Choose 5 recommended stock books to read in 2025

Before entering the stock market, beginner investors should recognize that studying recommended books is their first line of defense. Choosing good books with awareness not only builds foundational knowledge but also helps you avoid mistakes that others have already experienced. In 2025, we have carefully selected five recommended stock books that can guide you from basic understanding to in-depth stock analysis.

Why Beginners Should Study Stock Books

Preparing and researching before investing is a wise decision. The more you learn about investing, the better your chances of avoiding common pitfalls in the market. While reading alone cannot guarantee you won’t make mistakes, it can significantly reduce errors caused by ignorance.

Conversely, if you don’t read any books, you might start by investing in mutual funds, letting fund managers make decisions for you. However, studying recommended stock books remains a valuable tool for those who want to control their financial destiny.

Recommended Stock Books for Beginners

Foundational Book: “Growing Stocks for Sustainable Results” by Kavi Chukitkasem

This book is considered the best starting point for new investors. Kavi Chukitkasem, a national stock analyst and Deputy Managing Director of Kasikorn Securities, explains value investing concepts from basic to advanced in easy-to-understand language. It covers topics from a company’s competitive edge to using ratios like P/E, P/BV, and ROE for valuation.

What makes this book interesting is its clear presentation with simple examples, allowing readers to grasp investment concepts concretely and make decisions based on solid principles. It’s highly suitable for beginners and serves as a foundation before moving on to more advanced texts.

For Those with Some Basic Knowledge: “The Intelligent Investor” by Benjamin Graham

This classic book by Benjamin Graham, the father of value investing, is highly praised. Warren Buffett, the world’s richest investor, regards it as the best investment book. Between 1936-1956, Graham achieved an average annual return of 20%, compared to the market’s 12.2%.

The book explains step-by-step investment strategies, dividing investors into two types: defensive (less knowledgeable, lower risk tolerance) and enterprising (more knowledgeable, seeking higher gains). The main challenge is that the language can be somewhat difficult, requiring effort to understand. Also, some concepts are over 70 years old and may not fully align with today’s market context.

For Those Interested in Thai Investment Philosophy: “Breaking Through: Strategies for Investing During Crises” by Dr. Nivesh Mewachirawara

Dr. Nivesh, the pioneer of value investing in Thailand, has written a diverse and profound series of books. “Breaking Through” marks the beginning of Thai investment legends and has transformed many investors’ lives.

This book’s uniqueness lies in sharing real experiences of investing in Thai stocks, with local examples you can apply immediately. The focus is on buying good businesses, letting management run the company, and holding shares for many years—over 10 if the business remains strong. If the business stays good, there’s no need to sell.

The limitation is that it doesn’t delve deeply into technical details; it provides a broad overview rather than specific technical guidance.

For Strategic Analysis: “One Up On Wall Street” by Peter Lynch

Peter Lynch, who managed the Magellan Fund for 13 years, grew its assets from $18 million to $14 billion. He categorized stocks into six types: slow growers, stalwarts, fast growers, cyclicals, turnaround stocks, and asset plays.

Lynch’s strength is in identifying high-potential stocks before others notice, using what he calls Tenbagger strategies—aiming for stocks that can increase tenfold. His book covers fundamental analysis, risk acceptance, and interpreting financial statements. It’s well-organized, engaging, and accessible even without extensive financial background. However, examples are all foreign stocks, which may not suit those focusing on Thai stocks.

For Investors with Basic Knowledge: “Buffettology” by Mary Buffett and David Clark

Warren Buffett, the world’s wealthiest investor, rarely reveals his techniques. This book, written by his former daughter-in-law, shares insights learned directly from Buffett, blending ideas from Graham, Munger, and personal experience.

It’s divided into two parts: the first explains qualitative valuation, and the second focuses on calculations using DCF (Discounted Cash Flow). Buffett’s approach views stocks as buying entire businesses, not just trading paper. The limitation is that it’s mainly suited for long-term investing, with complex content requiring in-depth analysis.

How to Choose the Right Stock Book for You

Not every book suits everyone. When selecting recommended stock books, consider:

Your Basic Knowledge Level: If you’re a beginner, choose books by Thai authors with simple language and Thai stock examples, such as Kavi’s or Dr. Nivesh’s.

Your Investment Style: If you’re interested in fast-growing stocks, read “One Up On Wall Street.” For low-risk, dividend-focused investing, choose Kavi’s books.

Available Time: If you have limited time, pick easy-to-read books without overly technical content. If you have more time, dive into more advanced, mathematical texts.

Interest in History: If you’re curious about the history and philosophy of investing, lessons from Graham remain valuable, even after decades.

Starting Your Investment Journey with Knowledge

Beginners should progress step-by-step. After studying recommended books, try paper trading (simulated trading) to familiarize yourself with market mechanics. Then, start investing in index funds or mutual funds, gradually moving toward selecting individual stocks.

The key is to choose recommended books written by Thai experts rather than translations, as local examples make the lessons more applicable, and Thai market signals differ from international markets.

The Keys to Long-Term Stock Market Success

While five valuable books exist, the real keys to beating the market are just three:

Market Timing: Buying at the right moments—buy low, sell high.

Asset Selection: Choosing assets with growth potential, not stagnant ones.

Asset Allocation: Diversifying across stocks, bonds, real estate, and cash in appropriate proportions.

All five recommended books offer techniques that can be applied practically. Education is a worthwhile investment. The most important thing is to select books suited to you, then consistently apply what you learn. Once you find your investment style, market success becomes a matter of time.