Investing has grown massively in popularity in Ireland over the past number of years, but there is still not many Irish dedicated investing books that can help you expand your investing knowledge (but taking into account Irish specific rules).
In this article, we will go rank the top 5 must-read books for any beginner investor in Ireland.
#1 “How to be Good with Money” by Eoin McGee
Eoin McGee’s first book will help you get your house in order, which is essential for anyone considering investing.
- How best to spend the money you have?
- How best to get out of debt?
- How to start saving for the things that matter to you? How to look after your financial future?
- How to retire early?
#2 “How to Make your Money Work” by Eoin McGee
This is Eoin McGee’s second installment which questions the relationship we have with money and how it impacts the financial decisions we make.
Questions posed by Eoin are:
- Why do we feel good spending money in a shop, but suffer buyer’s remorse when we get home?
- Why do some of us hoard our cash and others find it burns a hole in our pocket? –
- How has our upbringing affected us financially today and is your financial future down to nature or nurture?-
- But most importantly of all by learning about our financial past, by identifying our traits and the reasons for them.
This may seem unrelated to investing, but understanding the emotional baggage you are carrying when it comes to your personal finances is vitally important for long-term success.
#3 “The Irish Investors’ Guidebook” by Walter Dunphy
In Ireland we play by a completely different set of rules to the likes of investors in the UK or US. Yet still many will beginner investors in Ireland will rely on educational material from the like of YouTubers such as Andrei Jikh and Graham Stephan.
What you really need to know is the ins and outs of the Irish tax system when it comes to investing.
“The Irish Investors’ Guidebook” is a definitive guide to investing in Ireland that is jam-packed with useful information and examples. Here is a couple of topics that are covered in the book:
– Capital Gains Tax
– Learning how to file your own capital gains tax return (CG1) with our step-by-step guide and real-life example
– Exit Tax
– Deemed Disposal
– Dividends
– FIFO
– Wash Sales
– Tax residency rules
– B&B Sales Strategy
– Crypto Taxation
#4 “The Intelligent Investor” by Benjamin Graham
“The Intelligent Investor” by Benjamin Graham is a timeless classic that offers invaluable insights into the world of investing. Here’s a summary to convince you that it is worth a read.
“The Intelligent Investor” is a must-read for anyone looking to build a solid foundation in investing. The book provides a comprehensive guide to value investing and sound financial practices.
Graham’s core philosophy centers on the concept of “margin of safety,” which involves buying stocks at prices significantly below their intrinsic value to protect against market fluctuations. He emphasizes the importance of a defensive approach to investing, focusing on minimizing risks while seeking long-term gains.
The book introduces the concepts of Mr. Market and the difference between an investor and a speculator. Graham uses the allegory of Mr. Market to illustrate the irrational behavior of the market and how investors can take advantage of its fluctuations. He encourages investors to adopt a patient and disciplined mindset, avoiding emotional reactions to market swings.
“The Intelligent Investor” delves into various investment strategies, including both defensive and enterprising approaches. Graham discusses different types of stocks and bonds, offering practical advice on how to analyze financial statements and evaluate companies for investment. He also introduces the idea of dollar-cost averaging as a strategy to mitigate the impact of market volatility.
One of the most notable features of the book is its introduction of the concept of intrinsic value and the importance of conducting thorough fundamental analysis. Graham provides methods for estimating intrinsic value and recommends a margin of safety when purchasing stocks, emphasizing the significance of long-term perspective.
Throughout the book, Graham emphasizes the difference between investing and speculation, highlighting the importance of patience, discipline, and a rational approach. He addresses common pitfalls and psychological biases that investors often face and provides strategies to counteract these tendencies.
“The Intelligent Investor” offers readers a wealth of knowledge, combining timeless investing principles with practical advice that is relevant in any market environment. It’s a book that not only teaches the fundamentals of investing but also imparts the wisdom of a seasoned investor, making it a valuable resource for both beginners and experienced investors alike. By reading this book, individuals can gain a deeper understanding of how to navigate the complexities of the financial markets and make informed decisions that align with their long-term financial goals.
#5 “One Up On Wall Street” by Peter Lynch
“One Up On Wall Street” by Peter Lynch is an insightful and engaging book that offers a unique perspective on successful investing. Lynch, a renowned fund manager, shares his practical wisdom and personal experiences to guide both novice and seasoned investors.
In “One Up On Wall Street,” Peter Lynch presents an approachable and down-to-earth guide to investing that challenges the notion that successful investing is reserved for experts. He encourages readers to leverage their everyday experiences and observations to identify promising investment opportunities. Lynch emphasizes the concept of “buying what you know” — investing in companies whose products or services you personally use and understand.
Disclaimer: This is blog post is for informational and educational purposes only and should not be construed as financial advice.