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MARKET COMMENT
Become A Better Investor Over Christmas

By Maynard Paton (TMFMayn)
December 10, 2003

The Christmas holidays: a time for eating too much turkey, falling asleep in front of the television, rowing with the in-laws and, um, assessing your stock market performance for the year just gone. So if you know your portfolio has suffered in 2003, why not spend the festive season immersing yourself in the wisdom of some stock market gurus?

Top of everybody's Christmas reading list should be The Essays Of Warren Buffett. Eloquently distilled from his Shareholders' Letters, there's no better way to discover how Mr Buffett amassed a $39b stock market fortune. Among the raft of other good books on Buffett are Warren Buffett: The Making Of An American Capitalist, The Midas Touch and The Warren Buffett Way.

In addition to these ten books to improve your portfolio, Common Stocks and Uncommon Profits, by Philip Fisher, is a must-read for tech stock fanciers. Meanwhile, small-cap investors are served very well by A Zebra in Lion Country, in which author Ralph Wanger outlines how he produced a 17.2% annual average return over 30 years. And as well as writings by Ben Graham and David Dreman, disciples of value ought to have a copy of John Neff On Investing in their library. Neff's fund turned $1 into $56 in 31 years.

For those with a gloomy outlook for 2004, John Rothschild's very readable Survive and Profit in Ferocious Markets - the Bear Book will cheer up anybody who missed out on this year's market rebound. Don't forget Evil's Good Book of Boasts either, where renowned short-seller Simon Cawkwell describes how to profit from company disasters.

Punters wishing to brush up on their accounting in the holidays ought to consider Accounting For Growth. Terry Smith's 'survival techniques for the accounting jungle' should help you avoid the next Enron. Reading Between the Lines of Company Accounts is another good primer into the mysterious world of bookkeeping.

Finally, for those who prefer slightly easier reading during the break, Extraordinary Popular Delusions and the Madness of Crowds, Where Are The Customers' Yachts? and 500 of the Most Witty, Acerbic and Erudite Things Ever Said About Money are great alternatives to watching The Great Escape.

More: The Best Books On Buffett | Ten Books To Improve Your Portfolio | Fool Bookshop