Books for Portfolio Management and HF
I'm currently a high senior senior and I want to work in portfolio management and the hedge fund industry in general after college. I was just rejected from some ivies, so I'm gonna go to either nyu or uva
I plan on learning some business/finance/investing relation books and learning the material on my own so I can get a job after college in the HF industry
Which books are very useful for my interests and my career path? I'm currently reading Intelligent Investor, plan on reading Security Analysis, Competitive Strategy, and Money Game after that
I've learned financial accounting at a community college during junior year and I have read the mishkin book on banking, currently reading up on intermediate macroecon as i did ap econ in high school
I would suggest you set up a brokerage account and invest along side your theoretical education. By investing I don't just mean making a few punts on the odd stock. You should write out an investment policy statement that sets out your fund's investment strategy and limitations, target returns and risk, and your buy and sell policy. Ultimately no one will care if you were able to make a 300% return on 1,000 bucks, but being able to articulate yourself like a portfolio manager and talk about overall portfolio strategy as well as security selection will give you an advantage. As for reading Security Analysis.....a lot of people, myself included, rush out to buy the book and never get through the whole thing. It looks nice on your bookshelf and is interesting but discussions about rail road bonds from the 1920's do make for some dry reading at times!
Good luck!
Yeah I second this...I've read The Intelligent Investor 3x but couldn't make it through Security Analysis. I'd recommend More Money Than God if you're interested in HFs. Gives a nice history of the industry as well as insight into strategies of major funds that isn't overly complex.
i like Value Investing by Bruce Greenwald and Letters to Corporate America by Warren Buffett (compiled by Lawrence Cunningham)
This changed my life!
thanks for the suggestions. i will look for some books and examples for the investment policies states and strategies as guides so I can formulate my own.
I would also check out all of the Recommended Reading under each industry in the FAQ section (at the bottom):
//www.wallstreetoasis.com/frequently-asked-questions
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