Stocks for the Long Run: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies, Sixth Edition

I have read dozens of investing books, including classics such as the intelligent investor. This 6th edition deserves to be a classic if not the classic for the 21st century already with stock data well into our century (1995-2021) and comparison with previous periods since 1885. Siegel is data driven and not afraid to question any dogma including Graham/Buffett value investing. He is from the center (like Nobel economist Samuelson was) not taking sides with extreme views in any market area. Based on data, he gives the pros and cons of both fundamental analysis and technical analysis without reverence for none. The tables and figures with data are clear and to the point, entire complex financial articles summarized to the major point in lay language. The book touches, with clear logic and in an easily understood manner, every major topic in stocks, from the simplest topics such as Price/Earnings ratio to the more complex financial topics such as efficient markets and beta, including other topics such as moving averages or the calendar effects with January/first half of every month positive effects still standing in this century while other effects have waned. The books grabs your attention from the beginning. It starts with Part I which is impressive about data on the verdict of history clearly favoring investing in stocks over other options, with annual returns averaging 7% for over 200 years (he goes as deep into the past as 1802), Part Two is also great explaining the history and data returns today of all major indexes such as S&P500 or Dow. In later parts such as Part V on economic environment for stocks and VI market crisis, it provides a data driven perspective on every major stocks competitor from gold to bitcoin, correlating stock returns with global economic context and events. Overall, it provides all major possible strategies that you can use to select and buy your own stocks, without the need to be tied to only mutual funds all the time. It provides better short cuts to greater returns than mutual funds with the needed precautions and risks if you do decide to take riskier strategies on stocks. Excellent, a course books on investing in stocks in itself.

An essential read to understand market drivers and historical perspectives that inform investing opportunities today

All serious investors should have this book. Charts galore. Updated for 2023.

It's fundamental 101 and 201 how to invest in stocks. It's really well written, lots of actual formulas and examples. Feels like reading the bible of how to invest in stocks.