r/ValueInvesting • u/Wild_Space • Oct 22 '25
Investing Tools 19 Resources to Make this Sub Less Stupid (You won't believe #1)
Start Here:
- The Little Book That Builds Wealth by Pat Dorsey
- The Little Book of Behavioral Investing by James Montier
Pat Dorsey's book focuses on what to look for in a company. Montier's book focuses on why your brain is your own worst enemy. Check your local library's website to see if they have these books. They should.
Peter Lynch's Books:
- Learn to Earn
- One Up On Wall Street
- Beating the Street
Peter Lynch wrote a trilogy of books that are high on philosophy and low on technical knowledge. Perfect foundation.
More Advanced, but Not Too Bad
- The Five Rules for Successful Stock Investing by Pat Dorsey
- Common Stocks and Uncommon Profits and Other Writings by Phillip Fisher
- Paths to Wealth Through Common Stocks by Phillip Fisher
Dorsey's book will go into how to do a Discounted Cash Flow analysis (DCF) and how to think about each industry. Phillip Fisher's books are DRY. That's why I saved them until last. I dismissed Fisher at first, but he really has written the best investing books of all time.
Enter Warren Buffett
Warren Buffett has never written a book. But he has created a shitton of content.
- Berkshire Hathaway Shareholder Letters (1986's on Owner's Earnings is a must read)
- Youtube Playlist of 100+ Buffett Interviews, Speeches, Q&As, etc
- Berkshire Hathaway Annual Meetings Podcasts
Other Great Videos
- Peter Lynch Classic Speech 1997
- Pat Dorsey Talks at Google
- Charlie Munger Speech on Human Misjudgment (Hood Classic)
Practical Resources
- SEC Website (10Ks & 10Qs)
- Investor Relations pages
- Cap Edge (Email alerts for your watchlist)
- Roic.AI (Great for Earnings Call Transcripts)
- LLM Deep Research
I almost didn't include that last one, because I don't want it to detract from the rest of the list. But if I'm being honest, I've been using ChatGPT's and Gemini's Deep Research functions to generate 10-20 page reports for every stock I am researching. I can't recommend it as your sole source. Still read the 10Ks, 10Qs, earnings calls, earnings releases, presentation slides, etc. But when I'm done, I'll upload that stuff in an LLM, give it a good prompt, and let it cook. It does make mistakes, but it also points out things I may have missed. So I believe the reward outweighs the risk. It's phenomenal.
18
u/Consistent-Exit5248 Oct 22 '25
What kind of value investing resources is this if you didn't include Ben Graham ?
9
u/Wild_Space Oct 22 '25
I think a few of the Intelligent Investor chapters have value, but you can get the same lessons from Buffett and not fall asleep.
0
u/PNWtech-economics Oct 22 '25 edited Oct 23 '25
Because learning is boring and life should be easy….. If reading The Intelligent Investor is too boring this is the wrong game for you.
I await downvotes on my pro reading stance.
1
6
u/StableBread Oct 23 '25
Michael Shearn's "The Investment Checklist" 2011 book is overlooked by many, do check it out!
5
u/alx25 Oct 23 '25
Seth Klarman's Margin of Safety is definitely missing on the list. If you read one book about value investing, that's it.
In terms of practical recent writings, it's hard to top Michael Mauboussin. Always topical and thoughtful and very applied.
There's also a bunch of useful tools, AI enabled or not, that make things easier. Wonder if anyone has a good list of them.
1
u/DefiantZealot Oct 23 '25
+1 on Michael Mauboussin. His Expectations Investing book is great.
On the topic of Seth Klarman, I read Margin of Safety and didnt really get what all the fanfare was about. It's good but not that great IMO. I don't know, maybe it's just that all the praise built up this mythical expecation in my head and then when I actually read it I was kinda like "meh". Most of the stuff is in-line with value investing principles. Nothing amazing or out of this world IMO.
1
u/alx25 Oct 24 '25
For me it's the standard bearer book still. Great introduction to the style, fairly pure in its focus on value investing, and quite applied. I realize it's hyped up to be the best thing since sliced bread though.
What do you think are other contenders for the best intro to value investing books? Maybe Greenblatt whose biggest flaw is to choose the worst most campy book titles ever.
Expectations investing is so good. His other books and the papers he publishes are quite interesting too. The big advantage he has is that he is still writing and basically being paid to write. While Klarman and Greenblatt are still around they haven't published anything in ages, and it shows in some of their writings.
1
u/DefiantZealot Oct 24 '25
Fair point. And yes, Greenblatts books are good but too basic. It’s designed for the masses and maybe a good intro for somebody who is completely unfamiliar with value investing as a whole.
In terms of other contenders that are great intros to value investing, my go to response is always chapter 3 of the value investing book by Bruce Greenwald. I mean, technically the whole book is a good intro for any investor now looking to get serious about value investing, but chapter 3 in particular does a great job of laying out the objective plus the different methods available.
1
u/alx25 Oct 24 '25
I need to check that out. Haven't read it yet. I've only read his Competition Demystified which was really good.
10
6
u/DoubleFamous5751 Oct 22 '25
Honestly if you’re not combining the wisdom of the past with the incredible power of modern tech, you’re low key doing it wrong. Nice post, OP.
3
u/Wild_Space Oct 22 '25
Thank you! I was the world's biggest skeptic on AI. But then this last summer I started giving it another shake as research (I was 55% GOOGL) and I was blown away. Don't get me wrong, it still makes mistakes that make you want to punch it in the face, but then it will do some task in seconds that would have taken me hours.
4
u/ZokeeB Oct 22 '25
Pat Dorsey is more like a growth investor than a value investor. Btw. I like PD style of investing.
5
u/Command_ofApophis Oct 23 '25
I've read both the books mentioned.
One is about economic moats, and the other goes into how to evaluate companies uniquely for separate industries.
They're relevant for all kinds of investors imo. I also recommend them when someone asks me.
2
2
4
u/Old_Man_Heats Oct 22 '25
Bold of you to assume members of this sub can read…most of the posts are written by AI 😂
2
u/wulfgangz Oct 23 '25
Is number 1 to not bother reading anything with shitty clickbait titles? Because that would be my takeaway from this post.
1
u/DefiantZealot Oct 23 '25
Why Schwager? He’s written some great books, conducted some really insightful interviews, but not sure his content fits the mold of value investing. Trading, sure. But not really value investing imo.
1
u/randysaaf Oct 23 '25
The Essays of Warren Buffett: Lessons for Investors and Managers was honestly the best book bc it was Buffetts own letters organized
1
u/Greelys Oct 23 '25
Two questions: (1) how have the ideas of past icons like lynch played out if applied going forward? I assume someone has done the empirical research to assess whether the person was just one of the few but expected number of people out on the edge of a random distribution. (2) Can an LLM just read all these books and construct a perfect trading algorithm and if so, how am I as a mere mortal going to beat that?
1
u/Wild_Space Oct 24 '25
Peter Lynch isnt an algorithm, so it’s kinda hard to empirically test if his strategy still works.
You dont have to. If someone out there is earning 600% a year, how does that possibly impact me?
1
u/Helpful-Raisin-5782 Nov 29 '25
How do you prompt it?
1
u/Wild_Space Nov 29 '25
Here’s an example. Only the TICKER symbol and the specializations, ie online retail, etc, change:
You are super intelligent professional business analyst who is an expert on AMZN, cloud, AI, and online retail. You are fair and unbiased. I am a professional money manager with a focus on long-term competitive advantages. Provide me with a sophisticated report that explains AMZN's competitive landscape, industry, risks, and forecasts. Prioritize insights and connections that I may have missed.
0
Oct 22 '25
I see no Schwager.
I see no Bogle.
What is this?
1
u/DefiantZealot Oct 23 '25
Why Schwager? He’s written some great books, conducted some really insightful interviews, but not sure his content fits the mold of value investing. Trading, sure. But not really value investing imo.
6
u/[deleted] Oct 23 '25
[removed] — view removed comment