Value investing is more than a strategy—it’s a mindset. It’s about patience, discipline, and smart choices. Learning from the best can help you build that mindset faster. Many books about value investing offer timeless lessons.
Funny enough, Warren Buffet has never written a book himself, but lots have been written about him. These reads can sharpen your thinking and guide better value investments. Here are some of the best value investing books to get you started.
1. “The Intelligent Investor” by Benjamin Graham
Often called the foundation of value investing, this book is a must-read. Benjamin Graham taught Warren Buffett, who calls it “ by far the best book on investing ever written.” The book covers core principles like buying undervalued stocks, managing risk, and staying emotionally balanced.
It introduces the idea of a “margin of safety,” which helps protect your investments from unexpected losses. It’s not just a good book about investments, but it’s also a great book about wealth management. If you're serious about value investments, this classic belongs on your shelf.
2. “Security Analysis” by Benjamin Graham and David Dodd
This book takes value investing a step further. It’s more advanced than The Intelligent Investor but just as valuable for those who want to go deeper. Graham and Dodd break down how to:
- analyze financial statements
- spot undervalued stocks
- assess a company’s true worth
The focus is on detailed research and long-term thinking. If you want to build confidence in your analysis and make smarter value investments, this book delivers the tools.
3. Common Stocks and Uncommon Profits by Philip Fisher
This book adds a fresh angle to value investing. Philip Fisher looks beyond numbers and focuses on the quality of a business. It’s a competent combination of leadership, growth potential, and competitive edge. Warren Buffett has said his approach is a blend of Graham and Fisher.
That alone makes it worth reading. If you're looking for a good book on value investing that also sharpens your eye for strong companies, this one is a standout.
4. “The Little Book of Value Investing” by Christopher H. Browne
This book makes value investing simple and accessible. Christopher Browne explains how to find undervalued stocks without using complex formulas. It’s clear, direct, and full of practical advice.
New to value investing? It’s ideal for beginners because it covers key ideas like buying with a margin of safety and staying patient through market swings. If you're just getting started, this is a good book on value investing that’s easy to follow and hard to forget.
5. “Value Investing: From Graham to Buffett and Beyond” by Bruce Greenwald
This book connects the past with the present. Bruce Greenwald shows how classic value investing ideas have evolved and how modern investors apply them today.
It includes case studies of real value investments. The book explains how Buffett built on Graham’s principles, and explores different valuation methods. If you want to see how timeless strategies work in today’s market, this is one of the best value investing books to read.
6. “The Warren Buffett Way” by Robert G. Hagstrom
This book breaks down Warren Buffett's value investing strategy in plain language. It shows how he picks stocks, evaluates businesses, and sticks to long-term thinking.
Hagstrom doesn’t just list Buffett’s principles—he explains how to apply them. The book blends biography with practical insights, making it both inspiring and useful. If you’re curious about how Buffett built his fortune through smart value investments, this book is a solid choice.
7. “Deep Value” by Tobias E. Carlisle
This book focuses on buying stocks that are deeply undervalued. Tobias Carlisle argues that the biggest opportunities often come from companies the market has written off.
It challenges the idea that value investing is dead by using research and data to show why it still works. Carlisle explains how contrarian thinking and patience can lead to strong returns.
If you're looking for a bold, research-backed take on value investments, this book delivers.
8. “You Can Be a Stock Market Genius” by Joel Greenblatt
Don’t let the title fool you—this book is packed with smart, practical strategies. Joel Greenblatt explains how to find hidden value investments in special situations like spin-offs, restructurings, and mergers.
His tone is casual and the ideas are easy to follow, even if you’re new to investing. The book focuses on overlooked areas of the market where value can often be found.
It’s one of the best value investing books for thinking outside the box.
9. “The Dhandho Investor” by Mohnish Pabrai
Inspired by Warren Buffett and Benjamin Graham, Mohnish Pabrai lays out a simple framework for value investing with real-world examples. He focuses on buying low-risk businesses at bargain prices—what he calls “Heads I win; tails I don’t lose much.”
The book is clear, logical, and rooted in practical thinking. Pabrai shares personal investment stories and insights from managing his own fund.
It’s a great read if you want a no-nonsense approach to building smart value investments.
10. “Margin of Safety” by Seth Klarman
This rare and highly sought-after book digs deep into managing risk while investing. Seth Klarman, a respected fund manager, shows how protecting your downside is just as important as chasing gains.
He explains why patience, discipline, and skepticism matter in value investing, especially when markets are unpredictable.
Although it’s tough to find and pricey in print, it’s considered one of the best books about value investing by serious investors.
Build a Smarter Strategy with the Right Reads
Reading these books about value investing can shift how you approach the market. Invest in yourself with these books. They teach you to stay calm, think long-term, and focus on buying real value, not hype.
Whether you’re learning from Warren Buffett's value investing playbook or exploring new ideas, each title offers something useful. You should also consider working with a team that has helped many shape better habits and make smarter choices.
Stewart Willis is the founder and president of Asset Preservation Wealth & Tax, a financial planning firm in Phoenix, Arizona. Investment advisory services offered through Foundations Investment Advisors, LLC, an SEC registered investment adviser.
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