2025 Stock Investment Must-Read List: 5 Books to Take You from Beginner to Investment Expert

Looking to establish a foothold in the stock market? The key is not luck, but knowledge accumulation. This year, we have selected 5 classic หนังสือหุ้น for novice investors, each capable of lighting the way on your investment journey.

Essential Reading for Beginners: Choosing the Right First Book

There are countless หนังสือหุ้น in the market, but only a few are truly worth your time. Picking the right book is equivalent to choosing the right investment direction. The 5 recommended titles below are all tested by the market and praised by investors as classics.

Detailed Explanation of the Five Must-Read Books

📚 First: 《Stocks for Long-Term Profits》 - Gowri Shukla

Recommended Index: ⭐⭐⭐⭐⭐

Why recommend: Explains the core logic of value investing in the simplest language. The beauty of this book is that it avoids boring theoretical quagmires, instead using plain language and vivid examples to help beginners quickly get started.

Suitable for: Complete beginners with zero foundation, friends wanting to start from stock basics

Core Content Overview:

• Starts from the fundamentals of value investing (Value Investor), gradually deepening
• Covers qualitative factors like competitive analysis, supplier negotiations, and quantitative metrics like gross margin, ROE
• Concludes with simplified valuation models (P/E, P/BV, ROV relationships)
• Author Gowri is recognized as a pioneer of value investing in Thailand, currently vice president of a major securities firm

Investment Philosophy: Hold quality companies long-term, relying on both dividends and stock appreciation. The buy-in principle is to wait until the stock price is truly cheap, rather than blindly dollar-cost averaging.

Advantages: Clear logic, a complete cognitive framework from one book; case studies are all local Thai stocks, making it easier to relate

Disadvantages: Content leans toward basics, limited depth; not suitable for experienced investors

📚 Second: 《The Intelligent Investor》 - Warren Buffett recommends

Recommended Index: ⭐⭐⭐⭐

Why recommend: Known as the “bible” of value investing. This book’s systematic and professional approach far surpasses similar titles, helping investors with some foundation build a complete investment system.

Suitable for: Investors with basic stock knowledge seeking to advance

Core Content Overview:

• Explains correct investment mindset and strategies, distinguishing between passive and active investors
• Deep dives into reading financial statements and identifying truly valuable companies
• First published in 1949, proven through markets, unparalleled in classic status
• Author Benjamin Graham, father of modern value investing, created a legendary 20% annual return

Investment Philosophy: Use rational analysis instead of emotional decisions; avoid speculation, focus on margin of safety; choose strategies based on investor type.

Advantages: Solid theory, regarded as the highest textbook in investing; highly endorsed by Buffett himself

Disadvantages: Language can be somewhat obscure, may require multiple readings for non-financial backgrounds; some theories are over 70 years old, needing modern interpretation

📚 Third: 《Stock Market Secrets in Times of Crisis》 - Nivish Haimevachirivong

Recommended Index: ⭐⭐⭐⭐⭐

Why recommend: A pioneering work of Thai value investing thought. This book uses storytelling to teach investing, making it fun and easy, especially suitable for beginners wanting quick entry.

Suitable for: Anyone starting to invest in หุ้นของไทย (Thai stocks)

Core Content Overview:

• Essential lessons before investing: what do you need to understand?
• Crises often hide opportunities; teaches how to seize chances amid volatility
• Nivish is a trailblazer in Thai value investing, with over 15 related books published
• The 1995 edition of 《Stock Market Secrets in Times of Crisis》 became an enlightenment read for a generation of investors, with profound influence

Investment Philosophy: Buy quality companies and hold long-term (usually over 10 years). Emphasizes investing with a “business owner mindset,” using idle funds, starting as early as possible.

Advantages: All case studies are local Thai stocks, highly practical; explanations are simple and engaging

Disadvantages: Content is broad, lacks deep technical analysis; more suited for establishing investment concepts than detailed operational skills

📚 Fourth: 《Beyond Wall Street》 - Peter Lynch and John Rothchild

Recommended Index: ⭐⭐⭐⭐

Why recommend: A masterwork of storytelling in investing. Covers all aspects of fundamental analysis, rich in content yet easy to understand, no financial background needed.

Suitable for: Investors with experience or those wanting to learn fundamental analysis in depth

Core Content Overview:

• Divides stocks into 6 types: low-growth, stable, high-growth, cyclical, turnaround, asset-based
• Explains how to identify “tenbaggers” (Tenbagger)—stocks with tenfold potential
• Peter Lynch, legendary fund manager, grew Magellan Fund from $18 million to $14 billion in 13 years
• Lynch firmly believes amateur investors can also succeed in the stock market

Investment Philosophy: Seek companies with 10x growth potential, like aiming for home runs in baseball. Emphasizes overlooked opportunities around you.

Advantages: Complete system covering various stock-picking dimensions; writing style is relaxed and engaging

Disadvantages: Thai translation sometimes lacks precision; many examples are foreign stocks, limited local references

📚 Fifth: 《The Warren Buffett Way》 - Mary Buffett and David Clark

Recommended Index: ⭐⭐⭐⭐⭐

Why recommend: Reveals Buffett’s investment secrets. Contains little-known techniques like tax optimization using bonds, with interesting and profound content.

Suitable for: Intermediate investors with some experience

Core Content Overview:

• Divided into two parts: qualitative assessment and quantitative calculation
• Includes case studies of Buffett’s investments
• Shows how Buffett uses discounted cash flow (DCF) models for valuation
• Author is Buffett’s former daughter-in-law, first to disclose family investment secrets publicly

Investment Philosophy: Select stocks from a “partner-run enterprise” perspective; combines ideas from Graham and Munger to form a unique methodology.

Advantages: Professional yet easy to understand; mathematical models are challenging but logical

Disadvantages: Later sections are complex, requiring some math and finance background; mainly focuses on long-term strategies

How to Choose Your First หนังสือหุ้น?

( Why must investment beginners read books?

Before entering the stock market, it’s wise to “arm yourself.” Good investment knowledge acts like a shield, helping you avoid common rookie pitfalls. Every good book recounts mistakes made by predecessors, giving you the best chance to avoid risks.

Investors who read more tend to avoid big pitfalls better than those who read less—but that doesn’t mean they won’t make mistakes. No one is immune on the road of investing.

) Can you really invest without reading?

In theory, yes, but with great difficulty. The most practical alternative is investing in funds, letting professionals manage for you. But regardless of your choice, learning investment knowledge is unavoidable. No one is born knowing how to invest; all successful investors start with reading and practice.

Book selection tips: Prioritize หนังสือหุ้น by Thai authors, for simple reasons:

• Local authors’ language is closer to your thinking habits
• Cases are all Thai stocks, more applicable
• Avoid information loss during translation
• Better understanding of the characteristics of the Thai ตลาดหุ้น

Three Long-Term Weapons to Outperform the Market

1. Market Timing ###Market Timing###

Not every moment is worth entering. Good investors wait for truly cheap prices, rather than following the crowd blindly. This principle applies to both short-term trading and long-term investing.

( 2. Asset Selection )Asset Selection### Choosing the wrong target is futile even with perfect operation. You must pick assets that can steadily grow over the long term; otherwise, even avoiding inflation risk won’t guarantee profits.

( 3. Asset Allocation )Asset Allocation### Don’t put all eggs in one basket. Balanced allocation among bonds, stocks, real estate, and cash can effectively reduce volatility and ensure steady growth of your portfolio over time.

What to Do After Reading?

( Step-by-step Investment Roadmap

Follow this pace:

Step 1: From simple to complex, start with a basic book (recommend starting with 《Stocks for Long-Term Profits》)

Step 2: After solidifying basics, try small investments, such as domestic index funds

Step 3: Gradually deepen your knowledge by reading the other 4 books, each opening new investment perspectives

Step 4: Once you have enough knowledge, consider investing in foreign stocks

Final Words

Every successful investor has their own style and methodology. These 5 หนังสือหุ้น, though diverse in perspective, share core wisdom. The key is to find what suits you and stick to it.

The purpose of reading isn’t to become a theorist, but to make smarter decisions in the market. I hope this recommended list becomes a good start for your investment journey. From today, pick a book, open it, and let knowledge be your best investment. 💡