Teachers' Day 2020: Five books from investment gurus every young investor should read.
The celebrations for Teachers’ Day 2020 is abuzz. While everybody is using this occasion to thank their teachers for their valuable contributions in their life. Besides, there are few investment gurus, who through their books have given invaluable advice to people to help them grow into a successful investor. Certainly, these books would help young investors to understand better the rough and tumble of the stock, currency and commodity markets. Here are five such books from investment gurus that every young investor should read.
1) "Rich Dad, Poor Dad" by Robert Kiyosaki
One can never grow rich by earning more unless and until he saves more and invests that amount properly. Where you spend your money decides your financial fate. "Rich Dad, Poor Dad" is a book that will teach you the basics of investing, assets, liabilities and how you can make your money work for you. Robert Kiyosaki, who himself has been a seasoned investor has advocated investments that will produce regular income for investors and will help him in achieving financial freedom. This book is a must-read for every young earner who wants to create an alternative stream of income by making proper investments.
2) "The Intelligent Investor" by Benjamin Graham
Author of this book Benjamin Graham is considered as the "father of value investing". This book advocates the purchase of stocks that appear cheap relative to its underlying value. This book discusses various ways of managing your investment portfolio. The author has given the example of many companies to illustrate his views. Warren Buffett, the value investing guru has even hailed the book as the best investing book ever written.
3) "The Dhandho Investor" by Mohnish Pabrai
The book will tell you how to create wealth through low–risk, high–return approach. This book has given the example of Patels, a small business community from India, who first began arriving in the United States in the 1970s as refugees with little education and capital and now own over $40 billion in assets in the United States and pay over $725 million a year. This book tells you to use the techniques used by the Patels in making stock market investment
4)"Think and Grow Rich" by Napoleon Hill
This book conveys important insights into the psychology of success and abundance, and should be considered a priority read given the current time period's emphasis on shock-value entertainment and negative news. The author of this book Napoleon Hill has conducted extensive research based on his association with wealthy individuals during his lifetime and has published 13 principles for success and personal achievement from his observations and research. These include desire, faith, specialized knowledge, organized planning, persistence and the "sixth sense."
5) "Beating the Street" Peter Lynch
Author of this book Peter Lynch started his carrier as an intern at Fidelity Investments in the mid-60s and became one of the most successful stock market investors and hedge fund managers. By reading this book you can peek into Lynch's mind and thought process in terms of deciding whether to buy or sell a stock. According to Lync, an individual investor can exploit market opportunities better than Wall Street. He has encouraged investors to invest in what they know.
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