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Recommended financial books

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We read, a lot. Here are a few books we’ve found particularly helpful:

The best book we’ve seen on kids and money. It is the ultimate guide to allowances and teaching your kids to make good decisions about spending and saving. Authored by a staff writer for The New Yorker, this book is an easy and fun read.

This is a classic book on stocks and how to pick them and not pick them. The book is now in its gazillionth edition. It tries for accessibility and partially succeeds.

The best reason to read the book is for the section Malkiel includes near the end of each edition where he makes a longish term prediction based on current market fundamentals.

He’s always right.

These two books are authored by the guy who is largely responsible for achieving outrageously good investment returns for the Yale endowment.

The first is his “how to” on asset class based portfolio management, targeted to managers of large institutional funds. It has a lot of great information on specific asset classes and how to determine allocations to specific types of investments.

The second book was intended to be a guide for individuals who wanted to be like Yale with their own portfolios. He ends up recommending a portfolio of Vanguard index funds, not at all what Yale does.

It turns out that the investment world deck of cards is stacked against anyone with less than $1 billion. What is most amazing is that he did not realize this until he was actually writing the book for retail investors. Enjoy his shock and horror at the realities of today’s investment scene.

Topics: Investments, Kids and money | Comments Off on Recommended financial books

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