My favorite is an oldie but a goodie. I recommended Peter Lynch's Beating the Street. I wrote a brief review of this book two years ago on Amazon. You can read the review here.
Lynch lays out a solid strategy for beginners that focuses on the long-term. It's simple and sensible advice that anyone can follow. The chapters on how to pick great stocks and read balance sheets are definitely worth the price of admission.
But once you become a little more savvy and want to go deeper, NOTHING beats The Intelligent Investor by Benjamin Graham.
This is the bible of investing as far as I'm concerned. It's also the ONE book that Warren Buffet would tell you to go out and buy if you asked him yourself. In fact, this is the book that helped catapult Buffet to investment greatness.
The Intelligent Investor was first published in 1949 but it remains 100% relevant in todays market. Buy it and apply it, and Mr. Market will never fool you again.
So what about you? Which book would you recommend to a new investor?
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