Considering how much investors have suffered in the last year, it is no surprise that there has been an avalanche of new books claiming to be the "only guide you will ever need" to do some or all of the following: get rich quick, know how to predict markets, manage risk, know how traders think, and save the world, too. Aside from the usual fare, a host of books have come out about socially responsible investing this year. Out of all the books out there, we've picked the best of the lot.
1. "The Little Book of Bulletproof Investing" by Ben Stein and Phil DeMuth ($19.95): This practical guide is easy to follow, quick to finish and well organized, divided into do's and don'ts. It's definitely entertaining, said reviewers on Amazon and Today. The theme is steady returns over quick cash schemes, with an unsurprising and conservative focus on diversification to try to shield you from sudden dips and bubbles.
2. "Valuation: Measuring and Managing the Value of Companies" by Tom Copeland, Tim Koller and Jack Murrin ($95, to be released July 26): The McKinsey and Co.'s guide to corporate valuations has been revised, and offers new tips on how to value businesses, restructuring, mergers and acquisitions. The book is tailored towards businessmen and CEOs, but investors can learn a great deal from it when assessing a company and finding out how CEOs and managers think about their corporate strategy.
3. "The Complete Guide to Making Environmentally Friendly Investment Decisions" ($24.95, to be released Oct. 31): This book may be the most promising among the deluge of this year's socially-minded investing guides. It explores where to put your assets, what companies are best for green investments and how to find out more about the companies you invest in. The book also covers how to diversify your portfolio, increase returns and have a good conscience while doing it.
4. "Payback Time" by Phil Town ($26.99): Phil Town's first book, ""Rule #1" written for people who want to go into trading, was a hit, and this is basically a prequel. for those looking to make a move from mutual funds to trading -- but want a better understanding of investing first. It is based on two points: First, that mutual funds are a waste of time and money and second, that investors should concentrate on "stockpiling", the practice of sticking with a company they know and understand even if the price falls.
5. "The Great Reflation: How Investors Can Profit from The New World of Money" by J. Anthony Boeckh ($34.95): This is the best among the tons of books dealing with how to profit from the crisis. On investing bestseller lists since its release, Boeckh's book begins with an excellent account of the current situation. The second section goes through different investing strategies that are designed take advantage of the post-crisis market. The last section has been a disappointment to reviewers because it doesn't attempt to suggest what to expect in coming months.
6. "Value Investing: From Graham to Buffett and Beyond" by Bruce C. N. Greenwald and Barbara Kivitat ($49.95, to be released Jan. 5, 2011): Originally published in 2001, the updated edition is generating buzz among economists, investors and students. The new edition deals more with the "curse of information" that many investors today are suffering from. The book also has profiles of successful investors, case studies, and detailed analysis of certain companies, with a special focus on Silicon Valley firms. Greenwald has written a number of books about economics and money management. His most famous was "Towards a New Paradigm in Monetary Economics," co-written with Columbia University economist Joseph Stiglitz.
Write to Shareen Pathak