S&T Literature/Books for Interns?
Curious to see what books are must-reads for SAs before they hit the desk, or even during the internship
Common recommendations I've found are John Hull's book on options and derivatives, and Fabozzi's handbook of fixed income securities
What other books are there that are readable and beneficial for interns? I'm specifically interested in corporate credit, distressed debt, equities, and hoping to learn more about derivs as well.
Cheers!
Hull should give you all you need on Derivatives especially on an intern level.If you want more, get Intro to Credit Derivatives by Choudhry. Distressed debt by Moyers is considered the bible on that topic. It's pricey, but you can find a pdf online. Mezzanine financing by Nijs and Private Debt by Nesbitt are solid reads on the credit side. If you have the time check Trading in the Zone by douglas, more behavioural but incredialy valuable.
You're a saint. SB'ed
Hey there, Im interning with a structured credit/product desk covering assets like CDOs/CLOs, CSOs. Do you have any recommendation on the books? That would be much appreciated! Thank you.
bump
Books by @eastofheaven" are all spot on - I might add "The Handbook of Fixed Income Securities" by Fabozzi (it's free online like everywhere.
TBH tho - read these books if you can, but don't overwhelm yourself, just go balls to the wall during the internship and get people to like you and you should be okay. S&T is a VERY "learn on the job" kind of thing.
If you are in a rates desk: Interest rate swaps and other derivatives by howard corb is a must
very important
lol saw the word literature and came in expecting poems about the markets
Stocks only go up - Shakespeare
'Must Read' will be desk-dependent. In my experience, some good books are:
This only scratches the surface, but I have read and will vouch for these.
With regards to the CDS/CDO's by far the best thing I've read is a thesis written by Harvard grad. Her name is A.K. Barnett-Hart, and most of the technical knowledge used in the 'Big Short by Lewis is taken from there. The paper is about 90 pages and if you go through it a couple of times you should be on top of that topic. You can find a pdf online.
Just an addition: Option Trading by Euan Sinclair
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Hey there, Im interning with a structured credit/product desk in Credit. Do you have any recommendation on the books? That would be much appreciated! Thank you.
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just an addition on my side (EQD/Exotics) excluding what has been mentioned already: Option volatility and pricing by Natenmberg Trading Volatility by Bennet Correlation and Volatility by Rebonato
I would say that these books have changed my way of understanding volatility and the financial world. Also, note that the latter requires good understanding of math/probability but if you understand the book you will have a great edge ;)
Yield Curve Series by Ilmanen . A must read for anyone in rates.
Reading when genius fails rn. So good
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