Read these 5 stock books to enhance your stock selection skills by 2025

Entering the stock market is not something to rush into. Successful investors usually prepare by studying thoroughly beforehand to avoid making the same mistakes as others. Reading the right stock books becomes the most important shield. This article will introduce you to 5 recommended books by experts, helping you deepen your understanding of investment fundamentals and stock analysis techniques that lead to profits.

Step 1: Strengthen your foundation with books written by Thais

Beginner investors often face the same problem – difficult to understand. Thai-written stock books have the advantage of using simple language, examples of Thai stocks circulating in the market, and supporting the Thai economic context.

1. Growing Stocks for Sustainable Results by Khun Kavi Chukijkasem

Khun Kavi Chukijkasem is an investor who has adhered to the principles of Value Investing from the start. He wrote this book in easy-to-understand language, enabling readers to make decisions independently. Being reprinted 12 times indicates that this book is well accepted by many investors.

This book lays the investment foundation, from understanding quantitative indicators like P/E, P/BV, and ROE, to reasonable stock valuation. An important focus is on dividends and long-term investing, with a simple principle: as long as the company makes profits and pays dividends, stock prices will naturally rise.

Suitable for: Beginners and novice investors who want to build a strong foundation first.

Advantages: Clear teaching methods with examples; can be used as a long-term investment weapon.

Disadvantages: Content is quite basic; does not delve into advanced details.

2. Breaking the Code: Stock Strategies in Crisis by Dr. Nivesh Meewachirawara

Dr. Nivesh pioneered the concept of Value Investing in Thailand. This book is written with various styles, like sharing real experiences, with clear segmentation, not boring.

Before investing, you need to understand what stocks are, and that market crises are not just risks—they also hide opportunities. Dr. Nivesh shows the general pattern of Value Investing: buying good businesses, letting management do their work, using cold cash, and holding for over 10 years. If the business remains good, there’s no need to sell.

Suitable for: Everyone interested in stock investing, especially beginners wanting to turn around in the Thai market.

Advantages: All Thai stock examples, easy to understand, helps find your own style suitable for real situations.

Disadvantages: Does not go deep into serious stock trading techniques; broad overview but lacks detailed specifics.

Step 2: Study the classics in depth

Once you have the basics, it’s time to learn the underlying theories. The following books are essential textbooks, not superficial.

3. The Intelligent Investor by Benjamin Graham

Benjamin Graham is hailed as the father of Value Investing. This book is considered Warren Buffett’s favorite investment book. Graham achieved an average return of 20% annually from 1936 to 1956, while the market averaged only 12.2%.

The book divides investors into two types: the (less knowledgeable, low-risk) investor and the (more knowledgeable, aggressive) investor. Graham teaches analysis based on reason, avoiding speculation. Importantly, this approach does not require exceptional intelligence or high education—only discipline.

Suitable for: Investors with some investment experience.

Advantages: A true standard of traditional Value Investing, providing a clear investment system and a reminder when trying new approaches.

Disadvantages: Difficult language, poorly organized content, written over 70 years ago, some concepts may be outdated.

4. One Up On Wall Street by Peter Lynch & John Rothchild

Peter Lynch managed the Magellan Fund, growing it from $18 million to $14 billion in just 13 years. Lynch believes amateurs can succeed just as well.

This book covers comprehensive investment strategies, categorizing stocks into 6 types: slow growers, stalwarts, fast growers, cyclicals, turnaround stocks, and asset stocks. It emphasizes finding high-potential stocks that few others know, using the Tenbagger concept—stocks that can increase tenfold.

Suitable for: Experienced market participants or those interested in fundamental analysis.

Advantages: Packed with real experience, comprehensive content, easy to understand, not too technical.

Disadvantages: The Thai translation’s idioms are not very natural; some sentences are confusing; all examples are foreign stocks.

( 5. Buffettology by Mary Buffett & David Clark

Warren Buffett, the world’s richest investor, has never revealed his investment secrets publicly. He only teaches his family. This book, written by Warren’s former daughter-in-law, exposes how he invests.

The content is divided into two parts: qualitative stock evaluation )not too deep( and quantitative analysis )more in-depth### using DCF—Discounted Cash Flow—combining concepts from Benjamin Graham (his teacher) and Charlie Munger’s analysis.

Suitable for: Investors with some experience.

Advantages: Not overly complex, well-organized, most formulas are easy to understand.

Disadvantages: Mainly suitable for long-term investing (10 years or more); requires extensive analysis and multiple factors.

How to choose the right stock books for you

( Why read books?

Well-prepared investors have an advantage. Good stock books share past mistakes others have made. The more you study, the more you can avoid. Even if you repeat mistakes, at least you understand why.

) Not reading books?

It’s possible to start investing without studying stock books. You can choose to invest in mutual funds managed by professionals. But the truth is, no matter which method you choose, you cannot escape learning. Knowing techniques, strategies, and trading data is the foundation everyone must have.

( Choosing books: Start with Thai authors

It’s recommended to choose books written by Thais first, as they are easier to understand. Examples of Thai stocks support local context and are suitable for the stock market you will trade. Translated foreign books may lose accuracy in translation, and foreign stock examples might be too difficult for beginners.

3 Strategies to beat the market long-term

1. Market Timing )Market Timing(: Buy low, sell high. Effective in both bullish and bearish markets, short-term and long-term.

2. Asset Selection )Asset Selection(: Choose assets with long-term upward trends; otherwise, you risk losing to inflation.

3. Asset Allocation )Asset Allocation###: Diversify investments—bonds, stocks, real estate, cash—according to your planned proportions. This reduces risk and promotes steady growth.

Where to start

Beginners should read in order of increasing difficulty. Start with “Growing Stocks for Sustainable Results” to build a foundation. Once understood, learn other techniques. Switch books gradually to discover your own investment style, as each book explains content differently.

After studying, I recommend a step-by-step investment approach: start with local stock indices, study and invest gradually, then learn about foreign stocks. Remember, every investor has their own style, and reading good stock books helps you find what suits you best.

The journey to wealth through the stock market begins with education. Before stepping into the real field, with these 5 books, you already have a clear map.