Over the years I’ve read dozens of books on investing, finance and psychology.
These are the five I keep coming back to. They’ve shaped the way I think about markets… and how I invest my own money. I recommend them to anyone who wants to become a better investor.
Whether you’re just starting out or looking to sharpen your strategy, these books will give you the tools, mindset and confidence to stay on track. They’re not about hot tips or getting rich quick. They’re about building real wealth over time and keeping it.
Winning the Loser’s Game (7th Edition) by Charles D. Ellis
Ellis explains why trying to beat the market is often a loser’s game. Most investors underperform because they chase short-term wins, not long-term results. He breaks down the evidence behind passive investing and shows how you can avoid the common traps that trip up even the pros. I was so inspired by Charlie’s wisdom that we named our first son after him!
Key lesson:
Successful investing is about discipline, not outsmarting the market.
Best for:
Intermediate investors
Favourite quote:
“In investing, activity is almost always in surplus.”
The Little Book of Common Sense Investing by John C. Bogle
John Bogle, founder of Vanguard, lays out the case for low-cost index investing in plain English. He shows how fees eat into your returns… and why most investors are better off ignoring forecasts, fads and fund managers.
Key lesson:
The lower the cost, the greater the share of market returns you keep.
Best for:
Beginner investors
Favourite quote:
“Don’t look for the needle in the haystack. Just buy the haystack!”
The Psychology of Money by Morgan Housel
This is a book about how people actually behave with money… not how we should. Housel shares short, powerful stories that explain why our emotions, upbringing and experiences shape financial decisions more than logic ever could.
Key lesson:
Wealth is built through patience, humility and avoiding big mistakes.
Best for:
Beginner investors
Favourite quote:
“Spending money to show people how much money you have is the fastest way to have less money.”
A Random Walk Down Wall Street by Burton G. Malkiel
Malkiel takes you through the history of the markets… bubbles, crashes, fads and all. He debunks common myths, like the idea that you can reliably pick winning stocks. The takeaway? A simple, low-cost, diversified strategy is your best bet.
Key Lessons:
Markets are mostly efficient. You’re better off following the trend than fighting it.
Best for:
Intermediate investors
Favourite quote:
“A blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by experts.”
Thinking, Fast and Slow by Daniel Kahneman
Kahneman reveals how we think in two speeds… fast, instinctive thinking and slow, logical thinking. The fast system often leads to biased decisions. That includes how we judge risk, value and probability. It’s not an investing book per se, but it explains a lot of the mistakes people make with money.
Key Lessons:
Knowing how your brain works helps you avoid emotional decisions that can sabotage your financial goals.
Best for:
Intermediate to advanced investors
Favourite quote:
“Nothing in life is as important as you think it is, while you are thinking about it.”
What about you? Got a favourite investing book that’s shaped the way you think? I’d love to hear what’s inspired your investing journey too.
Email me at Chris.Brycki@stockspot.com.au or reach out to me on social media.
