In this postscript, we list down the investment curriculum of Flow. In our opinion, these are by far the best investment related books of all time. They are categorised into core, seminal and delightful.

CORE

"The Little Book of Common Sense Investing", John Bogle

"The Little Book of Value Investing", Christopher Browne

"The Little Book that Beats the Market", Joel Greenblatt

“Choosing individual stocks without any idea of what you’re looking for is like running through a dynamite factory with a burning match. You may live, but you’re still an idiot.”

SEMINAL

"The Intelligent Investor", Benjamin Graham

"The Warren Buffett Portfolio", Robert Hagstrom

"The Warren Buffett Way", Robert Hagstrom

"The essays of Warren Buffett : Lessons for corporate America", Lawrence Cunningham

“Value Investing : From Graham to Buffett and Beyond”, Bruce Greenwald (revised 2022 edition, NOT the original 2001 edition)

“Rule #1”, Phil Town

“The Ultimate Dividend Playbook : Income, Insight & Independence for Today’s Investor”, Josh Peters (CFA)

"The Little Book of Valuation", Aswath Damodaran (original 2011 edition, NOT the revised 2024 edition)

"Narrative & Numbers : The value of stories in businesses", Aswath Damodaran

"Value Investing : Tools & Techniques for the Intelligent Investor", James Montier

“Theoretically, discounted cash flow (DCF) is the correct way of valuing an asset. However, as Yogi Berra noted, “In theory, there is no difference between theory and practice. In practice, there is.”

"Stocks for the long run", Professor Jeremy Siegel

"What works on Wall Street", James O'Shaughnessy

"The New Rules for investing now : Smart portfolios for the next 15 years", James O'Shaughnessy

"One up on Wall Street", Peter Lynch

"Irrational Exuberance", Robert Shiller

"Winning the loser's game", Charles Ellis

"A random walk down Wall Street", Burton Malkiel

"Common sense on mutual funds : New imperatives for the Intelligent Investor", John Bogle

"Common stocks & Uncommon profits", Philip Fisher

“Quantitative Value : A practitioner’s guide to automating intelligent investment and eliminating behavioural errors”, Wesley Gray, PhD and Tobias Carlisle, LLB

DELIGHTFUL

"Supermoney", Adam Smith

"Liar's Poker", Michael Lewis

"The Big Short", Michael Lewis

"Flashboys", Michael Lewis 

"The Richest Man in Babylon", George Clason

"Where are the customers' yachts ?" Fred Schwed

“Once in the dear dead days beyond recall, an out of town visitor was being shown the wonders of the New York financial district. When the party arrived at the Battery (Battery Park), one of his guides indicated some handsome ships riding at anchor.

The guide said: “Look, those are the bankers’ and brokers’ yachts.”

Asked the naive visitor: “Where are the customers’ yachts?”