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I am often asked which investing books investors should read. There are tones of academic works out there, but the following are good places to start:
Paul Farrell – The Lazy Person’s Guide to Investing: A Book for Procrastinators, the Financially Challenged, and Everyone Who Worries About Dealing With Their Money
Burton Malkiel and Charles Ellis. The Elements of Investing
Larry Swedroe. The Only Guide to an Investment Strategy You’ll Ever Need
Larry Swedroe. The Quest For Alpha: The Holy Grail of Investing
John Bogle, The Little Book of Common Sense Investing : Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)
William Bernstein. The Four Pillars of Investing: Lessons for Building a Winning Portfolio
John Bogle – Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor
John Bogle’s “The Clash of the Cultures”
David Swensen, Unconventional Success: A Fundamental Approach to Personal Investment
Lawrence Cunningham. The Essays of Warren Buffett: Lessons for Corporate America, Second Edition
“Security Analysis” by Benjamin Graham
Benjamin Graham’s “Intelligent Investor.”
Carl Richards, The Behavior Gap, Simple Ways to Stop Doing Dumb Things with Your Money.
Thinking Fast and Slow, Daniel Kahneman
Extraordinary Popular Delusions and The Madness of Crowds, Charles Mackay.
The Essays of Warren Buffett
For more academic work on how the 4% rule works in practice, I would recommend the following:
Sustainable Withdrawal Rates From Your Retirement Portfolio, by Philip L. Cooley, Carl M. Hubbard and Daniel T. Walz – http://afcpe.org/assets/pdf/vol1014.pdf
Other academic books to look at include:
Bengen, W. P. (1994). Determining withdrawal rates using historical data. Journal of Financial Planning, 7(1), 171-180.
Bengen, W. P. (1996). Asset allocation for a lifetime.Journal of Financial Planning, 9(3), 58-67.
Bengen, W. P. (1997). Conserving client portfolio during retirement, part III. Journal of Financial Planning, 10(5), 84-97.
Bierwirth, L. (1994). Investing for retirement: using the past to model the future. Journal of Financial Planning, 7(1), 14-24.
Cooley, P. L., Hubbard, C. M. & Walz, D. T. (1998). Retirement spending: choosing a sustainable withdrawal rate. Journal of the American Association of Individual Investors, 20(2), 16-21.
Ferguson, T. W. (1996). Endow yourself. Forbes, 157(12), 186-187.
Ho, K., Milevsky, M. & C. Robinson. (1994). Asset allocation, life expectancy, and shortfall. Financial Services Review., 3(2), 109-126.
Ibbotson Associates (1996). Stocks, bonds, bills, and inflation yearbook. Ibbotson Associates, Chicago, IL.
Ibbotson Associates (1998). Stocks, bonds, bills, and inflation yearbook (CD-ROM V ersion). Ibbotson Associates, Chicago, IL.
Lynch, P. (1995). Fear of crashing. Worth 2(1), 79-88. Scott, M. C., (1996). Assessing your portfolio allocation from a retiree’s point of view. Journal of the American
Association of Individual Investors. 18(8), 8-11.
For some non-investing books that I have found useful to understand human behavior, which indirectly affects investing choices and often leads to bad choices, I would suggest the following books:
Dale Carnegie, How to Win Friends and Influence People
Nassim Taleb, Fooled by Randomness
Shaan Patel, Self Made Success