Brian Feroldi Profile picture
Jul 5, 2021 24 tweets 7 min read Read on X
I asked, “What book do you re-read the most?”

I received 441 replies

Here are 20 books that should be read again and again:
1/

7 Habits of Highly Effective People

by Steven Covey
2/

A Short History of Nearly Everything

by Bill Bryson
3/

As A Man Thinketh

by James Allen
4/

Atomic Habits

by @JamesClear
5/

Beyond Wealth

by Alexander Green
6/

Can’t Hurt Me

by @davidgoggins
7/

Extreme Ownership

by @jockowillink
8/

From Zero to One

by @peterthiel
9/

How To Win Friends And Influence People

by Dale Carnegie
10/

How Will You Measure Your Life

by Clayton Christiansen
11/

Meditations

by Marcus Aurelius
12/

The Art of Execution

by Lee Freeman-Shor
13/

The Millionaire Next Door

by Thomas Stanley
14/

The Compound Effect

by Darren Hardy
15/

The Four Agreements

by Don Miguel Ruiz
16/

The Goal

by Eliyahu M. Goldratt
17/

The Power of Now

by Eckhart Tolle
18/

The Psychology of Money

by @morganhousel
19/

Thinking, Fast and Slow

by Daniel Kahneman
20/

Think And Grow Rich

by Napoleon Hill
All of these books (and more) can be found on the “book recommendation” tab of my investing checklist

You can download a copy here:

brianferoldi.gumroad.com/l/zWXye
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More from @BrianFeroldi

May 12
How to analyze an income statement, FAST.

Study these 7 infographics:

1: Income Statement Overview Image
2: Three Types of Analysis Image
3: Net Income vs Free Cash Flow Image
Read 8 tweets
May 11
The most powerful investing principles I've ever learned are counterintuitive.

That’s logical - if they were intuitive, I wouldn't need to learn them.

Here are 7 counterintuitive investing principles I had to learn the hard with (with visuals) Image
1: Don’t haggle

If a stock is trading at $21, I used to set a limit order for $20.50

But my orders usually didn't fill.

Haggling caused me not to BUY a few mega-winners.

Which is FAR MORE costly than slightly overpaying. Image
Think of it this way:

If stock checks all your boxes and goes from $20 to $200

Does it matter if you got in at $19.56 or $21.25?

If you think a stock has 10x potential from today's price, don’t haggle over pennies.

Just buy it.
Read 18 tweets
May 8
I bought my first stock 21 years ago.

Here are 21 harsh investing truths I learned the hard way:

1: The worst mistake is to sell a mega-winner early Image
2: Humans are pre-programmed to be bad at investing.

3: Your personal finances are 10x more important than your investments.

4: Handle volatility is 100x easier in theory than in reality.
5: Confidence in your strategy will rise and fall in lock-step with asset prices.

6: The best stocks put their owners through gut-wrenching volatility. The worst stocks do, too.

7: You're going to be wrong—a lot. Be humble.
Read 10 tweets
May 6
How to Read 10Ks Like a Hedge Fund

Here’s what metrics professional analysts focus on (using $MA as an example:) Image
1: Business overview.

Understand everything about how the business works, like:
- What is the business model?
- Who are the key suppliers, distributors, partners?
- Revenue quality?(Recurring? Recession proof?)
- What is the revenue split from products / services? Image
2: Risk Factors

Most of these are standard.

Identify the risks that are company-specific and make sure you understand them. Image
Read 14 tweets
May 5
"I actually spend more time looking at balance sheets than income statements."

- Warren Buffett, 2025 Shareholder Meeting

Here's exactly how to analyze a Balance Sheet in less than 2 minutes: Image
The balance sheet is one of the three major financial statements.

It shows a company’s:
▪️Assets: What it owns
▪️Liabilities: What it owes
▪️Shareholders Equity: It's net worth

At a fixed point in time Balance Sheet
That “at a point in time” part is key!

A balance sheet is a SNAPSHOT of a company’s net worth.

It is measured at the end of a quarter/year. Image
Read 11 tweets
May 4
The most confusing term in accounting:

Stock-Based Compensation

How does it work? Why is it controversial?

Here’s a complete overview (in plain English): Image
How can shareholders incentivize executives & employees to think & act like owners?

Stock-based compensation (SBC) has become the standard answer.

SBC pays executives and employees with stock instead of cash.
In theory, SBC aligns employee + owner incentives.

Employees make more money when the stock goes up and less (or nothing) when the stock goes down.

This makes employees care about the direction of the stock.
Read 17 tweets

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