Gerd Kommer — All Books Explained: Which One to Read First?
April 30, 2026
7 min read
📚 arvy's Book Club
Gerd Kommer — All Books Explained: Which One to Read First?
By Thierry Borgeat · June 2026 · 7 min read
arvy's Teaser: If one single author has shaped financial education in the German-speaking world, it's Gerd Kommer. His standard reference "Souverän investieren mit Indexfonds und ETFs" has, for over 20 years, been the book every serious private investor should have read. But Kommer has since written an entire library — for beginners, advanced readers, retirees, property buyers. Which should you read first? Here is the complete overview, with arvy's take per book and a clear recommendation for every type of reader.
Who is Gerd Kommer?
Dr. Gerd Kommer is the best-known ETF and index fund expert in the German-speaking world. He studied business administration, tax law, political science, and German literature — an unusually broad education that shapes his writing style: scientifically grounded, yet accessible. Today he is the founder and managing director of two asset management companies.
His mission, in his own words: to make the findings of economic science on rational, serious investing usable for ordinary private households. And that's exactly what he does — uncompromisingly, data-driven, and free of the conflicts of interest that define the rest of the financial industry. Thomas Kehl of Finanzfluss (the largest German-language finance YouTube channel) calls his standard reference "a must-read for anyone who really wants to understand buy-and-hold and passive investing."
All of Gerd Kommer's Books at a Glance
Note: Kommer's books are written in German and have no official English translations. For English-speaking readers, the closest equivalent is John Bogle's "The Little Book of Common Sense Investing."
Which Gerd Kommer book should I read first?
The short answer depends on your level:
Absolute beginner? Start with "Souverän investieren für Einsteiger" (For Beginners). It requires only minimal stock market knowledge and walks you through step by step.
Already know the basics? Go straight to the standard reference "Souverän investieren mit Indexfonds und ETFs." This is THE book — denser, deeper, with all the scientific evidence.
Over 40 or approaching retirement? Read "Souverän investieren vor und im Ruhestand" — the important distinction between building wealth and using wealth is covered here.
1. Souverän investieren mit Indexfonds und ETFs (The Standard Reference)
What it's about: Kommer's magnum opus — the standard reference for passive investing in the German-speaking world. In ever-new editions for over 20 years, currently in its 7th edition (2025, 552 pages). It targets advanced private investors and comprehensively explains, theoretically and practically, rational, forecast-free investing in capital markets.
The most important lesson: Active funds underperform — structurally, not by chance. The solution: broadly diversified ETFs, hold long-term, rebalance regularly, low costs. Kommer's famous core idea: invest all your money in the broadest possible global ETF equity fund plus a fund of short-term government bonds of the highest credit rating. You need nothing more.
arvy's Take: Required reading for any German-speaking investor. Kommer is absolutely right about the financial industry's weaknesses and the power of index funds. Where arvy goes further: pure index investing means you also own the weakest companies in the index. Our Core-Satellite approach combines Kommer's simplicity with targeted quality selection — passive core plus active quality satellite.
If you take only one thing away: The financial industry profits from complexity — you profit from simplicity.
→ Kommer's standard reference is also part of Celine Nadolny's Top 5 German-language authors
2. Souverän investieren für Einsteiger (For Beginners)
What it's about: The accessible version of the standard reference (2nd edition 2025, 192 pages). Requires only minimal investment knowledge and targets beginners in the wealth-building phase with minimal stock market knowledge.
The most important lesson: Building wealth is simpler than the financial industry would have you believe. Kommer comprehensively shows how smart, rational wealth-building and retirement provision work — and why ETFs play a key role.
arvy's Take: The perfect entry point if the 552-page standard reference seems too daunting. Here you get Kommer's core messages in digestible form. For many of our Swiss readers, this is exactly the right starting point — accessible, without the scientific apparatus of its big brother.
If you take only one thing away: You don't need a finance degree to invest soundly. You only need the right principles — and the discipline to follow them.
3. Souverän investieren vor und im Ruhestand (Before and In Retirement)
What it's about: The book for soon-to-be and current retirees. Targets private investors with basic knowledge in the second half of life — the phase where it's no longer about building wealth, but about using and preserving it.
The most important lesson: Building wealth and using wealth are two completely different disciplines. How much can you withdraw in retirement without running out of money? How do you secure your standard of living? Kommer answers the crucial question of whether your money will last.
arvy's Take: An underrated book. Most financial guides stop at wealth-building — but the decumulation phase is at least as important and full of pitfalls. For Swiss investors with a pension fund, Pillar 3a, and private assets, the smart coordination of these pots is decisive. Required reading from age 50.
If you take only one thing away: The question isn't only "how do I build wealth?" but "how do I use it wisely without running out?"
4. Souverän Vermögen schützen (Protecting Your Wealth)
What it's about: Kommer turns to the topic of wealth protection — how to protect the wealth you've built from major risks: inflation, currency crises, political uncertainty, legal risks.
The most important lesson: Building wealth is one half. Keeping it is the other. Real wealth protection doesn't come from hoarding gold or following crash prophets, but from broad diversification, rational asset allocation, and avoiding expensive mistakes.
arvy's Take: Particularly relevant in times of war in Europe, geopolitical uncertainty, and inflation concerns. Kommer stays true to his principle here too: no panic, no crash prophecy, but scientifically grounded, calm wealth protection. Exactly the "stay calm, stay invested" attitude that arvy advocates.
If you take only one thing away: Real wealth protection is boring — and that's exactly why it works.
5. Kaufen oder mieten? (Buy or Rent?)
What it's about: Kommer's answer to the most emotional financial question of all: should I buy a home or rent? With his characteristically data-driven, illusion-free analysis.
The most important lesson: The owner-occupied home isn't automatically the best investment — often it's a poor one. Kommer calculates that renting plus disciplined investing of the difference is financially superior in many cases. An uncomfortable truth that contradicts the common "rent is throwing money away" mentality.
arvy's Take: Highly relevant for Switzerland, where home ownership is expensive and the ownership rate is low. Kommer's analysis helps think through the emotional decision rationally. The core message fits arvy perfectly: a home is consumption with an investment character — not a substitute for a diversified securities portfolio.
If you take only one thing away: "Rent is throwing money away" is one of the most expensive myths in finance.
arvy's Recommendation: Which Kommer book fits you?
| If you... | Then read... |
|---|---|
| ...are just starting out | Souverän investieren für Einsteiger |
| ...already know the basics | Souverän investieren mit Indexfonds und ETFs (standard reference) |
| ...are over 40 | Souverän investieren vor und im Ruhestand |
| ...want to protect your wealth | Souverän Vermögen schützen |
| ...are considering buying a home | Kaufen oder mieten? |
Where arvy goes beyond Kommer
We at arvy owe Gerd Kommer a great deal. His uncompromising message — low costs, broad diversification, scientific grounding, distrust of the financial industry — is part of our DNA. If you read only one German-language finance author, read Kommer.
Where we go further: Kommer recommends pure, passive index investing. That's excellent — but it means you automatically also own the weakest companies in the index. Our Core-Satellite approach keeps Kommer's simplicity and low costs in the passive core but adds an active quality satellite: 25–35 first-class companies, carefully selected.
The goal: Simple enough to stick with. Smart enough to outperform. Plus a decisive advantage for Swiss investors — tax-free capital gains, FINMA supervision, and founder co-investment.
3 Sentences to Remember
1. If you read only one German-language finance author, read Gerd Kommer.
2. Beginners start with "for beginners," advanced readers with the standard reference, 40+ with the retirement book.
3. The financial industry profits from complexity — Kommer and arvy both profit from simplicity.
Frequently Asked Questions
Which Gerd Kommer book is the best?
The standard reference "Souverän investieren mit Indexfonds und ETFs" is Kommer's most important and best-known book — the classic on passive investing in the German-speaking world for over 20 years. For absolute beginners, however, "Souverän investieren für Einsteiger" is the better starting point.
In what order should I read Gerd Kommer's books?
You don't have to read them in a particular order — each covers its own topic. Recommendation by life stage: beginner's book → standard reference → (from 40) retirement book. The real estate and wealth protection books you read when those topics become relevant for you.
Which edition of "Souverän investieren" is current?
The standard reference "Souverän investieren mit Indexfonds und ETFs" is in its 7th edition (2025). When buying, look for the latest edition — Kommer regularly updates the data, tax rules, and market developments.
Is Gerd Kommer relevant for Swiss investors too?
Yes, very. Kommer's principles (low costs, broad diversification, passive investing) apply universally. Note, however, that many tax details are tailored to Germany. Switzerland has different rules — such as tax-free capital gains and Pillar 3a. The core message remains fully valid.
Are there English translations of Kommer's books?
No. Kommer's books are written exclusively in German and have no official English translations. For English-speaking readers, the closest equivalent in philosophy and content is John Bogle's "The Little Book of Common Sense Investing."
Read Kommer? Now act — with Swiss advantages.
arvy takes Kommer's principles (low costs, broad diversification, discipline) and adds quality selection, tax-free capital gains, and FINMA supervision. Savings plan from CHF 1.
Start Savings Plan | How Quality Investing worksFurther reading: The Best German-Language Finance Books · Celine Nadolny's Top 5 German-Language Authors · The 21 Best Investment Books of All Time · arvy Book Club Archive
This article was written by Thierry Borgeat, Co-Founder of arvy, and reviewed by Patrick Rissi, CFA, and Florian Jauch, CFA.
Disclaimer: This article is for general informational purposes only and does not constitute personal investment advice. Amazon links are affiliate links. arvy is a FINMA-supervised asset manager.
