If you want to deepen your understanding of wealth management, investments, and other financial topics, here’s a book list to get you started. Think of it as the “Tom Connelly and staff favorites” section of your local bookstore.
Energy Myths and Realities: Bringing Science to the Energy Policy Debate
There are many misconceptions about the future of global energy often presented as fact by the media, politicians, business leaders, activists, and even scientists―wasting time and money and hampering the development of progressive energy policies. Energy Myths and Realities: Bringing Science to the Energy Policy Debate debunks the most common fallacies to make way for a constructive, scientific approach to the global energy challenge.
Dance with Chance: Making Luck Work for You
Spyros Makridakis, Robin Hogarth, Anil Gaba
Dance with Chance explains how we all fall foul of this “Illusion of Control.” Fortunately, when we understand how luck operates, we can lessen its ill effects. By learning when to cede control over certain aspects of our life, paradoxically, we gain more control. By making small changes to our lifestyle, we can make a huge difference to the things that matter to us. From simple investment strategies to warning against health screenings, the authors offer revolutionary and often counterintuitive advice to make luck work for you.
Winning the Loser’s Game, 6th edition: Timeless Strategies for Successful Investing
The go-to guide for anyone seeking long-term gain in the stock market, Winning the Loser’s Game was referred to by the great Peter Drucker as “by far the best book on investment policy and management.”
Bogle On Mutual Funds: New Perspectives For The Intelligent Investor
John C. Bogle
The definitive work on mutual fund investing by one of finance’s great luminaries—provides investors with the wisdom of the pioneer of mutual funds to help you identify and execute the ideal mutual fund investment choices for your portfolio.
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing
Burton G. Malkiel
In a time of market volatility and economic uncertainty, when high-frequency traders and hedge fund managers seem to tower over the average investor, Burton G. Malkiel’s classic and gimmick-free investment guide is now more necessary than ever. Rather than tricks, what you’ll find here is a time-tested and thoroughly research-based strategy for your portfolio
Unconventional Success: A Fundamental Approach to Personal Investment
David F. Swenson
In Unconventional Success, investment legend David F. Swensen offers incontrovertible evidence that the for-profit mutual-fund industry consistently fails the average investor. From excessive management fees to the frequent “churning” of portfolios, the relentless pursuit of profits by mutual-fund management companies harms individual clients.
The Misbehavior of Markets: A Fractal View of Financial Turbulence
Benoit Mandelbrot, Richard L. Hudson
Mathematical superstar and inventor of fractal geometry, Benoit Mandelbrot, joins with science journalist and former Wall Street Journal editor Richard L. Hudson to reveal what a fractal view of the world of finance looks like. The result is a revolutionary reevaluation of the standard tools and models of modern financial theory.
The Black Swan: Second Edition: The Impact of the Highly Improbable
Nassim Nicholas Taleb
A black swan is an event, positive or negative, that is deemed improbable yet causes massive consequences. In this groundbreaking and prophetic book, Taleb shows in a playful way that Black Swan events explain almost everything about our world, and yet we—especially the experts—are blind to them.
Triumph of the Optimists: 101 Years of Global Investment Returns
Elroy Dimson, Paul Marsh, Mike Staunton
The authors present a comprehensive and consistent analysis of investment returns for equities, bonds, bills, currencies and inflation, spanning sixteen countries, from the end of the nineteenth century to the beginning of the twenty-first. This is achieved in a clear and simple way, with over 130 color diagrams that make comparison easy.
Surely You’re Joking, Mr. Feynman! (Adventures of a Curious Character)
Richard P. Feynman, Ralph Leighton, Edward Hutchings, Albert R. Hibbs
Richard Feynman, winner of the Nobel Prize in physics, thrived on outrageous adventures. Here he recounts in his inimitable voice his experience trading ideas on atomic physics with Einstein and Bohr and ideas on gambling with Nick the Greek; cracking the uncrackable safes guarding the most deeply held nuclear secrets; accompanying a ballet on his bongo drums; painting a naked female toreador. In short, here is Feynman’s life in all its eccentric―a combustible mixture of high intelligence, unlimited curiosity, and raging chutzpah.
The Portable Financial Analyst: What Practitioners Need to Know
Mark P. Kritzman
Financial professionals are faced with increasingly technical topics that are theoretically complicated but practically necessary in determining the trade-off between risk and return. The Portable Financial Analyst is a unique collection of essays that address the heart of every analyst’s and investor’s dilemma: how to make decisions in the face of unknown forces and how to assert some control over the outcome.
Searching for Certainty: What Scientists Can Know about the Future
John. L. Casti
Casti assesses current methods of forecasting and future prediction for the weather, evolutionary biology, the stock market, the outbreak of war, and mathematical proofs. His point is that an objective evaluation of the methods used to predict events should indicate how likely such predictions are to come true.
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel
The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham’s philosophy of “value investing” — which shields investors from substantial error and teaches them to develop long-term strategies — has made The Intelligent Investor the stock market bible ever since its original publication in 1949.
Against the Gods: The Remarkable Story of Risk
Peter L. Bernstein
“Ambitious and readable . . . an engaging introduction to the oddsmakers, whom Bernstein regards as true humanists helping to release mankind from the choke holds of superstition and fatalism.” -The New York Times
Capital Ideas: The Improbable Origins of Modern Wall Street
Peter L. Bernstein
Capital Ideas traces the origins of modern Wall Street, from the pioneering work of early scholars and the development of new theories in risk, valuation, and investment returns, to the actual implementation of these theories in the real world of investment management.
Expected Returns: An Investor’s Guide to Harvesting Market Rewards
This comprehensive reference delivers a toolkit for harvesting market rewards from a wide range of investments. Written by a world-renowned industry expert, the reference discusses how to forecast returns under different parameters.
The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor
Howard Marks’s The Most Important Thing distilled the investing insight of his celebrated client memos into a single volume and, for the first time, made his time-tested philosophy available to general readers.
The World Economy
The World Economy brings together two reference works by Angus Maddison: The World Economy: A Millennial Perspective, first published in 2001, and The World Economy: Historical Statistics, published in 2003. This new edition contains STATlinks, a service providing access to the underlying data online in Excel format. This monumental reference work offers a comprehensive view of the long term changes in world income and population, with estimates of world GDP for the past 2000 years.
Full House: The Spread of Excellence from Plato to Darwin
Stephen Jay Gould
Gould shows why a more accurate way of understanding our world is to look at a given subject within its own context, to see it as a part of a spectrum of variation and then to reconceptualize trends as expansion or contraction of this “full house” of variation, and not as the progress or degeneration of an average value, or single thing.
The Go-Go Years: The Drama and Crashing Finale of Wall Street’s Bullish 60s
“The Go-Go Years is not to be read in the usual manner of Wall Street classics. You do not read this book to see our present situation reenacted in the past, with only the names changed. You read it because it is a wonderful description of the way things were in a different time and place.” -Michael Lewis
Stumbling on Happiness
In this brilliant, witty, and accessible book, renowned Harvard psychologist Daniel Gilbert describes the foibles of imagination and illusions of foresight that cause each of us to misconceive our tomorrows and misestimate our satisfactions.
Manias, Panics, and Crashes: A History of Financial Crises
Charles P. Kindleberger
Manias, Panics, and Crashes, Fifth Edition is an engaging and entertaining account of the way that mismanagement of money and credit has led to financial explosions over the centuries. Covering such topics as the history and anatomy of crises, speculative manias, and the lender of last resort, this book puts the turbulence of the financial world in perspective.
Fred Schwed’s Where are the Customers’ Yachts?: A modern-day interpretation of an investment classic
The title of this 1955 book refers to a story about a visitor to New York who admired the yachts of the bankers and brokers. Naively, he asked where all the customers’ yachts were. Of course, none of the customers could afford yachts, even though they dutifully followed the advice of their bankers and brokers. Full of wise contrarian advice and offering a true look at the world of investing, Where are the Customers’ Yachts? continues to open the eyes of investors to the reality of Wall Street today.
Reminiscences of a Stock Operator
First published in 1923, Reminiscences of a Stock Operator is the most widely read, highly recommended investment book ever. Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your life—and your portfolio.
Robert J. Shiller
In this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prize-winning economist Robert Shiller, who warned of both the tech and housing bubbles, now cautions that signs of irrational exuberance among investors have only increased since the 2008-9 financial crisis.
The Fortune Sellers: The Big Business of Buying and Selling Predictions
William A. Sherden
In this piercing and provocative expose, business consultant and forecasting expert William Sherden casts an unblinking eye on the booming business of predicting the future, separating fact from fallacy to show us not only how best to use the forecasts we’re given, but how to “select the nuggets of valuable future advice from amongst the $200 billion worth of mostly erroneous future predictions put forth each year.
The Escape from Balance Sheet Recession and the QE Trap: A Hazardous Road for the World Economy
Richard C. Koo
The Escape from Balance Sheet Recession and the QE Trap details the many hidden dangers remaining as the world slowly recovers from the balance sheet recession of 2008. Author and leading economist Richard Koo explains the unique political and economic pitfalls that stand in the way of recovery from this rare type of recession that was largely overlooked by economists.
Expert Political Judgment: How Good Is It? How Can We Know?
Philip E. Tetlock
The intelligence failures surrounding the invasion of Iraq dramatically illustrate the necessity of developing standards for evaluating expert opinion. This book fills that need. Here, Philip E. Tetlock explores what constitutes good judgment in predicting future events, and looks at why experts are often wrong in their forecasts.
Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports
With major financial scandals popping up in greater numbers―and with more inevitably on the way―it has never been more important for you to understand what dishonest companies do to trick investors. Since the early 1990s, Financial Shenanigans has been helping investors unearth deceptive financial reporting at the most critical time― before they suffer major losses.
Stocks for the Long Run 5/E: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies
Jeremy J. Siegel
Much has changed since the last edition of Stocks for the Long Run. The financial crisis, the deepest bear market since the Great Depression, and the continued growth of the emerging markets are just some of the contingencies directly affecting every portfolio in the world.
Performance Evaluation and Attribution of Security Portfolios
Bernd R. Fischer
Measuring portfolio performance requires evaluation (measuring portfolio results against benchmarks) and attribution (determining individual results of the portfolio’s parts), In this book, a professor and an asset manager show readers how to use theories, applications, and real data to understand these tools.
Volcker: The Triumph of Persistence
William L. Silber
Over the course of nearly half a century, five American presidents-three Democrats and two Republicans-have relied on the financial acumen, and the integrity, of Paul A. Volcker. During his tenure as chairman of the Federal Reserve Board, when he battled the Great Inflation of the 1970s, Volcker did nothing less than restore the reputation of an American financial system on the verge of collapse. After the 2008 financial meltdown, the nation turned again to Volcker to restore trust in a shaky financial system: President Obama would name his centerpiece Wall Street regulation the Volcker Rule. Volcker’s career demonstrated that a determined central banker can prevail over economic turmoil-so long as he can resist relentless political pressure.
The Hedge Fund Mirage: The Illusion of Big Money and Why It’s Too Good to Be True
Simon A. Lack
Drawing on an insider’s view of industry growth during the 1990s, a time when hedge fund investors did well in part because there were relatively few of them, The Hedge Fund Mirage chronicles the early days of hedge fund investing before institutions got into the game and goes on to describe the seeding business, a specialized area in which investors provide venture capital-type funding to promising but undiscovered hedge funds.
The Longevity Project: Surprising Discoveries for Health and Long Life from the Landmark Eight-Decade Study
Howard S. Friedman
We have been told that the key to longevity involves obsessing over what we eat, how much we stress, and how fast we run. Based on the most extensive study of longevity ever conducted, The Longevity Project exposes what really impacts our lifespan-including friends, family, personality, and work.
The Evolution of Technical Analysis: Financial Prediction from Babylonian Tablets to Bloomberg Terminals
Andrew W. Lo
A comprehensive history of the evolution of technical analysis from ancient times to the Internet age.
This Time Is Different: Eight Centuries of Financial Folly
Carmen M. Reinhart
Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes–from medieval currency debasements to today’s subprime catastrophe.
Louis Bachelier’s Theory of Speculation: The Origins of Modern Finance
March 29, 1900, is considered by many to be the day mathematical finance was born. On that day a French doctoral student, Louis Bachelier, successfully defended his thesis Théorie de la Spéculation at the Sorbonne. Aside from providing an accurate and accessible translation, this book traces the twin-track intellectual history of stochastic analysis and financial economics, starting with Bachelier in 1900 and ending in the 1980s when the theory of option pricing was substantially complete.
A History of the Theory of Investments: My Annotated Bibliography
A History of the Theory of Investments is about ideas — where they come from, how they evolve, and why they are instrumental in preparing the future for new ideas. Author Mark Rubinstein writes history by rewriting history. In unearthing long-forgotten books and journals, he corrects past oversights to assign credit where credit is due and assembles a remarkable history that is unquestionable in its accuracy and unprecedented in its power.
The Clash of Generations: Saving Ourselves, Our Kids, and Our Economy
Laurence J. Kotilkoff
In The Clash of Generations, experts Laurence Kotlikoff and Scott Burns document our six-decade, off-balance-sheet, unsustainable financing scheme. They explain how we have balanced our longer lives on the backs of our (relatively few) children.
Family Legacy and Leadership
Sara Hamilton and Mark Haynes Daniell
Hamilton and Daniell have creatively taught us how to weave together the threads of lineage that create family legacy. They have also clarified the vision of what family leaders look like who are the master weavers of such threads.
Family Wealth: Keeping it in the Family: How Family Members and Their Advisers Preserve Human Intellectual, and Financial Assets for Generations
James E. Hughes
Every family, looking at the next generation, hopes to confer advantages that are more than just material and financial–to inculcate character and leadership, to inspire creativity and enterprise, to help all family members find and follow their individual callings, and to avoid the financial dependency and loss of initiative that can all too often be an unwanted consequence of financial success.
Preparing Heirs: Five Steps to a Successful Transition of Family Wealth and Values
Roy Williams and Vic Preisser
Preparing Heirs discloses the surprising findings from the authors’ research into the legacies of 3,250 wealthy families. With extraordinary insight, they reveal what the relatively small number of successful families had in common-how they achieved and maintained family harmony, and ensured the smooth transition of their wealth to well-adjusted heirs.
Navigating the Dark Side of Wealth: A Life Guide for Inheritors
Thayer Cheatham Willis
In Navigating the Dark Side of Wealth, Ms. Willis details the pitfalls that great wealth can lead people into: the morally corrupting and emotionally stunting effects that having material riches can cause, and the pain and heartache that ensue.
The Giving Tree
This is a tender story, touched with sadness, aglow with consolation. Shel Silverstein has created a moving parable for readers of all ages that offers an affecting interpretation of the gift of giving and a serene acceptance of another’s capacity to love in return.
Pretty Penny Sets Up Shop
Author/illustrator Devon Kinch has created a charming, stylish character with a signature look, just like such classic children’s book characters as Madeline, Eloise, Pippi Longstocking, and Olivia—Penny is never without her fuschia purse! With Pretty Penny’s help, kids can get money savvy.
Money Matters for Teen Workbook
In Money Matters for Teens, Burkett address issues of specific concern for teens and teaches them the basics to help them prepare for financial independence.
The Complete Guide to Personal Finance: For Teenagers
The Complete Guide to Personal Finance: For Teenagers is a reliable and relevant source of financial information in which teenagers will find a wealth of useful information.
The Millionaire Next Door
Dr. Thomas J. Stanley
The bestselling The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth.
Philanthropy, Heirs & Values: How Successful Families are Using Philanthropy to Prepare Their Heirs for Post-transition Responsibilities
Roy Williams and Vic Preisser
This first-of-a-kind book by Roy Williams and Vic Preisser of The Williams Group reveals the hidden power of philanthropy to prepare your heirs for wealth and responsibility.
The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money, by Ron Leiber
In the spirit of Wendy Mogel’s The Blessing of a Skinned Knee and Po Bronson and Ashley Merryman’s Nurture Shock, New York Times “Your Money” columnist Ron Lieber delivers a taboo-shattering manifesto that explains how talking openly to children about money can help parents raise modest, patient, grounded young adults who are financially wise beyond their years.
Saving the Family Cottage: A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home
Stuart Hollander, David Fry, and Rose Hollander
Whether you’re a parent planning to pass on a cottage to your children, someone who has inherited a cabin with your siblings or other relatives, or someone who is thinking about buying a vacation home, you want to know how to keep the property in the family—and avoid squabbles over it.
Women live longer and are more likely to live alone for significant periods of time. Our workplace participation is more intermittent, and the care of dependents falls to us more often. Though we are educated and successful, earning more now than ever before, we often lack confidence in our ability to make financial decisions. In short, our financial needs are different from those of men — it’s time our financial advice was different, too.
Why Didn’t They Teach Me This in School? 99 Personal Money management Lessons to Live By
Bestselling 5 Star Graduation Gift for both College and High School grads. Why Didn’t They Teach Me This in School? 99 Personal Money Management Lessons to Live By was initially developed by the author to pass on to his five children as they entered adulthood.
The Young Adult’s Guide to Financial Success
This is a book for young adults in their own households who have limited income, are students or recent graduates or recently married, and need to get their financial life in order.
Living Richly: Seizing the Potential of Inherited Wealth
This book is the go-to guide for conquering these obstacles by focusing on how to integrate with, take control over and preserve wealth, to live a fulfilling life and leave a lasting legacy. Keeping the emphasis on emotional well-being, Living Richly urges readers to uncover their true potential to align their self-worth with their net-worth.
The Inheritor’s Sherpa: A Life-Summiting Guide for Inheritors
By Myra Salzer
Those in this “niche market” of inheritors face many unique challenges, and Ms. Salzer provides grounded, well-rounded information, as well as personal support, to those who seek guidance as they embark on a journey of self-discovery and re-alignment with themselves and their world.
Legacy: A Step by Step Guide to Writing Personal History
In this practical guide to capturing those memories that have been stored away, Linda Spence provides the questions that are the keys to unlocking the memories that make up a life. Beyond the vital statistics are the personal stories that tell what it was like, what we did, and why we did it, how we feel about our choices, and what our circumstances were.
The Dilemmas of Family Wealth: Insights on Succession, Cohesion, and Legacy
The barriers to keeping money in the family are much more formidable than the barriers to making money in the first place. Why should this be? What pitfalls are most common? How can families and their advisers increase the odds of a successful intergenerational transfer of wealth? How can they preserve the family’s human and intellectual capital?
The Financially Intelligent Parent: 8 Steps to Raising Successful, Generous, Responsible Children
Eileen and John Gallo
Here are the eight behaviors of financially intelligent parents that will help families of all economic backgrounds raise fiscally responsible children.
Silver Spoon Kids How Successful Parents Raise Responsible Children
Eileen and John Gallo
How to raise a responsible child in a age of affluence.
Kids, Wealth and Consequences: Ensuring a Responsible Future for the Next Generation
Richard A. Morris and Jayne A. Pearl
Leaving children with a substantial amount of money can be a boon or a burden. High-net-worth parents need to give their children an education to navigate today’s complex world. Kids, Wealth, and Consequences enlightens high-net-worth parents about the unique issues they need to explore.
Mommy Are We Rich? Talking to Children about Family Money
Susan Peterfriend and Barbara Hauser
The authors share insights into this tricky subject from their combined professional careers. As people and as parents they offer warm suggestions and practical tips. Sprinkled through the book are actual quotes from very young children.
Wealth in Families
Charles W. Collier