At Five Books we have an extremely sceptical attitude to financial advisers and believe that with the right tools, people can invest for themselves. Much of the fight is against transaction costs and fees, so buy and hold is typically the best approach.
Many of the books and interviews below on how to invest lay out that approach to investing in greater detail. There is one clear book to start on any journey towards knowing more about investing, which is Burton Malkiel’s A Random Walk Down Wall Street, first published in 1973. Markets may not be as efficient as Malkiel makes out, but as British economist John Kay points out, you need to understand his argument before you can understand anything.
Marc Faber, the infamous investor known as “Dr Doom”, discusses books he considers indispensable for those interested in investment. He stresses the importance for investors to be historically aware, and holds that Irving Fisher is one of the best economists of the 20th century.