Last Update: August 2021

“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads—and at how much I read.”

Charlie Munger —

My trading obsession kicked off in earnest in 2005 which was incidentally the year Mad Money began airing. The mad man himself, Jim Cramer, was more than a little entertaining at first. I didn’t watch the show for stock picks, I watched for an education. I wanted to know how the pros talked about stocks. I wanted to expand my vocabulary and learn how to better articulate my viewpoints. I still have the notepad I used at the time to jot down my findings.

I signed up for trials to the Wall Street Journal and Investors Business Daily and poured through them each day to discover how to write about investments. I still have the clippings of my favorite articles. While I don’t watch any financial television these days, or subscribe to WSJ or IBD, they provided an effective way for diving headfirst into the world of Wall Street to learn the ropes.

Nowadays reading provides the raw materials for the idea factory in my head. Over the years my library has grown as I’ve added dozens of interesting books to the shelves. Some are unique. Others simply repackage old principles in new wrapping paper. Since redundancy abounds in trading books I thought I’d use today’s post to share some of my favorites (in no particular order).

Stocks for the Long Run by Jeremy Siegel

The subtitle reads, “The Definitive Guide to Financial Market Returns and Long-term Investment Strategies.” The book is a veritable treasure trove of data. You’ll learn the history of the stock market, economic influences on stock prices, and how stocks stack up against other asset classes.

Simple Wealth, Inevitable Wealth by Nick Murray

This short book paints a compelling picture for stocks in a portfolio. It’s straightforward and helps you understand the perspective of some financial planners and investment advisors. After reading it you’ll think not buying stocks is the dumbest thing in the world.

Technical Analysis Using Multiple Time Frames by Brian Shannon

The study of technical analysis has spawned a legion of books. Most of them are redundant. I had to read my fair share in order to acquire the CMT designation. Some are lengthy beasts written decades ago replete with black and white bar charts. I like Brian’s book for a couple of reasons. First, it’s short and can be digested in short order. Second, it does a great job in highlighting why technical analysis is helpful and, more importantly, how to use it properly. I guarantee you’ll learn a few new tricks. Be forewarned the book is the priciest of the bunch.

The Rookie’s Guide to Options by Mark Wolfinger

This is my top pick for beginning to intermediate option traders.

Options Volatility and Pricing by Sheldon Natenberg

This is my top pick for intermediate to advanced option traders. I’ve used it as a reference guide along with Lawrence McMillan’s Options as a Strategic Investment when writing option manuals and creating option courses.

As I come across others worthy of mention I’ll bring them up in future posts.

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