(번역진행중)The Most Important Finance Books Ever Written(www.businessinsider.com)

가장 중요한 finance책 번역_진행중.-> 이후에 한국책 목차까지

investment books are a dime a dozen. Book stores have sections devoted to 

investing in the stock market, personal finance, and how to 'get rich quick.'

These 21 selected books appear on must-read lists over and over.  They are the 

best finance books ever written, and the list should save you some time when 

perusing a book store or online searches.

Many of the books are niche investment books, focusing on the bond market, 

futures market, or some other particular feature of investing. Others get down to 

the basics and have been pillars of the investing world for decades.

Benjamin Graham, 'The Intelligent Investor'

Benjamin Graham, '<a 

href=http://www.amazon.com/gp/product/0060555661/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0060555661>The 

Intelligent Investor</a>'

Benjamin Graham was a mentor to Warren Buffett, and is considered to be the 

father of value investing, which Graham became famous for in both his teachings at 

Columbia Business School and in his book, Security Analysis.

'Security Analysis' is the longest running investment text ever published, and 'The 

Intelligent Investor' was called "the best book about investing ever written" by 

Warren Buffett.

John Burr Williams, 'The Theory of Investment Value'

John Burr Williams, '<a 

href=http://www.amazon.com/gp/product/087034126X/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=087034126X>The 

Theory of Investment Value</a>'

John Burr Williams was one of the first financiers to utilize the discounted cash flow 

theory, which is still an extremely popular method for company evaluation.

Williams is a founder of fundamental analysis and his 1938 book, 'The Theory of 

Investment Value', is one of the most popular investing books in history. In this 

book, he articulates the DCF theory and focuses heavily on dividend based 

valuation.

Williams held four Harvard degrees and taught economics at the University of 

Wisconsin. Along with 'The Theory of Investment Value', Williams published 

'International Trade Under Flexible Exchange Rates' in 1954 as well as many articles 

for economic journals.

Philip Fisher, 'Common Stocks and Uncommon Profits'

Philip Fisher, '<a 

href=http://www.amazon.com/gp/product/0471445509/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0471445509>Common 

Stocks and Uncommon Profits</a>'

Wikimedia Commons

Philip Fisher's book, which was published in 1958 and titled 'Common Stocks and 

Uncommon Profits' contains many studies that are still applied heavily by investors 

nearly 50 years later. It was the first ever investment book to make the New York 

Times bestseller list.

Fisher's claim to fame was his focus on growth investing. Along with his writing, 

Fisher founded Fisher and Company, a money management firm, in 1931. He is 

famous for buying shares in Motorola in 1955 and holding those shares until his 

death in 2004. In Fisher's opinion, the best time to sell a stock is "almost never."

<<finance의 101 같은 책, finance와 투자에 있어서의 기본적인 작업들>_맨투

맨 영문법 기본 책 같은 책. 수학의 정석 기본 같은 책.

Eugene Fama, 'The Foundations of Finance'

Eugene Fama, The Foundations of Finance'

Eugene Fama received his undergraduate degree from Tufts University and his MBA 

from the Booth School of Business at the University of Chicago. He continued to 

teach at the University of Chicago after receiving his Ph.D.  He's known as the 

father of the efficient market hypothesis.

'The Foundations of Finance: Portfolio Decisions and Securities Prices' is one of 

many pieces of work by Fama, and covers many of the ground works of finance 

and investment practices. Fama has published many works for journals and other 

publications, but 'Foundations of Finance' is a highly recommended text.

Eugene Fama, The Foundations of Finance'

Eugene Fama는 Tufts University에서 학사학위를 받고, MBA 는 Booth School of 

Business at the University of Chicago에서 교육받았다. Ph.D학위를 받고 나서  

University of Chicago에서 계속 가르쳤고, '효율적시장 가설'의 아버지로 알려

져있다.

'The Foundations of Finance: Portfolio Decisions and Securities Prices';finance의 기

본: 투자자산 구성의 선택과 보험 가격'(책)은 그의 많은 업적의 하나이다.그

리고 finance의 많은 기본적 작업(업무)에 대한 내용을 다루고, 투자 실전에서

의 기본적 작업들도 또한 다룬다. Fama 많은 출판물과 저널들을 썼는데, 단

연 지금 이책 The Foundations of Finance가 최고의 책이라 추천을 받는다.

Peter Lynch, 'One Up On Wall Street'

Peter Lynch, 'One Up On Wall Street

Peter Lynch는 research consultant로서 Fidelity Investments사에서 일했다.  

Boston College에서 학사 학위를 받고,MBA는 Wharton School of the University 

of Pennsylvania에서 받았다. 투자자산 구성 매니져로서, Lynch 는 Fidelity사의 

Magellan Fund  $18 million in assets을 운용하여 $14 billion으로 만들고 은퇴하였

다.

Lynch 의 유명한 2개의 책이 있는데, 'One Up On Wall Street'과 'Beating the 

Street.'이다.  첫번째 책은 Lynch의 투자 테크닉을 묘사하면서 그의 많은 이론

들을 제공한다. 두번째 책은 앞서 언급했던 이론들을 실제로 적용하는 방법

과 실제로 자신이 투자했던 많은 주식들과 자신이 만든 포트폴리오를 자세

히 설명한다. 

Aswath Damoradan, 'Damodaran on Valuation'

Aswath Damoradan, '<a 

href=http://www.amazon.com/gp/product/0471751219/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0471751219>Damodara

n on Valuation</a>'

Damodaran / NYU

Aswath Damodaran, NYU

Aswath Damodaran is the legendary finance professor at the Stern School of 

Business at New York University. He teaches both corporate finance and equity 

finance, and graduated from UCLA, The Indian Institute of Management Bangalore, 

and Madras University.

One of Damodaran's many books, 'Damodaran on Valuation' is his most popular 

book, in which he elaborates on which models to utilize in any valuation scenario.

Jeremy Siegel, 'Stocks for the Long Run'

Jeremy Siegel, '<a 

href=http://www.amazon.com/gp/product/0071494707/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0071494707>Stocks 

for the Long Run</a>'

Bloomberg TV

Jeremy Siegel is a finance professor at the Wharton School of the University of 

Pennsylvania, and contributes regularly to nearly every financial television network 

and also Yahoo! Finance. Siegel completed his undergraduate studies from 

Columbia University and received his Ph.D. from MIT.

Siegel's most popular book is 'Stocks for the Long Run.' In this book, he argues 

that the stock market is actually very safe as he details the history of the stock 

market and why investing in stocks long-term is a wise decision. Siegel states that 

he would much rather see investors push for long-term, diversified investments 

rather than pursuing hot stocks or trying to time the market.

Robert Shiller, 'Irrational Exuberance'

Robert Shiller, '<a 

href=http://www.amazon.com/gp/product/0767923634/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0767923634>Irrational 

Exuberance</a>'

Robert Shiller is an economics professor at Yale University and is one of the 

developers of the Case-Shiller index. Shiller graduated from the University of 

Michigan and received his masters and Ph.D. from MIT.

Shiller authored 'Irrational Exuberance' looks at the market crash of 2000, when the 

first edition of the book was published. He had predicted the peak and crash, but 

was not attempting to educate potential investors on market timing, but rather on 

understanding long-term investments.  The second edition of the book predicted 

the housing market crash.

John Murphy, 'Technical Analysis of the Futures Market'

John Murphy, '<a 

href=http://www.amazon.com/gp/product/0735200661/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0735200661>Technical 

Analysis of the Futures Market</a>'

Amazon

John Murphy is widely considered to be the father of inter-market technical analysis. 

He graduated from the University of Rhode Island with a degree in Economics and 

also received his MBA from URI.

Murphy's book, 'Technical Analysis of the Futures Market' has a rather straight 

forward title. Murphy provides a history of the futures market and conversationally 

discusses how to attack a very complex market. While this is a niche book, there is 

likely no better book in regards to analyzing the future market than Murphy's book.

Robert C. Merton, 'Continuous-Time Finance'

Robert C. Merton, '<a 

href=http://www.amazon.com/gp/product/0631185089/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0631185089>Continuo

us-Time Finance</a>'

Amazon

Robert C. Merton is a professor at the MIT Sloan School of Management and Nobel 

laureate in Economics. He received his undergraduate degree from Columbia 

University and received his masters from the California Institute of Technology, as 

well as a doctorate in economics from MIT. Merton also co-founded Long-Term 

Capital Management.

Merton's book 'Continuous-Time Finance (Macroeconomics and Finance)' dives into 

modern finance and as the title states, continuous-time finance. The book is a 

collection of papers written by Merton over 25 years, and the combination of the 

papers makes for one of the most intellectually stimulating investment books ever 

created.

John Bogle, 'Common Sense on Mutual Funds'

John Bogle, '<a 

href=http://www.amazon.com/gp/product/0470138130/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0470138130>Common 

Sense on Mutual Funds</a>'

John Bogle founded and was the CEO of The Vanguard Group before his retirement. 

He earned his undergraduate degree from Princeton University.

'Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor' is 

nearly universally known as a must read among anyone who wants to learn about 

investing. Bogle elaborates on investment strategies, mutual fund values, and uses 

quantifiable reasoning to come to his conclusions. Three main keys that Bogle 

notes are to stay the course, that impulse is your enemy, and that time is your 

friend.

Warren Buffett, 'The Essays of Warren Buffett'

Warren Buffett, '<a 

href=http://www.amazon.com/gp/product/0966446127/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0966446127>The 

Essays of Warren Buffett</a>'

www.cbsnews.com

Warren Buffett is one of, if not the, most popular investors in the history of the 

world. Buffett graduated from the University of Nebraska at the age of nineteen and 

earned his masters in economics from Columbia, under the teachings of Benjamin 

Graham and David Dodd.

'The Essays of Warren Buffett: Lessons for Corporate America' is a series of letters 

that Buffett sent to shareholders of his company, Berkshire Hathaway. The letters 

serve as an education of business principles and concepts that he has utilized 

throughout the existence of his tremendously successful company, and provide a 

first hand look at how he has made his business so successful.

Anthony Crescenzi, 'The Strategic Bond Investor'

Anthony Crescenzi, '<a 

href=http://www.amazon.com/gp/product/0071667318/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0071667318>The 

Strategic Bond Investor</a>'

Bloomberg

Anthony Crescenzi is a graduate of the City University of New York and also 

received his MBA from St. John's University. Currently, Crescenzi is an executive 

vice president, market strategist, and portfolio manager for PIMCO.

Crescenzi has published five books, the most notable of which is 'The Strategic 

Bond Investor: Strategies and Tools to Unlock the Power of the Bond Market.' 

There are many stock and investing books, but very few focus heavily on bonds as 

Crescenzi does in this book. He helps explain every detail of the market. Bill Gross 

has a very kind review of his book on Amazon.com.

Geoffrey Moore, 'The Gorilla Game'

Geoffrey Moore, '<a 

href=http://www.amazon.com/gp/product/B000IOEP8Q/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=B000IOEP8Q>The 

Gorilla Game</a>'

Amazon

Geoffrey Moore is a venture partner at Mohr Davidow Ventures, and formerly 

worked at The McKenna Group and a company in which he founded, The Chasm 

Group.

'The Gorilla Game' details Moore's opinion on how to invest in high tech companies. 

Moore uses a more conversational approach, rather than mathematically heavy, to 

determine which technology companies are bound to grow and which ones are 

bound to tumble. He breaks companies down to three categories, The Gorilla (the 

leader), the Chimp (the challenger), and the Money (the follower).

Burton Malkiel, 'A Random Walk Down Wall Street'

Burton Malkiel, '<a 

href=http://www.amazon.com/gp/product/0393340740/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0393340740>A 

Random Walk Down Wall Street</a>'

Burton Malkiel was twice the chairman of the economics department at Princeton 

University. He graduated from Boston Latin School and received his MBA from 

Harvard University.

Malkiel's most famous work, and one of the most popular finance related books of 

all time, is 'A Random Walk Down Wall Street.' The book examines many popular 

investing techniques, specifically both technical and fundamental analysis. Malkiel 

breaks down both strategies and notes the flaws in each, suggesting that passive 

strategies will provide better results than either of these methods.

Nassim Taleb, 'The Black Swan'

Nassim Taleb, '<a 

href=http://www.amazon.com/gp/product/B00139XTG4/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=B00139XTG4>The 

Black Swan</a>'

Nassim Taleb is a professor at Oxford  University, after having formerly been a 

hedge fund manager and Wall Street trader. He completed his undergraduate studies 

at the University of Paris, where he also received a Ph.D., and received his MBA 

from the Wharton School at the University of Pennsylvania.

Taleb's book, 'The Black Swan' focuses on how large, improbable events can 

completely disrupt any forecasts or expectations of the future. The unpredictable 

nature of such large events that alter markets adds an additional layer of risk that is 

often not considered by investors.

George Soros, 'The Alchemy of Finance'

George Soros is the chairman of Soros Fund Management, and he is a graduate of 

the London School of Economics.

His book, 'The Alchemy of Finance' acts as an instructional guide of the 

marketplace. He interprets how instrumental investors' perception of market values 

are, and states that this is what really moves prices up and down.

George Soros는 "소로소 펀드 메니지먼트"의 회장 이고, 그는 런던 에서 경제

학을 전공했다.

그의 책 'The Alchemy of Finance'는 주식시장에서의 행동지침서 로서의 역할

을 한다. 그는 기술적 투자를 하는 투자자들의 해석-주식시장의 상품(상장기

업의 주가)의 가치를 인지(perception자각)하는 것과 그 상품의 상태 자체를 해

석하여, 주식가격을 진정 내리고 올리는 요소가 무엇인지 설명한다.

Edwin Lefevre, 'Reminiscences of a Stock Operator'

Edwin Lefevre, '<a 

href=http://www.amazon.com/gp/product/0471770884/ref=as_li_qf_sp_asin_il_tl?

ie=UTF8&tag=thebusiinsi-

20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0471770884>Reminisce

nces of a Stock Operator</a>'

Amazon

Edwin Lefevre was an American journalist and stockbroker who graduated from 

Lehigh University.

Lefevre's book, 'Reminiscences of a Stock Operator' is a the only fiction book on 

this list, but his detail of the happenings of Wall Street during the early 20th century 

make this one of the most classic finance books in history. The book was a 12 

article series published in a newspaper, but was eventually put together and 

published.

Kathryn Staley, 'The Art of Short Selling'

Kate Staley is an expert short seller, and her book 'The Art of Short Selling' breaks 

down the market of overpriced stocks and how to sell short to make substantial 

profits. This is an extremely specialized niche, and there are not many publications 

that break down short selling in the same manner that Staley does in her book.

Kathryn Staley, 'The Art of Short Selling'

Kathryn Staley는 단기 투자의 전문가이고 그녀의 책 'The Art of Short Selling'은 

과대평가되어 높은 가격을 가진 주식상품을 파해쳐 분석하고, 유의미적인 

수익을 내기 위하여 어떻게 단기 투자를 해야 하는 지를 분석한다. 이 설명은 

아주 극단적이고 전문화된 틈세시장을 노리고 있으며, 그녀와 같은 방식으

로 초단기 시장을 분석한 출판물의 수는 많이 존재하지 않는다.

Charles Mackay, 'Extraordinary Popular Delusions and the Madness of Crowds'

Charles Mackay is a journalist who was educated at the Caledonian Asylum.

Mackay's book, 'Extraordinary Popular Delusions and the Madness of Crowds' 

attempts to explain why relatively intelligent individuals decide to follow crowds 

rather than sticking to their own opinions on matters. This is vital in finance due to 

the nature of the market and its swings.

Charles Mackay, 'Extraordinary Popular Delusions and the Madness of Crowds'

Charles Mackay는 Caledonian Asylum에서 교육받은 저널리스트이다.

Mackay의 책 'Extraordinary Popular Delusions and the Madness of Crowds'는 사회

적으로 상대적으로 지성인 이라 부를 수 있는 개인이 자신의 합리적인 판단

을 따리기 보다, 대중의 판단을 따르는지를 설명하려고 시도한다. 이것은 

finance에 있어서 핵심적인데, 이러한 개인들의 움직임이 시장의 swings의 이

유가 되기 때문이다.