Great books share three things in common, according to the late scholar J. Rufus Fears. They tackle great themes, they’re written in noble language, and they resonate with a universal readership spanning time and place.
We surveyed over a dozen members of our global network of specialized asset managers, and our own executive team, to compile a list of 18 of the best investing books for your 2018 reading list. They follow below, in alphabetical order, by the recommender's last name. We hope you gain insight and pleasure from these timeless—and timely—investment titles when your schedule allows. Happy reading.
Execution: The Discipline of Getting Things Done, by Larry Bossidy and Ram Charan (2002)
Country Driving: A Chinese Road Trip, by Peter Hessler (2010)
Extraordinary Popular Delusions and the Madness of Crowds, by Charles Mackay (1841)
Exponential Organizations: Why new organizations are ten times better, faster, and cheaper than yours (and what to do about it), by Salim Ismail, with Michael S. Malone and Yuri van Geest (2014)
Lords of Finance: The Bankers Who Broke the World, by Liaquat Ahamed (2009)
When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany, by Adam Fergusson (2010)
F.I.A.S.C.O.: Blood in the Water on Wall Street, by Frank Partnoy (1997)
Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing, by Hersh Shefrin (2002)
Security Analysis: The Classic 1934 Edition, by Benjamin Graham and David Dodd (1934)
The Black Swan: The Impact of the Highly Improbable, by Nassim Nicholas Taleb (2007)
The New Finance: The Case Against Efficient Markets, by Robert A. Haugen (1995)
Nudge: Improving Decisions About Health, Wealth, and Happiness, by Richard H. Thaler and Cass R. Sunstein (2008)
The Fama Portfolio: Selected Papers of Eugene F. Fama, edited by John H. Cochrane and Tobias J. Moskowitz (2017)
The Investment Answer: Learn to Manage Your Money & Protect Your Financial Future, by Daniel C. Goldie, CFA, CFP, and Gordon S. Murray (2010)
The Rational Optimist: How Prosperity Evolves, by Matt Ridley (2010)
No One Would Listen: A True Financial Thriller, by Harry Markopolos (2010)
Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment, by David F. Swensen (2000)
The Most Important Thing: Uncommon Sense for the Thoughtful Investor, by Howard Marks (2011)
Investing involves risks, including the potential loss of principal. A portfolio concentrated in one sector or that holds a limited number of securities may fluctuate more than a diversified portfolio.