The 10 Best Books About Investing That Are Actually Worth Reading | arvy
November 22, 2025
4 min read
📚 arvy's Book Club
arvy's Teaser: There are hundreds of books about money. Most repeat each other, some are outdated, many are trying to sell you something. Here are the 10 that actually make a difference — books we at arvy have read ourselves and that changed how we think about money, markets, and wealth building. From absolute beginner to experienced investor.
1All levels
The Psychology of Money — Morgan Housel
No book in the last decade has better explained why investing is less about maths and more about behaviour. Housel tells stories about people and money across 19 short chapters — and shows why a janitor can die with CHF 8 million while a Harvard MBA goes bankrupt. The central lesson: your behaviour with money matters more than your knowledge about money.
→ Why patience is the most important investing trait. → arvy's book review
2All levels
Die Kunst, über Geld nachzudenken — André Kostolany
The legend of the European stock market. Not an American, not an academic — a Hungarian speculator who lived to 93 and left behind market wisdom that still works today. His writing style is witty, personal, and filled with anecdotes from 70 years of market experience. No other book conveys so well why patience is the greatest virtue in the stock market.
→ "Buy shares, take sleeping pills, and after many years you'll see: you're rich." (Available primarily in German.)
3Intermediate
One Up on Wall Street — Peter Lynch
Peter Lynch managed the Magellan Fund at Fidelity from 1977 to 1990 — averaging 29% annual returns. His book isn't a textbook but a practical guide: how do you find good stocks in everyday life? Lynch argues that ordinary people have an edge over Wall Street analysts — because you know the products you use daily better than any fund manager.
→ His framework (Slow Growers, Stalwarts, Fast Growers) still works today. → How quality investing works
4All levels
The Millionaire Next Door — Thomas Stanley & William Danko
Most American millionaires drive used cars, live in unremarkable houses, and work in boring industries. 20 years of research, thousands of interviews, one conclusion: wealth isn't built through high income, but through low expenses and consistent investing.
5Beginner
Rich Dad Poor Dad — Robert Kiyosaki
The best-selling finance book of all time. The central idea: your house isn't an asset — it costs you money. Real assets put money in your pocket. "The poor work for money. The rich make money work for them." A word of caution: Kiyosaki's specific investment advice is controversial — take the mindset, not the details.
→ Understanding the difference between assets and liabilities. The perfect mindset shift for getting started.
6Beginner
The Richest Man in Babylon — George S. Clason
Written in 1926, set in ancient Babylon, and still the most relevant finance book for beginners. Short parables covering the fundamentals: "Pay yourself first." "Make your gold work for you." "Guard your treasure from loss." Read in 2 hours, effective for a lifetime. The principles are 4,000 years old and still work — because human behaviour with money never changes.
→ The perfect first step before diving into ETFs and Pillar 3a. → Start a savings plan
7All levels
The Little Book of Common Sense Investing — John C. Bogle
John Bogle invented the index fund. In this slim book, he explains why. Every franc you pay in fees is a franc that doesn't work for you. Over 30 years, 1.5% in fees eats a third of your wealth. Bogle uses data to show why low-cost, broadly diversified investing is almost always the right answer.
→ The power of low costs over long time horizons. → arvy fees: What you actually pay
8Intermediate
Thinking, Fast and Slow — Daniel Kahneman
Nobel laureate Kahneman explains why our brains systematically make wrong decisions — and why this is especially expensive when investing. Loss aversion: a loss of CHF 1,000 feels 2.5× more painful than a gain of CHF 1,000 feels good. That's why we sell too early and buy too late.
→ Why automation — like a savings plan — is the best defence against your own brain. → Investing despite crash fears
9Advanced
Reminiscences of a Stock Operator — Edwin Lefèvre
First published in 1923. The thinly veiled story of Jesse Livermore, one of Wall Street's most famous speculators. Insights about market psychology, timing, and discipline that are still quoted 100 years later. A literary masterpiece that reads like a novel.
→ "It was never my thinking that made the big money for me. It was always my sitting."
10Advanced
Richer, Wiser, Happier — William Green
25 years of interviews with the world's best investors — Mohnish Pabrai, Howard Marks, Sir John Templeton, Charlie Munger. Not a collection of strategies, but of mindsets. The best investors aren't the cleverest — they're the most disciplined. Simple rules often work better than complex models.
→ Investing, properly understood, doesn't just make you richer — it makes you wiser and more content.
Which Book First?
More book recommendations in the arvy Book Club — where we regularly review books our team has read.
Further reading
→ arvy Book Club — all book reviews
→ The 12 best investment movies of all time
→ The 8 best finance podcasts for Switzerland
→ The 15 best quotes about money and investing
→ How quality investing works
"And when you've finished reading: the most important thing is to start. Not tomorrow. Now."
Done reading? Now take action.
Set up a savings plan. Open Pillar 3a. Quality investing into the 30 best companies in the world. Compounding does the rest.
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.
