Books Recommendations on Investing by School of Intrinsic Compounding (SOIC) - Expert

SOIC (School of Intrinsic Compounding) is a leading Indian education platform founded by Ishmohit Arora and a team of dedicated analysts. Their mission is to empower retail investors through in-depth investing education, financial research, and practical resources, with a special focus on fundamental analysis and value investing.

I have been a subscriber to their channel for the last 3 years. SOIC frequently shares top book recommendations to build a strong foundation in investing and personal growth. Part 1 and Part 2 of Books Recommendations on Investing by School of Intrinsic Compounding (SOIC) is already published on the blog. Here is the list of SOIC-recommended books for technical investors:

Category 1: Fundamentals

1. Interpretation of Financial Statements by Mary Buffett and David Clark - A comprehensive guide to interpreting corporate financials.
2. Understanding Michael Porter by Joan Magretta - Insights into Michael Porter's business strategies.
3. The Five Rules for Successful Stock Investing by Pat Dorsey - Key rules for successful stock market investing.
4. Competition Demystified by Bruce C. Greenwald and Judd Kahn- Simplifies competitive strategy for investors.
5. One Up On Wall Street by Peter Lynch - Investment advice from a legendary fund manager.
6. Value Investing and Behavioral Finance by Parag Parikh - Combining value investing with behavioral finance.

Category 2: Technical Analysis

1. How to Make Money in Stocks by William O'Neil - Techniques to profit in stock markets.
2. Secrets for Profiting in Bull and Bear Markets by Stan Weinstein - Strategies for navigating bullish and bearish markets.
3. Trade Like a Stock Market Wizard by Mark Minervini - Advanced trading methods from a top market trader.
4. Technical Analysis Explained by Martin J. Pring - An introduction to technical analysis concepts.

Category 3: Philosophy of Investing

1. Masterclass with Super Investors by Vishal Mittal and Saurabh Basrar - Investment lessons from successful super investors.
2. Market Wizards by Jack D. Schwager - Wisdom from renowned market wizards.
3. The Little Book of Behavioral Investing by James Montier - Behavioral investing principles in a compact guide.
4. The Little Book That Builds Wealth by Pat Dorsey - Building wealth with behavioral investing strategies.
5. Richer, Wiser and Happier by William Green - Lessons on becoming wealthier and wiser.
6. The Lucky Formula: How to Stack the Odds in Your Favor and Cash In on Success: Mark LaChance and Kary Oberbrunner- How to improve investment odds effectively.

4: Understanding Market Cycles

1. Bulls, Bears and Other Beasts by Santosh Nair - Explores the dynamics of market cycles and beasts.
2. Bull by Maggie Mahar - Analysis of bullish market trends by Maggie Mahar.
3. Capital Returns by Marathon Asset Management - Study of returns on invested capital.

Part 5: Mental Models

1. Parables of Perception by Max Gunther - Stories to enhance perception and decision-making.
2. The Art of Thinking Clearly by Rolf Dobelli - A guide to clear and critical thinking.
3. The Great Mental Models by Farnam Street series - Compilation of important mental models for investors.
4. Zurich Axioms by Max Gunther - Principles for risk-taking in investment.
5. Trading in the Zone by Mark Douglas- Focus on trading psychology and discipline.

Books Recommendations on Investing by School of Intrinsic Compounding (SOIC) - Intermediate

SOIC (School of Intrinsic Compounding) is a leading Indian education platform founded by Ishmohit Arora and a team of dedicated analysts. Their mission is to empower retail investors through in-depth investing education, financial research, and practical resources, with a special focus on fundamental analysis and value investing. 

I have been a subscriber to their channel for the last 3 years. Part 1 of Books Recommendations on Investing by School of Intrinsic Compounding (SOIC) is already published on the blog. SOIC frequently shares top book recommendations to build a strong foundation in investing and personal growth. 

Here is the list of SOIC-recommended books for experienced investors:

Decision Making and Behavioral Finance

1. Thinking in Bets – Annie Duke – Decision making under uncertainty using betting frameworks.
2. Seeking Wisdom: From Darwin To Munger – Peter Bevelin – Behavioral and evolutionary insights into investing.
3. Poor Charlie's Almanack – Edited by Peter D. Kaufman – Wisdom and mental models from Charlie Munger.
4. Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger – Janet Lowe – Investment journey insights from Charlie Munger.
5. The Most Important Thing – Howard Marks – Investment philosophy emphasizing risk and psychology.

Value Investing and Stock Selection

1. The Tao of Warren Buffett – Mary Buffett and David Clark – Buffett's philosophies and value investing principles.
2. The Warren Buffett Way – Robert Hagstrom – Buffett's investment strategies and principles.
3. 100 Baggers – Christopher Mayer – Identifying stocks with massive long-term growth potential.
4. Margin of Safety – Seth Klarman – Investing with safety buffers to minimize risk.
5. Beating the Street – Peter Lynch – Tactics for stock picking and beating the market.

Financial Analysis and Accounting

1. Financial Shenanigans – Howard Schilit – Detecting accounting fraud and irregularities.
2. Romancing The Balance Sheet – Anil Lamba – Understanding financial statements with fresh perspectives.
3. Best Practices for Equity Research Analysts – James J. Valentine – Conducting high-quality research.
4. Bad Money: Inside the NPA Mess and How it Threatens the Indian Banking System – Vivek Kaul  – Overview of banking sector risks in India.

Growth and Compounding

1. The Joys of Compounding – Gautam Baid – The exponential growth power of compounding.
2. You Can Compound – Vivek Mashrani – Practical strategies for compounding money.
3. Investing for Growth – Terry Smith – Strategies focused on growth stocks and capital appreciation.
4. Of Long Term Value And Wealth Creation – Bharat Shah – Principles for sustainable wealth generation.

Investment Theory and Market Principles

1. What I Learnt About Investing From Darwin – Pulak Prasad – Evolutionary principles applied to investing.
2. A Random Walk Down Wall Street – Burton Malkiel – Stock market investing basics and efficient market hypothesis.
3. The Little Book of Valuation – Aswath Damodaran – Simplified valuation methods for investments.

Books Recommendations on Investing by School of Intrinsic Compounding (SOIC) - Basic

SOIC (School of Intrinsic Compounding) is a leading Indian education platform founded by Ishmohit Arora and a team of dedicated analysts. Their mission is to empower retail investors through in-depth investing education, financial research, and practical resources, with a special focus on fundamental analysis and value investing.

I have been a subscriber to their channel for the last 3 years. SOIC frequently shares top book recommendations to build a strong foundation in investing and personal growth. Here are some books endorsed and discussed by the SOIC team:

Behavioral Finance and Psychology

1. Influence: The Psychology of Persuasion by Robert Cialdini – Explore the psychology behind influence and persuasion.
2. The Power of Habit by Charles Duhigg – Understanding habit formation and change.
3. Atomic Habits — James Clear – Building effective habits for success.
4. The Biggest Bluff by Maria Konnikova – Exploration of probability and psychology in poker and life.
5. The Psychology of Money by Morgan Housel – Behavioral influences on financial decisions and money mindset
6. Thinking, Fast and Slow by Daniel Kahneman – How intuitive and deliberate thinking shape decisions.

Creativity, Productivity, and Growth

1. Alchemy: The Surprising Power of Ideas That Don't Make Sense by Rory Sutherland – Creative thinking and the unexpected power of ideas.
2. Deep Work by Cal Newport -  Techniques to enhance focus and productivity.
3. 10x is Easier than 2X by Dan Sullivan  – Strategies for exponential growth in business and life.
4. Principles by Ray Dalio – Key principles for economic success and personal growth.
5. The Almanack of Naval Ravikant by Eric Jorgenson – Wisdom and advice from entrepreneur Naval Ravikant.

Economic, Historical, and Scientific Perspectives

1. Factfulness by Hans Rosling – A data-driven view on global development and health.
2. The Signal and the Noise by Nate Silver – Making sense of complex data and predictions.
3. How Asia Works: Success and Failure in the World's Most Dynamic Region by Joe Studwell – Economic insights into Asia's development model.
4. Material World: The Six Raw Materials That Shape Modern Civilization by [Author] – The critical role of raw materials in the modern world.
5. Sapiens: A Brief History of Humankind by Yuval Noah Harari – Human history is shaped by revolutions in cognition and society

Philosophy and Mindset

1. Man's Search for Meaning by Viktor Frankl – Reflections on finding meaning in life.
2. Meditations by Marcus Aurelius – Stoic wisdom on resilience, discipline, and personal leadership growth

The Takshashila Institution’s Booklist You Can’t Afford to Miss!

The Takshashila Institution is an independent, non-partisan, and non-profit centre specialized in research and education in public policy, based in Bangalore, India. The institution stands out because it bridges expert knowledge and influential networks, producing independent policy research and fostering rich public discourse to strengthen India’s intellectual engagement.

Why do their book recommendations matter? Simply put, following Takshashila Institution’s book recommendations is important because they are curated by leading scholars and policy practitioners deeply engaged in India’s socio-economic and strategic challenges. 

Books authored by the Takshashila Institution faculty 

1. Missing In Action: Why You Should Care About Public Policy — Pranay Kotasthane & Raghu S. Jaitley (2023)
2. When the Chips Are Down: A Deep Dive into a Global Crisis — Pranay Kotasthane & Abhiram Manchi (2023)
3. We, The Citizens: Strengthening the Indian Republic — Khyati Pathak, Anupam Manur, Pranay Kotasthane (2024)
4. A Visible Hand: Essays on the Intersection of Economics, Politics, and Society — Anupam Manu

Book recommendations by the Takshashila Institution faculty

1. From Jugaad to Systematic Innovation: The Challenge for India  —  Rishikesha Krishnan
2. The Strategy Trap: India And Pakistan Under the Nuclear Shadow — Lt. Gen. Prakash Menon
3. If Then: How One Data Company Invented the Future — Jill Lepore
4. Demagogue: The Fight to Save Democracy from Its Worst Enemies — Michael Signer 
5. The Republic of Beliefs: A Radical Approach to Economics — Kaushik Basu
6. Mortal Republic: How Rome Fell into Tyranny — Edward J. Watts
7. The War That Ended Peace — Margaret MacMillan
8. Ideas: A History of Thought and Invention, from Fire to Freud — Peter Watson
9. Maxwell’s Demon: Why Warmth Disperses and Time Passes — Harvey S. Leff & Andrew F. Rex
10. They Made What? They Found What? by Shweta Taneja
11. Space. Life. Matter.: The Coming of Age of Indian Space Research — Various Authors 

Additional  Resource: Discussion Documents & Working Papers

• The Geopolitics of Indian Talent — Satya Sahu, Vanshika Saraf, Adya Madhavan, Rijesh Panicker & Arindam Goswami (2025)
• Recent Trends and Future Trajectories in Geo-Economics — Anisree Suresh, Arindam Goswami, and Rakshith Shetty (2025)
• The Techno-Economic Impact of the Israel-Hamas War — Aditya Ramanathan, Pranay Kotasthane, Sarthak Pradhan, and Satya Sahu (2024)
• A Framework for Governing Emerging Technologies — Bharath Reddy and Shambhavi Naik (2025)

13 Game-Changing Personal Growth Books to Transform Your Life from The Seen and Unseen Podcast

"The Seen and the Unseen" is India's premier long-form podcast hosted by Amit Varma. The podcast, which has been running since 2017, features long-form conversations with intellectuals, writers, economists, historians, and thought leaders from India and around the world.

Amit Varma is a respected journalist and writer, a two-time winner of the Bastiat Prize for Journalism. The show is renowned for its rich intellectual content and the diversity of its guests, making it a valuable resource for anyone interested in public policy, history, culture, or economics in contemporary India. I am only sharing the books recommended related to Psychology  and personal growth: 

1. Four Thousand Weeks — Oliver Burkeman
2. Wanting — Luke Burgis
3. Start With Why — Simon Sinek
4. The Hard Thing About Hard Things — Ben Horowitz
5. Zero to One — Peter Thiel
6. Atomic Habits — James Clear
7. How to Know a Person — David Brooks
8. The Anxious Generation — Jonathan Haidt
9. Good to Great — Jim Collins
10. The Lean Startup — Eric Ries
11. The Goal — Eliyahu Goldratt
12. The Nurture Assumption — Judith Rich Harris
13. Waking Up: A New Operating System for Your Mind — Sam Harris

For readers seeking to dive deeper into the themes discussed on the podcast, the book recommendations serve as a comprehensive guide to engaging with the complex ideas Amit Varma and his guests explore.

Books that Shape Ideas: Economics and Public Policy on The Seen and the Unseen Podcast

"The Seen and the Unseen" is India's premier long-form podcast hosted by Amit Varma. The podcast, which has been running since 2017, features long-form conversations with intellectuals, writers, economists, historians, and thought leaders from India and around the world. The podcast is highly recommended to the readers for deep dive into diverse topics with subject matter experts.

The Host, Amit Varma is a respected journalist and writer, a two-time winner of the Bastiat Prize for Journalism. The show is renowned for its rich intellectual content and the diversity of its guests, making it a valuable resource for anyone interested in public policy, history, culture, or economics in contemporary India. I am only sharing the books recommended related to economics & public policy: 

Books by Indian authors

1. In Service of the Republic — Vijay Kelkar & Ajay Shah
2. India’s Big Government: The Intrusive State & How It’s Hurting Us — Vivek Kaul
3. Samaaj, Sarkaar, Bazaar: A Citizen-First Approach — Rohini Nilekani
4. The Lost Decade (2008-18): How India’s Growth Story Devolved into Growth Without a Story — Puja Mehra
5. The Third Pillar: How Markets and the State Leave the Community — Raghuram Rajan
6. Easy Money series (3 volumes) — Vivek Kaul
7. Between the Buyer and the Seller — Karthik Shashidhar

These books should be a must read for all the youngsters keen to learn on public policy and all the UPSC aspirants who have to delve into Indian nation building.

Books by International Authors

1. Chip War: The Fight for the World’s Most Critical Technology — Chris Miller
2. Where India Goes: Abandoned Toilets, Stunted Development and the Costs of Caste — Diane Coffey
3. Austrian Economics: An Introduction — Steven Horwitz
4. Friedrich Hayek: The Ideas and Influence of the Libertarian Economist — Eamonn Butler
5. The Mystery of Capital — Hernando De Sotov
6. Where Are the Customers’ Yachts? — Fred Schwed Jr.

Classics

1. Free to Choose — Milton Friedman & Rose Friedman
2. A Theory of Justice — John Rawls
3. Capitalism and Freedom — Milton Friedman
4. Individualism and Economic Order — Friedrich Hayek
5. The Road to Serfdom — Friedrich Hayek
6. Economics in One Lesson — Henry Hazlitt
7. The General Theory of Employment, Interest and Money — John Maynard Keynes
8. Public Opinion — Walter Lippmann
9. Lombard Street: A Description of the Money Market — Walter Bagehot
10. The Wealth of Nations — Adam Smith
11. The Theory of Moral Sentiments — Adam Smith

For readers seeking to dive deeper into the themes discussed on the podcast, the book recommendations serve as a comprehensive guide to engaging with the complex ideas Amit Varma and his guests explore.

Book Recommendations by Nikhil Kamath - WTF Podcast

WTF is a podcast series where entrepreneur and Investor Nikhil Kamath hosts friends and industry experts and holds casual yet intellectually stimulating conversations. WTF Podcast is a must-listen for aspiring entrepreneurs, startup founders, stock market investors, early-career professionals, business students, and young professionals eager to understand wealth creation, financial markets, and unconventional thinking. 

Nikhil Kamath’s book recommendations focus on cultivating a mindset of continuous learning, financial literacy, and strategic thinking. Based on my research of Nikhil Kamath's WTF podcast series, here's a comprehensive collection of book recommendations that have emerged from his conversations and personal recommendations:

1. Freedom from the Known by Jiddu Krishnamurti – Breaking mental conditioning and achieving true freedom
2. The Psychology of Money by Morgan Housel – Behavioral influences on financial decisions and money mindset
3. The Denial of Death by Ernest Becker – Fear of mortality driving human behavior and accomplishments
4. When Genius Failed by Roger Lowenstein – Collapse of a hedge fund, lessons on overconfidence and failures
5. The Compound Effect by Darren Hardy – Small, consistent actions leading to significant long-term success
6. A History of Western Philosophy by Bertrand Russell – Comprehensive overview of Western philosophical schools and thought
7. Atomic Habits by James Clear – Systematic approach for building good habits and breaking bad ones
8. Meditations by Marcus Aurelius – Stoic wisdom on resilience, discipline, and personal leadership growth
9. Caste by Isabel Wilkerson – Examination of caste systems and social hierarchies globally
10. Sapiens: A Brief History of Humankind by Yuval Noah Harari – Human history is shaped by revolutions in cognition and society
11. Source Code by Bill Gates – Insights on technology innovation, philanthropy, and global challenges

Think School’s Book Recommendations

Think School is an outstanding podcast and YouTube channel for anyone passionate about business, strategy, and management for current MBA students, MAT & CAT aspirants, and professionals in the making. Learners get actionable frameworks on business models, startup journeys,  culture building, product-market fit, and competitive strategy directly from those who have built and scaled companies.

The Think School Podcast simplifies complex topics in business, geopolitics, and leadership through engaging storytelling and real-world case studies. Think School recommends the following books that focus on leadership, business mindset, and productivity for personal and professional growth:

Leadership and Purpose

1. Start with Why by Simon Sinek on Leadership rooted in purpose
2. Lean In by Sheryl Sandberg on the challenges women face in leadership
3. The Almanack of Naval Ravikant by Eric Jorgenson on Wealth and Wisdom
4. Culture Code by Daniel Coyle on Unlocking high-performing teams
5. This Is Marketing by Seth Godin on Purposeful marketing philosophy
6. Jab Jab Jab Right Hook by Gary Vaynerchuk on Social Media Storytelling

Negotiation and Influence

1. Never Split the Difference by Chris Voss on Negotiation Mastery
2. Pre-suasion by Robert Cialdini on the Art of influence and persuasion

Business and Entrepreneurship

1. Shoe Dog by Phil Knight is the Memoir of Nike’s founding journey

Personal Growth and Habit Building

1. Deep Work by Cal Newport on Focused productivity
2. Atomic Habits by James Clear on Systematic habit building
3. Hooked by Nir Eyal on Building habit-forming products
4. The Psychology of Money by Morgan Housel on the psychological foundation for financial success
5. Factfulness by Hans Rosling — A fact-based worldview to understand global progress.
6. Black Sheep by Brant Menswar — Empowering stories about finding your unique voice.
7. Can't Hurt Me by David Goggins — Overcoming limits through mental toughness and resilience.
8. Meditations by Marcus Aurelius — Stoic wisdom for modern life grounded in mindfulness.
9. Essentialism by Greg McKeown — The disciplined pursuit of less for a meaningful life.

Must Watch Video

“How to Read Effectively Like a CEO?” by Think School (on YouTube) is a must-watch, where they recommend that the goal isn’t speed reading — it’s reading with intent. CEOs read to extract ideas, not just finish pages.

Thoughtful Present -2!

I was gifted a copy of The Intelligent Investor by Benjamin Graham from boss today. The Intelligent Investor was first published in 1949, and is a widely acclaimed book on value investing.

The share market is in doldrums and people are exploring for the stocks and sectors that are likely to lead the next bull run. I have neither clue to lap up falling stocks nor money to check unproven models only on hope. Hence, this book is a prudent gift in the next level of personal development. I will be investing next few months in reading of 'The Intelligent Investor' accrued with Safal Niveshak blog, discussing share market with colleagues and  looking for stock tips. I hope this will give me insights on value proposition and investments. Thanks Manab for such a timely gift.

Thoughtful Present!

Development solutions are inherently difficult, every individual in this field experiences failure at some points. Even when it comes to mundane work, everyone needs advice. Whether one isn't sure how to tackle an assignment or want to talk through an interesting job offer, there’s nothing better than having a few mentors to help you out along the way. As an individual gaining new skills by working with a mentor, one can take on more ambitious projects; As one recognize new problems to address, one can work with the mentor to develop additional expertise.

Being mentored helps in the career from 'sleepwalking into slow terminal decline'. And, on the job mentoring is much more effective than formal training programs. Mentor-ship is given when someone with expertise and experience takes an aspiring individual under their wing, to share their knowledge and advice, and to provide support and guidance in career development.

It's hard to praise boss and credit him/her as a mentor. Yet, here I am doing so. I am currently working with Mr. Swaminathan S who is quite democratic and empowers everyone around him. He is prepared to stick around for a good, long conversation about the career road up, out, and forward. Being mentored has helped me to break down the barriers between the theoretical knowledge and practical realities in development, as well as provide a much needed support network in early phase of my career.

As they say gifts come without warning when we least expect them. Got a copy of Rain Making: Attract New Clients No Matter What Your Field by Ford Harding from mentor near closing of the financial year. In Dante’s Inferno, at the bottom-most circle of hell, the ungrateful are punished by being eternally frozen in the postures of deference they had failed to perform during their lifetimes: trapped rigid in enveloping ice, they stand erect or upside down, lie prone, or bow face to feet.”

I rarely acknowledge thoughtfulness, and generosity of the power-holders. Yet, I do this time.

Suggested Reading for Rural Manager

The philosophy of the former Nation editor Victor Navasky, “to question the conventional wisdom, to be suspicious of all orthodoxies, to provide a home for dissent and dissenters, and to be corny about it, to hold forth a vision of a better world,” still holds true for these times now.

We are all living in an era where rising comforts and a growing economy have conditioned many individuals with good education to shirk all political responsibilities and even a basic understanding of political matters. There is a rapid increase in the mindless content of entertainment, news, films, and books; hence, we have to seek knowledge in a very mature and intelligent manner. In the era of instant judgment, careful analysis and patience are required. By looking through the complexity enough, one needs to find the real cause of the sufferings of many.

Curiosity is the most powerful thing you own. There is a pleasure in finding things out. The starting point of any education is giving us an understanding of ourselves, our culture, and our world. Our knowledge must adapt to changing times, not get buried under traditional walls of classroom teaching. I don't read journals (not even EPW) myself, as even using Google smartly requires scholarly work. But there is always an effort and guidance required for personal growth.

I am naming a few books related to the field of rural management and development. You can add your own preferences, but reading books is a personal choice. There is a very thin line between creative suggestion and interference. One is always free to search and share his/her own knowledge. I will quote Aldous Huxley, who put it more elegantly - “Facts do not cease to exist because they are ignored.”

Good Books on Management

1. Connect the dots by Rashmi Bansal
2. Rich Dad Poor Dad by Robert Kiyosaki
3. The Essential Drucker by Peter Drucker
4. Who Moved My Cheese? by Spencer Johnson
5. Thinking, Fast and Slow by Daniel Kahneman
6. Simply Fly – A Deccan Odyssey by Captain Gopinath
7. Steve Jobs: The Exclusive Biography by Walter Isaacson
8. How to Win Friends and Influence People by Dale Carnegie
9. Made In Japan: Akio Morita & Sony Reissue by Akio Morita
10. Positioning: The Battle for Your Mind by Al Ries, Jack Trout
11. The Seven Habits of Highly Effective People by Stephen R. Covey
12. What Money Can't Buy: The Moral Limits of Markets by Michael J. Sandel
13. We Are Like That Only: Understanding the Logic of Consumer India by Rama Bijapurkar
14. Good to Great: Why Some Companies Make the Leap ... and Others Don't by Jim Collins
15. Beyond the MBA Hype: A Guide to Understanding and Surviving B-Schools by Sameer Kamat
16. The Ascent Of Money: A Financial History Of The World by Niall Ferguson

Good Books on the Development Sector

1. I Have a Dream by Rashmi Bansal
2. Deschooling Society by Ivan Illich
3. I Too Had a Dream by Verghese Kurien
4. Small is Beautiful by E.F. Schumacher
5. Development as Freedom by Amartya Sen
6. Pedagogy of the Oppressed by Paulo Freire
7. Everybody loves a Good Drought by P Sainath
8. The Unsettling of America: Culture and Agriculture by Wendell Berry
9. We Are Poor but so Many: The Story of Self-employed Women in India by Ela R Bhatt
10. Hello Bastar: The Untold Story Of India's Maoist Movement by Rahul Pandita
11. Banker To The Poor: Micro-Lending and the Battle Against World Poverty by Muhammad Yunus
12. A Fistful of Rice: My Unexpected Quest to End Poverty Through Profitability by Vikram Akula
13. The Fortune at the Bottom of the Pyramid by CK Prahalad
14. Poor Economics by Abhijit V. Banerjee, Esther Duflo
15. Creating a World Without Poverty by Muhammad Yunus

How much a person can read can never substitute for the experience of life. Talking with the people who are living with, not against, nature is the biggest guide for a rural manager. Their wisdom and prejudices have been passed through a generation of experiences. Observe them !!!