Reading list
Books I'd read: markets and investing
By AP's Morning Brief · Last updated: October 27, 2026 · No affiliate or retailer links
These are reading suggestions for learning, not recommendations to buy, sell or hold any security. Summaries describe what each book covers; we haven't been paid or sent copies.
1. A Random Walk Down Wall Street (Burton G. Malkiel, 1973; 50th-anniversary 13th edition, 2023)
Why: The clearest single argument for low-cost, diversified index investing, and a tour of why stock-picking and market-timing are harder than they look. The newer edition also takes on recent fads (the publisher's listing mentions crypto, meme stocks, factor investing and ESG). Suits: beginners who want the "why" behind index funds before deciding anything.
Honest drawback: It's long, and the theory sections (efficient markets, portfolio theory) can drag if you just want the practical takeaways.
Listings: W. W. Norton, https://wwnorton.com/books/9781324051138 (13th ed., Feb 17, 2023). First edition 1973: University of Notre Dame Library catalog, https://findit.library.nd.edu/Record/000040380
2. The Little Book of Common Sense Investing (John C. Bogle, 2007; 10th-anniversary edition, 2017)
Why: Vanguard's founder (per the publisher's author note) makes one case, low-cost index funds, and makes it with simple arithmetic about costs. Short chapters, easy to finish in a weekend. Suits: anyone who wants the cost argument in plain language.
Honest drawback: It's one idea repeated many ways, and the author ran an index-fund company, so read it knowing his position.
Listings: Wiley, https://www.wiley.com/en-us/The+Little+Book+of+Common+Sense+Investing%2C+10th+Anniversary+Edition-p-9781119404507 (Oct 2017; the publisher notes the first edition was April 2007).
3. The Intelligent Investor (Benjamin Graham, 1949; 3rd edition with Jason Zweig, 2024)
Why: A foundational value-investing text, first published in 1949, on thinking about what a business is worth rather than where its share price is heading. Modern editions pair Graham's chapters with commentary by Jason Zweig. Suits: readers ready for a slower, more serious book after a beginner title.
Honest drawback: Graham's own chapters are dated and dense; many of his numeric screens were built for markets very different from today's.
Listings: HarperCollins, 3rd ed. (on sale Oct 22, 2024; listed with Jason Zweig), https://www.harpercollins.com/products/the-intelligent-investor-3rd-ed-benjamin-grahamjason-zweig. Earlier revised edition (2015 listing): https://www.harpercollins.com/products/the-intelligent-investor-rev-ed-benjamin-graham. Zweig's own page: https://jasonzweig.com/books/the-intelligent-investor/. First published 1949 (Harper): UW–Madison Libraries, https://search.library.wisc.edu/catalog/999871482502121/cite
4. The Psychology of Money (Morgan Housel, 2020)
Why: Short essays on behaviour: greed, fear, patience, and why smart people make poor money decisions. The publisher describes it as 19 short stories. Suits: new investors, or anyone who knows the theory but struggles to stick to a plan.
Honest drawback: Light on mechanics. You won't learn how to read a filing or value a company here.
Listings: Harriman House, https://www.harriman-house.com/authors/morgan-housel/the-psychology-of-money/9780857197689 (paperback, Sep 8, 2020).
5. Financial Shenanigans (Howard M. Schilit, 1993; 4th edition with Jeremy Perler and Yoni Engelhart, 2018)
Why: A catalogue of the ways companies can flatter their earnings and cash flow, with real cases. It's the natural next step after learning to read an earnings report. Suits: readers who already read releases and want to know what to be sceptical of.
Honest drawback: It's written for people comfortable with accounting terms; beginners may need a basic accounting primer first.
Listings: First edition (McGraw-Hill, 1993): Open Library, https://openlibrary.org/books/OL1398852M/Financial_shenanigans. 4th edition (McGraw Hill, 2018): Google Books listing, https://books.google.com/books/about/Financial_Shenanigans_Fourth_Edition_How.html?id=ypOhtAEACAAJ
6. Market Wizards (Jack D. Schwager, 1989; updated edition, 2012)
Why: Long interviews with professional traders about risk, losses and discipline. Worth reading for the range of approaches and the attention many interviewees give to risk, not for any single method to copy. Suits: readers interested in short-term trading who want to hear the risk side first.
Honest drawback: Classic survivorship bias: you hear from traders who succeeded, not the many who didn't, and some of the methods discussed are decades old.
Listings: Wiley, https://www.wiley.com/en-us/market-wizards-interviews-with-top-traders-updated-p-9781118273050 (updated edition, Feb 2012). First edition 1989: University of Notre Dame Library catalog, https://findit.library.nd.edu/Record/000782024
Suggested order for a beginner: 4 → 2 → 1 → 3, then 5 if you read company filings, or 6 if you trade.
General information and education only.
Original publication years come from the library records or publisher notes linked above.
