What’s the Favorite Book of the World’s Top Traders?

Ask the world’s top investors which book on investing influenced them the most, and they will likely mention “Securities Analysis” by Graham and Dodd.

Published in 1934 and widely considered the bible of value investing, “Securities Analysis” is the safest “politically correct” choice. After all, value investing is the investment equivalent of living on a diet of broccoli and mineral water.

It is a diet that is likely very good for your investment health. At the same time, it’s tough to stick with value investing’s Draconian tenets. Even worse, most investors find value investing boring.

Ply a top trader with a few glasses of Chateau Lafite Rothchild, and he will likely concede that the single-most important book he’s read is Jack Schwager’s “Market Wizards: Interviews with Top Traders.”

Published in 1990, “Market Wizards” was the first of a genre of books that delved into the minds of the world’s top financial traders. For many investors of a certain age, it was Schwager’s book that turned them on to the world of capital markets in the first place.

That was certainly the case with me.

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