A Summer Reading List for Better Stock Picking

I used to read just one book at a time. I'd feel almost guilty if I started a new book while still in the middle of another, as if I were cheating on the first. But age has changed me, and now I often find myself reading five to 10 books at a time, stealing moments with each one of them while I ride a train, before I go to bed and as I wait between meetings.

Lately, I've been reading a great group of books about investing and entrepreneurship. I'm sharing my selections by posting my full reading list on Stockpickr. If you have any book suggestions for me, please feel free to post them here. Here are a few picks from my list.

The Dhandho Investor: The Low-Risk Value Method to High Returns by Mohnish Pabrai.

I profiled Pabrai in my book Trade Like Warren Buffett, and I also featured him in my series of columns on Warren Buffett's search for a new apprentice.

Pabrai is a deep-value investor in the original style of Benjamin Graham and David Dodd. He structures his fund in a similar fashion to Buffett's original hedge fund -- with no management fees, he only makes money when there is outsized performance.

Pabrai's returns have been nothing short of remarkable since he's started. The Dhandho Investor describes his investment philosophy by looking at several examples from both entrepreneurs -- for instance, he profiles Richard Branson -- and investors and determining how they apply a similar philosophy toward identifying high-probability investments. He then relates these findings to his own investment philosophy, offering case studies on several of his own investments.

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