We are delighted to present our first guest post in arvy’s Book Club by none other than Celine Nadolny, owner of Book of Finance.
Celine is an avid book lover (800+ books read and 450+ reviews), award-winning finance blogger, economics student and Germany’s most influential non-fiction reviewer with a clear mission: “I want to inspire as many women and men as possible to read more, take control of their finances and lead a more fulfilling life.”
Let’s dive into her top 5 investment books by German-speaking authors.
Einfach erfolgreich anlegen
by Jessica Schwarzer
A financial book that perfectly reflects my personal philosophy of investing. This book started my admiration for Jessica Schwarzer, who for me is one of the most knowledgeable women in finance. Her approach is pragmatic and scientifically sound – no ‘do it yourself’ knowledge, but well-researched and verifiable ideas.
Schwarzer explains the issues in a way that is easy to understand for beginners, which makes her books more enjoyable to read than Gerd Kommer’s, which is more in-depth. This book is aimed primarily at beginners and advanced students, but it offers more than just 08/15 knowledge. It shows how to achieve smart returns with the same level of risk in a short amount of time and at low cost – without a degree in economics or knowledge of mathematics. All it takes is the courage to take responsibility.
If you are looking for a ‘financial guru’ to hand over your own responsibility, you are in the wrong place with Schwarzer. She is a fan of the passive investor strategy, but sets herself apart by showing how to further optimize the risk/return ratio. Her goal: to take out emotions and build up assets in a relaxed manner.
Dieses Buch ist bares Geld wert
by Markus Elsässer
A life guide that feels like a conversation with a wise mentor. In concise sections, the author shares life wisdom and lessons ranging from dealing with family and friends to career planning, negotiation techniques and finances.
The book is more of a workbook than entertainment and encourages action. Elsässer emphasizes that success is not learned, but earned. Nevertheless, you can make your own path smoother if you know ‘about the biggest dangers and set screws in advance’. He shows that you don’t have to make all the mistakes yourself, but can learn from the experiences of others.
With lots of little tricks and tips from his ‘treasure chest’ and ‘scrapbook’, he conveys a relaxed but helpful mood. It deals with the best starting conditions for a career, the right decisions and the role of family, friends and colleagues. In difficult situations, this book should act as friendly advice or a helpful change of perspective.
Über die Gier, die Angst und den Herdentrieb der Anleger
by Pirmin Hotz
This is one of the best financial books I’ve read recently. The author doesn’t mince his words about the misguided paths that large parts of the financial sector are taking. He doesn’t mince his words about supposed experts or pseudo-scientific strategies that take on almost religious characteristics. He provides double and triple evidence for all his statements.
The bottom line is that we learn which investment strategies are really to be recommended. In this way, we can distance ourselves from all the uncertainty that is constantly being readily spread on the markets.
Pirmin Hotz is one of the most renowned Swiss asset managers and, above all, a fan of economics. He sees his idols in science. Over the years, he has tried to scientifically refute the fallacies of the financial sector and understand its foundations.
“Some people have repeatedly confronted me harshly for my criticism of the financial sector. They probably see their business model at risk. But Pirmin Hotz, like me, doesn’t seem to care. For him, the independence and uncompromising nature of his opinion is of fundamental importance, based on this quote from George Orwell: ‘If freedom means anything at all, it means the right to tell other people what they don’t want to hear.”
“I write in plain language, even if this will not please some of the people I mention by name in this book. However, I am never interested in attacking specific people, but always in the matter at hand. I try to get to the bottom of things and create facts free of faith and hope. These observations in the financial market fascinate me and occasionally remind me of a shark tank teeming with gamblers, cheats and cashiers.”
In just under 350 pages, he ruthlessly reveals the weaknesses and lack of transparency of an industry whose honesty can definitely be questioned. He does this in a similarly entertaining, understandable and scientifically sound way as Gerd Kommer, for example. In this way, he addresses a broad readership. After all, this topic concerns us all, and most of us are at the top of the list of potential victims of this perfidious system.
Souverän investieren mit Indexfonds und ETFs
by Gerd Kommer
For me, this is still the best financial book by a German-speaking author. It conveys well-founded and ego-free knowledge without having to present himself as an expert – he is one of the greatest in Germany.
Kommer combines scientific approaches with his own experience and empiricism. His book is primarily aimed at advanced private investors, but he has also published comprehensible works for beginners. This book is rightly a classic and a standard work on investing.
All statements can be easily verified by renowned sources and Kommer dispels many myths in the financial sector. He helps private investors to build a structured and successful portfolio and exposes the deliberate complexity of the industry. His scientifically based approaches reveal how the financial industry profits from complexity, greed and the fear of the next crash.
This work is causing a stir in the industry, as Kommer not only derives the investment approach, but also critically examines an entire industry.
Über Geld nachdenken
by Nikolaus Braun
It offers a refreshing approach in the world of financial guides. Instead of dry tips, it’s about how money affects our lives and how we can make smart, serene decisions that improve our quality of life.
The book begins with the question: Why is money important to us? Braun shows that it’s not about being rich, but about being financially independent and relaxed about money. His wealth strategy is transparent, simple and can be implemented over the long term, free from the empty promises of the financial industry.
Another highlight is Braun’s focus on emergency and succession planning as well as the importance of powers of attorney and wills. He links financial decisions to quality of life and emphasizes that money should be a means to a better life and personal satisfaction, not an end in itself.
His accessible writing style and practical examples from his consulting practice make the book more than just a financial guide – it is a life guide that encourages people to proactively shape their own financial future.
Braun’s message is clear: “Human relationships, not money, are the key to a fulfilled life. Good and simple money decisions are the way to get there.”
It’s a wrap! Many thanks to you, Celine, for the guest post!
Interested in more of Celine’s work?
Have a look at her book club: Book of Finance!
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