The Compounding Power of Great Books: 105 Timeless Books from The Joys of Compounding
One of the greatest joys of reading truly great books is that they often lead us to many more. Every thoughtful author brings with them the voices, ideas, and influences of other great minds, opening up entire libraries of wisdom waiting to be explored.
Gautam Baid’s The Joys of Compounding is one such gem. It’s not just a book on investing; it’s a beautifully layered work that weaves together philosophy, psychology, decision science, history, personal growth, and timeless wisdom. What makes it even more valuable is how it references and quotes a diverse array of foundational works—books that have shaped Baid’s thinking and, by extension, can shape ours.
In this post, I’ve curated a list of 105 books mentioned or quoted in The Joys of Compounding. These books span a range of disciplines—from investing and behavioral science to leadership, economics, and personal development. Together, they form a rich mental latticework that rewards the patient reader with perspective, clarity, and compounded wisdom.
The list is divided into the following seven categories.
- Investing & Finance
- Decision-Making, Psychology & Behavioral Science
- Biographies & Business Leadership
- Self-Improvement & Personal Development
- Economics, History & Classics
- Science, Technology & Big Ideas
- Narrative Nonfiction, Miscellaneous & Literary Business Classics
Let this list be a compass for your own journey of lifelong learning. Whether you’re just beginning to explore these ideas or are revisiting them with fresh eyes, may it spark curiosity, reflection, and growth.
Let the compounding of knowledge begin.
Investing & Finance
Books focused on investment principles, markets, valuation, capital allocation, and personal finance.
1. The Intelligent Investor – Benjamin Graham
Year: 1949
Genre: Investing
Widely regarded as the definitive guide to value investing, this classic emphasizes long-term thinking, discipline, and a margin of safety.
2. Security Analysis – Benjamin Graham and David Dodd
Year: 1934
Genre: Investing / Valuation
A foundational text for investment professionals, focusing on deep analysis of bonds, stocks, and financial statements.
3. Margin of Safety – Seth Klarman
Year: 1991
Genre: Value Investing
A cult classic among value investors, it details how to minimize risk and maximize returns through a cautious, contrarian approach.
4. Common Stocks and Uncommon Profits – Philip Fisher
Year: 1958
Genre: Growth Investing
Introduces qualitative investing techniques and “scuttlebutt” research to evaluate a company’s long-term prospects.
5. You Can Be a Stock Market Genius – Joel Greenblatt
Year: 1997
Genre: Special Situations Investing
A practical and humorous guide on how to find hidden investment opportunities in spin-offs, mergers, and restructurings.
6. The Warren Buffett Way – Robert G. Hagstrom
Year: 1994
Genre: Investing / Biography
Offers insights into Buffett’s investing style, including his focus on business quality, management, and valuation.
7. The Dhandho Investor – Mohnish Pabrai
Year: 2007
Genre: Value Investing
Explains a straightforward framework for low-risk, high-reward investing inspired by Buffett and Munger.
8. Charlie Munger: The Complete Investor – Tren Griffin
Year: 2015
Genre: Investing / Decision-Making
A concise introduction to Munger’s multidisciplinary thinking and rational investment philosophy.
9. Investing: The Last Liberal Art – Robert Hagstrom
Year: 1999
Genre: Investing / Multidisciplinary Thinking
Advocates using mental models from various disciplines—psychology, physics, biology—to make better investment decisions.
10. Value Investing and Behavioral Finance – Parag Parikh
Year: 2009
Genre: Value Investing / Behavioral Finance
Combines value investing with behavioral insights to explain investor psychology and its impact on markets.
11. Capital Returns: Investing Through the Capital Cycle – Edward Chancellor
Year: 2015
Genre: Capital Cycle Investing
A collection of investment memos explaining how capital flows and competition impact long-term returns.
12. Pioneering Portfolio Management – David Swensen
Year: 2000
Genre: Institutional Investing
Describes the Yale endowment strategy and emphasizes asset allocation, diversification, and long-term horizon.
13. What Works on Wall Street – James O’Shaughnessy
Year: 1996
Genre: Quantitative Investing
Uses historical data to show which investment strategies have consistently outperformed over time.
14. Beating the Street – Peter Lynch
Year: 1993
Genre: Personal Finance / Investing
Intro: A follow-up to his best-seller, Lynch shares real examples of stock picking and how everyday investors can beat professionals.
15. One Up on Wall Street – Peter Lynch
Year: 1989
Genre: Personal Finance / Investing
Lynch encourages individual investors to use what they know and observe to find winning stocks before Wall Street catches on.
16. Learn to Earn – Peter Lynch
Year: 1995
Genre: Investing / Beginner’s Finance
A beginner-friendly introduction to how businesses and the stock market work, aimed at teens and adults alike.
17. The Most Important Thing Illuminated – Howard Marks
Year: 2011
Genre: Investment Philosophy
A collection of memos on risk, value, and patience from one of the most respected voices in investing.
18. Deep Value – Tobias E. Carlisle
Year: 2014
Genre: Contrarian / Value Investing
Explores how undervalued stocks with poor performance often become top performers through mean reversion.
19. The Outsiders – William Thorndike
Year: 2012
Genre: Capital Allocation / Business Strategy
Highlights eight unconventional CEOs who created enormous value through rational capital allocation rather than flashy leadership.
20. The Snowball: Warren Buffett and the Business of Life – Alice Schroeder
Year: 2008
Genre: Biography / Investing
A deeply researched biography that intertwines Buffett’s personal life with his business philosophy and investment approach.
That’s an awesome collection.
Have read most of them
One highly underrated book that fails to make most lists & has the wonderful counter intuitive insights is Man for All Markets by Ed Thorpe
It’s amazing Arvind that you’ve read most of them. I’ve made my To-Read list from this collection.
I’ll definitely checkout for “Man of All Markets by Ed Thorpe”.