Any good books to read?
Running out of books and need a few good ones. If you guys have any recommendations for hedge fund related or anything y’all thought were intellectually stimulating.
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Career Resources
When Genius Failed – Roger Lowenstein (story of LTCM)
Fooling Some of the People All the Time, A Long Short Story – David Einhorn (story of Einhorn’s short position on Allied Capital)
Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street’s Bluff – Christine Richard (Bill Ackman’s short on MBIA)
The Greatest Trade Ever – Greg Zuckerman (John Paulson’s short on mortgage crisis)
The Big Short – Michael Lewis (Steve Eisman and Michael Burry’s short on mortgage crisis)
Money Masters of Our Time – John Train
More Money Than God – Sebastian Mallaby
+1 for When Genius Failed. Very well written and engaging.
First three on the list are gold!
The Good Book can be fairly intellectually stimulating especially with some good commentaries… otherwise a lot of hedge fund books are like stories / historical accounts of managers / trades. Some of them talk about investment philosophy and theories that may be more intellectually stimulating. Depends on what you like
I really liked this book: An Emotional Education by The School of Life. It affirmed some new things and connected quite a few dots.
Summa Theologica.
Accept Christ
best rec itt
everyone else is a weenie
dangerously based
Just a few I like.
Investing related:
NonInvesting but Related:
Completely Unrelated:
I think at one point Ken Moelis may have requested all of his employees to read Atlas Shrugged… so maybe kinda relevant for those who may want to work there haha
Of course he did… lol. It’s a good book but I’d recommend people keep a critical mindset while reading it since it’s pretty, ah, intense?
Also, which bottom bucket monkey MS’d my book recs? Can’t wrap my head around how you could rationalize that lol.
Kahneman is obviously an intelligent guy, but that entire book could've been summed up in like 10 pages lol
110% agree. I ended up skimming most of it for that exact reason. a good but dense read.
Weird esoteric lit (Henry Miller Charles bukowksi) and murakami are pretty damn good
I guess Murakami can be hedge fund-related, hahahah. Agreed tho.
none of these are esoteric you pleb it's all normie shit
Really enjoyed Murakami
Efficiently Inefficient - Lasse Heje Pedersen. Surprised no one has said it yet - great overview of equity and FI strategies, really helped me when I started recruiting
In Search of Lost Time by Proust
good
Black Edge: Inside Information, Dirty Money and the Quest to Bring Down the Most Wanted Man on Wall Street by Sheelah Kolhatkar
Revolt Against The Modern World - Julius Evola
cringe and middleschoolpilled
based and Italian pilled
Shameless plug. Just published a novel about investment banking, The Pitchbook: A Banking Analyst's Tale of Markets, Millions, and Mayhem.
If you want to check out the chapter preview on Amazon, see this link
It’d be so cool if you could get it on audible
Thanks! If sales pick up, I will definitely do that. I already have someone lined up to record it. However, I didn't want to sink a bunch of money into a professional recording without first seeing how things would go with the print and ebook versions.
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>guns, germs and steel
please neck yourself forever
"I'm a 105 IQ pretentious fuck and I think these are Deep Books for Intelligent People", the list
$10 you haven't read more than 20 pages of Ulysses
.
The Caesars Palace Coup: How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street
I read a bit of this recently. Thought it was a nice read overall
Billion Dollar Whale (on Jho Low and is fraud fund)
When the Wolves Bite Back (Herbalife battle with Ackman and Icahn)
Truth and Method
Nicomachean Ethics
This might be offensive to some: Nicomachean Ethics is one of the most boring books I've ever read.
If you’re dead set on a finance read, it has to be When Genius Failed.
Aside from finance, Dune is my favorite of all time (and it would be nice to read before the film in the next year releases - especially bc the cast / director will be great).
I really enjoyed reading The Medici by Paul Strathern
Finance ppl who read finance books are the most boring
Family of secrets - Russ baker
The Prince - Niccolò Machiavelli
The Undoing Project - Michael Lewis
Black Edge - Sheelah Kolhatkar
The Fed and Lehman Brothers- Lawrence M. Ball
Crashed: How a Decade of Financial Crises Changed the World - Adam Tooze
The Spider Network - David Enrich
+ 1 on the spider network - great read!
The Outsiders - Great book on some of the best CEOs of the past and how they generated immense shareholder value through strategic capital allocation.
A great read, but I think after the first 3/4 CEO the rest of the book becomes a bit redundent. Still nice to read their stories tho.
The Art or War - learn how to dominate in LIFE
it's horrible that this book got popular with normies because it turned a great book into a meme
more money than god is great but for those who really want to know more ab ib and have no experience i recommend reading this in college
Pic doesn’t load.. can you type out the title?
Money Mavericks by Lars Kroijer. Great book on how he started his own hedge fund and ran it for a decade. Great read.
Books I found interesting:
Lessons from the titans by Melius Research. This runs through the life cycle of many industrial companies and can be relevant for many other industries as well.
Quality Investing by Cunnningham/AKO Capital. A reminder of what good companies look like.
Dead Companies Walking / Selling America Short - tales of some gret short selling adventures.
A few style based books
Equity Investing
One up on wall street (GROWTH INVESTING)
Dhando Investor (VALUE INVESTING)
You can be a stock market genius (EVENT DRIVEN INVESTING)
Art of Short Selling (LONG SHORT INVESTING)
Active Portfolio Management - Grinold and Kahn (QUANT FACTOR INVESTING)
Macro Investing
Global Macro Trading by Greg Gliner (DIRECTIONAL TRADING)
Eurodollars Futures and Options Handbook (STIR TRADING)
FX Derivatives School (FX VOL TRADING)
Fixed income relative value analysis (RATES RV TRADING)
Art of Currency Trading (SPOT FX TRADING)
The Front Office by Tom Costello is a really fascinating read for those interested in the quant world and their perspective on stuff like market inefficiencies, liquidity, alpha, beta, etc. He also provides insight into the hedge fund world and setting up one’s own fund.
Geopolitical alpha by Marko Papic is also a very interesting read for aspiring macro investors as it incorporates politics into the macro puzzle.
Mastering the Market Cycle by Howard Marks is an interesting read on market cycles; really repetitive but gets the job done. Not much of a macro book but more of a strategy guide to navigating through cycles.
As for other books on global macro, I would say that it’s best to first get basic economic principles down by taking a macro and micro course and then take a money & banking course. I can’t stress how important taking a money & banking course is to understanding how markets work. For instance, do u know that there is a difference between monetary base and money supply? Consequently, implementing QE in 2008 did not lead to inflation as the lack of demand for loans hindered the increase in the money supply despite the increase in the monetary base. Also the velocity of money continued to decrease after 2008, preventing demand side inflation from occurring.
Besides that, I currently have The Holy Grail of Macroeconomics by Richard Koo on my reading list since I’m really interested in Japan’s lost decade and Koo’s proposal of a balance sheet recession.
Any particular book you’d recommend for money and banking?
I'm reading Triumph of Politics rn. Really insightful and relevant even to politics over the past 5 years or so.
These are some books that helped me
The Greatest Trade Ever – Greg Zuckerman (John Paulson's short on mortgage crisis)
The Big shot (Steve Eisman and Michael Burry's short on mortgage crisis)
Money Masters of Our Time – John Train
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