From value investing to index funds,
40 world-renowned stock books in one volume

A book titled "40 Essential Readings for Stock Investment" has been published, providing the "essence of investment" to those just starting out in stock investing or investors who want to learn the fundamentals.
Author Cha Young-joo (Director of the iAsset Economic Research Institute), who has made himself known to young investors through Sampro TV, YTN, and Money Today, introduces a selection of must-read stock investment books that have guided his investment career.
This book is composed of balanced books that cover the core categories essential to investors while also embodying investment principles. Reading just one book will provide a clear overview of stock investment.


Those looking for books to study stock investment have a hard time finding a clear curriculum.
Most best-selling investment books are limited to minor methodologies or success stories, making them difficult to use as textbooks.
While fragmentary information is readily available through the Internet and other sources, it's still difficult to build a solid foundation for investing through this information.


In that respect, "40 Essential Readings for Stock Investment" faithfully meets the criteria for a good investment textbook: "Anyone can follow it" and "It doesn't follow trends or fads."
This book provides guidance on what to study based on your situation and circumstances, from beginners to experienced investors. The 40 volumes are balanced and organized by subject, allowing for a systematic study of stock investment.


This book is divided into six parts.
From classic stock investment books written by investment gurus like Peter Lynch, Warren Buffett, and George Soros, to introductory books that teach you the ABCs of stock investment, to strategy books that explain successful investment strategies by introducing ETFs, US stocks, dividend stocks, and alternative investments in a balanced way, to analysis books that inform you of promising industries and stocks, to practical books that suggest charts and trading timing, and finally, to books that build a strong and unshakable investment psychology, it covers all areas necessary for investment.


This book will serve as a reliable guide for those just starting out in stock investing. It will also serve as a wise advisor, helping you return to the basics and re-equip yourself when you encounter unexpected obstacles along the way.

It's no exaggeration to say that the books introduced here are the companions that have shaped my investment world.
It transcends time and circumstances, revealing unchanging truths. It fills in the gaps I've overlooked, and through the bitter experiences of having tasted and failed beforehand, it warns me of the pitfalls I might face.
Through these books, I was able to cry and laugh and greatly improve my investment skills.

--- p.13 From “Author’s Note”

Among the countless investment books, only a few can be classified as classics. Whether or not a book qualifies as a classic depends on two factors: first, whether its trading methods can be replicated (replicability), and second, whether it contains timeless insights (deep inspiration).

--- p.23 From "BOOK 1: The Legend of Wall Street Heroes (Peter Lynch)"

He emphasizes that attempts to make money in a short period of time by joining the ranks of speculators are mostly doomed to failure.
A wise investor would advise investing based on corporate value and price by reducing the proportion of stocks during a market boom when speculation is rampant and realizing reasonable profits, and gradually increasing the proportion of stocks during a market downturn when speculation subsides and fear runs rampant.

--- p.38 From "BOOK2: The Intelligent Investor by Benjamin Graham (Stig Brodersen)"

Buffett is a "Mr. Market" advocated by his mentor, Benjamin Graham.
I like to use the market metaphor.
Even if the company's performance is stable, Mr. Market (stock price) is capricious.
This is because this friend suffers from an incurable emotional illness.
By effectively utilizing the lovable Mr. Market's bipolar disorder, investors can achieve victory.

--- p.49 From 「BOOK 4《Warren Buffett's Shareholder Letters》(Warren Buffett)」

A sheep that just follows others without any basis buys stocks recommended by someone and experiences losses or gains, going through ups and downs.
Most people who say that stock investment is gambling do so under tremendous stress.
What type are you and how would you like to change in the future?
--- p.65 From "BOOK 6: The Smart Beginner Investor" (Yohei Yamaguchi)

If we divide the rise and fall of a company into six stages, it becomes clear when narrative and numbers come into play.
In Stage 1 Startup and Stage 2 Childhood, stories play a more important role.
In the third stage of high growth and the fourth stage of maturity, the power of numbers must be confirmed.
Investors should carefully set and utilize investment points according to the company's life cycle.

--- p.98 From "BOOK 11 Narrative and Numbers" (Asworth Damodaran)

The lion is the stock market, and the zebra is the investor.
Investors feel secure when they invest in stocks that everyone recommends, while those who go against the majority opinion are bound to feel uneasy.
This is because not only animals but also humans feel comfortable when they are together due to their gregarious nature.
But what about profitability? Stability has no correlation with investment returns; rather, it's more closely related to risk.

--- p.144 From "BOOK19: Invest in Small but Strong Companies" (Ralph Wenger)

Investors complain that it is difficult to establish principles.
Principles are bound to be different for each individual.
Just as not everyone can copy the method of someone who ranked first in the college entrance exam, everyone should invest in a way that works for them.
To do that, you need to know yourself.
You need to objectively assess your tendencies, the nature of your investment, and how it fits into your daily life.
Based on this, you must find a way to do it.

--- p.216 From "BOOK 31: I Made $2.5 Million Through Stock Investment" (Nicholas Davis)