Here are 99 books that Think Twice fans have personally recommended if you like
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I’m a money manager for high-net-worth individuals. During my Wall Street years, I was ranked number one in my category in the Institutional Investor All America Research Survey for nine consecutive years. The CFA Society New York presented me its Ben Graham Award in 2017. I’ve served as a governor of the CFA Institute and consultant to the Federal Reserve Board of Governors. My writings have appeared in the Wall Street Journal, Barron’s, the Financial Times, and various scholarly journals. I live in New York City with my wife, musicologist Elaine Sisman. We have two children and five grandchildren.
As head of the Yale University endowment fund, the late David Swensen was one of the foremost innovators and most successful practitioners of institutional investing. Remarkably, he also wrote one of the best books ever for individual investors. Unconventional Success shows why on average, mutual fund investors significantly underperform the funds they own: They trade excessively, buying at the highs and selling at the lows, creating tax inefficiencies in the process. Swensen also valuably details hazards to avoid in fund selection.
In UNCONVENTIONAL SUCCESS, investment legend David Swensen reveals why the for-profit mutual fund industry consistently fails the average investor, from its excessive management and incentive fees to the frequent 'churning' of portfolios that forces investors to pay higher taxes. Perhaps most destructive of all are flagrant schemes designed to thwart regulators and further erode portfolios, limiting investor choice and reducing returns. Swensen's solution? A 'contrarian' investment alternative that creates more diversified, equity-oriented, 'market-mimicking' portfolios that minimize loss and reward the investor with the courage to stay the course. Swensen backs up his unconventional proposal with well-documented evidence supporting not-for-profit investment…
The Smart Mission brings together NASA’s most important lessons on how people, knowledge, and systems shape complex projects.
Drawing on decades of experience at NASA—including my time as the agency’s first Chief Knowledge Officer—this book explains why mission success depends less on process and more on culture, learning, and collaboration.…
I’ve been interested in investing for over four decades since I started as a finance PhD student at Wharton. Since then my research has focused on understanding the stock market. Early on, I tried applying my research to my investing. For example, I was convinced that a recently listed stock called Google was way overvalued—was I ever wrong! That got me to reflect on my investment philosophy—what did I truly believe about how markets really behaved? That brought me back to understanding and appreciating the contributors to Modern Portfolio Theory, which led to a fun decade-long book project. Currently I enjoy writing about investing through my blog.
I had the pleasure of interviewing Charley for our book.
He’s a great storyteller. He was probably the first practitioner to advocate for passive index investing. He’s a tennis enthusiast, and his book was inspired by a book he read aimed at amateur tennis players. Ellis learned that to win at tennis, the best strategy is to simply try to not lose, and to not try to act like professional players.
He realized that the same strategy worked for investors as well. That means that investors shouldn’t try to beat the market.
The definitive guide to long-term investing success-fully updated to address the realities of today's markets
Technology, information overload, and increasing market dominance by expert investors and computers make it harder than ever to produce investing results that overcome operating costs and fees. Winning the Loser's Game reveals everything you need to know to reduce costs, fees, and taxes, and focus on long-term policies that are right for you.
Candid, short, and super easy to read, Winning the Loser's Game walks you through the process of developing and implementing a powerful investing strategy that generates solid profits year after year. In…
I’m a money manager for high-net-worth individuals. During my Wall Street years, I was ranked number one in my category in the Institutional Investor All America Research Survey for nine consecutive years. The CFA Society New York presented me its Ben Graham Award in 2017. I’ve served as a governor of the CFA Institute and consultant to the Federal Reserve Board of Governors. My writings have appeared in the Wall Street Journal, Barron’s, the Financial Times, and various scholarly journals. I live in New York City with my wife, musicologist Elaine Sisman. We have two children and five grandchildren.
Forget bromides such as buying a stock because your experience with the company’s product has been good. The hugely successful money manager Howard Marks makes the essential point that the goal is not to find good companies but to make good purchases. “It’s not what you buy,” he says, “it’s what you pay for it.” Investors who are interested in good outcomes rather than thrills will find many more sound principles in this book.
"This is that rarity, a useful book."--Warren Buffett Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, all readers can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and seasoned investor. Informed by a lifetime of experience and study,…
The Smart Mission brings together NASA’s most important lessons on how people, knowledge, and systems shape complex projects.
Drawing on decades of experience at NASA—including my time as the agency’s first Chief Knowledge Officer—this book explains why mission success depends less on process and more on culture, learning, and collaboration.…
I’m a money manager for high-net-worth individuals. During my Wall Street years, I was ranked number one in my category in the Institutional Investor All America Research Survey for nine consecutive years. The CFA Society New York presented me its Ben Graham Award in 2017. I’ve served as a governor of the CFA Institute and consultant to the Federal Reserve Board of Governors. My writings have appeared in the Wall Street Journal, Barron’s, the Financial Times, and various scholarly journals. I live in New York City with my wife, musicologist Elaine Sisman. We have two children and five grandchildren.
Financial journalist Jason Zweig shows how the young field of neuroeconomics explains the biological factors underlying smart people’s irrational investment decisions. For example, brain scans show that the fear center lights up when investors consider putting money into foreign stocks, despite the demonstrated value of international diversification. Also to their detriment, investors perceive patterns of returns where none exist. It’s imperative to understand these cognitive errors to get proper control over investments.
I’ve long been fascinated by money and wealth and people’s relationship to them. I started my career as an estate planning attorney and then broadened my expertise to investing. I know that investing can seem scary due to the complexity of the financial markets and the overwhelming amount of investment products and strategies. But successful investing doesn’t have to be hard or scary. With the proper guidance, anyone can embark on a strategy of creating wealth through investing. Reading the right book is a good first step in the right direction.
The Success Equation is my favorite investment book.
In it, Mauboussin tackles a significant question in investing: to what extent can investment results be attributed to skillversus luck? Mauboussin introduces the skill-luck continuum to explain this, with competitions like chess and running races being at the skill end and games like roulette and slot machines being at the luck end.
Sports such as football and basketball are closer to the skill side, while investing is closer to the luck side. Using this model, Mauboussin provides useful tools for evaluating investment opportunities while considering skill and luck.
"Much of what we experience in life results from a combination of skill and luck." -- From the Introduction The trick, of course, is figuring out just how many of our successes (and failures) can be attributed to each--and how we can learn to tell the difference ahead of time. In most domains of life, skill and luck seem hopelessly entangled. Different levels of skill and varying degrees of good and bad luck are the realities that shape our lives--yet few of us are adept at accurately distinguishing between the two. Imagine what we could accomplish if we were able…
As an archaeologist, I love prehistoric things and what can I learn from them about the people that made them and left them behind. I study ancient Maya commoners in what is now modern Guatemala. Their material remains are humble but include depictions and symbols normally found in the palaces of Maya kings and queens. First I wondered and then I studied how the title-giving war owl fell into the hands of Maya commoners. By approaching this process as innovation, I discuss creativity in the past and cultural changes that result from it.
This book introduced the concept of nudging into the public discourse, and I guess all of us have encountered it one way or the other. How many reminders have I gotten to sign up for this or that program?… Alas, I love Thaler and Sunstein's concept of choice architects. It made me think about power as a capacity to affect not only people but also the very framework in which people make decisions.
The original edition of the multimillion-copy New York Times bestseller by the winner of the Nobel Prize in Economics, Richard H. Thaler, and Cass R. Sunstein: a revelatory look at how we make decisions—for fans of Malcolm Gladwell’s Blink, Charles Duhigg’s The Power of Habit, James Clear’s Atomic Habits, and Daniel Kahneman’s Thinking, Fast and Slow
Named a Best Book of the Year by TheEconomist and the Financial Times
Every day we make choices—about what to buy or eat, about financial investments or our children’s health and education, even about the causes we champion…
Having begun my career in publishing, I worked for many years as a management consultant and trainer; alongside that, I have written and published many books offering advice on management, marketing, and job skills, like the time management book shown above, a bestseller now in its sixth edition. I have always thought management often fails by overlooking the importance of issues rather than finding things difficult; I hope my business writing helps identify priorities and shows that the deployment of various techniques and skills can be manageable–and useful.
This was perhaps the first bestselling business book and became a classic. Drucker coined many maxims, for example, saying that if you don’t know where you are going, any road will do. This is obvious, but how many flounder for lack of clear objectives?
Good, sound common sense is here that stands a new look in the present day, even if it comes from a time when legislation and political correctness made things more straightforward while leaving some current issues unaddressed.
The measure of the executive, Peter F. Drucker reminds us, is the ability to "get the right things done." This usually involves doing what other people have overlooked as well as avoiding what is unproductive. Intelligence, imagination, and knowledge may all be wasted in an executive job without the acquired habits of mind that mold them into results.
Drucker identifies five practices essential to business effectiveness that can, and must, be learned: Managing time Choosing what to contribute to the organization Knowing where and how to mobilize strength for best effect Setting the right priorities…
It might be a stretch to call me an expert in ethics, but I have taught ethics for more than 30 years and I’ve read deeply in the field of behavioral ethics. I'm proud of the work I’ve done with the Ethics Unwrapped video project, though most of the credit goes to filmmakers Cara Biasucci (co-author of Behavioral Ethics in Practice: Why We Sometimes Make the Wrong Decisions) and Lazaro Hernandez (producer ofEthics Unwrapped). My passion for this topic is driven largely by the fact that I want my two daughters to live in a world where most people are trying to do the right thing most of the time.
Love this book! This is a foundational behavioral ethics book, written by two giants in the field—psychologists Bazerman of Harvard Business School and Tenbrunsel of Notre Dame.
It is research-based, yet very accessible to the novice, directly addressing, as the title indicates, why people sometimes mess up and how they can avoid it. It introduces the reader to cognitive biases and other influences that can fool people’s brains into making poor moral choices.
Blind Spots was an invaluable resource for Cara Biasucci and me for many of the 150 or so videos we have produced for Ethics Unwrapped.
When confronted with an ethical dilemma, most of us like to think we would stand up for our principles. But we are not as ethical as we think we are. In "Blind Spots", leading business ethicists Max Baseman's and Ann Tenbrunsel examine the ways we overestimate our ability to do what is right and how we act unethically without meaning to. From the collapse of Enron and corruption in the tobacco industry, to sales of the defective Ford Pinto, the downfall of Bernard Madoff, and the Challenger space shuttle disaster, the authors investigate the nature of ethical failures in the…
I have been studying how leaders and their teams make complex decisions for the past 25 years. As a professor, I am passionate about teaching students and managers. My published work includes three books, as well as numerous best-selling management case studies. I have served on the faculty at Bryant University in Rhode Island for the past 16 years, and prior to that, I served on the faculty at Harvard Business School for 6 years.
I found Russo & Schoemaker’s book to be a useful, practical, step-by-step guide for refining the way I make decisions. They inspired me to think about why I make flawed choices at times, as well as why the teams on which I work might stumble as well. In my work, I’ve been able to then employ some of the techniques they describe for overcoming various decision-making biases and obstacles. As you read the book, you will find tips that you can use right away in your personal lives and professional work.
Business revolves around making decisions, often risky decisions, usually with incomplete information and too often in less time than we need. Executives at every level, in every industry, are confronted with information overload, less leeway for mistakes, and a business environment that changes rapidly. In light of this increased pressure and volatility, the old-fashioned ways of making decisions–depending on intuition, common sense, and specialized expertise–are simply no longer sufficient. Distilling over thirty years of groundbreaking research, Winning Decisions, written by two seasoned business advisers and world leaders in behavioral decision studies, is a comprehensive, one-of-a-kind guide to the proven methods…
Trained as an artist, through my work as a college professor I became committed to helping others cultivate and expand their creativity. It has always been heartbreaking to hear friends and acquaintances bemoan their lack of creativity simply because they hadn't developed drawing skills. Creativity is a human characteristic that can be developed in any discipline and with practice and encouragement, is available to anyone. In my reading and my writing, I seek a combination of accessibility and substance. If a book is engaging enough to read at the beach yet substantial enough to provide fuel for thought long afterward, it is a winner!
This eye-opening and informative book provides vivid examples of small problems that became real tragedies due to inaction, miscommunication, and poor decision-making. By looking upstream to seek and address root causes of problems, we can save money, improve lives, and increase productivity. I loved the gripping examples Dan Heath used in this book. It was as engaging as reading a novel, yet provided substantial information based on careful research.
New York Times bestselling author Dan Heath asks what happens when we take our thinking upstream and try to prevent problems before they happen.
When we shift our energies upstream, we stop dealing with the symptoms of problems and we start fixing problems.
If we can stop crimes from being committed, we do not need to work to 'solve' crimes. If we can prevent chronic diseases from developing, we do not need to treat these diseases. If we can provide affordable housing, we do not need to provide shelter for the homeless. Looking to business, politics, and society, Dan Heath…
