Books about Investing from Amazon.com

Bestselling author Nassim Nicholas Taleb continues his exploration of randomness in his fascinating new book, The Black Swan, in which he examines the influence of highly improbable and unpredictable events that have massive impact. Engaging and enlightening, The Black Swan is a book that may change the way you think about the world, a book that Chris Anderson calls, "a delightful romp through history, economics, and the frailties of human nature." See Anderson's entire guest review below.

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Guest Reviewer: Chris Anderson

Chris Anderson is editor-in-chief of Wired magazine and the author of The Long Tail: Why the Future of Business Is Selling Less of More.

Four hundred years ago, Francis Bacon warned that our minds are wired to deceive us. "Beware the fallacies into which undisciplined thinkers most easily fall--they are the real distorting prisms of human nature." Chief among them: "Assuming more order than exists in chaotic nature." Now consider the typical stock market report: "Today investors bid shares down out of concern over Iranian oil production." Sigh. We're still doing it.

Our brains are wired for narrative, not statistical uncertainty. And so we tell ourselves simple stories to explain complex thing we don't--and, most importantly, can't--know. The truth is that we have no idea why stock markets go up or down on any given day, and whatever reason we give is sure to be grossly simplified, if not flat out wrong.

Nassim Nicholas Taleb first made this argument in Fooled by Randomness, an engaging look at the history and reasons for our predilection for self-deception when it comes to statistics. Now, in The Black Swan: the Impact of the Highly Improbable, he focuses on that most dismal of sciences, predicting the future. Forecasting is not just at the heart of Wall Street, but it's something each of us does every time we make an insurance payment or strap on a seat belt.

The problem, Nassim explains, is that we place too much weight on the odds that past events will repeat (diligently trying to follow the path of the "millionaire next door," when unrepeatable chance is a better explanation). Instead, the really important events are rare and unpredictable. He calls them Black Swans, which is a reference to a 17th century philosophical thought experiment. In Europe all anyone had ever seen were white swans; indeed, "all swans are white" had long been used as the standard example of a scientific truth. So what was the chance of seeing a black one? Impossible to calculate, or at least they were until 1697, when explorers found Cygnus atratus in Australia.

Nassim argues that most of the really big events in our world are rare and unpredictable, and thus trying to extract generalizable stories to explain them may be emotionally satisfying, but it's practically useless. September 11th is one such example, and stock market crashes are another. Or, as he puts it, "History does not crawl, it jumps." Our assumptions grow out of the bell-curve predictability of what he calls "Mediocristan," while our world is really shaped by the wild powerlaw swings of "Extremistan."

In full disclosure, I'm a long admirer of Taleb's work and a few of my comments on drafts found their way into the book. I, too, look at the world through the powerlaw lens, and I too find that it reveals how many of our assumptions are wrong. But Taleb takes this to a new level with a delightful romp through history, economics, and the frailties of human nature. --Chris Anderson

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Price: $14.93 [Notify me when price goes down.]

Discover why apartment houses are the best investment in today's real estate market

The key to making big profits in real estate is to go against the traditional wisdom. When the masses are buying, it's often time to sell. When everyone is selling, there are huge bargains to be found. In Multi-Family Millions, contrarian real estate investor Dave Lindahl shows you how to read the market cycle, and explains why now is a great time to get started investing in apartment houses—even if it's your first time investing in real estate and you have no money for a down payment.

With a simple two- to five-unit multi-family property, or a thirty-unit apartment building, you can implement the same strategies Lindahl used in over 500 deals to build his own real estate fortune:

• How to reposition a multi-family property for maximum profit

• Where to get the money for your first deal

• How to own an apartment house and never deal with tenants

• Ten bad mistakes rehabbers make

• Three proven principles for attracting great deals on multi-family properties

• When and how to resell for huge profits

Conventional wisdom says real estate investors should start with single-family houses. Discover why it's easier and much more profitable to invest in multi-families!.
Price: $13.97 [Notify me when price goes down.]

Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book nonetheless compellingly advocates for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed. --Howard Rothman.
Price: $6.45 [Notify me when price goes down.]

-- How would you spend an extra $4,000 a year for the next twenty-five years?

-- How much more secure would your retirement be with an extra $100,000 or more?

-- How much more time could you spend at your family dinner table if you could work an hour less each day?

-- What would you do in retirement if you could retire three years earlier?

Your 401(k) plan is probably one of your most important future sources of financial security. This book makes it easy for you to take the five steps needed to add more than $100,000 to your retirement nest egg without taking more risk or saving more money. This can allow you to improve your lifestyle, increase your benefits, identify the hidden costs and also improve your standing within your company by proactively helping your employer to take needed action..
Price: $4.14 [Notify me when price goes down.]

Among the library of investment books promising no-fail strategies for riches, Benjamin Graham's classic, The Intelligent Investor, offers no guarantees or gimmicks but overflows with the wisdom at the core of all good portfolio management.

The hallmark of Graham's philosophy is not profit maximization but loss minimization. In this respect, The Intelligent Investor is a book for true investors, not speculators or day traders. He provides, "in a form suitable for the laymen, guidance in adoption and execution of an investment policy" (1). This policy is inherently for the longer term and requires a commitment of effort. Where the speculator follows market trends, the investor uses discipline, research, and his analytical ability to make unpopular but sound investments in bargains relative to current asset value. Graham coaches the investor to develop a rational plan for buying stocks and bonds, and he argues that this plan must be a bulwark against emotional behavior that will always be tempting during abrupt bull and bear markets.

Since it was first published in 1949, Graham's investment guide has sold over a million copies and has been praised by such luminaries as Warren E. Buffet as "the best book on investing ever written." These accolades are well deserved. In its new form--with commentary on each chapter and extensive footnotes prepared by senior Money editor, Jason Zweig--the classic is now updated in light of changes in investment vehicles and market activities since 1972. What remains is a better book. Graham's sage advice, analytical guides, and cautionary tales are still valid for the contemporary investor, and Zweig's commentaries demonstrate the relevance of Graham's principles in light of 1990s and early twenty-first century market trends. --Patrick O'Kelley.
Price: $11.42 [Notify me when price goes down.]

Corporate executives are struggling with a new trend: people using online social technologies (blogs, social networking sites, YouTube, podcasts) to discuss products and companies, write their own news, and find their own deals. This groundswell is global, it s unstoppable, it affects every industry and it s utterly foreign to the powerful companies running things now.

When consumers you ve never met are rating your company s products in public forums with which you have no experience or influence, your company is vulnerable. In Groundswell, Charlene Li and Josh Bernoff of Forrester, Inc. explain how to turn this threat into an opportunity.

Using tools and data straight from Forrester, you ll learn how to:



-Evaluate new social technologies as they emerge

-Determine how different groups of consumers are participating in social technology arenas

-Apply a four-step process for formulating your future strategy

-Build social technologies into your business including monitoring your brand value, talking with the groundswell through marketing and PR campaigns, and energizing your best customers to recruit their peers

Timely and insightful, this book is required reading for executives seeking to protect and strengthen their company s public image.

"Groundswell is jammed with big ideas, useful stories, and quotable stats. This is the new industrial revolution. Are you on board?"

-Seth Godin, author, Meatball Sundae

"This book will rock your world, if social technology hasn't rocked it already. It's a tsunami of unstoppable force. Amazon, Procter & Gamble, Facebook, Google, and Dell are profiting from the crest of the wave. Are you? Li and Bernoff are the apostles of the tsunami. This book will be your bible."

-Scott Cook, Founder and Chairman of the Executive Committee, Intuit

Groundswell provides practical advice on how to stay nimble and flexible in an ever-morphing digital world. Enabling your company to respond to change quickly especially when talking to and supporting your consumers is essential for business success.

-Cathie Black, President, Hearst Magazines

"The first phase of the Internet was about getting everyone connected. In this next phase, which changes the way we work, live, play, and learn, we re starting to realize the value of those connections as well as the new communications and experiences those interactions lead to the human network. Groundswell effectively documents this shift and underscores the opportunities available to all from this major market transition."

-John T. Chambers, Chairman and CEO, Cisco

"Heed the Groundswell! It's critical reading and helped us master the new dynamics of social media."

-Christina Norman, President, MTV

"Groundswell is a comprehensive look at the tidal wave of change engulfing marketers. Nobody should attempt to engage the newly empowered and emboldened consumer without first hearing what Li and Bernoff have to say on the subject."

-Clark Kokich, CEO, Avenue A | Razorfish

"Social technologies and the groundswell impact every business and organization worldwide. Li and Bernoff have written an insightful book that takes a refreshing research-driven approach to helping businesses transform themselves and successfully navigate this new dynamic landscape."

-Steve Rubel, Senior Vice President, Edelman Digital, and columnist for Advertising Age.
Price: $17.99 [Notify me when price goes down.]

A comprehensively updated edition of an essential guide to stock market investing

For over a decade, Jason Kelly has provided investors with the insider knowledge and time-tested strategies they need to maximize their investment programs. This thoroughly updated edition of The Neatest Little Guide to Stock Market Investing includes:
• Kelly’s Maximum Midcap Strategy, an innovative investment program that consistently outperforms the market
• Real-life examples of investment strategies that paid big dividends
• Tips from master investors like Warren Buffett, Peter Lynch, and Bill Miller

An accessible, intelligent, and highly effective approach to investing, The Neatest Little Guide to Stock Market Investing is an invaluable resource for investors everywhere..
Price: $8.42 [Notify me when price goes down.]

Jim Cramer, bestselling author and host of CNBC's Mad Money, has written the ultimate guide to lifetime investing for readers of any age.

Whether you're a recent college grad trying to figure out how to start investing, a young parent struggling to decide where and how to put away money, or someone well into middle age and worried about whether you've saved enough for retirement, Jim Cramer's Stay Mad for Life has the answers. Cramer covers all the essentials: how to save, where to invest, which pitfalls to avoid. He offers valuable advice on everything from mortgages to college tuition. He explains what professional money managers do right that amateur investors do wrong. Because there is always a bull market somewhere, Cramer tells readers where to find the bull markets of the future, and for those willing to do the homework, he chooses twenty stocks that could be long-term moneymakers. For those who don't have the time or the temperament to invest in stocks, he identifies the mutual funds that are proven winners. He's investigated these funds by using his own twenty-five years' experience managing money for himself and dozens of America's wealthiest families. Throughout, in addition to his own enormously successful experience, Cramer draws on rigorous research to back up his advice.

Jim Cramer is America's #1 financial guru. Every day he advises investors on how to get ahead of the markets and stay ahead on his daily television show, Mad Money; in his online columns and commentary at TheStreet.com; in his popular "Bottom Line" column in New York magazine, and on television programs from early morning to late night. His books have all been national bestsellers and have helped educate hundreds of thousands of investors about the perils and promises of the financial markets. USA Today called him "the media's most electrifying market pundit"; and his legions of fans agree. Jim Cramer's Stay Mad for Life is the definitive money book, a practical, concrete, insightful book of invaluable financial advice that is a joy to read..
Price: $13.95 [Notify me when price goes down.]