Books that genuinely helped your career
Does anyone care to share some books they feel have impacted their career/life in a positive way? I'm starting to read a lot more than I used to and would love some good reads recommended by people with similar career interests.
These books, of course, do not have to be limited to career-advice / finance books, although if you have some very influential books in those categories, please feel free to share as well.
The bible, some of ya’ll need Jesus
To counter, The God Delusion and Waking Up
Still in undergrad but this book was an interesting read that I highly recommend:
The Outsiders : Eight Unconventional CEOs and Their Radically Rational Blueprint for Success
Antifragile
I second this. Currently reading and finding it interesting and educational.
How to Win Friends and Influence People by Dale Carnegie.
There is a reason Buffet always praises his certificate from Carnegie’s course that this book is based on. Finance is very much a relationship business and I found this book instrumental on teaching me how to effectively communicate while at work. Well worth the read.
Definitely have to read this one, thanks
Has anyone read the updated version "How to Win Friends and Influence People in the Digital Age"?
Yes, have read it and didn’t enjoy it. It’s definitely updated a lot as all the stories reference material that happened after the original version was published. The lessons stay the same however. Found a bit dull/basic but I’m just one opinion.
The best book I’ve read so far!
Millionaire Mind, by Thomas Stanley
Most accurate, non-BS representation of the careers/businesses of the wealthy in the US. Great advice as well (don't bother with Millionaire Next Door, no where near as useful)
Startup of You by Reid Hoffman (co-founder of LinkedIn and PayPal)
I'v read that book before. Actually disagree on how helpful it is because I think it's a bit shallow.
"Extreme Ownership" - Jocko Willink
"Meditations" - Marcus Aurelius
"The Power of Now" - Eckhart Tolle
I think meditations is pretty overrated as life skill/self help book. It’s basically just the guy’s diary entries without context, a series of blurbs in which Marcus references stuff from his day and reassures himself by reciting his thoughts on stoicism. It’s definitely interesting to read, especially for people who like Roman history, but I don’t think it deserves its current reputation.
I haven’t read it yet but got through the intro that someone added to give context to the book and that’s what he says. He says that chapters and everything are given to give context to the book but that it’s pretty much letters, journals, and thoughts. It was never meant to be a book so that’s why it doesn’t read like one.
I looked into "Extreme Ownership" and it seems great, but it has a big problem. Like a swingers party, it only works if everyone involved agrees and is committed. I can easily see bad work environments in which people simply point the finger and go "yeah, he fucked up and admitted it" when you take that extreme ownership. Granted, not all environments are toxic, but even normal workplaces can have people or bosses out to save their ass. Whilst I think that the extrapolation from military life to civilian life can be applied, it is a bit of a stretch. Fucking up a mission in the military can result in lives being lost so people want to own up and take responsibility. At work, if throwing you under the bus means you get a lower bonus and someone else gets a higher one greedy people will do that. Bottom line is, be very careful when applying extreme ownership in daily life and who you apply it with.
Pharma Guy, thanks for the thoughtful discussion! What a breath of fresh air. Agree with what you say and would like to advance the conversation.
I wholeheartedly agree that Extreme Ownership works best in one of two environments: (1) A flat team organization of relative equals (a marriage, a partnership, a very flat startup, your own personal discipline, etc.), or (2) When adopted by the top leadership on down.
"Extreme Ownership" by an Analyst which is not shared by the MD is not a culture of ownership. It will, as you said, lead to getting thrown under the bus, and the senior people not realizing or appreciating the ownership aspect. That is definitely counterproductive. I think as a result, the book is really targeted first at people leading their organizations or teams. Accountability is an attribute that you can't really train for, but you can hire people that are accountable, and while you can't always demand others to be accountable, you are always in control of being accountable yourself.
Beyond taking ownership being a nice thing to do, like someone virtuously taking the fall for a mistake, it is a necessary thing to do. Problems cannot get fixed without diagnosing the root issues (that's why we continue to have so many problems as a society that are left unsolved). As you mentioned, our base human nature may well be antithetical to this instinct -- we have some that will fight, some that will flight, in the face of danger. But for this very reason, when historical examples of great leaders come up, they are those that are able to rise above our base fear instincts and boldly put themselves in harm's way, in risk's way, and own up to the result. That's across politics, military, investing, and many other spheres.
So, do you need extreme ownership to be "good" or "safe?" No, and you may in fact be jeopardizing a safe place by starting to adopt this. But, do you need ownership to be great? I believe that's beyond debate.
Disgraced by Ayad Akhtar and Death of a Salesman by Arthur Miller
As someone that is at pivotal point of career progression, "Death of a Salesman", hits me right in the feels....
As mentioned above, Extreme Ownership is fantastic
"So Good They Can't Ignore You: Why Skills Trump Passion in the Quest for Work You Love" -Calvin Newport. The author makes a strong case for skill-talent NOT passion. This book helped me reposition mid-career and transition smoothly to a less stressful job.
Also Cal Newport's book: Deep Work. I've read deep wprk 3-4 times. Very helpful.
Rich Dad/Poor Dad by Robert Kiyosaki. A lot of what his books say is nonsense and the guy's background is questionable but his simple approach to explaining why the poor and middle class never build any wealth (they spend money on liabilities like cars and gadgets) was a real eye opener to someone who grew up in family where education and getting a god job was preached from day 1.
Came to comment this.
I come from a hardworking self-employed family so we have assets that the upper middle class would have but we have a "working class" lifestyle.
Rich Dad, Poor Dad was eye-opening because my father was teaching me about assets and liabilities from a very early age. He would joke and say "what's rent?" and I'd say "passive income" etc. I probably read the book when I was 14 and even though I don't remember any of it now, it was the first book that I've read and it just opened an entire new world for me. I also read Trump's "Art of the Deal" a week after that and together they showed me that there is a very interesting world outside of my country.
Now I'm an expat that studied Finance. And contrary to your findings, in my WM job I saw how people with good education and good jobs can retire with a good net worth of like $2-3m. There is actually nothing wrong with getting a good job. It's about what you do with the money.
If I didn't read any of these books I would probably be running a kebab shop in Eastern Europe.
It’s never too late to start up your kebab shop in Eastern Europe. Follow your dreams!
Wait $2-3 million is a good net worth? I'm trying to get $200 million and I don't know if that will even be enough.
I place Kiyosaki in the same boat as Dave Ramsey, but less applicable. Rich Dad/Poor Dad was the book that sparked my interest in finance, so i owe it that. That said, a lot of the shit said in teh book leaves a bad taste in my mouth.
Antifragile by Nassim Taleb is a great read
People/thinking-focused: * Mindset - Carol Dweck * Influence - Robert Cialdini * How to Win Friends and Influence People - Dale Carnegie * Atomic Habits - James Clear * Antifragile - Nassim Taleb
Investing/finance-focused: * Buffett letters (it's free too!) * Margin of Safety - Seth Klarman * The Most Important - Howard Marks * Competition Demystified - Bruce Greenwald * Innovator's Dilemma - Clayton Christensen
Mostly personal development books:
How to Win Friends and Influence People - Dale Carnegie High Performance Habits - Brandon Bruchard Influence - R.Cialdini The Power of Now - Ekhart Tolle The Game - Neil Strauss Atomic Habits - J. Clear The 7 Habits of Highly Effective People Factfulness - Hans Rosling
I actually do not recommend the 7 habits books. Cal Newport's deep work is, imho, 20x better than that one. I promise you I do not take any $$ from Cal Newport...or his publisher...
Haven't read this, but 7 Habits has some great lessons: begin with the end in mind, focus only on what you can change, think win-win... all great advice.
Hannibal and Me: What History's Greatest Military Strategist Can Teach Us About Success and Failure
+1 for books about military leaders. Last year I read Genghis Khan and the Making of the Modern World which was a great read.
Second this. Well written and just an unbelievable story.
ALL TIME
How to Win Friends and Influence People (most memorable quote to me: "Hello, Mr. Nicodemis Papadoulos")
Think and Grow Rich (a lot is good for career/life; I'm fascinated by the chapter on "The Mystery of Sex Transmutation")
Vandals Crown (foreign exchange market and how hardliners are no match to the free market over time; read it for fun in college)
Land and Power in Hawaii (relevant if you want to do business in Hawaii)
On China (Henry Kissinger; back around 2010 was fascinated about geopolitics and strategy; near threats and far threats, differences between China's perception of national safety vs the US)
Influence - R.Cialdini (recommended above and to me before; I read it but don't remember much)
RECENT
Tools of Titans (Tim Ferriss, love him or hate him; I like him, good read of interviews of successful people; read about 70% of it)
Being Mortal (written by a doctor; most memorable: with chronic disease we survive, survive and then die rather quickly when the sum of the body's breakdowns reach a tipping point; read about 50% of it)
Am I being to Subtle (Sam Zell; real estate; read it cover to cover)
I really didn't like Think and Grow Rich. Basically, the guy wrote a full book about the fact that the law of attraction works. More, he uses it like some mystic force that will make everything alright whereas in reality it works as follows: you think strongly about something, you create an identity about it, which activates your Reticular Activating System for you to see more opportunities about what you're thinking about, which reinforces your identity around it once again, which in turn makes you change your behavior in the face of new evidence, etc.
How did you like On China? Have it on my shelf and let my roommate borrow it, but he hasn't started it yet. I wonder how it compares to the current US-China environment.
I think it was great. After reading that I then doubled down on reading about The Party (it was called that).
Anyways back to On China, helpful to gain a perspective on a generation, which I dub a 30 year or so knowledge gap between generations (people who lived 1945 - 1980 and are still alive today; and my generation starting 1980). Understanding history. Mao but also Zhou Enlai, someone one more analytical could relate to.
I can’t remember everything about the book but how it relates today. Chinese leaders play the long game. They also see the West as always trying to box them in. They also see domestic threats as the biggest; also invasion from Russia (the near threats). China was great but humiliated for over 150 years. The emphasis on strategy similar to the game of Go. The need to cling to power or else feel the purge in your camp within the party (power struggle leading to Xi’s rise and reign; forgot if I read that in On China).
That makes me think. They don’t care about the fate of a generation (Hong Kong) because the people of the City will eventually change. It saddens me but we are just here for a limited time. The Go strategy reminds me of the US-Japan-SK-Taiwan, add in Philippines and so forth boxing in, containment strategy. For the US, we have a hegemony the Western Hemisphere and have the luxury of projection.
The older generation is still in power. They are split into camps of admiring the US (bc China was going through bad things like the Cultural Revolution - funny there’s the word Cult in Cultural, just noticed) and those who see the US as an enemy. The power struggle of that seems to be hardening in both the US and China. The younger people are also split in the get educated in the US camp and those who think China is so great. Anyways I’m over generalizing and only basing my info on limited sources. I find it dumb to punish the let’s get educated in US camp; but, we are heading into a Cold War. So yes On China seems to be relevant.
Influence was required reading for one of my marketing classes, great book
Land and Power in Hawaii - do you think this could be applicable to understanding the dynamics of doing deals in captive markets e.g. Hawaii?
I think part of the joy of the book was reading about names you might of heard about growing up (business people, politicians) and knowing the places/locations that these people built. So I might derive more enjoyment because Hawaii is my hometown.
The historical confluence between socio-economic dominance Pre-Statehood 1959 by the minority white landowners combined with the returning Asian American GI’s (predominantly Japanese American) from WWII gaining influence in the new Democratic Party, that is an interesting history that maybe in captive markets you can see repeated (not sure but maybe post-colonial Africa?). 1959 - 1985 saw rapid change and prosperity. A doubling of the population during the Jet Age of 1960’s (impacts on in-migration and tourism to military to trans-continental travel logistics). The power to tax and control the use of land, giving rise to multi-ethnic (White-Asian) participation in business.
A book written in 1985, I wonder what’s next in 2020 and beyond. Demographics changing. Tourism is shook up due to COVID. High cost of living for the working class.
It’s pretty Hawaii specific and it helps to have some context going in. That said Hawaii people tend to think of themselves as coming from a homeland, so book’s on local business not sure how many good ones there are. This book would be like the book on Robert Moses for New York City, great if you know the landmarks, people and places.
Talent is Overrated - Colvin AI SuperPowers - Kaifu Lee Financial Shenanigans by Howard Schilit Ray Dalio - Principles for Life and Work
Have not read first two, Financial Shenanigans should be top five in this thread. Principles was great... ableit a bit overhyped.
When you have billions of dollars and are trying to share a message your marketing budget is pretty huge.
AI Superpowers is a great read. Can definitely also recommend that. I still have to get around to read Principles at some point though.
A title that I didn't see mentioned so far: Outliers: The Story of Success - Malcolm Gladwell
What were your thoughts on this? I just read it a couple of weeks ago and unfortunately the field is moving so fast I felt it was a bit out of date. I also wish he'd gone into more depth on the topic he discusses. Overall I thought The Second Machine Age was a better AI book.
Thanks for the tip. I'll check it out. Yes the field is moving so quickly that much of what is written in a book is already outdated. There's some good podcasts though. I have another WSO post on that.
What It Takes by Steve Schwarzman
The Great CEO Within is the absolutely best book ever written. I make all my managers read it, founders we do growth equity in, etc... ZERO fluff. Look the book up @ the writer. Far more legit than these cuck management consultants writing books.
Taleb's books earned me more than a job offer. Everyone has read them but many struggle to apply concepts to real world events, which is exactly the point of them. I'll never thank the guy enough.
Can you elaborate on how you’ve applied them thus far?
bump
For my very first prop trading job, I interviewed with the MD, he had the entire series on his desk, I brought up tinkering, which Taleb discusses and we had a nice 10 mins discussion about it.
Another firm asked about political polarization and where I thought it was going, I brought up the ''dictatorship of the intolerant minority'' explaining we were going down that path.
Another one asked why markets went up after Trump won in 2016 and why many people got it wrong, Taleb makes good arguments about biases and limitations of economic forecasting.
Robert Greene. All of them.
If I had to recommend just 3 books for your career, all 3 of my recommendations would be from him. 48 Laws of Power, Mastery and 33 Strategies of War will be a lifesaver many times in your career and following his rules (knowingly because you have read the books or unknowingly) are in my view the reason why some people make it and other equally intelligent people dont.
Some other books that make for a nice read (many have already been mentioned): Jamie Dimon: Last Man Standing (found it better than Schwarzman's bio) Dale Carnegie: How to win friends and influence people The 7 habits of highly effective people The McKinsey Mind Ray Dalio: Principles Everything from Kissinger Nassim Taleb
Antifragile by Nassim Nicholas Taleb Skin in the Game by Nassim Nicholas Taleb When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein On the Shortness of Life by Seneca Never Split the Difference: Negotiating as if Your Life Depended on It by Chris Voss The DAO of Capital: Austrian Investing in a Distorted World by Mark Spitznagel
E-Myth
Actually, Economics: The User's Guide by Ha-Joon Chang is something that got me genuinely interested in economics and finance, and brought me to work for a stock exchange, and later for MM IB doing ER. So, I'd say it really did change my life.
Lots of good stuff up here. I would also include "Market Wizards: Interviews with Top Traders" by Jack D. Schwager.
https://www.amazon.com/Market-Wizards-Interviews-Top-Traders-ebook/dp/B…
Basically, it's a collection of interviews of successful hedge fund guys from the 80s.
My favorite books are not the typical business books. They are books that helped me grow as a person, the business side came later.
The Millionaire Next Door by Thomas Stanley Eron: The Smartest Guys in the Room by Bethany McLean Too Big to Fail by Andrew Ross Sorkin It Worked for Me by Colin Powell The Bonfire of the Vanities by Tom Wolfe
I can't recommend anything from Taleb enough but specifically Antfragile. It really does open up an entirely different way to think about things and with that framework in mind you can adapt it to anything that you do. I have been reading it over and over again in parts for over a year now.
Also, as Seneca said in Letter II in "Letters From a Stoic":
The primary indication, to my thinking, of a well-ordered mind is a man’s ability to remain in one place and linger in his own company. Be careful, however, lest this reading of many authors and books of every sort may tend to make you discursive and unsteady. You must linger among a limited number of master thinkers, and digest their works, if you would derive ideas which shall win firm hold in your mind. Everywhere means nowhere. When a person spends all his time in foreign travel, he ends by having many acquaintances, but no friends.
The whole letter, and book for that matter, is well worth the read. I included that quote because to me it is more important to really understand a book and an author - and be able to use your own mind to expand on their thoughts - than it is to just read as many people and books as possible. It takes time and critical thinking for ideas to really sit inside you and fester enough for you to then go on and really apply them to your life.
Did you read his whole Incerto series? Based on all the praise in this thread, I was planning on picking that up and reading those four over the summer.
I have them all but haven’t made it through them. I’ve finished Antifragile and The Black Swan. He also has a technical book called Dynamic Hedging that I use as a reference often in my work.
I haven’t finished any of his other books because for me they are the perfect jumping off point for other ideas. Multiple times now I have come across an idea or historical reference in his writings that sends me down a rabbit hole of another book(s) for a couple months. Then I slowly find my way back to him and read a bit more before the cycle starts again. Exhibit A is the quote from Letters from a Stoic. I ended up reading that because of his chapter on Seneca in Antifragile.
bump
Zero to One by Peter Thiel was a great book. You kind of get the gist of what he's getting at in the first 50 pages, but the book does a good job at depicting the type of businesses you should be investing in, which is contrary to what you learn in academic econ classes.
Reading this book currently. Really opened my eyes since it never clicked in my head to think in the terms given in the book.
Give and Take by Adam Grant
So many provide their own little piece of knowledge, I dove into the following this year and learned a ton: Where are the customers yatchs When genius failed Liars poker Barbarians at the gate The new new thing Thinking fast and slow Common stocks and uncommon profits A random walk down wallstreet The intelligent Investor Flash Boys The Money Culture How to Win Friends and influence people Rich Dad Poor Dad Snowball 7 habits of highly effective people The big short Billion dollar whale Wiley Finance - Investment Banking (Rosenbaum)
Human Behavior / Development - Thinking Fast and Slow - Daniel Kahneman - Mindset - Carol Dweck - How Not to be Wrong, the Power of Mathematical Thinking - Jordan Ellenberg - the Hour Between Dog & Wolf - John Coates
Business - Reminiscences of a Stock Operator - Edwin Lefevre - Essays of Warren Buffett - Lawrence Cunningham (skip the author’s intro!)
History/Geography: - Sapiens - Yuval Harari - Fractured Continent - William Drozniak - Prisoners of Geography - Tim Marshall
Other favorites - Moment of Lift - Melinda Gates - The Boy Who Harnessed the Wind - William Kamkwamba & Bryan Mealer
mark
Political Philosophy:
De re publica ('The Republic'), Marcus Tullius Cicero
Two Treatises of Government, John Locke
Just Freedom, Phillip Pettit
Economics:
Basic Economics, Thomas Sowell
Why Nations Fail, Daron Acemoglu
Capitalism, Socialism and Democracy, Joseph Schumpeter
Finance:
Distressed Debt Analysis, Stephen Moyer
Mastering the Market Cycle, Howard Marks
A Random Walk Down Wall Street, Burton Malkiel
Finance and the Good Society, Robert Shiller
Sapiens
The Goal (Goldratt) - absolute must read, manufacturing sector by the beauty of the book is that it needs to be applicable everywhere, Who Moved My Cheese (Johnson), Capital in the 21st Century (Piketty), Financial Accounting ha (McGraw Hill), and Mob Rules: What the Mafia Can Teach the Legitimate Businessman (Ferrante)
Thanks for the recs. I've added The Goal and Who Moved My Cheese to my reading list. I'm going through Piketty's new book now, Capital and Ideology...not sure on my thoughts on it yet.
Do you speak french? or did the translation come out?
Life: "Zen and the Art of Motorcycle Maintenance" by Robert Pirsig Finance: Natenberg's "Option Volatility & Pricing"
That is all.
Oh and...Mark Filippell's book, "Mergers and Acquisitions Playbook: Lessons from the Middle Market Trenches"...just for MAF
Who Moved My Cheese is pretty depressing if what you plan to do is work in a corporation. It may make you run for the exits.
Totally aside, but did you guys pick up a Kindle for the reading, or mostly iPads/laptops?
I had a Kindle and never used it until recently . I really like it. It does inspire you to buy more books, must admit, but that's not the end of the world.
So much easier to maneuver the little thing rather than a laptop
How you doin'? Feeling 100%?
Thank you very much for checking on me. You mean the COVID thing? Yeah, I was better after 2 days. But then that mistake of turning myself in to the hospital... yikes. 5 week in a cell. Not well thought out plan. At least I'd have brought more stuff along with me if I was going to be locked away.
I think it's important for people to read as a way to expand their understanding of the world and how they fit into it. A lot of philosophers have great work, and I have been reading a lot into existentialism.
i.e. Fyodor Dostoyevsky, Notes from Underground
Atomic Habits Principles Relentless Rich Dad, Poor Dad The Art of War
in no particular order
For the Love of Money The Power of Habit Grit
Never split the difference by Chris Voss - great book with highly applicable concepts
How to win friends and influence people. Other than that, get out there and experience your own book.
Ascent of Money by Ferguson Antifragile by Taleb Meditations by Marco Aurelio More money than God of Mallaby The Prize: epic quest for oil money and power by Yergin King of Oil by Amman Infinite power by Strogatz
enjoy!
A few recent reads stick out:
What it takes: Lessons in the Pursuit of Excellence by Stephen Schwarzman
Hit Refresh by Satya Nadella
Reminiscences of a Stock Operator by Edwin Lefevre
The Second World War by Winston Churchill
High Output Management by Andrew Grove
Freedom & Resentment by PF Stfrawson
The Third Pillar: How Markets and the State Leave the Community Behind by Raghuram Rajan
Seth Godin - The Dip
Yes, it was quoted in Billions. Yes, I read it before Billions came out.
Everything action bronson has put to paper.
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