Best Investment Books 2026: 20 Timeless Classics for Smart Investors

Rule #1 Investors take a similar approach to billionaire Warren Buffett's views. It's only fitting that some of my favorite investing books are also some of Buffett's as well.

Buffett says that, “Knowledge builds up like compound interest.”

He actually devotes 80% of his day just to reading. Now, I know you probably have a job and other responsibilities. You probably can't devote that much time to reading. Regardless, I've got some great recommendations for you for this year.

You might be one book away from understanding value investing, risk management, and human nature in finance. Whether you’re a beginner or an advanced investor, the right books can transform your mindset.

Rule #1 Tip: Prioritize the ones that align with a value-based, long-term investing mindset. Books by or about Buffett, Munger, or other like-minded investors. These tend to reinforce the Rule #1 principle: “Don't lose money.” That's your north star.

Here's a list of 20 of the best investment books 2026 can offer. Including some of Buffett's favorites as well.

Best Investing Books for Beginners

1. The Intelligent Investor by Ben Graham

This 1949 book focused on Graham's strategy of loss minimization over profit maximization. This is the basic foundation of a Rule #1 education. It is a good investing book for beginners. Buffett wrote a preface and appendix to the 2006 edition.

Description: This classic text is annotated to update Graham's timeless wisdom for today's market conditions.

The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of “value investing” has made The Intelligent Investor the stock market bible. This philosophy has shielded investors from substantial error. It taught them to develop long-term strategies.

Ever since its original publication in 1949, this has been every beginner's go-to book. You'll gain a deep understanding of the basic principles of intrinsic value. You'll know how to build a sound investment strategy from the ground up. Get it here.

Rule #1 Insight: Buffett has often referred to chapters 8 and 20 of this book as the bedrock of his investing philosophy. Chapter 8's discussion of “Mr. Market” is particularly important for starting investors. It helps you understand the mindset needed to buy wonderful companies at attractive market prices.

2. The Education of a Value Investor: My Transformative Quest for Wealth, Wisdom, Enlightenment by Guy Spier

Guy Spier is a good friend, a great investor, and also a past guest on our podcast. His journey is a perfect example of how value investing shapes successful investors.

Description: This book traces the arc of a transformation. Guy Spier, started his career as a Gordon Gekko wannabe. Brash, short-sighted, and entirely out for himself. Then, a series of transformations and self-realization led him to where he is now.

From a short-sighted investment banker to a fund manager who consistently delivers value to his limited partners. Along the way, he shares lessons that are invaluable for anyone interested in investment management. Or, if you're seeking a business school education in real-world investing. Get it here.

3. The Dhandho Investor by Mohnish Pabrai

Mohnish Pabrai demonstrates how the principles of investing can help you start with little. From there, you can build substantial wealth. The Dhandho method is a practical guide for identifying undervalued stocks.

Description: This comprehensive framework is ideal for those interested in learning how to analyze market price. You'll know how to assess intrinsic value and apply business fundamentals to the stock market. Pabrai’s approach is rooted in the best practices of investment strategy and risk management. Get it here.

4. Rule #1 by Phil Town

This book combines modern tools with Buffett-style investing. It takes you step-by-step through the analysis process. A must-read for new investors.

Description: Phil Town is now a very wealthy man, but he wasn't always. In fact, he was living on a salary of $4000 a year. One day, some well-timed advice launched him down a highway of investing self-education. This revealed what the true “rules” are and how to make them work in one's favor.

Chief among them, of course, is “Rule #1: Don't lose money.”

Other rules are: "don't diversify", "think like an owner, not an investor", "never, ever be seduced into thinking the market is efficient". Town also believes strongly in “betting on the jockey". You put your faith in managers who've proven their financial mettle.

This book also introduces the concept of the Four Ms of Rule #1 Investing: Meaning, Moat, Management, and Margin of Safety. These help investors decide if a business is worth buying at the right price. It's a modern roadmap for Buffett-style investing with real-world applications. Get it here.

Warren Buffett Recommended Value Investing Books

Warren Buffett is one of the most successful investors of all time. These top books, written by or about him, are must-reads for any value investor.

5. The Making of an American Capitalist by Roger Lowenstein

Warren Buffett has become an American icon for good reason. He started simple, invested consistently, and lived modestly. Soon, he built a ridiculous fortune. In my opinion, this is just the best book ever written about Warren Buffett.

It's worth a read. Or, reread, if you've read it before. I'm on my third read.

This book also digs deep into the deals Buffett made and why he chose them. It's a timeless handbook on investing. It takes a hard look at the way Buffett's values drove his investment choices. You can't go wrong with this one. Get it here.

6. The Essays of Warren Buffett by Lawrence Cunningham

Perhaps one of the best investing books of all time. This timeless literary feat consists of key letters from Buffett to his general partners. This is seminal wit and wisdom.

Description: The year 2015 marks the fiftieth anniversary of Berkshire Hathaway under Warren Buffett's leadership. The tenure sets a record for a chief executive in value creation and philosophizing.

This is the book Buffett autographs most. Its lasting popularity proves investors value this unique and accessible collection. New and experienced readers alike will gain an invaluable informal education from this. Get it here.

7. The Super-Investors of Graham-and-Doddsville by Warren Buffett

This is Buffett's lecture to Columbia University MBA students. You can find the free PDF on Google orhere. This is a key work about the foolishness of Modern Portfolio Management's claim.

It attests that no one beats the market except by luck. Buffett highlights real-world examples, including legendary investors from the Sequoia Fund, and more.

8. Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger by Peter D. Kaufman

This book is a hot mess but it's packed full of Munger's ideas on investing.

Description: Poor Charlie's Almanack contains the wit and wisdom of Charlie Munger: his talks, lectures, and public commentary. And, it has been written and compiled with both Charlie Munger and Warren Buffett.

Settle in and enjoy Charlie Munger’s unique humor, wisdom, and insight on business, investing, and life. Get it here.

Good Books Phil Town Recommends for Rule #1 Investors

9. Misbehaving: The Making of Behavioral Economics by Richard Thaler

Misbehaving is written by a Nobel Prize laureate who practically pioneered the field of behavioral economics. You don't need to know economics or even like it to benefit from this book.

This book frames the study of economics wonderfully. It's highly relevant for anyone who wants to learn more about investing.

Description: Misbehaving is an arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth. It can change the way we think about economics, ourselves, and our world. Get it here.

10. Conscious Capitalism: Liberating the Heroic Spirit of Business by John Mackey

One of the great CEOs talks about investing with integrity and leaving a positive impact on the world.

Description: Read this book, and you'll better understand the four important tenets. Namely, higher purpose, stakeholder integration, conscious leadership, and conscious culture and management.

These can help build strong businesses. It's known to move capitalism closer to its highest potential. Lastly, it fosters a more positive environment for all of us. You'll know not just handle your own, but also other people's money and life. Get it here

11. Security Analysis by Ben Graham and David Dodd

This is the foundation textbook of value investing. It's a tough read, but if you want to drill down on the numbers, this is your huckleberry.

“A road map for investing that I have now been following for 57 years.” –From the Foreword by Warren E. Buffet.

First published in 1934, Security Analysis is one of the most influential financial books ever written. It has sold more than one million copies through five editions. This provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd.

Rule #1 Reminder: While this book is dense, it lays the groundwork for financial analysis. Most especially when evaluating intrinsic value. Combine this with modern tools like our investment calculators to streamline the calculations for margin of safety and ROIC. Get it here.

12. Common Stocks and Uncommon Profits by Philip Fisher

An interesting book on choosing investments. Know how to evaluate a company's management team and understand stock prices. Fisher is one of the few guys Buffett points to as an influence on his investment strategy.

Description: Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies are not only studied and applied by today's financiers and investors. They are also regarded by many as gospel.

This book is invaluable reading and has been since it was first published in 1958. Get it here.

13. Business Adventures by John Brooks

This is the book that Buffett sent to Bill Gates when he asked Warren what his favorite book is. Twelve tales from the world of business that point to how critical management is.

Description: What do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common?

Each is an example of how an iconic company was defined by a particular moment of fame or notoriety on Wall Street. These notable and fascinating accounts are as relevant today for understanding the intricacies of corporate life as they were when the events happened. Get it here.

14. The Outsiders by William Thorndike

Stunning portraits of how a great CEO allocates capital to maximize shareholder return.

Description: What makes a successful CEO? Most people call to mind a familiar definition: “a seasoned manager with deep industry expertise.” Others might point to the qualities of today's so-called celebrity CEOs. Someone with charisma, virtuoso communication skills, and a confident management style.

But what really matters when you run an organization? What is the hallmark of exceptional CEO performance? Quite simply, it is the returns for the company shareholders over the long term.

In this refreshing, counterintuitive book, Will Thorndike brings to bear the analytical wisdom of a successful career in investing. He closely evaluated the performance of companies and their leaders. You will meet eight individualistic CEOs whose firms' average returns outperformed the S&P 500 by a factor of twenty. Get it here.

15. Antifragile by Nassim Talib

This is another ‘stream of consciousness' opus from Talib. It spells out how fragility is at the heart of investment failure. Consequently, anti-fragile strategies are the key to long-term success.

Description: Nassim Nicholas Taleb, the bestselling author of The Black Swan and one of the foremost thinkers of our time, reveals how to thrive in an uncertain world.

Many things in life benefit from stress, disorder, volatility, and turmoil. Just as human bones get stronger when subjected to stress and tension. Or, rumors or riots intensify when someone tries to repress them. What Taleb has identified and calls “antifragile” is that category of things that not only gain from chaos but need it in order to survive and flourish. Get it here.

16. Simple But Not Easy: An Autobiographical Book about Investing by Richard Oldfield

Simple But Not Easy has plenty of interest to the experienced professional and is also aimed at the interested amateur investor. The theme of the book is that making smart investments is simpler than non-professionals think it is. The rudiments can be expressed in ordinary English, and picked up by anybody. Get it here.

17. Irrational Exuberance by Robert Shiller

Shiller’s analysis of market bubbles, interest rates, and psychological factors is as relevant as ever. His research shows how investor sentiment can sway stock prices. It highlights the risks in financial markets.

A must-read for those interested in understanding the cyclical nature of markets and the influence of human psychology. In other words, Irrational Exuberance is more relevant than ever. Get it here.

18. Principles, by Ray Dalio

This book is part memoir, part how-to guide for crafting the life you want based on the principles that matter to you. You'll find immense practical wisdom here from a legend who runs the most valuable hedge fund in the world.

And it's not just for wealthy CEOs: there's wisdom in here for everyone, but the emphasis is on leading and building what you want through unshakeable principles. Get it here.

19. The Investment Checklist: The Art of In-Depth Research by Michael Shearn

Too many people base their investment decisions on their impressions of a company's welfare, stock market swings, or other emotional factors. And that's a mistake. The book gives you a framework to deeply understand the businesses you're investing in so you can make balanced, logical decisions about your investments.

It's hard to get an investment checklist just right, and I like certain parts of it, but this book gives you a great framework to get started.

BONUS TIP: Use this book as a companion to building your own investing checklist based on Rule #1's Four Ms. Customize it over time as you learn more about evaluating business quality and leadership. Get it here.

20. Prisoners of Geography: Ten Maps that Explain Everything About the World (Politics of Place), by Tim Marshall

This one isn't specifically a finance book, but it's a solid read that will give you a more robust understanding of the forces driving the markets. You'll learn about borders and world powers that make all the difference in today's financial world. Get it here.

Bonus Great Reads by Phil Town for Rule #1 Investors

If you’re looking to expand your bookshelf beyond the classics, consider these standout titles:

Invested by Danielle and Phil Town

This father-daughter guide breaks down the process of becoming a confident investor. The book offers a step-by-step approach as Danielle, a complete beginner, learns how to analyze companies.

She found out how to interpret financial statements and overcome the emotional hurdles of investing. Readers follow along as she moves from uncertainty to confidence. She gained hands-on tools for evaluating stocks and building an investment plan. Something we can all learn from. Get it here.

Payback Time by Phil Town

In “Payback Time,” Phil Town introduces the concept of “stockpiling”. This is a way to profit from undervalued stocks and market fluctuations. The book dives into how to spot market inefficiencies and calculate margins of safety.

Description:

Phil explains how individual investors can capitalize on market downturns and use patience as a competitive advantage. With practical case studies and clear explanations, “Payback Time” provides a blueprint for investors. It's for everyone who wants to take control and get paid back for their patience and discipline. Get it here.

Get the Most Out of These Investing Books (Note Taking, Editorial Reviews, and more)

These learnings are nothing if you don't maximize them. Try these:

• Take notes. Consider building your own investment checklist based on what you learn.

• Use digital resources for accessibility. Download the Kindle app or use QR codes to download books.

• Check reviews for additional insights.

• Share your own thoughts to connect with other investors.

• Apply the principles and strategies from these books.

These books provide powerful knowledge to startup owners and industry leaders alike. Each one can help you learn to make smarter decisions and forge long-term success.

Final Thoughts

The best investment books of 2026 offer timeless wisdom for every stage of your investing journey. Beginners and experienced investors alike can use these books to think more clearly and manage risk.

Each book supports the Rule #1 philosophy: buy great businesses at good prices and never lose money.

As Warren Buffett says, "knowledge compounds". So start building your investor mindset today with one of these top reads.