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Top 5 classic books to improve financial literacy and prepare for the first steps on the exchange


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Quarantine is a great time to improve financial literacy and understand investment issues. We have prepared a list of five classic books translated into Russian, the reading of which will allow you to understand the philosophy of the world's leading investors and study the factors on which they rely when making decisions.

Note : to make real stocks on the stock exchange you need a brokerage account, you can open it online . At first, it’s better to train using a test account with virtual money .

“ Rich Dad, Poor Dad: What Rich Parents Teach Children - and Poor Do Not Teach, ” Robert Kiyosaki




A book that is great for beginner investors. The book of the American writer, entrepreneur and investor Robert Kiyosaki, talks about the difference in approaches of the poor, middle class and wealthy members of society. One of the ideas is that while the representatives of the first two groups are working to get money, the latter are wasting energy on getting knowledge.

The author points out the importance of financial literacy, which helps achieve financial independence and break out of the vicious circle of the corporate world. In particular, according to Kiyosaki, it is important to understand what in reality is and what is not an asset. For example, many people consider real estate to be an asset, but it can constrain available funds and require costs, while real “assets” make a profit. Another important topic discussed in the book is tax burden planning.

" Essay on investments, corporate finance and management company ," Warren Buffett




For many years, Warren Buffett has been considered one of the most successful global investors. The Oracle of Omaha is one of the richest people in the world, and its investment company Berkshire Hathaway has participated in many high-performing deals.

The book includes Buffett letters to shareholders of the company, written over several decades. In them, Buffett reveals his approaches to investment, business and asset management. The book is useful not only for those who want to understand the economic intricacies, but also for company leaders.

" Beat the Wall stri t" Peter Lynch




The book, first published in 1993, is the authorship of a successful investor and one of the leading hedge fund managers of the last century. Lynch began as an intern at Fidelity Investments in the mid-60s of the 20th century. After 11 years, he became the managing director of the Magellan Fund, which managed $ 18 million. By 1990, Lynch had increased the fund's assets to $ 14 billion. The average return was approximately 29.2% per annum.

In his book, Lynch describes in detail the mechanics of making investment decisions, the factors that influence the decision to buy or sell shares. The author is convinced that a private investor can find and exploit market inefficiencies better than Wall Street analysts, especially if it invests in areas that it understands.

" The Intelligent Investor ," Benjamin Graham




The book was written in 1949, and it was Warren Buffett who called it the best investment book ever written. Benjamin Graham is considered the father of "value investing." This approach involves finding and buying stocks that are clearly undervalued in terms of fundamental analysis.

Graham writes about the history of the stock market, talks about the principles of fundamental analysis. An important topic in the book is the management of the investment portfolio in different situations; the author considers protective and aggressive strategies for market behavior. The theses expressed in the book are illustrated by examples from practice.

" Think and Grow Rich " by Napoleon Hill




Think and Grow Rich was written during the Great Depression, with which many experts are already comparing the current economic situation. Hill describes the principles of success and professional development. Among them are education and obtaining specialized knowledge, building the right circle of contacts, etc.

The book gives a good understanding of the psychology of success and people's behavior in stressful situations - knowledge that is especially relevant in times of large-scale crises like the current one. One of the main ideas of the book is that you cannot become a successful investor overnight, the best of them spend years developing skills, analysis and practice.

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