Barefoot Investor recommended this book. It is written by John Bogle who founded Vanguard Mutual Fund Group. If you don't know, Vanguard is the largest provider of mutual funds and the second-largest provider of exchange-traded funds in the world.
I found the book very dry to read, however, it has plenty of research data. The book requires a good understanding of different investment schemes to fully appreciate it. Unfortunately I could only grasp the core message: invest in index funds. They provide the best diversification and with lowest fees it's almost impossible to beat them.
That's only applicable to long term investments though. By following the mentioned advice, it should put you above the majority with minimum cost and effort. I agree with Barefoot Investor, this book is a must read for all stocks investors.
Few quotes:
In the short run the stock market is a voting machine . . . (but) in the long run it is a weighing machine.
-- Ben Graham
When there are multiple solutions to a problem, choose the simplest one.
-- Occam’s Razor
Common sense tells us that performance comes and goes, but costs go on forever.
"The greatest enemy of a good plan is the dream of a perfect plan.” Stick to the good plan.
The two greatest enemies of the equity fund investor are expenses and emotions.