Book reviews: Virtually free

What Has Worked in Investing (free): This recently updated book from the investment firm Tweedy, Browne examines ways to pick undervalued stocks and looks at how effective those methods have been over the years. It’s neither a sales brochure nor a get-rich-quick guide. Rather, it’s a factual look at the payoffs from buying stocks with certain characteristics.

Our take: An invaluable guide for anyone on the lookout for cheap stocks.

Building Wealth: A Beginner’s Guide to Securing Your Financial Future (free): If you’re looking for an outstanding introduction to the basics of personal finance, look no further. This book from the Federal Reserve Bank of Dallas shows you how to set up a budget, deal with debt, and construct an investment portfolio.

Our take: Great advice on how to build your personal wealth. While written for U.S. consumers, most of the tips apply equally well in Canada.

Sustainable Energy — Without the Hot Air by David MacKay (free): If you’re confused by all the conflicting claims about global warming and alternative energy sources, this book, by a Cambridge physicist, will, um, clear the air. MacKay sets out the numbers about everything from clean coal to hydrogen-powered cars.

Our take: A fascinating book that carefully evaluates a myriad of energy sources ranging from nuclear generators to windmills. It’s down to earth, conversational in tone, and filled with facts, not emotion. While British in focus, it offers insight for everyone.

The General Theory of Employment, Interest, and Money by J.M. Keynes (free): It would be an exaggeration to say that this book saved capitalism, but there’s no doubt that its publication, in 1936, pointed a way out of the Great Depression for Canada, the U.S. and Britain.

Our take: A difficult, frustrating, but wonderful book. If you’re not an economist, skip over the hard stuff and go to Chapter 12. Its meditation upon the psychology of markets sounds as if it were written for today.

The Conservative Nanny State by Dean Baker (free): This book will either delight you or infuriate you. Dean Baker, the author, is a left-leaning economist who believes the wealthy are adept at using government to enrich themselves. His book explains how.

Our take: Even if you conclude that Baker is a no-good commie, his book is guaranteed to make you think. And before you dismiss Baker, ponder this: he’s one of the very few economists we know to have predicted both the dot-com crash and the U.S. housing disaster.