Brothers' investment is the realization of cognition. Inventory level Value Investment Booklist (10 books worth reading repeatedly) The 10 books compiled today suggest that everyone build their own 'arsenal' in order. 1. "The Intelligent Investor" - by Benjamin Graham Reason one: The pioneering work of value investing is a "constitution" that all investors must read before entering the market. Recommendation Reason 2: Proposed two core concepts of "safety margin" and "Mr. Market", teaching you to stay clear headed in the noisy market. Reason three for recommendation: The core of this book is risk control, which tells you how to become a defensive investor and protect the safety of your capital. 2. "Buffett's Letter to Shareholders" - Author: Warren Buffett (edited by Lawrence Cunningham) Recommendation reason one: It is the most authentic "primitive" of value investing. Buffett has never written a book, but his decades of thinking are all in letters. Reason 2 for recommendation: A deep understanding of what "moats" and "safety margins" mean is the starting point of all investment logic. Reason three for recommendation: Learn how to think like a business leader, rather than just focusing on stock price fluctuations. 3. The Buffett Way - Author: Robert Hagstrom Recommendation reason one: It summarizes Buffett's scattered investment philosophy into actionable "four dimensions and twelve principles". Recommendation reason two: It is very suitable as the first stepping stone for beginners to enter the Buffett thought hall. Recommendation reason three: Detailed analysis of classic cases such as Coca Cola, teaching you how to analyze business models step by step. 4. The Poor Charlie Codex - Author: Charlie Munger (edited by Peter Kaufman) Recommendation reason one: The pinnacle of interdisciplinary thinking models, teaching you how to look beyond finance and invest. Reason 2 for recommendation: The "Psychology of Human Misjudgment" section is a must read for every investor, helping you avoid cognitive pitfalls. Recommendation reason three: Establish a long-term outlook on life and understand the true meaning of "slow is fast". 5. "How to Choose Growth Stocks" - Author: Philip Fisher Recommendation reason one: Buffett claims to be "15% Fisher+85% Graham", and Fisher is the pioneer of researching high-quality growth stocks. Reason 2 for recommendation: The innovative "Scuttlebutt" method teaches you how to see through a company's competitiveness through non financial information. Recommendation reason three: Help you establish an aesthetic of "not only cheap, but also excellent" when selecting stocks. 6. "Peter Lynch's Successful Investing" - Author: Peter Lynch Reason for recommendation one: The pioneer of "street stock selection method" teaches you how to discover great companies from daily consumption. Reason 2 for recommendation: The famous "six stock classification methods" give you clear tactical expectations for different targets. Recommendation reason three: Highly approachable language that breaks the superstition of professional analysts and reshapes the investment confidence of ordinary people. 7. "Conquering Wall Street" - Author: Peter Lynch Recommendation reason one: This is Lynch's practical summary before retirement, which includes his specific analysis logic on 21 industries. Reason 2 for recommendation: This article provides a profound explanation of the application of the "PEG" valuation method, teaching you how to find a balance between growth and valuation. Recommendation reason three: Emphasize patience and diligence, telling you that even geniuses need a lot of visits and research. 8. "Duan Yongping Investment Q&A Record" - Author: Duan Yongping Reason for recommendation one: A Duan is a "sweeping monk" in the Chinese price investment industry, who explains Buffett's philosophy in plain language. Reason 2 for recommendation: The logic of "duty" and "not on the list" can greatly simplify your investment decisions. Recommendation reason three: Deeply understand that "buying stocks is buying companies", this is the most down-to-earth practical manual for Chinese investors. 9. "Practical Handbook of Value Investment" - Author: Tang Dynasty Recommendation reason one: How to conduct specific enterprise valuation and buying and selling point management in the Chinese context. Reason 2 for recommendation: Share practical cases candidly, not only discussing the logic of making money, but also the evolution of cognition. Recommendation reason three: Established a complete investment loop, from screening to holding to exiting, in one go. 10. "Cycle" - Author: Howard Marks Recommendation reason one: It organizes complex and ever-changing economic cycles, industry cycles, and market cycle patterns into a clear and understandable analytical framework, and extracts practical methods for cycle judgment and decision-making. Recommendation reason 2: It is very suitable as an introductory guide for investors to establish "cyclical thinking", helping beginners to see through the essence of market volatility and avoid common misconceptions of chasing after gains and selling losses. Recommendation reason three: Detailed analysis of classic cases of multiple economic booms and downturns and market bull bear transitions in history, teaching you step by step how to identify cycle stages and seize investment opportunities. I have always believed that learning knowledge and accumulating experience are all about building one's own 'knowledge building'. This building is a arsenal for people to face the world, a resource pool, and a super brain. And the books recommended today are the instructions for building this super brain, or the execution standards. Because I have read every book, even several times, and I deeply understand that good things cannot be enjoyed alone, so I am sharing it today.