The most recommended value investing books

Who picked these books? Meet our 8 experts.

8 authors created a book list connected to value investing, and here are their favorite value investing books.
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Book cover of Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor

William J. Poorvu Author Of The Real Estate Game: The Intelligent Guide to Decisionmaking and Investment

From my list on real estate and wealth-building.

Why am I passionate about this?

Bill Poorvu is a successful real estate investor and developer who for 35 years headed the real estate program at Harvard Business School, where he taught several generations of students, many of whom went on to become industry leaders. He is also one of the founders of the Baupost Group, a Boston-based investment firm that is considered one of the savviest hedge funds in the world, with some $30 billion in assets under management.

William's book list on real estate and wealth-building

William J. Poorvu Why did William love this book?

If you are now in a position to invest your money broadly. Margin of Safety presents legendary investor Seth's Klarman's views on risk-adjusted investments in several asset classes, including real estate. He focuses on understanding the underlying values of a specific opportunity, and his consistent emphasis on taking the longer-term view is especially relevant to the property world. Now I will frustrate you by reporting that MOS is long out of print, and the used copies that are available online are...very, very expensive. If you can’t find it or afford it, look for Seth’s interviews on YouTube, and a short but interesting New Yorker interview.

By Seth A. Klarman,

Why should I read it?

1 author picked Margin of Safety as one of their favorite books, and they share why you should read it.

What is this book about?

Investors are all too often lured by the prospect of instant millions and fall prey to the many fads of Wall Street. The myriad approaches they adopt offer little or no real prospect for long-term success and invariably run the risk of considerable economic loss - they resemble speculation or outright gambling, not a coherent investment program. But value investing - the strategy of investing in securities trading at an appreciable discount from underlying value - has a long history - has a long history of delivering excellent investment results with limited downside risk. Taking its title from Benjamin Graham's…


Book cover of One Up on Wall Street: How to Use What You Already Know to Make Money in the Market

Gautam Baid Author Of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning

From my list on value investing from a longtime investor.

Why am I passionate about this?

I am the Founder of Stellar Wealth Partners, a SEBI-registered Research Analyst firm and small case manager for investors in the Indian stock market. I am the author of the international best-seller on value investing, The Joys of Compounding. Once a strong foundation is created for a business, owners don’t work for money. Rather, money works for them. As an investor, your money is working for you 24/7. You are becoming wealthier with each passing second, alongside the increasing intrinsic value of your businesses. An investor builds earnings power through a business ownership mindset. 

Gautam's book list on value investing from a longtime investor

Gautam Baid Why did Gautam love this book?

In this book, Peter Lynch teaches how a common investor can get great returns from his investment in the stock market if he follows a few general investing principles and a common-sense investing approach. Lynch believes that with a little research and steady discipline, every common person can outperform the so-called investment gurus and make good returns. He suggests that many great investments could be right under their nose, if the investor is ready to do some research. Most people just have to look around the place where they work or the spots where they visit to grab those opportunities. A common person is exposed to many interesting local companies and products years before professional investors would even hear of them. If these investors find and invest in these growing local companies, they can make handsome returns.

By Peter Lynch, John Rothchild,

Why should I read it?

1 author picked One Up on Wall Street as one of their favorite books, and they share why you should read it.

What is this book about?

Peter Lynch believes that average investors have advantages over Wall Street experts. Since the best opportunities can be found at the local mall or in their own places of employment, beginners have the chance to learn about potentially successful companies long before before professional analysts discover them. This headstart on the experts is what produces 'tenbaggers', the stocks that appreciate tenfold or more and turn an average stock portfolio into a star performer. In this fully updated edition of his classic bestseller, Lynch explains how to research stocks and offers easy-to-follow directions for sorting out the long shots from the…


Book cover of The Intelligent Investor

Darius Foroux Author Of The Stoic Path to Wealth: Ancient Wisdom for Enduring Prosperity

From my list on investing for beginner and intermediate investors.

Why am I passionate about this?

I’m Darius Foroux (pronounced Dare-eus For-oe), and thanks for exploring my recommendations. As a former mutual funds advisor, I understand the complexity of finance, a lesson driven home when I lost two-thirds of my investment in 2007. Not wanting to repeat my costly mistakes, I earned degrees in business and finance, launched a business, and continuously educated myself on investing. The biggest thing I learned? Investing and wealth-building aren’t logical but emotional. I'm passionate about helping others achieve financial independence and live on their terms. My book empowers you to manage your emotions, build wealth, and enjoy life, regardless of the stock market's ups and downs.

Darius' book list on investing for beginner and intermediate investors

Darius Foroux Why did Darius love this book?

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.

By Benjamin Graham,

Why should I read it?

4 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…


Book cover of You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits

Gautam Baid Author Of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning

From my list on value investing from a longtime investor.

Why am I passionate about this?

I am the Founder of Stellar Wealth Partners, a SEBI-registered Research Analyst firm and small case manager for investors in the Indian stock market. I am the author of the international best-seller on value investing, The Joys of Compounding. Once a strong foundation is created for a business, owners don’t work for money. Rather, money works for them. As an investor, your money is working for you 24/7. You are becoming wealthier with each passing second, alongside the increasing intrinsic value of your businesses. An investor builds earnings power through a business ownership mindset. 

Gautam's book list on value investing from a longtime investor

Gautam Baid Why did Gautam love this book?

The book outlines an array of “special situations” that may offer very profitable opportunities, i.e. bankruptcies, restructurings, merger securities, and spinoffs, among others. Greenblatt underscores the importance of a set of basic ‘rules’ when delving into the universe of special situations: do your own work, don’t trust anyone, pick your spot and assess the downside, not the upside. The basic premise of the book is that it pays off to search for areas where there is a high probability of finding undervalued equities. You can make a lot of money sticking to the tried-and-true method of investing in and holding good companies for many years. However, if you are a more experienced investor looking for other areas to invest part of your portfolio in, this book will give you several new places to explore.

By Joel Greenblatt,

Why should I read it?

1 author picked You Can Be a Stock Market Genius as one of their favorite books, and they share why you should read it.

What is this book about?

A comprehensive and practical guide to the stock market from a successful fund manager—filled with case studies, important background information, and all the tools you’ll need to become a stock market genius.

Fund manager Joel Greenblatt has been beating the Dow (with returns of 50 percent a year) for more than a decade. And now, in this highly accessible guide, he’s going to show you how to do it, too. You’re about to discover investment opportunities that portfolio managers, business-school professors, and top investment experts regularly miss—uncharted areas where the individual investor has a huge advantage over the Wall Street…


Book cover of IP Valuation for the Future: Trends, Techniques, and Case Studies

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?

In our increasingly technology-dependent economy, business value and the value of intellectual property (IP) intersect like never before. That’s why understanding how to value patents (both individual patents and patent portfolios), trademarks, and copyrights are essential skills to those serious about discerning business value in the 21st century. Mr. Anson includes a good discussion of the best IP valuation methods and the case studies are especially instructive. 

By Weston Anson,

Why should I read it?

1 author picked IP Valuation for the Future as one of their favorite books, and they share why you should read it.

What is this book about?

In today's economic landscape, there is a growing awareness of intellectual property and its value at all levels. IP Valuation for the Future looks at all matters related to IP value, whether the value is in a transaction, litigation, or other context. This guide provides a valuation overview for attorneys who need a basic grounding in the principles and financial standards of IP valuation along with a basic review of the core attributes, categories, and permutations of various IP.
In addition, this is a helpful resource for bankers, financial professionals, venture capitalists, and other professionals. It also serves as an…


Book cover of Common Stocks and Uncommon Profits and Other Writings

Gautam Baid Author Of The Joys of Compounding: The Passionate Pursuit of Lifelong Learning

From my list on value investing from a longtime investor.

Why am I passionate about this?

I am the Founder of Stellar Wealth Partners, a SEBI-registered Research Analyst firm and small case manager for investors in the Indian stock market. I am the author of the international best-seller on value investing, The Joys of Compounding. Once a strong foundation is created for a business, owners don’t work for money. Rather, money works for them. As an investor, your money is working for you 24/7. You are becoming wealthier with each passing second, alongside the increasing intrinsic value of your businesses. An investor builds earnings power through a business ownership mindset. 

Gautam's book list on value investing from a longtime investor

Gautam Baid Why did Gautam love this book?

There are in general two approaches to accumulating wealth in the stock market. One is to time the market, buying stocks when they are cheap, and selling when they are expensive. The other is to find outstanding companies and hold them for the long term. Fisher prefers the latter. He recommends that investors should focus on finding stocks that have the highest profit compared to risk. The public often misinterprets this as meaning stocks that are the most undervalued, rather than those with prospects for the highest growth for the longest duration. High growth over many years outweighs the advantages of an undervalued stock with no growth potential due to compounded returns.

By Philip A. Fisher,

Why should I read it?

1 author picked Common Stocks and Uncommon Profits and Other Writings as one of their favorite books, and they share why you should read it.

What is this book about?

Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today's financiers and investors, but are also regarded by many as gospel. This book is invaluable reading and has been since it was first published in 1958. The updated paperback retains the investment wisdom of the original edition and includes the perspectives of the author's son Ken Fisher, an investment guru in his own right in an expanded preface and introduction "I sought out Phil Fisher after reading his Common…


Book cover of Valuing a Business: The Analysis and Appraisal of Closely Held Companies

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?

Aside from valuing businesses for investment purposes, I am a practitioner of the valuation of private (or “closely held”) businesses. In my profession of business valuation, the late Shannon Pratt is widely recognized as one of the leading gurus, not least because of the six editions of Valuing a Business. I recommend this book here because, if one can master even a few of the rigorous business valuation methods detailed in this book, that will elevate one’s value investing skills tremendously. The previous books all set the stage and offer enough practical advice for one to progress from beginner to intermediate but, for those eager to master business valuation and, therefore, the determination of intrinsic value, Valuing a Business would be the next logical step. 

By Shannon P. Pratt, Alina V. Niculita,

Why should I read it?

1 author picked Valuing a Business as one of their favorite books, and they share why you should read it.

What is this book about?

Capitalize on All the Latest Legal, Financial, and ComplianceInformation Needed to Analyze and Appraise Any Business

For over 25 years, Valuing a Business has provided professionals and students with expert business valuation information, offering clear, concise coverage of valuation principles and methods. Over the decades, the book's unsurpassed explanations of all valuation issues have made it the definitive text in the field, against which every other business valuation book is measured.

Now updated with new legal, financial, and compliance material, the Fifth Edition of Valuing a Business presents detailed answers to virtually all valuation questions_ranging from executive compensation and lost…


Book cover of Stocks for the Long Run: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies

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 loved this book because it is well-written and presents 200+ years of stock market history in a clear and compelling fashion.

This book helped me to understand the value of buying and holding stocks for the long term. I appreciated the thoroughness and objectivity that the professor who wrote this book brings to the table.

By Jeremy Siegel,

Why should I read it?

3 authors picked Stocks for the Long Run as one of their favorite books, and they share why you should read it.

What is this book about?

The stock-investing classic--UPDATED TO HELP YOU WIN IN TODAY'S CHAOTIC GLOBAL ECONOMY

Much has changed since the last edition of Stocks for the Long Run. The financial crisis, the deepest bear market since the Great Depression, and the continued growth of the emerging markets are just some of the contingencies directly affecting every portfolio inthe world.

To help you navigate markets and make the best investment decisions, Jeremy Siegel has updated his bestselling guide to stock market investing.

This new edition of Stocks for the Long Run answers all the important questions of today: How did the crisis alter the…


Book cover of Capital Returns: Investing Through the Capital Cycle: A Money Manager's Reports 2002-15

Guy Thomas Author Of Free Capital: How 12 private investors made millions in the stock market

From my list on making a fortune in the stock market.

Why am I passionate about this?

I’ve been an independent investor for nearly 25 years. In my previous life as an employee, I was a research actuary for a firm of pension consultants, and then a university lecturer. I left my last academic job at the age of 35 because I had made enough money to survive, and freedom was worth more to me than a salary. FIRE (Financial Independence – Retire Early) is what it’s called these days, but with two differences. First, I’m not retired: I spend most of my time on investing, but entirely on my own terms. Second, and relatedly, I’m an active investor, albeit a cheap one, nearly as cheap as an index fund.

Guy's book list on making a fortune in the stock market

Guy Thomas Why did Guy love this book?

This book comprises an edited compendium of investment reports from Marathon Investment Management, with three broad themes.

First, stock markets are about capitalism, not macroeconomics.

Second, successful investment requires an understanding of the relative size and composition of supply, demand, production, and consumption. You need to compare heterogeneity, fragmentation, and growth (positive or negative) on both sides of a company’s market.

Third, pay attention to the capital cycle. Seek out sectors from which investors’ capital and attention are being withdrawn, and be wary of sectors which are attracting increasing capital and attention.

By Edward Chancellor (editor),

Why should I read it?

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

What is this book about?

We live in an age of serial asset bubbles and spectacular busts. Economists, policymakers, central bankers and most people in the financial world have been blindsided by these busts, while investors have lost trillions. Economists argue that bubbles can only be spotted after they burst and that market moves are unpredictable. Yet Marathon Asset Management, a London-based investment firm managing over $50 billion of assets has developed a relatively simple method for identifying and potentially avoiding them: follow the money, or rather the trail of investment. Bubbles whether they affect a whole economy or merely a single industry, tend to…


Book cover of Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor
Book cover of One Up on Wall Street: How to Use What You Already Know to Make Money in the Market
Book cover of The Intelligent Investor

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