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Posted 3 days, 4 hours ago. http://timothysykes.com/2008/05/08/my-10-all-time-favorite-finance-books/

My 20 All-Time Favorite Finance Books (Part 1)

Tags: Book Reviews, Books, Cool Products, TIMreads

These are my favs, ranked in order of how much of a fav they are–whether enjoyment or education-wise. You can see my whole 300 business library HERE (or at least what we’ve put up so far)

Notice there are few “How To” books—I believe success is more about understanding the variables and players behind the scenes so you can adapt to the inevitable changes. So, I prefer autobiographies—experiences full of lessons told through the eyes of the experienced who’ve learned those lessons the hard way so you don’t have. Throw in a few financial history classics and some trading psychology gems and you’ve got yourself one hell of a financial education. Just order the whole lot of ‘em, the cost of these books are a small price to pay for the money they’re gonna save you in the markets.

Reminiscences of a Stock Operator - My all-time favorite book, not just because it’s quick, entertaining, meaningful, practical, inspirational and timeless…okay well, yeah because of all that. Before you ever trade another stock, read this book!

An American Hedge Fund - C’mon, you knew I had to mention this if only because I’ve never read any other book so many times. Granted, some of that was for editing purposes, but I really think I nailed what the life of a stock trader is like—the passion, the nervousness, the anxiety, the restlessness—it’s not just about the money, it’s a great profession for those willing to challenge themselves and see what they’re made of. And, considering 90% of traders lose money, I wish there were a lot more brutally honest books like this.

How To Make Money In Stocks - My top pick for beginners, this sucker has sold 1+ million copies…besides CANSLIM investing being a successful strategy, it’s now just all one big self-fulfilling prophecy—don’t be the only one on the block who hasn’t read this…lots of angles to profit from its popularity.

Japanese Candlestick Charts - by Nison. If you’re gonna trade based on chart patterns, you need to know how to read candlesticks. This is a semi-expensive book so all you homeless people are gonna have to go to your local library to read it.

Extraordinary Popular Delusions & Madness of Crowds - As I tell every group I speak to, this is the book that saved me from the market crash in 2000. Now a few centuries old, its lessons are timeless and if you ever want a job on Wall Street, it’s a great book to name drop.

How I made $2 million by Darvas - Another classic investing strategy, now several decades old, that turned a regular guy into a millionaire. Again, the lessons are timeless (notice any pattern?) and his technique still works to this day. I wish I had that kind of patience…

Confessions of a Street Addict - The book that launched Cramer the brand and inspired me to write so openly about my experiences. Solid lessons here. After all, you’re not gonna find many similarly revealing books these days—there’s just too much money in sugarcoating everything, as you probly already know if you’ve read many finance books over the past few years. Cramer’s definitely gone mainstream now, but back when he wrote this, he was a wild and crazy guy!

Beyond Greed and Fear - If you’ve ever wondered about trading psychology and how fear and perception play into everything, this is the book for you. Very little known—thankfully—I guarantee you’ll be shocked at how important behavioral finance is.

Trading For A Living - The grand daddy book for all traders everywhere. It’s not my favorite, but it covers literally every major topic so you gotta have that knowledge in your arsenal.

Ugly Americans - The most entertaining book about finance, trading and hedge funds you’ll ever read. Who cares if it’s true or not, you will turn the pages quickly and there’s even some quality trading stories included.

Stay tuned for part 2 next Monday and other lists like books for beginners int he coming weeks!

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37 Responses

  1. 1ivegotstylekid(TIMBUCKS: $73)

    May 8th, 2008 at 4:19 pm

    good list, I just made a purchase for your book along with confessions.When I’m done with those I’ll be going down a few more on the list. Great post

  2. 2YngvaiMalmsteve

    May 8th, 2008 at 4:30 pm

    I’ve read the 2nd book on that list :)

  3. 3Dan_O(TIMBUCKS: $46)

    May 8th, 2008 at 4:37 pm

    I recently bought a bunch of trading books (about 20 total).

    I’m currently reading “Way of The Turtle” by Curtis M. Faith which is a great book about how some CBOE traders turned ordinary people into successful traders.

    I can’t read it before bed because of all the concepts and trading ideas flying around in my head.

    I have to say that Tim’s book is the best trading book I’ve ever read. Alot of reviewers say it, but I couldn’t put it down.

  4. 4Dan-O

    May 8th, 2008 at 4:42 pm

    One more thing…

    BOOKWORM!

  5. 5theproficientinvestor(TIMBUCKS: $3)

    May 8th, 2008 at 5:03 pm

    I got that How To Make Money in Stocks book free when I got a 1 year subscription to the weekly version of IBD. Great book.

  6. 6mrguyinlane(TIMBUCKS: $2)

    May 8th, 2008 at 5:48 pm

    I’ve only read the second book on that list… Hopefully I’ll get to the first one soon.
    Thanks for the list! I’ve been waiting for it for awhile now.

  7. 7nsaflyer(TIMBUCKS: $9)

    May 8th, 2008 at 5:53 pm

    Yo Tim, I just ordered your book off Amazon, can’t wait to get it! Thanks for the great advice.

  8. 8monkiman(TIMBUCKS: $29)

    May 8th, 2008 at 5:55 pm

    stock operator, american hedge fund since it really relates to our current trading, and of course the candlestick book… I also bought George Soros book about 2 years ago alchemy of finance and after reading few pages I closed the book and now its just use as shelf decoration…

  9. 9Blithe(TIMBUCKS: $28)

    May 8th, 2008 at 6:04 pm

    I’m reading Way of the Turtle, How to Make Money in Stocks and Japanese Candlestick Charting Techniques. I finished An American Hedge Fund about a week ago.

    A great VERY beginner book (with pictures) not mentioned or listed with Tim’s books is Standard & Poor’s Guide to Money and Investing.

    http://www.amazon.com/Standard.....0976474980

  10. 10Bob the VC

    May 8th, 2008 at 6:39 pm

    Tim, I’ve got my 633 VRML (re-in at 3.70) held over-night as well. Good thing I was away from my desk, or I would have been ill watching the randomness of this afternoon. I can’t see this thing going into the weekend over $3..

    I’ve read the sample chapter of your book, and couldn’t wait to read more. I used to read about two books a month, mostly during my lunch at work, but with the new job I haven’t found the time.. That will need to change. I want to read your book and the top one on the list as well..

  11. 11timothysykes

    May 8th, 2008 at 6:44 pm

    Bob, its not afternoon randomness, that was pumping manipulation at its finest…fade started very nicely, but again its gotta take out a key level to really ake it worthwhile, since volume is so low and its a Friday,we might just get one last spike, doesnt matter to me, I think I’m gonna hold this quite a while as the more research I do, the more I think this company is going under $2 again

  12. 12Jose

    May 8th, 2008 at 7:10 pm

    what do u think about IMB

  13. 13YngvaiMalmsteve

    May 8th, 2008 at 7:13 pm

    IMB looks like a terribly bearish chart to me. Not a good long or short

  14. 14timothysykes

    May 8th, 2008 at 7:20 pm

    1. never play bancorps, they’re more boring than a sissy value investor

    2. IMB’s chart proves point #1

  15. 15Dewey

    May 8th, 2008 at 7:21 pm

    What about Robert Kiyosaki? Rich Dad Poor Dad is a great book! It really challeges the way we were brought up to think about finances.

  16. 16Evan

    May 8th, 2008 at 7:48 pm

    Tim,

    You’re still doing great man! I’ve mentioned it a couple months back, but the book Contrarian Ripple rading is definitely worth a look. I’m steadily profitting from the strategy, albeit a pseudo ‘value investing’ one.

    What’s #1 on the short list for the am so I can at least reserve shares with TOS?

  17. 17Evan

    May 8th, 2008 at 7:49 pm

    Contrarian Ripple Trading…freakin’ typos!

  18. 18Millionairemind(TIMBUCKS: $17)

    May 8th, 2008 at 7:53 pm

    Probably Tim has read it or he has in his library, Tony Turner’s “A Beginner’s Guide to Short-Term Trading: How to Maximize Profits in 3 Days to 3 Weeks” was interesting. I have not read her other book ” A Beginner’s Guide to Day Trading Online.” I also read “The Successful Investor” by O’Neil and “Methods of a Wall Street Master” by Victor Sperandeo. Last one is boring though.

  19. 19Bob the VC

    May 8th, 2008 at 8:18 pm

    Thanks for the info. I just checked your post in the last entry regarding the pumper with the big buy order. Did that 10k block buy that was sitting at $3.45 get taken out? Is that what caused the spike? Maybe it would have been better if I could have stuck around- might have learned a thing or two!

  20. 20Tony Ellis(TIMBUCKS: $23)

    May 8th, 2008 at 9:05 pm

    Lessons from the Greatest Stock Traders of ALL Time, John Boik. Is a good book about Loeb, Baruch, Darvas, Livermore, and O’Neil’s trading methods. Kind of like Cliff’s Notes.

  21. 21Jibri

    May 8th, 2008 at 10:01 pm

    Enough being a spectator, Hey coach Tim, I’m ready to get in the game!

  22. 22Jibri

    May 8th, 2008 at 10:30 pm

    I’m going over your charts now. I’m still hunting my first kill. Any ideas guys?

  23. 23theprinceofinvesting(TIMBUCKS: $3)

    May 8th, 2008 at 11:09 pm

    James Ji Man, h3ll of an investor.. but sucks with fast money

  24. 24350z(TIMBUCKS: $4)

    May 8th, 2008 at 11:10 pm

    I POSTED SOME STOCK IDEAS FOR THE NEXT FEW DAYS.. I NEED YOUR OPTIONS

    TO SUM IT UP I THINK…

    SHORT: MBI, RYL, AIG

    LONG: HES, MRO, CVX ???

  25. 25Davey(TIMBUCKS: $100)

    May 8th, 2008 at 11:27 pm

    350z…To Sum it up…BUY THE DVD

  26. 26codyhof(TIMBUCKS: $19)

    May 8th, 2008 at 11:54 pm

    Suppose i should post in the forums for this… regardless, I havent bought the DVD yet, read the book. Does the DVD dwell much on long plays?

  27. 27timothysykes

    May 8th, 2008 at 11:57 pm

    All of these stocks are long plays too, depending on your personality, comfort level, discipline…my job is just to get you to understand the variables behind the moves and show you a whole bunch of historical examples, then you can play them how you like

  28. 28noobtrader.08(TIMBUCKS: $76)

    May 9th, 2008 at 1:39 am

    Tim… excellent article! I turn (dirty) 30 on June 1.

    My gifts to myself (yes, I buy myself a gift or two) are your DVD set, Reminiscences of a Stock Operator & Confessions of a street addict.

    Good shit man. Thanks.

  29. 29Oliver(TIMBUCKS: $10)

    May 9th, 2008 at 2:34 am

    i got 4 of those books listed here.
    reminiscences of a stock operator, how to make money in stocks, an american hedge fund and beyond greed and fear.
    i find all of them very useful and interesting to read. beyond greed and fear was mind blowing to how important behavioural finance is. the language used might not be the best for someone who has english as a second language (like me), tim with american hedge fund keeps it really simple though.

    btw the review of the Penny Stocking DVD that you posted previously was really detailed. I was looking forward to some kind of review of the DVD like this to make my final decision about purchasing the DVD. AND I WILL CERTAINLY ORDER IT IN THE UPCOMING DAYS.

  30. 30Alex

    May 9th, 2008 at 8:34 am

    Excellent call on Ugly American$. I do have to admit that this book was the reason I became interested in the market. And Japan.

  31. 31mattiefattie

    May 9th, 2008 at 8:40 am

    how about “Bonfire of the Vanity’s”? good read.

  32. 32Jeff C(TIMBUCKS: $11)

    May 9th, 2008 at 12:26 pm

    The Turner books are good “how-to” books, good all-around common strategery stuff. Have the O’Neill, Reminisces, American Hedge Fund, Nisson books. I think the more info., the better in come cases with books. Then you can glean the info. that works for you or see it in a new light when a different author displays it for you.

  33. 33John Forman

    May 9th, 2008 at 12:53 pm

    How To Make Money In Stocks is the book I credit with putting me on the trading and career path I’m on now.

    Japanese Candlestick Charts was something I used a lot when I was younger. I even had a conversation with Nison after I had written an article for TASC.

    I’ve read a couple of the others, but later in my development so they didn’t have as much impact on me.

  34. 34Zach

    May 11th, 2008 at 11:53 am

    Tim,
    If I purchase your book, will I be able to understand the key points to pennystocking? I want to buy your DVD but have to make some money in this market beforehand.

  35. 35timothysykes

    May 11th, 2008 at 11:57 am

    the book will give you a grounding/background in how i came to refine pennystocking, you’ll understand how buying into manipulation can be good, short selling into it even better and to focus on actively traded stocks only…the technical side/specifics are in the dvd package

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