Advanced Investing Books - Quantitative Investment Strategy (2024)

When you are ready to take the next step beyond buy & hold then this fun selection of advanced investing books will introduce you to the world of scientific, actuarial investment strategy - quantitative investing. This is how you produce more consistent and reliable investment returns regardless of market conditions. Each of these books offers a slightly different perspective so you can see which one is most compelling for you...

Advanced Investing Books - Quantitative Investment Strategy (4)Advanced Investing Books - Quantitative Investment Strategy (5)

What Works on Wall Street, Fourth Edition: The Classic Guide to the Best-Performing Investment Strategies of All TimeAdvanced Investing Books - Quantitative Investment Strategy (6)James O'Shaughnessy provides mountains of research on effective stock screening strategies. Otherwise known as factor modeling, his methodical research examines how market capitalization, P/E ratios, price to sales ratios, and price to book ratios (among other factors) influence expected investment returns. He then develops multi-factor models where he combines several factors to develop improved return versus risk. This is the place to start if you are new to stock screening. Another excellent choice in this area is Quantitative Value: A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (Wiley Finance)Advanced Investing Books - Quantitative Investment Strategy (7).

Advanced Investing Books - Quantitative Investment Strategy (8)Advanced Investing Books - Quantitative Investment Strategy (9)

The Ivy Portfolio: How to Invest Like the Top Endowments and Avoid Bear MarketsAdvanced Investing Books - Quantitative Investment Strategy (10)I'm not a huge fan of the "Ivy Portfolio" portion of the book. Instead, the reason this book is featured is the golden gems hidden in the 3rd section explaining quantitative systems. That is Meb's strength. Both approaches revealed in the book have held up beautifully in out-of-sample results and are fully explained in easy-to-understand terminology.

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Unexpected Returns: Understanding Secular Stock Market CyclesAdvanced Investing Books - Quantitative Investment Strategy (13)Investing without knowing what's in this book is like driving with your eyes closed. Ed has done the research and presents data-proven insights in beautifully organized charts that will intrigue the analytical mind and frustrate romance novel readers. Admittedly, it's not a page turner, but if you have a portfolio you gotta know this stuff. Pay particular attention to the forecast conclusions made when the book was originally published years ago.

Advanced Investing Books - Quantitative Investment Strategy (14)Advanced Investing Books - Quantitative Investment Strategy (15)

The Misbehavior of Markets: A Fractal View of Financial TurbulenceAdvanced Investing Books - Quantitative Investment Strategy (16)The next time a buy & hold apologist tells you volatility doesn't matter, hand them this book. Mandlebrot is the math genius behind Fractal Geometry so this analysis comes with a serious pedigree. He analyzes security market price change distributions and proves that the frequency and severity of extreme moves defies normal statistical probability. The important conclusion is that fat-tailed distributions are so prominent that they literally define the distribution with important mathematical conclusions.

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The Black Swan: Second Edition: The Impact of the Highly Improbable: With a new section: "On Robustness and Fragility"Advanced Investing Books - Quantitative Investment Strategy (19)Our minds are wired to deceive us, and nowhere is this more expensive than investing. This books provides part of the foundation for quantitative investment discipline, puts the nail in the coffin of forecasting, and eliminates 99% of what passes for "financial advice". The crux of the issue is decision making under uncertainty. The future is 100% unpredictable so the only viable alternative is probabilistic outcomes. Pay particular attention to chapters 15-17.

Advanced Investing Books - Quantitative Investment Strategy (20)Advanced Investing Books - Quantitative Investment Strategy (21)

More Than You Know: Finding Financial Wisdom in Unconventional Places (Updated and Expanded) (Columbia Business School Publishing)Advanced Investing Books - Quantitative Investment Strategy (22)If you enjoy an intellectual adventure into investing then this book is fun and a worthwhile read. If you are looking for data driven insights then this book will disappoint you. Of particular note is how the author holds up Bill Miller's value investing track record as evidence right before Miller "blows up" in the years following publication. Oops! Nonetheless, this book provides valuable food for thought.

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Valuing Wall Street: Protecting Wealth in Turbulent MarketsAdvanced Investing Books - Quantitative Investment Strategy (25)Published in 2000, this book applied Tobin's Q-ratio to call the subsequent poor stock market returns perfectly. There's tons of other research on valuation as a risk management tool (see Shiller's Irrational ExuberanceAdvanced Investing Books - Quantitative Investment Strategy (26)as another example), but these books are rare in providing you a well researched, fully-disclosed methodology. Use these books to better understand the roots of valuation based investment risk management.

Advanced Investing Books - Quantitative Investment Strategy (27)Advanced Investing Books - Quantitative Investment Strategy (28)

Being Right or Making MoneyAdvanced Investing Books - Quantitative Investment Strategy (29)This book isn't cheap, but hey, it's Ned Davis Research. What you get is a top-quality presentation of technical indicators. Of particular note is his explanation connecting quantitative investment discipline with the greatest investors of all time.

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The Handbook of Portfolio Mathematics: Formulas for Optimal Allocation & LeverageAdvanced Investing Books - Quantitative Investment Strategy (32)You can't declare yourself a "quant" if you haven't read Ralph Vince's writings, and this book provides as good an overview as any of Ralph's analysis. Not exactly a page turner, but this is mathematics we are dealing with.

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Quantitative Investment Analysis (CFA Institute Investment Series)Advanced Investing Books - Quantitative Investment Strategy (35)Let's finish this list with the textbook on quantitative analysis - literally. It is used for studying to prepare for the CFA designation.

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Advanced Investing Books - Quantitative Investment Strategy (2024)

FAQs

Which Peter Lynch book should I read first? ›

It makes sense that people would recommend Learn to Earn as the first of Lynch's books to read. It begins with an introduction to the history of capitalism and slides into the fundamentals of personal finance and investing, which even older kids in high school can benefit from.

What to read to understand investing? ›

  • The Bond King.
  • The Intelligent Investor.
  • Patient Capital.
  • The Billionaire's Apprentice.
  • The Ultimate Day Trader.
  • The Psychology of Money.
  • The Only Investment Guide You'll Ever Need.
  • Why Trust Investopedia?

What investment strategy has the highest return? ›

The U.S. stock market is considered to offer the highest investment returns over time. Higher returns, however, come with higher risk. Stock prices typically are more volatile than bond prices.

Is The Intelligent Investor A Good Book for a beginner? ›

“The Intelligent Investor” is a great book for beginners, especially since it has been continually updated and revised since its original publication in 1949. It is considered a must-have for new investors who are trying to figure out the basics of how the market works.

Which trading is best for beginners? ›

Day trading can be a bear fruits for beginners who are willing to put in the time and effort to learn the markets and develop their trading skills.

How to get 15% return on investment? ›

The rule says to achieve the goal of earning Rs 1 crore, an investor should invest Rs 15,000 monthly through SIP for 15 years, considering a 15% annual return from an equity fund.

How to get 10% return on investment? ›

Investments That Can Potentially Return 10% or More
  1. Growth Stocks. Growth stocks represent companies expected to grow at an above-average rate compared to other companies. ...
  2. Real Estate. ...
  3. Junk Bonds. ...
  4. Index Funds and ETFs. ...
  5. Options Trading. ...
  6. Private Credit.
Jun 12, 2024

What is the safest investment with the highest return? ›

Here are the best low-risk investments in July 2024:
  • High-yield savings accounts.
  • Money market funds.
  • Short-term certificates of deposit.
  • Series I savings bonds.
  • Treasury bills, notes, bonds and TIPS.
  • Corporate bonds.
  • Dividend-paying stocks.
  • Preferred stocks.
Jul 15, 2024

Did Warren Buffett read The Intelligent Investor? ›

At the age of 13, he filled out his first tax return, and at 19, he discovered his investing bible: The Intelligent Investor. The book, which was first published in 1949, was written by his professor Benjamin Graham. Since reading The Intelligent Investor, Buffett has closely adhered to Graham's principles.

What is the best book to start investing? ›

7 Best Investing Books for Beginners
  • Get a Financial Life: Personal Finance in Your Twenties and Thirties, by Beth Kobliner. ...
  • The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness, by Morgan Housel. ...
  • Investing Success, by Lynnette Khalfani-Cox.
Jul 17, 2024

Who is the smartest investor in the world? ›

Warren Buffett is widely considered the greatest investor in the world. Born in 1930 in Omaha, Nebraska, Buffett began investing at a young age and became the chairman and CEO of Berkshire Hathaway, one of the world's largest and most successful investment firms.

Do you have to read Great Plains trilogy in order? ›

I guess I would recommend reading Plainsong and Eventide in order, but it doesn't matter if you read Benediction before or after.

Should I read Peter Robinson books in order? ›

It is possible to read each of the novels without having read any of the others but some do contain major spoilers, so if you are intending to read more than one it is best to read them in chronological order.

Should I read the first law trilogy before a little hatred? ›

This is a new trilogy, and theoretically you could even start here with The Age Of Madness, though I recommend reading The First Law first. A Little Hatred takes place about three decades after the conclusion of The Last Argument Of Kings.

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