How many times have you picked up a book to try to understand some concepts and theories, or simply to learn how a certain process or mechanism works? This is no different from reading a book to figure out ways to save, invest, or spend your money wisely.

Managing your money requires some financial knowledge, a road map combined with a strategy, and the drive and discipline to stay on top of it. Many have argued that there are keys to being financially successful; others believe there are no clear-cut rules. I believe there is some truth to both perspectives. Yet, an observation attributed to Confucius: “Study the past if you would define the future,” helps us understand many of the financial pitfalls.

The article, “The 27 Most Important Finance Books Ever Written” by Akin Oyedelei introduces books about finance that have had a long-lasting effect. These books are considered “la crème de la crème” when it comes to the empirical approach to finance. The range of topics covered in these books helps us understand some of the fundamental financial theories and their applications. Many of these books prepare you to weather economic downturns and financial crises.

Real Life Examples

The authors of these 27 books are all passionate about at least one, and sometimes several, segments of the financial spectrum. While some of these practitioners (Benjamin Graham, David Dodd and Peter Lynch, for example) focus on investment opportunities, others (such as John Burr Williams, Philip Fisher, Charles Mackay and Nassim Nicholas Taleb) remain intrigued by the velocity of the economic environment. The books provide real life events, activities and situations to mirror the responses and reactions of investors and organizations.

Some of these books retrace the biggest financial crises in the world. Even decades after many of the events occurred, people still have questions … and these books shed a bit of light on the situations.

One element that transcends each book is the human response during crises. Human behavioral investment is one of the main drivers of the market, and often you will hear financial advisors repeat a famous admonishment from Warren Buffet, “Fearful when others are greedy and greedy when others are fearful.” This statement is directly related to the price and value of an asset. Where some are worried about investing in assets, others may see good value in buying opportunities.

Your Own Financial Journey

These 27 books about finance are also a great read for scholars and researchers trying to comprehend not only market behaviors, but also investment trends and potential. Whether you are a novice, or an advanced financial analyst, they provide key examples and references for your particular purpose(s).

Perhaps you are someone who wants to embark on a financial learning journey, and you’re looking to equip yourself with knowledge that will set you apart as that “go-to person.” You know, the “one with the answers” for your family, friends, co-workers, classmates, or even community. Reading these 27 books will definitely pave the way on your path to becoming an expert … or at least someone who knows a whole lot more about the financial world than the average Joe out there.

And if you want to take an official academic approach to financial learning, there are plenty of courses in Grantham University’s Mark Skousen School of Business that could boost your knowledge. In fact, there are even degree programs that really dig into the specifics, such as the Bachelor of Business Administration in Financial Planning.

Knowledge is key, especially in the financial field. As the saying goes, “If you want to be powerful in life, educate yourself.”

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While we’re on the topic of all things financial, we should probably mention a handful of other recent Grantham Blog posts you might want to check out:

Dr. Boubacar VilaneAbout Dr. Boubacar Vilane

Dr. Boubacar Vilane spent more than a decade in the financial, banking and real estate industries working for Edward Jones, State Street Bank, KeyBank Real Estate Capital and J.P Morgan. He holds a series 7. 6 and 63 FINRA/SEC licenses. Vilane earned a Master of Business Administration from Emporia State University and a Master in Economics from Cheikh Anta Diop University. He then went on to earn a Doctorate in Business Administration at Columbia Southern University.