Read these 3 books about the stock market to get started on your investing journey
The stock market can be a very difficult place for beginners to navigate. Before you start investing your money, you should have a fairly good understanding of how the stock market works.
Investing can be a way for your money to make money for you. That said, you work hard for the money you earn, and investing in the stock market without proper knowledge can cost you.
There are many resources out there to give you the knowledge you need to be confident in the investments you make. Books are one of many resources to explore.
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Over the years, there have been numerous books written about the ins and outs of the stock market, and they all take different approaches. Some take a very data-driven approach, while others are more psychology and behavior-based. Certain books cover short-term investing, while others are more focused on the long-term growth of your money.
If you have never invested a dime before, or have just begun investing and want to know more, these are three books that will help you get a better understanding of how the stock market works.
If you have no idea how the stock market works or what the first steps you should take are, this book is for you.
Think of "A Beginner’s Guide to the Stock Market" by Matthew R. Kratter as a "how-to" guide to investing. This book will answer all the questions you have and provide you with clear instructions on how to get started in the stock market.
Throughout this book, you’ll learn how to open a brokerage account, how to purchase your first stock, how to earn a passive income in the stock market, how to choose stocks and more.
"The Intelligent Investor" was written by Benjamin Graham in 1949 but remains one of the most popular stock market books to date.
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This book covers value investing, which is an approach that targets undervalued stocks that could perform well in the long term. This is not a short-term strategy, but instead teaches investors how their money can grow over a long period of time.
Even though this book was written in 1949, a lot of the concepts put forth by Graham can still be applied today. That said, there was a revision published in 2006 so the book better reflects a modern market.
The revised edition of the classic business book offers commentary by financial journalist Jason Zweig.
"The Psychology of Money" is slightly different from the others on this list. This book was published in 2020 by Morgan Housel.
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This book is more of a lighter read than many other money-based books. It focuses more on individuals' behaviors and financial decisions, rather than math and data.
As a stock market novice, it's easy to get tangled up in the math and data. The style of this book is easy to digest, while still teaching about investing and money management in general.
Through the 19 different stories presented in the 19 chapters of this book, Housel is able to teach readers how to have a better relationship with money and finances.