Andrew’s Investment Book Suggestions

Andrew's Book Suggestions

These sixteen investment books have been handpicked for my readers. There are seven books for those just taking their first look into investing; six intermediate level books for those who want to learn more, and finally, three more advanced books for those who want a deeper understanding of investing.

Beginning Books for Novice Investors

These are the books recommended for people who have never read an investment book before. But don’t mistake simplicity for something substandard. Following the strategies espoused in these books will, after all taxes and costs, have you beating at least 90% of professional money managers over your investment lifetime. That’s a fact.

The cover of the book - Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School by Andrew HallamHere's the secret that most financial advisors and Wall Street firms don't want you to know. Peer-reviewed, financial academic studies say you can beat most investment professionals with a simple strategy. It takes just an hour a year.

You don't need to search for a bunch of hot stocks or winning mutual funds. You don't need to pay attention to investment news, economic trends, or the market ups and downs. Nobel Prize winners in economics have been saying this for years. Warren Buffett echoes it. Andrew Hallam brings it all to life with Millionaire Teacher, Second Edition.

With clarity and humor, Andrew shows how any patient, middle-class income earner can build a million dollar investment portfolio. He provides a guide for Americans, Canadians, Australians, Singaporeans, and British investors. You can spend responsibly, invest effectively, and build a solid financial future. Let Millionaire Teacher, Second Edition show you how.

millionaire expat - how to build wealth living overseas by andrew hallam - book coverFew expats realize how much they're giving up when they choose to work abroad. Financial salespeople abroad often slither into expat workplaces. They cold-call you at home. They e-mail you at work. They sell the worst financial products in pursuit of huge commissions. Millionaire Expat shows how to avoid such snakes.

Whether you're from the United States, Canada, United Kingdom, Australia, New Zealand, South Africa, South America, Ireland, Europe, or Asia, Millionaire Expat has a tailored portfolio for you. But many people are terrified to invest on their own. If that describes you, there's no need to worry. Millionaire Expat also shows how to find the right kind of advisor. These aren't the typical, financial snakes in suits. These are certified experts, trained to follow the principles that are outlined in this book.

You don't need a massive income to build the retirement you deserve. Let Millionaire Expat be your guide

(1st edition was originally titled - The Global Expatriate's Guide to Investing: From Millionaire Teacher to Millionaire Expat)

In an easy-to-read conversational voice, financial planner Bill Schultheis proves why he’s considered one of the heroes of the financial service industry.

Promoting a low cost, index fund solution to investing, he guides his readers as if he’s your affable neighbour, explaining the process over coffee.

You can enjoy this book from cover to cover in a single afternoon.

I’ve gifted many copies of this book at my index fund seminars.

You’ll like this book.

Paul Farrell ably introduces this book as something his wife encouraged him to write.

As a women “whose eyes usually glaze over” when he starts to talk finance, you get the idea, right away, that Dr. Farrell’s book is aimed at a broad audience, peppered with a fun writing style that’s missing in the vast majority of personal finance books.

His message is the same as Bill Schultheis’ but his voice is a tad cheekier.

This could be the first and only investment book you’ll ever have to read.

Cheekier still, but every bit as good, is Daniel Solin’s book, The Smartest Investment Book You’ll Ever Read.

This immodestly titled book is comprised of only 154 pages, and this leading securities arbitration lawyer guides readers to see that again, index fund investing gives the highest statistical chances of success.

With a spacious format, it’s another book you can read in an afternoon while learning how the industry of actively managed mutual fund investing is rigged against the average investor.

Like The Lazy Person’s Guide to Investing and The New Coffeehouse Investor, it’s going to make you smile from time to time, if you don’t chuckle out loud.

The Elements of Investing

by Burton G. Malkiel & Charles D. Ellis

Perhaps the shortest book of them all, The Elements of Investing was written by investment legends Burton Malkiel and Charles Ellis.

As the bestselling authors of A Random Walk Down Wall Street (Malkiel) and Winning the Loser’s Game (Ellis) they’ve teamed together to produce an investment book that’s far simpler to understand than either of their former masterpieces.

From what I’ve learned, giving financial seminars, the average person has difficulty understanding terms and jargon that most financial writers take for granted.

As great as both of these gentlemen’s other books are, this one is far easier for the average reader to understand.

I bought this book as a gift, initially, but then I had to buy two.

I simply couldn't give the original book away and be left without a copy myself.

It's a fabulous read for new investors.

The author, Allan S. Roth, does his readers a wonderful service.

Books for Intermediate Readers

These are my favorite intermediate level investment books.

I enjoyed Larry Swedroe’s book, The Only Guide to a Winning Investment Strategy You’ll Ever Need.

As the title suggests, I think he’s right, although it’s slightly more academic than the previous four books I mentioned.

After reading one of the four books I listed above, if you’re still not convinced, and/or you want more meat, then this could be the book for you.

Written in 2005, it has the qualities of a great book—because it’s timeless.

Read this book twenty years from now, and the theory behind it will remain the same: solid, academically rigorous, relevant and accessible to the average reader.

Swedroe’s book, The Quest For Alpha: The Holy Grail of Investing is a fabulously convincing read.

If you’re still not convinced that index funds offer much higher statistical chances of success, compared to the expensive products peddled by most financial advisors, then this book will very likely change your mind.

Written by a man named by Fortune Magazine as one of the four investment giants of the 20th century, Bogle packs a powerful punch with this little 214 page book.

Showing how index funds are superior investment vehicles, he loads the book with evidence and experience drawn from more than 50 years in the investment field.

I’ve gifted more than 40 copies of this little book to my colleagues, but I’ve listed it under “intermediate” as a reader, because it has terms that many of my college educated colleagues couldn’t understand, and it had my dad (a fairly well-read fella) running for the dictionary a number of times.

Bogle is an academic. But he’s brilliant, a clear writer, and he’s definitely fighting for the little guy.

Written by the legendary finance writer, William Bernstein, both these books both give an extremely solid investment foundation.

If we were to ask Mr. Bernstein himself, he’d probably suggest that we read The Four Pillars of Investing first, and The Investor’s Manifesto second.

In the first book, he thoroughly discusses how people madly become euphoric when fad-like investments rise in value without solid fundamentals to back them up.

In Bernstein's second book, The Investor’s Manifesto, he shows how the same emotional madness can sabotage investor’s accounts when the markets drop in value.

What’s more, he does it with an ever-improving flair for imagery and humour:

“Your primary training tool is the rebalancing process, which forces you to sell high in the good years and to buy low when there is blood in the streets. In the really bad years, such as 2008-2009, this will mean pouring large amounts into falling equities, when your friends and family are running around like decapitated poultry.”

Both of these books, of course, promote indexed investing as well.

The Bogleheads' Guide to Investing

by Taylor Larimore, Mel Lindauer, Michael LeBoeuf,
and foreword by John C. Bogle

The Bogleheads’ Guide to Investing is a slightly irreverent, straightforward guide to investing.

Probably best for intermediate investors, this book assumes some basic financial knowledge.

But it's an impressive read by a few millionaire senior citizens who are leaving a useful legacy.

Books for Advanced Readers

These are my favorite advanced level investment books, but unlike some of the books above, they aren’t entertaining for the average investor. And that’s fine. Investing isn’t meant to be fun. The same message is here that you can read about in Millionaire Teacher, but the evidence here is simply awe-inspiring.

For the most extensively researched books on indexed investing, nothing really compares with John Bogle’s updated 10th anniversary edition of Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor.

What’s interesting is that David Swensen, Yale University’s endowment fund manager, didn’t intend to write his book, Unconventional Success, about indexed investing.

But the more he researched, the more he realized that the financial service industry exploited individual investors. His book offers a fabulous solution to that problem.

The Essays of Warren Buffett: Lessons for Corporate America

by Warren E. Buffett. Lawrence A. Cunningham (Editor)

For advanced investment readers, The Essays of Warren Buffett is a compilation of essays written by the Oracle of Omaha and arranged by Lawrence Cunningham.

If you want to know how the great Berkshire Hathaway chairman thinks, Cunningham has arranged Buffett's essays beautifully.