Jackass Investing and Millionaire Fastlane are good layman books. Expected Returns is a more advanced but accessible one. Also the Missing Risk Premium is good

Jackass Investing and Millionaire Fastlane are good layman books. Expected Returns is a more advanced but accessible one. Also the Missing Risk Premium is good food for thought since if its thesis is correct nearly everything you read about risk management in typical indexing investing literature is bogus and the opposite of true. Tl;dr is two much more sane approaches to investing are return driver focused or income generation focused capital allocation instead of asset appreciation and compounding based upon speculative indexing. These btw are what rich people do with their money (hedge funds, managed futures, income generating investments) not park it in index funds and hope the underlyings appreciate due to asset prices going up. Rich people pay 2/20 management fees because the fees pay for true diversification. Diversification is real but requires diversifying return drivers not asset classes. (Asset price changes are just one return driver.) If you are just sitting in asset backed index funds there are a variety of tail events (non-apocalyptic ones) where their action correlation goes to one and you’re perma-in the red until you die.