Compounding Quality Profile picture
Jan 27, 2024 12 tweets 4 min read Read on X
American Hedge Fund billionaire Bill Ackman is a learning machine.

"You can learn investing by reading books."

Here are his 9 favorite investing books everyone should read: Image
1. Security Analysis

This book is a valuation masterclass.

"The stock market is a voting machine in the short run and a weighing machine in the long run." Image
2. Quality of Earnings

This book shows the importance of examining a company's financial statements and earnings to determine their true quality and reliability Image
3. Beating the Street

In this book Peter Lynch emphasizes the idea that individual investors can achieve market-beating returns by investing in companies they understand and believe in Image
4. The Intelligent Investor

In the end, all intelligent investing is value investing.

The Intelligent Investor teaches investors to approach the stock market with a focus on long-term, rational, and conservative strategies. Image
5. The Essays of Warren Buffett

Are you a fan of Warren Buffett? Then you should read this book.

This book tells you exactly how Buffett has built his empire. Image
6. Margin of Safety

Investors are all too often lured by the prospect of instant millions and fall prey to the many fads of Wall Street.

Don't be like this. Act like an investor and not as a speculator. Image
7. You can be a Stock Market Genius

Joel Greenblatt is a great teacher and investor.

This book offers a practical guide to investing in the stock market. Image
8. The Warren Buffett Way

This book breaks down Warren Buffett's investment philosophy.

It's a helpful book for those who want to invest in a sound and rational way. Image
9. One Up On Wall Street

This is one of my favorite investment books ever.

"One Up on Wall Street" focuses on helping regular investors defeat Wall Street professionals, who are skilled and highly paid. Image
That's it for today.

If you liked this, you'll love a PDF I compiled with more than 200 pages of Bill Ackman's wisdom.

Sign up here to receive it : compounding-quality.ck.page/3192d630f8
Here's an overview of them all: Image

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More from @QCompounding

Jan 26
15 Books That Turn Ordinary Investors Into Professionals:

1. One Up on Wall Street – Peter Lynch

Peter Lynch turned $18 million into $14 billion by keeping it simple.

He believed the best investment ideas start in your daily life: the stores you shop at, the brands you love. Image
2. The Intelligent Investor – Benjamin Graham

This book is the foundation of everything.

This is where Warren Buffett learned about “Mr. Market” and the difference between price and value.

It teaches you how to invest rationally when everyone else is losing their mind. Image
3. Security Analysis – Graham & Dodd

Is this book dense? Yes. But worth every page.

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Here's a thread on The Psychology of Human Misjudgement: Image
Charlie Munger spent decades studying why smart people make bad decisions.

He identified 24 standard causes of human misjudgement.

Let’s break down the most important ones: Image
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Never underestimate how powerful incentives are. Image
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