Best Books about Stock Market, Psychology, Personal Finance, Mutual Funds

• Let’s Talk money by Monika Halan, 204 pages, 2018
  • it gives a clear blueprint about money management. Monica Halan answers the most common question related to investment, saving, insurance products. It’s a very practical and DIY type book. Monika Halan was consulting editor of Newspaper Mint. She has served as editor of Outlook Money and worked in some of India’s top media organizations, including the Indian Express, the Economic Times, and Business Today.  Let’s Talk Money by Monika Halan
• Retire Rich: Invest Rs 40 a day by P V Subramanyam, 350 pages, 2019(New Edition) 
  • P V Subramanyam, a Chartered Accountant by qualification and a financial trainer by profession and passion. He runs a personal finance blog subramoney. Our article Retire Rich: Invest Rs 40 a day by PV Subramanyam covers the book in detail.

• How to be Your Own Financial Planner in 10 steps by Manish Chauhan, 180 pages, 2013
  • Manish Chauhan runs personal finance blog Jagoinvestor. The book explains how one should take health insurance before the age of forty-five. The book illustrates key concepts that we ignore like our credit scores and how it affects our chances of getting a loan at a reasonable rate. We should try to eliminate the debts for which we are paying a high-interest rate. Our article How to be Your Own Financial Planner in 10 steps
    by Jago Investor

About Money and Psychology

In any profession or in life, soft skills are as important as the technical side if not more. Doing well with money has little to do with how smart you are and a lot to do with how you behave. The finance industry talks too much about what to do, and not enough about what happens in your head when you try to do it. 

• Psychology of Money by Morgan Housel, 252 pages, 2020
  • It describes flaws, biases, and causes of bad behavior that the author observed when people deal with money. It explores our relationship with money and how it connects with life’s bigger picture. A simple and easy read, must for everyone. Our article Psychology of Money by Morgan Housel covers it in detail. If interested in buying, Click on the image below to buy the book from Amazon. If interested to buy the book click Buy The Psychology of Money from Amazon.
• Rich Dad Poor Dad by Robert Kiyosaki 336 pages, 2017(latest edition)
  • Poor dad recommended, Study hard so you can find a good company to work for. Rich Dad recommended, Study hard so you can find a good company to buy. Poor dad forbade the subject of money to be discussed over a meal. The Rich Dad said encouraged talking about money and business at the dinner table. Since its debut in 1997, Robert T. Kiyosaki’s Rich Dad, Poor Dad is a landmark among personal finance books, a best-seller that has sold millions of copies worldwide. Rich Dad Poor Dad by Robert Kiyosaki. If interested to buy the book click, Rich Dad Poor Dad on Amazon!
• Think and Grow Rich by Napoleon Hill, 250 pages, 2014(latest edition)
  • Think and Grow Rich written by Napoleon Hill is among the 10 best-selling self-help books of all time. Though written in 1937 it is still relevant today. Napolean Hill studied 500 of the most successful people over 25 years and in 1937 he released the book Think and Grow Rich which outlines 13 principles that empower an individual to climb the ladder of success. Our article covers  Think and Grow Rich by Napoleon Hill in detail. If interested to buy the book click, image below

• Victory Project by Anupam Gupta & Saurabh Mukherjea
  • How does one achieve high performance without getting burnt out too early or losing the balance and have a high impact, fulfilling life? Captivating, Amazing, Insightful yet Simple, The Victory Project is a book that provides a framework, Simplicity Paradigm, with practical tools to achieve peak potential. Details about the book covered in our article Victory Project
• Value Investing and Behavioural Finance by Parag Parikh
  • The book is written in layman’s language with examples. Rational and successful investing is all about restraining and channelizing fear and greed and understanding behavioral finance, not market sentiments, crowd behavior, or company performances. Using investing trends in Indian capital markets over the last few decades, shows how collective behavioral biases affect investment decisions, returns, and market vagaries. And teaches long-term value and contrarian investing strategies based on the principles of behavioral finance. Further, it advises on how to spot investment opportunities and pitfalls in commodity stocks, growth stock, PSUs, IPOs, sectors and index stocks. It also alerts the reader to a ‘bubble’ or crisis situation, and ways to identify and insure against it.
• Secrets of Millionaire Mind: How Rich and Poor People think differently by T. Harv Eker 
• Millionaire Next Door
• The Richest Man in Babylon
• Joys of Compounding by Gautam Baid

About Stock Market

Intelligent Investor by Benjamin Graham, 623 pages, 2003(latest edition)

This book is considered the holy grail of the stock market. This book is written by Benjamin Graham who was the mentor of the greatest investor Warren Buffet.

The book was written in the 1940s and is heavy especially in the first few chapters. This book mainly focuses on the fundamentals of value investing.

The three main concepts covered in this book are investing approaches for types of investors viz. defensive and enterprising investor, Mr. Market and Margin of safety. If interested to buy the book click the  image below.

One Up On Wall Street by Peter Lynch, 304 pages, 2000 (latest edition)

More than one million copies have been sold of One Up on the Wall Street in which famous US mutual-fund manager Peter Lynch explains the advantages that average investors have over professionals and how they can use these advantages to achieve financial success.

He tells how one can categorize stock investments into 6 categories: slow growers, stalwarts, fast growers, cyclicals, turnarounds and asset plays. Companies don’t stay in the same category forever. Take McDonald’s for example. It’s gone from being a fast grower to a stalwart, to an asset play to slow grower. Our article covers One Up On Wall Street by Peter Lynch . If interested to buy the book click the image below.

Common Stocks and Uncommon Profits by Philip A. Fisher’s

In Common Stocks and Uncommon Profits, Philip Fisher shows what to buy, when to buy and when to sell for those who are desiring to get uncommon returns on their investments. This is a good read to understand the fundamentals of growth investing.

The book has chapters What to buy, When to buy, Hullabaloo about dividends, Five don’ts for investors, and How he goes about finding a growth stock. In the key chapter titled ‘What to buy’, Fisher elaborates upon the 15 questions that investors need to ask before investing. Philip Fisher suggests that the dividend consideration should be given the least, not the most, by those desiring to select outstanding shares

He has outlined the essence of his approach to hunting for quality stocks. He calls it ‘scuttlebutt’, which basically means conducting detailed interviews with stakeholders—suppliers, customers, shareholders, and employees—and competitors about a company’s prospects.

If interested to buy the book click on the image below

Stock to Riches by Parag Parikh

Parag Parikh, a seasoned broker, and expert was the founder and chairman of PPFAS Ltd, the Mutual fund Company. He distills his experience to demystify investing in the stock market.  It simplifies investing in stocks and provides key perspectives for a lay investor venturing into the market.

This book covers:  What is investing, What is the science of behavioral finance and What are mental accounting and mental heuristics. This book is not about fundamental analysis or technical analysis but purely how investor thinking affects the market.

The little book that beats the market – Joel Greenblatt

The book The little book that beats the market highlights a ‘MAGIC FORMULA’ while you make choices from different identified stocks. This formula gave huge returns when applied by focused and patient investors.

The formula includes two important factors: Earning yield & Return on Capital.  As an investor, you should consider these two key factors primarily whenever you decide between various stocks in any stock market before investing. Using this formula, you will surely yield amazing returns.

Dhandho Investor by Mohnish Pabrai: 208 pages, 2007

Mohnish Pabrai Indian-American entrepreneur and investor and manages Pabrai Investment Funds in the US and, since 1999, has delivered good returns.

Dhandho is a Gujarati word, that means endeavors that create wealth. The Dhandho Investor lays out the powerful framework of value investing. The Dhandho method expands on the groundbreaking principles of value investing expounded by Benjamin Graham, Warren Buffett, and Charlie Munger.

Readers will be introduced to important value investing concepts such as “Heads, I win! Tails, I don’t lose that much!,” “Few Bets, Big Bets, Infrequent Bets,” Abhimanyu’s dilemma, and a detailed treatise on using the Kelly Formula to invest in undervalued stocks.

This is a breezy read compared to many value investing books out there.

Romancing the Balance Sheet: Anil Lamba: 260 pages, 2013

Anil Lamba is a Chartered Accountant, International Corporate Trainer, and Financial Literacy Activist.

This book is simple one, for those who don’t have a basic knowledge of finance. Helps an investor to calculate the Valuation of a company through its financial statements, Profit and Loss and Balance Sheets. This book is not an Accountancy book so you wouldn’t get anything related to Accountancy if you are seeking that.

This book is divided into fifteen chapters and is further subdivided into six sections. The book covers the basics of the financial statements, but it also covers financial topics, inventory management, working capital management, marginal costing, and leverage analysis. that people working in non-finance departments should also know.

        Romancing the Balance Sheet: Anil Lamba

About Indian Stock Market

Bulls, Bears and Other Beasts – A Story of the Indian Stock Market by Santosh Nair, 416 pages, 2016

Bulls, Bears and Other Beasts is a semi-fictional spin that covers Dalal Street. Santosh Nair takes the reader through three decades of Dalal Street,from the days of ring trading to the 2016, through his fictional hero Lalchand Gupta, the son of a humble plant technician.  

The book delves deep into every noteworthy event, from the Harshad Mehta scam of the early nineties to Ketan Parikh’s rigging operations in 1999-2000, to the IPO rigging scandal of 2010, and NSEL’s commodities trading fraud in 2012.

If you are keen to learn about the history of the Indian stock market, this book has detailed recounting of the evolution of the market over the last three decades.

Coffee Can Investing by Saurabh Mukherjea, Rakshit Ranjan and Pranab Uniyal

In Coffee Can Investing, Saurabh shows how to go about investing in good Indian companies that generate great returns.  The author’s prescription for high returns with low volatility is ‘Coffee Can Investing’, an idea introduced in 1984 by the late Robert Kirby of Capital, the Los Angeles-based investment giant. It offers solutions to ‘grow your money four to five times whilst taking half the risk compared to the overall market’

Over eight chapters and through the stories of two individuals, it lays out well the pitfalls tripping most Indian investors, primarily over-investment in real estate, gold and fixed deposits, and under-investment in stocks.

About Fundamental Analysis, Technical Analysis of stocks (Indian context)

How to Avoid Loss and Earn Consistently in the Stock Market by Parasenjit Paul, 242 pages, 2015

Plenty of free trading tips are available across Television and Internet; still maximum small investors are unable to earn significant returns consistently from stock market. Why? Why maximum individuals still consider the stock market as a place for gambling?

Investing in high-quality business (stock) at the right price and holding them for a reasonable period is the only way for wealth creation. Written in an easy-to-understand and simple language, this book will guide you on how to select fundamentally strong business, when to buy and sell stocks and above all how to minimize or avoid loss in the stock market. Link on Amazon

How to Day Trade for a Living: A Beginner’s Guide to Trading Tools by Andrew Aziz, 362 pages, 2016

Day trading is not a gambling or an online poker game. To be successful at day trading you need the right tools and you need to be motivated, to work hard, and to persevere. As a new day trader, you should never lose sight of the fact that you are competing with professional traders on Wall Street and other experienced traders around the world who are very serious, highly equipped with advanced education and tools, and most importantly, committed to making money. Day trading is not gambling. It is not a hobby. You must approach day trading very, very seriously. The writing is simple and plain without any jargon. Link on Amazon

Fundamental Analysis Shares: Become An Intelligent Investor by Khushboo Gala, Ankit Gala, 244 pages, 2019

Fundamental analysis is a method of evaluating the intrinsic value of shares to find long-term investing opportunities. This book will teach an average retail investor the basics of fundamental analysis so that he can invest in shares having sound fundamentals and avoid having poor fundamentals. The book also includes value investing principles of legends like Benjamin Graham, Warren Buffett, and Peter Lynch. Book explains in detail the key components of the annual report of a company and company’s financial statements like balance sheet, profit and loss account, and cash flow statement. Link on Amazon 

Guide To Technical Analysis & Candlesticks

Technical Analysis is a method of examination of past price movements to forecast future price movements to identify trading opportunities. This Book will teach a trader or investor the basics of technical analysis so that he can pick the right stocks at right time to make money from trading or investing in them.

The book will teach you how to use various technical analysis tools like support – resistance, moving averages, candlestick patterns, chart patterns, technical indicators and oscillators, etc with help of various case studies and charts.

The book also teaches how to effectively manage risk using stop losses and how to exit trades at right time to book maximum profits. Link to Amazon

About Investing, Mutual Funds

What Every Indian Should Know Before Investing: From Fixed Deposits to PPF to Real Estate, Gold, Mutual Funds, Stocks and more

The personal investing space includes many investment options. From Fixed Deposits to PPF to Real Estate, Gold, Mutual Funds, Stocks and more. Understanding each of these investment options can be a challenge to the new investor. This book aims to explain all the popular investment options in detail along with their advantages, disadvantages, taxation, etc. Along with investment options, this book also has chapters on Life Insurance, Health Insurance, Writing a Will, Making a Financial Plan and Investment Terms – topics that will ensure that the reader has a holistic view of investing.

This new edition has a chapter on Essential Formulas that will help investors manage their personal finances better. All topics are explained in a simple, easy-to-understand manner! Link on Amazon.

Indian Mutual Funds Handbook, 344 pages, 2018

This comprehensive handbook by an expert lays out the working of Indian mutual funds, their operational and regulatory mechanisms, the advantages and limitations of investing in them along with sensible approaches to personal financial planning. The author’s experience of handling hundreds of training programmes ensures an engaging and easy to understand approach to mastering the subject.  Indian Mutual Funds Handbook 5th Edition

108 Questions & Answers on Mutual Funds & SIP, 196 pages, 2018

All the information that you need to know as a novice/intermediate mutual fund investor has been put into this book in a concise way, without any gibber jabber or handwaving.  The focus of this book is on simplifying myriad concepts of mutual funds and demystifying myths around these investments. This book will help you understand various types of mutual funds, their comparison with other assets, ways to invest in mutual funds and identify the type of funds that fit your profile the best. 108 Questions & Answers on Mutual Funds & SIP

About Investment Gurus

The Warren Buffett Way, by Robert G. Hagstrom,

The Warren Buffett Way lays out all the rules of thumb Buffett uses in his investing and walks the reader through them with case studies out of Buffett’s own portfolio. These include well-known rules like buying businesses you understand and ignoring Mr. Market

Poor Charlie’s Almanack-The Wit and Wisdom Of Charles T Munger, By Peter Kaufman

This is an expensive book worth Rs 6900.

This book is a biography that chronicles Charlie’s growth from his Omaha childhood to his financial success. The book also summarises his approach to life, decision-making, learning, and investing. It talks about his unconventional method of thinking and his astonishing work ethic, that is, the twin fonts of his remarkable success. There is also a special section Mungerisms, Charlie Unscripted section that holds a collection of scathing remarks he had made at previous Wesco Financial and Berkshire Hathaway annual meetings.

This book was one of my first detailed introductions to Munger’s multiple mental models approach to evaluating businesses and subsequent “Lollapalooza Effects,” or related effects that stem from using multiple disciplines such as mathematics and psychology to determine if investment odds are in one’s favor. There are also many stock ideas, including Munger’s admiration for the simplicity of Costco ‘s business model, or the durability of Coca-Cola  as an investment and brand, and past successes including Disney  and Gillette, now part of Procter & Gamble .

But the writing is taken from his speeches. Some of the lessons tend to run on, but there are nuggets of insightful takeaways from a 20-year period.

           If you love Charlie Munger, Berkshire Hathaway, Warren Buffett, or are researching these topics then this is a great book. Otherwise, many say it is a struggle to read

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