Written by:
Written by:
As I march toward 40, the opportunity cost of my free time is reaching all-time highs. But in past eras — when it didn’t take an act of God to just lie on the couch — I was known for reading a book or two, especially a finance book. Don’t get me wrong, I still read more than the average bear, but not nearly at the same rate.
If you, Dear Reader, are like me and have neither the time nor the patience to read a 300-page tome, no need to worry. I’ve got you covered. What follows are quick two-sentence summaries of my personal Top 10 Most Enlightening finance books. In lieu of a full read (which I would highly recommend, by the way), these pithy notes will provide a decade-and-a-half’s worth of insights in three minutes. Talk about a high ROI.
1) The Black Swan by Nassim Nicholas Taleb
Life’s biggest moments are unpredictable, yet we constantly fool ourselves into thinking we can forecast the future. Embrace uncertainty, build resilience.
2) Die with Zero by Bill Perkins
Stop hoarding for a future you might not see. The biggest flex is spending your money on experiences while you’re alive and actually able to enjoy them.
3) When Genius Failed by Roger Lowenstein
The rise and fall of Long-Term Capital Management shows how even the “smartest guys in the room” can blow up when ego meets leverage.
4) The House of Morgan by Ron Chernow
A deep dive into how John Pierpont Morgan shaped the global banking system and built an empire that made Wall Street the world’s power center.
5) The Psychology of Money by Morgan Housel
Money isn’t about spreadsheets; it’s about emotions and habits. Understanding yourself is the ultimate financial strategy.
6) Too Big to Fail by Andrew Ross Sorkin
The 2008 financial crisis was a global game of Jenga where everyone pulled blocks at the same time, and only a handful of insiders could stop the tower from falling.
7) The Intelligent Investor by Benjamin Graham
The timeless Bible of investing: stay disciplined, focus on value, and ignore the market’s mood swings if you want to win long-term.
8) House of Cards by William D. Cohan
The story of Bear Stearns’ epic collapse. Proof that hubris, bad bets, and poor leadership can turn rockstars into roadkill.
9) A Man for All Markets by Edward O. Thorp
A math nerd cracked the casinos then cracked the markets, showing that — with enough intelligence and discipline — the house doesn’t always win.
10) The Ascent of Money by Niall Ferguson
Money is the operating system of humanity. It’s powered empires, funded wars, and shaped the world even more than politics.
And for kicks, here are two of the most overrated “finance” books in human history. How these authors (who will, indignantly, remain nameless) became household names is beyond me.
1) Rich Dad, Poor Dad
Advice from an imaginary father wrapped in a parable that somehow convinced millions they were one real estate deal away from becoming the next Sam Zell.
2) The Richest Man in Babylon
A bunch of ancient guys in robes sharing money tips that boil down to “save more, spend less.” Groundbreaking stuff.
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Securities and advisory services offered through EWA LLC dba Equilibrium Wealth Advisors (a SEC Registered Investment Advisor).
* Government bonds and Treasury Bills are guaranteed by the U.S. government as to the timely payment of principal and interest and, if held to maturity, offer a fixed rate of return and fixed principal value. However, the value of fund shares is not guaranteed and will fluctuate.
* Corporate bonds are considered higher risk than government bonds but normally offer a higher yield and are subject to market, interest rate and credit risk as well as additional risks based on the quality of issuer coupon rate, price, yield, maturity, and redemption features.
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* All indexes referenced are unmanaged. The volatility of indexes could be materially different from that of a client’s portfolio. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment. You cannot invest directly in an index.
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* The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.
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* The DJ Equity All REIT Total Return Index measures the total return performance of the equity subcategory of the Real Estate Investment Trust (REIT) industry as calculated by Dow Jones.
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* International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors. These risks are often heightened for investments in emerging markets.
* Yahoo! Finance is the source for any reference to the performance of an index between two specific periods.
* The risk of loss in trading commodities and futures can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage is often obtainable in commodity trading and can work against you as well as for you. The use of leverage can lead to large losses as well as gains.
* Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
* Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful.
* Past performance does not guarantee future results. Investing involves risk, including loss of principal.
* The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee it is accurate or complete.
* There is no guarantee a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
* Asset allocation does not ensure a profit or protect against a loss.
* Consult your financial professional before making any investment decision.
In 15 minutes we can get to know you – your situation, goals and needs – then connect you with an advisor committed to helping you pursue true wealth.
EWA, LLC dba Equilibrium Wealth Advisors, is an SEC-registered investment advisory firm providing investment advisory and financial planning services to clients.
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In 15 minutes we can get to know you – your situation, goals and needs – then connect you with an advisor committed to helping you pursue true wealth.