Are you a stock market beginner hunting for the best book on share market mastery to launch your investment journey? While there are several online resources available, we’re all tired of the scrolling and distractions that result in our precious attention spans going for a toss!
Good old books, the real ones, offer credible and distraction-free information to consume at your own pace anytime, anywhere. Between pages, you find in-depth coverage from reputed authors and renowned experts in their field. Your quest for the best book on share market ends here. Here’s a list of not one, but, fifteen best books for share market beginners and enthusiasts to gain sharper insights and earn better returns.
15 Best Books for Share Market
1. Rich Dad Poor Dad
This bestseller by Robert Kiyosaki is considered the best book for share market among stock market beginners. Kiyosaki talks about simple concepts for managing personal finance, gaining financial independence and building wealth. The book explains why you must build assets over amassing liabilities and the merits of entrepreneurship. He quotes his personal journey to validate how you can make your money work, rather than work for money all your life. A good, light read to begin your stock market reading.
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2. The Richest Man in Babylon
This is a classic piece of timeless, pragmatic wisdom about the basics of money that people have lived by for ages. Simple, sensible advice like controlling expenses, saving part of your income, investing to multiply wealth, building a retirement corpus, and cultivating money-making skills as fundamental principles to live by, are explained in this concise book. Pick it up for a quick, comforting read. Children and adults, both can enjoy this book.
3. The Intelligent Investor
The Intelligent Investor is considered a bible of investing for any stock market investor. It was written in 1949 by Benjamin Graham, famed American economist and legendary investment advisor, known as the father of value investing and also a mentor to Warren Buffett. Graham elucidated the concept of finding fundamentally strong stocks at attractive valuations. He advised investors to overlook short-term price trends and focus on undervalued stocks with intrinsic value. This is one of the most widely read, and undoubtedly, among best books for share market.
4. One Up On Wall Street
Peter Lynch is known to be one of the most successful investors in history. In this book, he explains how anyone can begin investing in stock markets even without following any complicated strategies. In his view, stock investing doesn’t require advanced know-how, but a simple approach and process to pick the right stocks. He also talks about investor psychology, willingness to learn, admit mistakes, and guard against impulse or gut feeling based decisions, as factors crucial for success. This book challenges many theories you hear about stock investing, a must-read for everyone.
5. Buffett: The Making of an American Capitalist
Written in 1954 by Robert Lowenstein, a Wall Street journalist, this book chronicles Warren Buffet’s life and offers the reader a peek into his investment style that catapulted him into the iconic stock market wizard and world’s richest. If you want to know how the greatest investor of our time spends his day, what his philosophies and beliefs are, his investing style, and how it evolved, this is an interesting biography.
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6. The Psychology Of Money
A classic by Morgan Housel, an award-winning author, this bestseller delves into the human aspects of decision-making when it comes to money and investments. The author says that humans are complex beings and decision-making is not always a rational or data-based process. Often factors like biases, personal behaviours, emotions, and experiences colour financial decisions. The book throws light on the role of one’s psyche in financial outcomes and how copybook case studies don’t fall true in reality. Read it and you’ll end up learning a lot more than just investments.
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7. The Warren Buffett Way
In this book, Robert G. Hagstrom chronicles the methods, principles, and philosophies that made Warren Buffett one of the greatest icons in the investing world. Buffett’s core strategy of long-term value investing and buying into winning businesses, not just stocks, is discussed in detail with financial analysis of some of his investments. Must read for any serious long-term stock investor.
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8. The Alchemy of Finance
A classic by George Soros, a successful trader and investor in the 1930s, this book goes beyond stocks and strategies. It deep dives into financial markets and proposes innovative theories about market behaviour and participants. You can acquire great insights that look above conventional wisdom. For example, the theory of reflexivity observes how market players’ perceptions shape the markets and ultimately steer markets in the opposite direction. An enlightening read if you want to broaden your perspective beyond popular theories, numerical analysis or run-of-the-mill investment advice.
9. Common Stocks Uncommon Profits
Penned by renowned investor Philip Fisher, this is another classic gem to arm yourself with thorough knowledge of fundamental and qualitative analysis for long-term investing. Some of the themes you can read about are how to find mature businesses with significant moat, robust business model, high profit margins and holding them without giving in to the temptation of cashing in too early.
10. Security Analysis
Written in 1930 by Benjamin Graham and David L Dodd, the book highlights the importance of analysing and ascertaining the value of the underlying business over the price of a stock, market trends or favourites. It lays emphasis on the fact that any strategy in the market must not risk the safety of principal and returns over speculative gains. Do pick it to strengthen your grip on the basics of value investing.
11. The Black Swan
Author and former options trader Nassim Taleb coined the term Black Swan for highly unpredictable events that can completely change the course of anything with tremendous consequences. The book talks about the human tendency to look for patterns in hindsight and find simplistic explanations for such events. He urges readers to look deeper and not trust predictive models or expert-speak blindly. An outlier among business books, it makes a perfect pick for an offbeat reading that holds true not just in investing, but, in other areas as well.
12. How to Make Money in Stocks
Written by Parag Parikh, a well-known equity investor and founder of mutual fund house PPFAS, this book is a primer on the basics of investing in the stock markets. A good pick for beginners who are taking baby steps towards investing, this book is helpful to demystify concepts like investor psychology and behaviour, value investing, fallacies of following the herd mentality, loss aversion mindset, and situations investors often face in their investing journey. He explains these concepts with the help of practical and relatable examples. An interesting and practical read for anyone looking for Indian stock market books.
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13. Coffee Can Investing
Popular for its innovative name and concept, Coffee Can Investing is a popular Indian stock market book. It theorises a simple and effective route to investing in markets with a buy-and-forget philosophy. The author advises investors to pick stocks sensibly and outlines a simple framework to evaluate stocks using qualitative analysis, and valuation techniques with practical case studies. Great pick for new investors looking for long term wealth creation and peace of mind.
14. Let’s Talk Money
Monika Halan, a senior financial journalist and advisor to SEBI offers pragmatic advice on managing personal finance. Unlike other investment books that promise returns or magical get-quick-rich methods, Halan takes a bottom-up approach to build a successful life by developing long-term habits and a robust framework to make your hard-earned money work harder. She covers the entire gamut of personal finance, right from saving, asset allocation, asset classes, insurance, retirement, and inheritance. This Indian stock market book for beginners explains mutual funds and equities well to guide readers towards wealth creation.
15. How to Avoid Loss and Earn Consistently in the Stock Market – Presenjit Paul
In this simple and practical guide to stock market investing, the author simplifies the very basic dilemmas that new investors often face. How to not get overwhelmed by exotic terms and begin with basics. The book takes you through the process of picking winning stocks, metrics you should not ignore, identifying great business and management, understanding valuation and common mistakes to be avoided.
Conclusion
If you want to up your game in investments or stock markets, there is no sure-shot formula other than continuous learning and developing a wider skill set. While there are easily available online resources, there is no substitute for a good book to immerse yourself in.
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