Investment Valuation
Tools and Techniques for Determining the Value of Any Asset
Probably the most comprehensive valuation textbook available - an excellent resource.
More technical books that require more commitment from the reader, for those ready for a deeper dive.
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Financial Statement Analysis and Security Valuation (Revised)
A comprehensive text book that thouroughly covers financial statement analysis and the tie from there to fundamental stock valuation. Both a strong learning guide as well as a handy reference tool.
The Handbook of Fixed Income Securities, Ninth Edition
This is everything there is to know about bonds, full stop. It is a massive tome and not light reading. That said, it’s great reference material to have nearby when you need it, and until then it also works as a fantastic monitor stand.
Trades, Quotes and Prices
A deeply technical book about the plumbing of stock trading. Covers liquidity, market-making, price spreads and slippage in detail and based in the actual mechanics and frictions of contemporary markets as opposed to theoretical exchanges. To be clear, this book is unnecessary for an average retail investor who is dollar-cost-averaging into ETFs - but for the inquisitive mind who wants to understand the details of exchange pricing mechanics, this is where to look.
| # | Title | Subtitle | Author(s) | Year | Notes |
|---|---|---|---|---|---|
| 1 | Investment Valuation | Tools and Techniques for Determining the Value of Any Asset | Aswath Damodaran | 2025 | Probably the most comprehensive valuation textbook available - an excellent resource. |
| 2 | Financial Statement Analysis and Security Valuation (Revised) | Stephen H Penman | 2012 | A comprehensive text book that thouroughly covers financial statement analysis and the tie from there to fundamental stock valuation. Both a strong learning guide as well as a handy reference tool. | |
| 3 | The Handbook of Fixed Income Securities, Ninth Edition | Frank J Fabozzi, Steven V Mann, and Francesco Fabozzi | 2021 | This is everything there is to know about bonds, full stop. It is a massive tome and not light reading. That said, it’s great reference material to have nearby when you need it, and until then it also works as a fantastic monitor stand. | |
| 4 | Trades, Quotes and Prices | Jean-Philippe Bouchaud, Julius Bonart, and Jonathan Donier | 2018 | A deeply technical book about the plumbing of stock trading. Covers liquidity, market-making, price spreads and slippage in detail and based in the actual mechanics and frictions of contemporary markets as opposed to theoretical exchanges. To be clear, this book is unnecessary for an average retail investor who is dollar-cost-averaging into ETFs - but for the inquisitive mind who wants to understand the details of exchange pricing mechanics, this is where to look. |