Recommend me some good books on investing!

Let’s say that I’m completely ignorant to the world of investment. I know that there are things called stocks and bonds and mutual funds, but don’t quite understand everything. Essentially what I’m looking for are books that don’t assume any previous knowledge and lay everything out in a easy to read format.

Currently I’m looking at Investing for Dummies, and reading the reviews it seems like a good starting point. There’s a few others that are in my cart, but I’d like to know what you guys think.

I’d like to steer clear of the “Make Millions by time you retire!!!1one” books, because my goals are a bit more modest. I’m not looking for anything high-risk, just something to supplement my meager income and help save for the future.

EDIT: Oops, this was supposed to go to IMHO. Sorry, long day at work.

Book of Hard Knocks.

I have read several, but the one I keep coming back to is Andrew Tobias’s
The Only Investment Guide You’ll Ever Need. (The version I have is the original one, published some 20 years ago. There is a revised version out now.)

But I found it good despite, or even because, it was 20 years old. Time-tested real info doesn’t change much, and certainly isn’t influenced by the latest fads (or scams). What he covers is serious, long-term financial advice, and that hasn’t changed much for many years. Plus I found it entertaining (well, for a financial book) and easy to read & understand.

He also has an online, daily (usually) blog, that is about half financial advice and half political commentary. See http://www.andrewtobias.com/. (Actually, times like this (election year, and big battles on both Democratic & Republican races). it seems to tilt more to about 2/3rds political and just 1/3rd financial.

I recently got interested in investing in my future and had a similar predicament as you. I currently have Investing for Dummies. It’s an okay book. Frankly, I am not a terribly big fan of the for dummies books. IMO, they are often times too simple, but I guess it would give you a good start. I also have a copy of Plan Right for Retirement with the Grangaard Strategy. I think this is a much better book personally. I have also heard that *The Bogleheads Guide to Investing * is a terrific book. The authors will respond to you questions, with very detailedresponses, at this message board:

http://www.diehards.org/forum/index.php?sid=959e01aa2164814902b490151091bdde

There’s tons of information there. I would personally recommend visiting message boards to get the information you are after. There’s so much information from people just like you - not matter what stage of the game you are in. Here is another good one:

http://www.early-retirement.org/forums/

I have purchased several investing books and have learned more from message boards and asking/reading others questions and other peoples responses than I have learned from books. YMMV though.

I liked Eight Steps to Seven Figures quite a bit.

Although I suppose that isn’t truly and investment book.

Benjamin Graham’s The Intelligent Investor is widely regarded as the basic text on investing, and a favorite of Warren Buffett.

Although not strictly an investment book, Nassim Taleb’s Fooled by Randomness is well worth reading.

If you don’t want to spend a lot of time worrying about money, the Armchair Millionaire might be up your alley.

An aside about the Dummy books. I provided some material for an upcoming Dummies book on horse care. When I called the editor the cheerful receptionist answered the phone with, “Dummies, technical division.” That always cracks me up.