Hey Guys,
I was wondering if anyone could recommend some books that are enjoyable reads. I'm not talking about books that will teach me about short selling and things like that. I want suggestions for books that have to do with the culture of Wall Street and anything around that idea.
Also, What about books on the financial crisis?
I have heard that Too Big to Fail is really good.
Any others?
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All time favorite finance book: Reminiscence of a Stock Operator. It will not teach you how to short-sell, but very entertaining. It will amaze you how certain things on the street have not changed in over 100 years.
Read "The accidental Investment banker" by Jonathan Knee.
I am going to recommend a book that is different from what everyone else would even think of reading. In fact, I firmly believe this should be considered required reading for anyone that wants to work on Wall Street regardless of whether you are trying to break into IBD, S&T, Hedge Funds/Private Equity or Asset Management. I know this is going to be an old and out of date book, but I can't help heap praises for "Extraordinary Popular Delusions and the Madness of Crowds". It goes without saying that for a book written over 150 years ago, it still holds great relevance to everything today. It's not a shock at all that economists and journalists consider this to be a seminal piece in the discussion of financial crisis and, assuming you agree with Michael Lewis' train of thought, this is a seminal work of classic economics.
I would take note of the fact that it doesn't cover any modern topics, but the lessons learned can be applied to, and in fact have been compared to, any modern bubble we have seen over the last 100 years.
My favorite list of Wall Street books and movies
http://www.quantnet.com/goldman-sachs-reading-list/ http://www.quantnet.com/master-reading-list-for-quants/ http://www.quantnet.com/finance-wall-street-movies/
[quote=baraider]My favorite list of Wall Street books and movies
http://www.quantnet.com/goldman-sachs-reading-list/ http://www.quantnet.com/master-reading-list-for-quants/ http://www.quantnet.com/finance-wall-street-movies/[/quote]
I have all of those movies & tv shows except Nova -- Trillion Dollar Bet (2000). Anyone know where I can find that?
I really enjoyed One Up on Wall Street
The last book I read, "Six Sizzling Markets: How to Profit from Investing in Brazil, Russia, India, China, South Korea, and Mexico" was fantastic. It's a combination of cultural, historical, and relevant companies to invest in for the various countries.
here
if you want more wall street-culture books, then the accidental investment banker, liar's poker, barbarians at the gate, the big short, den of thieves- all good. and although they are fiction, and not really about investment banking or finance in general, american psycho and bonfire of the vanities are both great reads.
monkey business, when genius failed, predator's ball, too big to fail, the greatest trade ever, chasing goldman sachs, money culture, the new new thing, eboys (cali vc that backed ebay and webvan). A few of my favorites.
The Quants is good. It's a good eye-opener into the hedge fund industry
Go to the Amazon page of Michael Lewis.. Check out his books and then similar books that Amazon will show you.
Top 10 books any wall street pro must read (Originally Posted: 07/22/2012)
As stated in subject. What do you recommend?
Graham, Buffet, Klarman. I still haven't read any of their full books, but I know those are pretty important.
Investing for Dummies
The Game by Neil Strauss
Agreed. This is absolutely vital.
Bang Roosh V
Here are the business books on Jamie Dimon's recommnded reading list.
• The World is Flat by Thomas Friedman • Competitive Strategy: Techniques for Analyzing Industries and Competitors By Michael Porter
• Security Analysis: The Classic 1940 Edition By Benjamin Graham and David Dodd
• The Intelligent Investor By Benjamin Graham and David Dodd • Execution – The Discipline of Getting Things Done By Larry Bossidy and Ram Charan • Jack: Straight From the Gut By Jack Welch with John A. Byrne • Sam Walton – Made in America By Sam Walton with John Huey • Double Your Profits in 6 Months or Less By Bob Fifer • Built from Scratch By Bernie Marcus and Arthur Blank, Founders of The Home Depot, with Bob Andelman • Only the Paranoid Survive By Andrew S. Grove • Built to Last By James C. Collins and Jerry I. Porras
CFA material
we have Recommended Reading under the industry section in our FAQs...take a look
I had no idea there was a section for this. Great!
Ok, in all seriousness, if we're talking about public stocks. I'm a huge fan of Aswath Damadaron (any of his books). His material really trains your thought process on investing in stocks. Instead of telling you which investing rules to follow, he break down when it may be advantageous to use P/E and the shortcomings of the P/B under different market environments and company circumstances, vice versa. And uses empirical evidence to back up his points.
Or any of Warren Buffett's essays on corporate management is an interesting read.
Not that my opinion is worth anything but in my view The Intelligent Investor is a bit outdated, though Securities Analysis is not.
Do you know any good book for financial modeling in excel and vba?
What kind of modeling are you talking about? There are fundamental models and quantitative models, and dozens of sub-categories.
this is not a must read.. but just because i read them: a random walk down the wall street && a non-random walk down the wall street (They are two separate books) It's
thank
Margin Call, pretty sure its on Netflix
New Wall Street books (Originally Posted: 05/30/2009)
Anybody ready House of Cards by William D. Cohan or Kate Kelly's Street Fighters. They are the two main books on the Bear collapse, and I'm wondering which one is the better read.
House of Cards
Available some time next week.
Ditto, lived it.
"How I Caused The Credit Crunch" by Tetsuya Ishikawa
is "How I caused the Credit Crunch" worth a buy?
Don't get the House of Dimon, shit was ridiculously terrible. No real insights into his history or what makes him tick, and poorly written to boot.
Books for future Wall Streeter to read (Originally Posted: 12/06/2008)
Can anyone recommend some good books to read about Wall Street or financial services? I am particularly interested in Goldman Sachs and JPMorgan. Is The Partnership by Ellis (2008) a better book about Goldman than the Culture of Success by Endlich (2000)? Also on my list are Liar's Poker (by Michael Lewis), The House of Morgan (by Chernow)and anything by Veblen.
This is like to 500th questions that asks the same question! Use the search function.....
Here's a thread
http://www.wallstreetoasis.com/forums/reading-list
So what do you do? -I work for an investment banking firm. Oh okay; you are like my brother, he works for Edward Jones. -No, a college degree is required in my profession
If you want to learn about general financial services industry, I am reading Black Swan, Financial Shock, When Markets Collide, New Paradigm for Financial Markets(though this book is kinda vague. Personally dont recommend).... If you are interested in banking, Monkey Business(duh~), Accidental Investment Banker, Damn it feels good to be a banker, Culture of Success... I am personally interested in corporate restructuring, and Six Months and Corporate Turnover seems to be easy to read and interesting. If you are interested in distressed investments, I think Vulture Investors are the best. That book gives you the best history lessons for legendary investment bankers like Ken Moelis and infamous hedge fund managers like Karl Icahn. Amazon is a good source to find relevant great books in cheap prices.
The books in the lists above post are MUST-READ. But you should also check some newly published good books.
....couple of PUA books can also help you when your brain gets fried after the dry books.
Hope this helps!
Vault Guide
If you want to learn about the true foundation of our economy.
i believe that you should listen to music and watch movies instead of reading books in order to learn about financial services.
i suggest the following:
music: I get money - 50 cent I get money remix - 50 cent and everyone else Window Shopper - 50 cent
Movies: Get rich or die trying Boiler room I think I love my wife 25th hour American Psycho Barbarians at the Gate Wall Street Belly Fight Club The Castaway Forrest Gump - to help deal with the depression/rejection if you don't get into Wall Street
Any movie with charlie sheen - that guy always seems to be a stockbroker/salesman in some shape or form in his movies.
We're about to enter a Great Depression. Don't you want a president who's already dressed for it?
Vault Guide to Finance
and of course, hedge your bets with: Case in Point, 6th Edition
Great books, read all of these they go by quickly:
When Genius Failed Barbarians at the Gate Monkey Business Buffet by Lowenstein Liars Poker Preadators ball
Hot Chicks with Douchebags by Joshua Moss http://www.amazon.com/Hot-Chicks-Douchebags-Jay-Louis/dp/141695788X/ref…
I highly recommend.
Monkey Business Accidental Investment Banker
Those two will basically demonstrate exactly how the industry works.
Books on Financial Crisis (Originally Posted: 10/26/2011)
What books do you guys recommend on the current financial crisis?
I picked up "All the devils are here" few days ago. I haven't start reading it yet. If anyone has read this before, let me know if it's worth it.
Michael Lewis's "The Big Short" is pretty good. I also have "House of Cards" but have not started reading it yet because I'm sick of reading about the crisis already.
You should definitely read 'House of Cards', its a great book. William Cohan's writing makes it seem as if you're on the set of 'Margin Call', giving a minute-by-minute progression of events.
Other good books are 'Free fall' by Stiglitz and 'Crisis Economics' by Roubini - these books are much more theoretical because of the authors' background.
Too big to fail
My teacher has a great blog. I recommend watching his videos or going back a year and reading his blog entries. He is often repetitive, but very knowledgeable guy. (http://thespellmanreport.com/)
I recently read Michael Lewis' new book "Boomerang" which take a more global view of our economic systems. Main thesis is that the financial crisis in the US didn't happen in a vacuum, but was part of a much larger problem worldwide on a sovereign and societal level. He uses case studies to lay out his case: Iceland, Greece, Ireland, Germany's conundrum, and the US (both state and fed).
Freefall by J stiglitz is a gret about. I have read about 1/3 so far and it's looking good.
In Fed we Trust
I've read a pile of books on this, a few of which have been mentioned.
All The Devils Are Here was a good read. It jumps from topic to topic and covers a much wider scope of causes. Too Big To Fail was great. The movie sucked. That book was hard to put down. Michael Lewis is one of the best out there and The Big Short is 3-4 different stories of people that are very unique.
Other books worth mentioning....Street Fighters by Kate Kelly, an inside look into the last 72 hours of Bear Stearns. The End of Wall Street by Roger Lowenstein, same guy who wrote When Genius Failed: LTCM. And one of my favorites, Last Man Standing by Duff Mcdonald. It's about my boy, Jamie Dimon, and it looks at his leadership throughout 2008 and how he waded through the storm.
All hard books to put down. I have one more left on my list of unread books and it's Henry Paulson's account of the crises, called On The Brink. I would imagine it will be a good read.
Enjoy.
I've read 'On The Brink', it offers an excellent first-hand perspective towards the financial crisis rolling out in front of Paulson's eyes.
Not a book, but here is a presentation (Nov. 2008) from Alan Blinder (Prof at Princeton) off of Academic Earth, titled Origins Of The Financial Mess.
http://academicearth.org/lectures/origins-of-financial-mess
The Big Short is the most entertaining. Too Big to Fail has the most facts and wide range of banks.
House of Cards is by far the best written and truly Bear Sterns is the most interesting of the firms.
If you're actually serious, read the following:
--The Big Short --Griftopia --the Levin-Coburn Financial Crisis report (free online, most comprehensive report there is)
Too Big to Fail is a joke, should be retitled "The Passion of the Paulson."
Any good books that I could give my brother (senior in high school) to introduce him to banking/careers on wall street? (Originally Posted: 10/25/2010)
basic stuff.
Liar's Poker, Smartest Guys in the Room, Barbarians at the Gate, The Partnership: The Rise of Goldman Sachs, Market Wizards, More Money Than God. It's better to give him books that provide a background and are exciting before getting into the more technical bullshit.
When Genius Failed.
barbarians and Liars Poker... Monkey Business
Second Liar's Poker, but I'll also throw it "Bank" by David Bledin - hilarious take on what it's like to be an analyst.
my bro in law loved Monkey Business... Liars Poker was too much for him..also try the books ugly americans and rigged.. while not great they are quick reads and will get him interested
I liked The Big Short. Might be more interesting than Liars Poker since it's more recent. Haven't read that though.
Second. While Liar's Poker is basically the bible of the Street, The Big Short is extremely engaging and he'll learn a lot about the modern market. I'd start him with The Big Short.
The Mystery Method: How to Get Beautiful Women Into Bed How To Win Friends and Influence People The Game: Penetrating the Secret Society of Pickup Artists Monkey Business
If he reads these books and follows all the advices, he will be much closer to banking than after reading Liar's Poker, The Big Short, When Genius Failed, Barbarians at the Gate, Smartest Guys in the Room, The Partnership: The Rise of Goldman Sachs, Market Wizards, More Money Than God combined. I am dead serious. He is a senior. Teach him how to get laid and make friends.
The Quants
Liar's Poker When Genius Failed Barbarians at the Gate The Accidental Investment Banker
Liar's Poker is a great introduction to Wall Street. When Genius Failed is a little too technical for HS The Quants is as well Ugly Americans a a great read
FOOLED BY RANDOMNESS
Damn It Feels Good to be Banker.
It's mostly a parody of Wall Street, but there are some truths. And very very easy to read.
The general section in this list has good books about Wall Street history, banking career http://www.quantnet.com/master-reading-list-for-quants/
WSJ
I second The Accidental Investment Banker. Also, obviously direct your brother to WSO!
Predator's Ball
Liar's Poker Barbarians at the Gate Monkey Business Wall Street Meat The Accidental Investment Banker The New Market Wizards FIASCO
Have him read some econ books before also, general macro theory or econ history. Something along those lines, one title I can think of is J.K. Galbraith's Age of Uncertainty
What if I want to learn more about a particular area, such as Asset Management. I have great textbook knowledge which I am ready to take to the next level.
What books would you recommend?
P.S I am a college senior.
Thanks!
The Schweser Guides for the CFA if you're about to graduate and want to do AM...
I second the classics like Monkey Business, Liar's Poker, Barbarians, When Genius Failed, and Accidental Investment Banker...
Also like the idea of him reading Damn It Feels Good to Be a Banker and Leveraged Sellout Blog to give a decent look at how pretentious it all can be (sometimes a bit of a culture shock if you aren't expecting it)
Other good reads, though a little dry: Where are the Customers' Yachts?, A Random Walk Down Wall Street, The 4 Hour Work Week (not a direct Wall Street tie-in but extremely inspirational), and Too Big to Fail
Books about economic and stock market Recession/Depression/bubble (Originally Posted: 02/24/2018)
Dear all, I am going to study about economic and stock market Recession/Depression/bubble. Please kindly introduce some books about this subject to me (I like to read the books which tell us how fund managers, analysts, investors, Government officials…think and act that times. I quite like Micheal Lewis books the big short, Boomerang) Thanks you so much
A quick Google search should turn up most of the popular ones, especially for the 2007-08 crisis: Lewis, Stiglitz, Blinder, etc.
The End of Alchemy by Mervyn King (former Bank of England governor) is pretty good.
Stabilizing and Unstable Economy by Hyman Minsky has some interesting chapters on financial fragility and crises. It's a bit dated and def more academic, though only mildly technical.
I can probably think of more later and add them. There are some top-notch blog posts on the subject as well. As always, it's good to read a few competing ideas.
there are so many bubble like Japan in 1987, dotcom in 2000, china in 2015... and crisis in 1987, 1997...I love to read books about how fund manager, analysts, general investor think and act...please help me to introduce more book. thanks
Book on financial crisis / euro zone for grandfather? (Originally Posted: 11/24/2011)
Hi,
Hope this is the correct forum to post this in.
My grandfather-in-law is looking to get a book that explains the 2008 financial crisis. And possibly something on the current EuroZone crisis.
He doesn't have any experience in the industry so I'm looking for a good book that was written for the masses.
Thanks for any recommendations.
http://hsgac.senate.gov/public/_files/Financial_Crisis/FinancialCrisisR…
It's a pdf file. I have only read the first couple of paragraphs and it's an easy read. Not sure if this works, but I thought it was worth sharing.
Too Big To Fail gives an account of what happened, it's not written in terms of economics or finance either.
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