by Christopher Jones (2008). The best book on investing in bonds, mutual funds, stocks, ETF and so on I’ve encountered. It is written for the intelligent layperson. The author, the CEO of an investment company, is a strong believer in the Random Walk theory and tailors his advice accordingly: there is no free lunch, mistrust any get-rich-quick scheme, go for inexpensive index funds, minimize any and all fees, invest for the long-term, be tax-wise and so on. He focuses on the very large fluctuations of financial markets (e.g., the standard deviation of annual returns for the US equity market is an astonishing 20%) and on the relationship between risk (that is, variance) and returns. The book is thoughtful, often analytical, without being prone to endless repetitions and silly examples. In today’s age, when you have the good fortune to be the master of your own finanical future but money matters always bored you and you only want to read one book, then let it be this one.