Alternative Investing Book List

Apr 6, 2023

2022 was the worst year for the typical 60/40 portfolio, losing about 17 percent according to Blackrock. As prices of stocks and bonds fell in lockstep last year, more investors sought to increase their allocations into alternative investments. However, since the term "alternative investments" includes everything from real estate, to private equity, to rare wines, it can be daunting to get started in alternative investing.

Our founder and CEO, Tory Reiss, has a list of favorite books and blogs that he shares with anyone interested in private market opportunities. Check out his list below. 👇

Books on Finance and Wealth Management

  • I Will Teach You to be Rich by Rami Sethi

    • We love how action-oriented this book is. Rather than providing the usual run-of-the-mill budgeting tips, Sethi provides unique tips on things like talking your way out of late fees and talking your way into a raise at work.

  • Pioneering Portfolio Management by David F. Swensen

    • This one is an Equi team-wide favorite! Old, but not dated. Educational, but not pedantic. This classic, especially relevant in today's economic environment, explains how to build a diversified portfolio that can leverage alternative assets and withstand market swings.

  • The Alchemy of Finance by George Soros

    • You can love him or you can hate him, but there's no denying that Soros is one of the greatest active investors of our time. This book is a great way to gain insight into his thought process and investing approach.

  • Thinking Fast and Slow by Daniel Kahneman

    • Although not exactly a book on finance and wealth management, "Thinking Fast and Slow" is an illuminating book on how we can avoid making irrational decisions, including around money and spending.

  • The Millionaire Next Door by Thomas J. Stanley and William D. Danko

    • A bit dated, but a good reminder that millionaires often become millionaires by rejecting flashy lifestyles and focusing on working hard, saving diligently, and living within their means.

  • The Simple Path to Wealth by JL Collins

    • While the author advocates for index funds and equities long-term and does not appear to be a huge fan of alternative investing, he does an excellent job of explaining important financial instruments such as 401(k)s, IRAs, Roth IRAs, TRFs, HSAs, and a slew of other acronyms.

  • The Richest Man in Babylon by George S. Clason

    • This is the book to read if you learn best through parables and storytelling. The advice offered is simple and actionable.

  • Your Money or Your Life by Vicki Robin

    • Have you calculated every cent you've ever made in your life and what currently remains in your bank account? Vicki Robin's book takes you through several exercise and a 9-step program to take back control over your financial life.

  • The Bogleheads' Guide to Investing by Mel Lindauer, Taylor Larimore, Michael LeBoeuf

    • As suggested by the title, this guide espouses the investing beliefs of John C. Bogle, founder of Vanguard.

  • A Random Walk Down Wall Street by Burton G. Malkiel

    • For those who have more of an interest in trading and the stock market, this book dives deep on the concept of efficient markets and the implications for investors.

  • Why Smart People Make Big Money Mistakes by Gary Belsky & Thomas Gilovich

    • Few things in life cause people to make emotional decisions as money. Focusing on the psychology behind financial decisions, the authors provide wise advice on avoiding the pitfalls of financial faux pas.

  • Intelligent Asset Allocator by William Bernstein

    • Bernstein covers a wide range of topics in his book, from the history of asset allocation to behavioral finance. He also includes a comprehensive section on active versus passive investing, market timing, and tactical asset allocation.

  • The Four Pillars of Investing by William Bernstein

    • Another one by Bernstein, this book emphasizes the importance of diversification across asset classes and defines four pillars of investing: 1) portfolio theory, 2) market history, 3) behavioral finance, 4) investment funds

  • One Up On Wall Street by Peter Lynch

    • Written by one of the most successful money managers Peter Lynch, this book shares Lynch's investment philosophy which focuses on the importance of investing in what you know, conducting robust due diligence, and being savvy about seeking out growth opportunities.

  • Debt: the first 5000 years by David Graeber

    • A fascinating new view on the concept of debt, this book argues that debt has been far more than a financial instrument throughout human history. Rather, it has been an instrument for influencing politics, gender roles, religion, and much more.

  • The Ascent of Money by Niall Ferguson

    • This books also takes an anthropological view of money and documents how various historical events led to the rise of our current financial system.

Finance and Investing Blogs, Newsletters and Forums

“Knowledge is wealth, wisdom is treasure, understanding is riches, and ignorance is poverty.”

-Matshona Dhliwayo

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“Knowledge is wealth, wisdom is treasure, understanding is riches, and ignorance is poverty.”

-Matshona Dhliwayo

Receive our market insights. Gain knowledge.

“Knowledge is wealth, wisdom is treasure, understanding is riches, and ignorance is poverty.”

-Matshona Dhliwayo

Receive our market insights. Gain knowledge.

Track Record Disclosures

For more details, see our ADV Part 2A.

Communications from Towards Equilibrium Inc. (Equi) and Equilibrium Ventures, LLC (EquiV) (collectively, “Equilibrium Ventures”) are intended solely for informational purposes, and should not be construed as investment or trading advice and are not meant to be a solicitation or recommendation to buy, sell, or hold any securities mentioned. Any such offer or solicitation can only be made by means of the delivery of a Confidential Private Placement Memorandum, which contains a description of the significant risks involved in such an investment. All figures are estimated and unaudited unless otherwise noted. Past performance is not necessarily indicative of future results. Equi is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any state securities regulatory authority.

EquiV is registered as an investment adviser with the Texas Securities Board. Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the entity. The opinions and predictions expressed on this website represent the current, good faith views of Equilibrium Ventures at the time of publication, are provided for limited purposes, and are not definitive investment advice. Predictions, opinions, and other information on this website are subject to change continually and without notice of any kind and may no longer be valid after the date indicated. By using this website, you accept our Terms of Use, Privacy Policy, and Privacy Notice. Equilibrium Ventures, LLC is carrying on the business of, or registered and authorized to, provide investment advice only in the jurisdictions where they are lawfully authorized. Equilibrium Ventures is neither a law firm nor an accounting firm, and no portion of the website should be interpreted as legal, accounting, or tax advice.

Past performance is not indicative of future results. Diversification does not ensure a profit or guarantee against loss. No material available through the website shall be used or considered as an offer to sell or a solicitation of any offer to buy the securities or services of any of our affiliated entities. Offers can only be made where lawful under, and in compliance with, applicable law. Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by EquiV), will be profitable or equal to any historical performance levels. Investments discussed on the website, if any, may not be suitable for all investors. Investors should make their own investment decisions based on their own financial objectives and financial resources and should obtain independent investment and tax advice before deciding to invest. Graphs, charts, tools, and graphics are used for illustrative purposes only, and may not reflect actual future performance. The contents on this website are provided for limited purposes, and should not be considered definitive investment advice. Equilibrium Ventures does not guarantee any minimum level of investment performance or the success of any investment strategy. As with any investment, there is a potential for profit as well as the possibility of loss. Any links provided to other websites are offered as a matter of convenience and are not intended to imply that EquiV or its authors endorse, sponsor, promote, and/or are affiliated with the owners of or participants in those sites unless stated otherwise. Please see our Terms of Use governing the use of this website.

S&P 500 performance obtained from Bloomberg. References to S&P 500 are included for illustrative purposes only. It is not expected that the Equi funds (Equi Balanced Fund, LP or Equi Growth Fund, LP) will make investments in S&P 500 companies. Accordingly, investors should not expect that an investment in the Equi Funds would provide exposure that is similar to an index investment in S&P 500 companies or any other specific benchmark.

Track Record Disclosures

For more details, see our ADV Part 2A.

Communications from Towards Equilibrium Inc. (Equi) and Equilibrium Ventures, LLC (EquiV) (collectively, “Equilibrium Ventures”) are intended solely for informational purposes, and should not be construed as investment or trading advice and are not meant to be a solicitation or recommendation to buy, sell, or hold any securities mentioned. Any such offer or solicitation can only be made by means of the delivery of a Confidential Private Placement Memorandum, which contains a description of the significant risks involved in such an investment. All figures are estimated and unaudited unless otherwise noted. Past performance is not necessarily indicative of future results. Equi is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any state securities regulatory authority.

EquiV is registered as an investment adviser with the Texas Securities Board. Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the entity. The opinions and predictions expressed on this website represent the current, good faith views of Equilibrium Ventures at the time of publication, are provided for limited purposes, and are not definitive investment advice. Predictions, opinions, and other information on this website are subject to change continually and without notice of any kind and may no longer be valid after the date indicated. By using this website, you accept our Terms of Use, Privacy Policy, and Privacy Notice. Equilibrium Ventures, LLC is carrying on the business of, or registered and authorized to, provide investment advice only in the jurisdictions where they are lawfully authorized. Equilibrium Ventures is neither a law firm nor an accounting firm, and no portion of the website should be interpreted as legal, accounting, or tax advice.

Past performance is not indicative of future results. Diversification does not ensure a profit or guarantee against loss. No material available through the website shall be used or considered as an offer to sell or a solicitation of any offer to buy the securities or services of any of our affiliated entities. Offers can only be made where lawful under, and in compliance with, applicable law. Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by EquiV), will be profitable or equal to any historical performance levels. Investments discussed on the website, if any, may not be suitable for all investors. Investors should make their own investment decisions based on their own financial objectives and financial resources and should obtain independent investment and tax advice before deciding to invest. Graphs, charts, tools, and graphics are used for illustrative purposes only, and may not reflect actual future performance. The contents on this website are provided for limited purposes, and should not be considered definitive investment advice. Equilibrium Ventures does not guarantee any minimum level of investment performance or the success of any investment strategy. As with any investment, there is a potential for profit as well as the possibility of loss. Any links provided to other websites are offered as a matter of convenience and are not intended to imply that EquiV or its authors endorse, sponsor, promote, and/or are affiliated with the owners of or participants in those sites unless stated otherwise. Please see our Terms of Use governing the use of this website.

S&P 500 performance obtained from Bloomberg. References to S&P 500 are included for illustrative purposes only. It is not expected that the Equi funds (Equi Balanced Fund, LP or Equi Growth Fund, LP) will make investments in S&P 500 companies. Accordingly, investors should not expect that an investment in the Equi Funds would provide exposure that is similar to an index investment in S&P 500 companies or any other specific benchmark.

Track Record Disclosures

For more details, see our ADV Part 2A.

Communications from Towards Equilibrium Inc. (Equi) and Equilibrium Ventures, LLC (EquiV) (collectively, “Equilibrium Ventures”) are intended solely for informational purposes, and should not be construed as investment or trading advice and are not meant to be a solicitation or recommendation to buy, sell, or hold any securities mentioned. Any such offer or solicitation can only be made by means of the delivery of a Confidential Private Placement Memorandum, which contains a description of the significant risks involved in such an investment. All figures are estimated and unaudited unless otherwise noted. Past performance is not necessarily indicative of future results. Equi is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any state securities regulatory authority.

EquiV is registered as an investment adviser with the Texas Securities Board. Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the entity. The opinions and predictions expressed on this website represent the current, good faith views of Equilibrium Ventures at the time of publication, are provided for limited purposes, and are not definitive investment advice. Predictions, opinions, and other information on this website are subject to change continually and without notice of any kind and may no longer be valid after the date indicated. By using this website, you accept our Terms of Use, Privacy Policy, and Privacy Notice. Equilibrium Ventures, LLC is carrying on the business of, or registered and authorized to, provide investment advice only in the jurisdictions where they are lawfully authorized. Equilibrium Ventures is neither a law firm nor an accounting firm, and no portion of the website should be interpreted as legal, accounting, or tax advice.

Past performance is not indicative of future results. Diversification does not ensure a profit or guarantee against loss. No material available through the website shall be used or considered as an offer to sell or a solicitation of any offer to buy the securities or services of any of our affiliated entities. Offers can only be made where lawful under, and in compliance with, applicable law. Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by EquiV), will be profitable or equal to any historical performance levels. Investments discussed on the website, if any, may not be suitable for all investors. Investors should make their own investment decisions based on their own financial objectives and financial resources and should obtain independent investment and tax advice before deciding to invest. Graphs, charts, tools, and graphics are used for illustrative purposes only, and may not reflect actual future performance. The contents on this website are provided for limited purposes, and should not be considered definitive investment advice. Equilibrium Ventures does not guarantee any minimum level of investment performance or the success of any investment strategy. As with any investment, there is a potential for profit as well as the possibility of loss. Any links provided to other websites are offered as a matter of convenience and are not intended to imply that EquiV or its authors endorse, sponsor, promote, and/or are affiliated with the owners of or participants in those sites unless stated otherwise. Please see our Terms of Use governing the use of this website.

S&P 500 performance obtained from Bloomberg. References to S&P 500 are included for illustrative purposes only. It is not expected that the Equi funds (Equi Balanced Fund, LP or Equi Growth Fund, LP) will make investments in S&P 500 companies. Accordingly, investors should not expect that an investment in the Equi Funds would provide exposure that is similar to an index investment in S&P 500 companies or any other specific benchmark.