3 good books for financial investors

I recommend 3 good books for all levels of present and future investors:

1.  "The Intelligent Investor" (published in 1973), written by Benjamin Graham.  Ben was the great teacher of Warren Buffett.  Warren regards this book as the best book on the subject of  financial investment.  I find this book even better than the book "Security Analysis"(2nd Edition, 1940), also written by Ben, perhaps because it is more updated and easier to read too.  This book covers all kinds of  financial investments: government and corporate bonds, preferred shares and common stocks...etc.  Warren says that Chapter 8 and Chapter 20 are the most important.  Overall, the most important concept preached by Ben was: the margin of safety.

2.  "The Snow Ball" (published in the summer of  2008), written by Alice Schroeder.  This book is the best biography of Warren Buffett, and it is the only biography authorised by Warren himself.  I found Chapter 57 and the concluding chapter very useful, because in these  chapters Warren expresssed his view on the terrible/destructive effects of financial derivative products.  Charlie Munger (Warren's partner) predicted (in early 2008) that, as a result of these products, something very terrible would happen within 5 to 10 years.  Unfortunately, such terrible things have occurred just a few months after this book was published :  the global financial tsunami broke out in September 2008!!  It is time for everyone to think and learn from the lesson(though it is late, but better than doing nothing)!!

3. Security Analysis (2nd Edition, 1940),  written by Ben and Dodd.  At that time, Ben was a lecturer(and also a fund manager of his own firm) and Dodd was an associate professor of finance at Columbia University. This book covers all kinds of financial instruments available at that time.  When Warren Buffett had read this book, he decided to go to Columbia to study for a master degree, and be a student of Ben.