Thread by @jasonzweigwsj

If you’re looking for gifts this holiday season, here are my suggestions for the books every investor should own.

If you’re looking to read and learn, you need books that have stood the test of time. These few will, I believe, still be indispensable decades from now.

I’ve read every one of them from cover to cover, often more than once. (Some aren’t about investing, but I’ve included them because they will help you make better financial decisions.) In alphabetical order:

Gary Belsky and Tom Gilovich explain why smart people do such stupid things with money
amzn.to/3GFROkz

Peter Bernstein brilliantly chronicles the history and meaning of risk
amzn.to/3V4X0CS

William J. Bernstein summarizes all you need to know
amazon.com/Four-Pillars-I…

Jack Bogle offers a reliable road map to investing (not just in mutual funds!)
amzn.to/3u1VFRa

Edward Chancellor illuminates the history of booms and busts (pair it with Kindleberger, below)
amzn.to/3V2pyNe

Elroy Dimson, Paul Marsh and Mike Staunton document and analyze long-term asset returns. (For serious investors only.)
amzn.to/3gAW4qY

Richard Feynman gives master classes on critical thinking
amzn.to/3EYC22M
amzn.to/3tXuE1m

“Adam Smith” (George J.W. Goodman) punctures Wall Street’s pretensions
amzn.to/3OCPdtK

Morgan Housel shows how to think about money and wealth
amzn.to/3EDtn4u

Darrell Huff will make you a little smarter in only a couple of hours
amzn.to/3VpTov6

Daniel Kahneman explains how people make decisions (disclosure: I helped Prof. Kahneman research, write and edit the book but don’t receive royalties from it)
amzn.to/3OAMAZb

Charles Kindleberger describes how and why markets go to extremes (pair it with Chancellor, above)
amzn.to/3tUvdck

Roger Lowenstein spells out what makes Warren Buffett such a paragon of business
amzn.to/3GEVV0h

Burt Malkiel explains how markets work
amzn.to/3gEOPxY

Bertrand Russell shows how to separate sense from nonsense
amzn.to/3VbGn8M
amzn.to/2oTgUFL

Alice Schroeder delves deep into Warren Buffett’s mind and motivations
amzn.to/3XwJj0W

Fred Schwed Jr.’s masterpiece is not only the funniest book ever written about Wall Street but one of the wisest (disclosure: I wrote the foreword, but don’t receive royalties from it)
amzn.to/3tTDHR4

Finally, I’ll list some books I *do* earn royalties on, without further comment. You can make up your own mind about them.

amzn.to/3XtYxnD

amzn.to/3AIZWwS

amzn.to/3XtYIiN

amzn.to/3XrX557

I’ve provided some additional commentary on classic investing and personal-finance books here:
jasonzweig.com/best-books-for…
jasonzweig.com/five-books/
jasonzweig.com/do-you-know-th…
jasonzweig.com/what-i-read-an…

Happy giving, and happy reading!

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