investment book of 2017 comes The Behavioral Investor, an applied look at how psychology ought to inform the art and science of investment management.
In The Behavioral Investor, psychologist and asset manager Dr. Daniel Crosby examines the sociological, neurological and psychological factors that influence our investment decisions and sets forth practical solutions for improving both returns and behavior. Readers will be treated to the most comprehensive examination of investor behavior to date and will leave with concrete solutions for refining decision-making processes, increasing self-awareness and constraining the…
I am the author of The Neatest Little Guide to Stock Market Investing and The 3% Signal, among other financial books, and editor of The Kelly Letter. Despite having been ranked by CXO Advisory as one of the best stock-market forecasters, I gave up the practice in favor of price reaction. I realized that nobody knows where stocks are headed, myself included, and set out to find ways to beat the market without forecasting—and succeeded. My readers and I are now much happier and wealthier.
I liked this book enough to write a blurb for it, as follows: “Any plan that would have led investors to Amazon, Apple, and Google is fine by me—and this one would have. Edward Ryan has created a systematic framework for owning what you know, a tried-and-true tactic.” No less a luminary than Peter Lynch endorses the idea, and in this book you’ll learn five steps to systematize it: list your life activities, extract stock ideas from them, rank those stocks, invest, and manage the portfolio. The second step is the most interesting to me; it’s where you consider which products and services in your life are most likely to keep a stock moving higher.
Professional investors on Wall Street have the best education, the deepest knowledge of company accounts, the latest technology, and teams of analysts at their disposal to help them identify the best stock investments. That is their edge. As a part-time, individual investor, you cannot compete on their turf.
What can you do? This is where The World's Simplest Stock Picking Strategy comes in.
As you go about your life, there are companies you interact with regularly as a consumer. Some companies will stand out to you as having remarkable products or services, which you use…
I am the author of The Neatest Little Guide to Stock Market Investing and The 3% Signal, among other financial books, and editor of The Kelly Letter. Despite having been ranked by CXO Advisory as one of the best stock-market forecasters, I gave up the practice in favor of price reaction. I realized that nobody knows where stocks are headed, myself included, and set out to find ways to beat the market without forecasting—and succeeded. My readers and I are now much happier and wealthier.
Ready to roll up your sleeves? This book takes work but is worth the mental energy. It’s a departure from most rules-based material in that it advocates applying objective odds when making subjective judgments. I prefer an all-algorithmic approach, but tip my hat to this hybrid strategy—far preferable to mainstream financial-media dart-tossing. Established patterns exist and are exploitable. Big-picture tactics trump lucky breaks. How much better the world would be if more people understood that bonds are less volatile than stocks. This book confirms that tweaking essential portfolio management factors to eke out a slight advantage runs circles around the casino mindset.
Praise for Quantitative Equity Portfolio Management
"A must-have reference for any equity portfolio manager or MBA student, this book is a comprehensive guide to all aspects of equity portfolio management, from factor models to tax management."ERIC ROSENFELD, Principal & Co-founder of JWM Partners
"This is an ambitious book that both develops the broad range of artillery employed in quantitative equity investment management and provides the reader with a host of relevant practical examples. The book excels in melding theory with practice."STEPHEN A. ROSS, Franco Modigliani Professor of Financial Economics, Massachusetts Institute of Technology
I am economist who first started exploring retirement planning for my own personal situation. I became so captivated by the topic that I changed fields and was selected as the Professor of Retirement Income at the American College of Financial Services. I am a past curriculum director for the Retirement Management Analyst designation and past program director for the Retirement Income Certified Professional designation. More recently, I am the co-creator of the Retirement Income Style Awareness and co-host of the Retire with Style podcast. I enjoy learning and teaching about all topics related to retirement.
When looking for the birth of retirement income planning, many arrows will point to William Bengen, a financial planner who looked to the historical data to better understand about what the sustainable spending rate from an investment portfolio is.
His pioneering research led to what is known today as the 4% guideline for retirement spending. In this book, he combines all his previous research into an easy-to-digest format. He explores what can be learned from historical data when it comes to retirement spending.
The leading edge of the baby boomer wave will pass through age 68 this year. Retirement looms large for them and the 20-year generation that follows. Although many in the generation have saved to supplement their retirement, they will probably live longer in retirement than any previous generation, so they must grapple with questions about how to manage that money and make it last. The purpose of this book is to present the author's groundbreaking research into this topic, presenting new material as well as an update of the original research in a comprehensive, authoritative form.
We first met about 10 years ago at Sheffield Hallam University, bonding as work colleagues over a love of enabling students to understand wealth management and finance in a way that we hoped they would find interesting and accessible. The books we chose mix our love of storytelling and making finance accessible by using real-world experiences. They do this in a unique way, challenging the reader to think about their understanding and perspective, something we try to do every day. It has been lovely to reread these books before writing the reviews, reminding us of what makes us tick. We hope they help you to find your tick too.
We enjoyed this book for its innovative approach, which involves a very specific and defined focus, and its appropriateness for a broad spectrum of investors. The method empowers investors to utilise selected criteria in their investment choices to create a successful investment strategy. It provides “tried and tested” principles for “stock pickers,” focusing on the author’s growth investing specialism.
The book is written in a style that is easy to digest but makes some complex investment methods seem obvious, just what I like in books. It is concise but each chapter allows the reader to reflect on their understanding. This represents a good investment for an investor looking to broaden their knowledge and develop their own investment approach.
Jim Slater's classic text brought back into print Jim Slater makes available to the investor - whether the owner of only a few shares or an experienced investment manager with a large portfolio - the secrets of his success. Central to his strategy is "The Zulu Principle", the benefits of homing in on a relatively narrow area. Deftly blending anecdote and analysis, Jim Slater gives valuable selective criteria for buying dynamic growth shares, turnarounds, cyclicals, shells and leading shares. He also covers many other vitally relevant aspects of investment such as creative accounting, portfolio management, overseas markets and the investor's…
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.
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.
"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,…
I'm very passionate about teaching children's financial literacy and business because with social media, it's easy for children to get caught up in the flashy and shiny materialist things. I like to teach kids about business and how to use the mistakes in business to scale and grow. I have expertise in this area as I've written three books, taught financial literacy & business at schools, and own a few different businesses. After I graduated college, I was thrown into the 'real world' with a good job and learned my lessons the hard way by spending too much money on things that did not matter. Hence my passion to want to help The Misguided.
This book is a great option for children who want more activity rather than just reading. This book will keep you engaged!
It's another great option to work with your children and spend quality time teaching them how to make better financial decisions so that they are prepared for the world. I really enjoyed completing this book with my little nephew and the joy on his face when he realized how much money he can potentially have in the future is priceless.
Help your child become a financial whiz kid—for ages 8 to 12
It’s never too early to set children on the path to financial literacy. This activity book, a companion to Investing for Kids, teaches them how to become savvy with their finances. Through educational and engaging exercises, they’ll learn how to track their spending, make good investments, and so much more.
Build a financial vocabulary—Your kid will sound like a finance pro as they learn all sorts of important financial terms like mutual funds, debit vs. credit, and simple interest vs. compound interest.
Explore engaging activities—They’ll develop their money…
I come from an engineering background and early in my career I discover financial modelling as I had to assess the viability of business plans. I deal with financial models the last 20 years of my professional carrier as a Group Financial Officer of SIDMA STEEL SA. Moreover, I am teaching financial modelling in the American College of Greece, Deree, at University of Nicosia in collaboration with Globaltraing and many other places abroad. I am a numbers person, and I am fascinated by financial modelling as it provides you a tool to support effective decision-making.
Again, this is the kind of book that demonstrates practically how to forecast financial performance of a company and then value it.
It goes a step further and, as the title proclaims, the authors try to reverse engineer a price of a stock and match investors’ expectations with specific assumptions of the model. One of these assumptions is the growth period. This contrasts with the conventional practice of discounting a fixed growth period of five or ten years.
The book provides Excel models, backed up by the proper math, that are very helpful in deconstructing a share price to model assumptions and see if they are plausible or not.
Most investment books try to assess the attractiveness of a stock price by estimating the value of the company. Expectations Investing provides a powerful and insightful alternative to identifying gaps between price and value.
Michael J. Mauboussin and Alfred Rappaport suggest that an investor start with a known quantity, the stock price, and ask what it implies for future financial results. After showing how to read expectations, Mauboussin and Rappaport provide a guide to rigorous strategic and financial analysis to help investors assess the likelihood of revisions to these expectations. Their framework traces value creation from the triggers that shape…
I collected coins a kid. I went to college and studied econ. I worked in a bank. I later became a financial journalist. And later, a professional money manager. I’ve always been fascinated by money…the way it moves around the world, the enormous role it plays in peoples’ lives, the power it gives a select few, the good it can do, and the way it grows. As a fee-only financial planner running my own shop, I'm only peripherally involved with Wall Street. That frees me to step back and look at the key players, the shenanigans, the sometimes awful greed. The books I’ve selected were instrumental in helping others make their money work for them.
Finance doesn’t easily lend itself to humor, but Richards will make you laugh. His insights into the human mind, and human frailties are pure gold. In The Behavior Gap he examines the bad decisions that nearly all investors seem to make before they become good investors. You will recognize yourself in Richards’ words and in his whimsical and thought-provoking illustrations. This book is not so much about the optimal strategies of investing, but rather it focuses on the mindset needed to carry out those strategies. Yes, even we professionals can sometimes fall prey to portfolio-destroying greed, fears, and pie-in-the-sky thinking. I have read Richards's book a number of times to help keep my head screwed on straight, and it works its magic every time!
"It's not that we're dumb. We're wired to avoid pain and pursue pleasure and security. It feels right to sell when everyone around us is scared and buy when everyone feels great. It may feel right-but it's not rational." -From The Behavior Gap
Why do we lose money? It's easy to blame the economy or the financial markets-but the real trouble lies in the decisions we make.
As a financial planner, Carl Richards grew frustrated watching people he cared about make the same mistakes over and over. They were letting emotion get in the way of smart financial decisions. He…
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.
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.
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…
