Books to read for those looking to break into the HF industry?
What are the best books for those completely new to the industry to get upto speed before interviewing for L/S roles?
Trending Content
Career Resources
WSO Free Modeling Series - Now Open Through
April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
More Money than God - good summary on history of industry and strategy. Also great read
Seconded!
Sebastian Mallaby is a great writer (former FT and The Economist writer so the book does target a financial audience). Not really related to HF but its other book "The Man Who Knew" is a great read about Greenspan's bio.
Reading right now - very insightful!
Hedgehogging- Barton Biggs. Investment Banks, Hedge Funds, and Private Equity (Chapters 11-15) - David Stowell
Difference and Repetition
lmao
i think most finance hardos could benefit from some good critical theory
Aye, that they could.
Money Masters by John Train
There aren't great books on this. I recommend Graham & Doddsville newsletters, which dives into how HF managers think. The HF managers also usually offer advice on breaking into the industry: https://www8.gsb.columbia.edu/valueinvesting/resources/newsletters
Here's a good one with Jim Chanos and Julian Robertson:
https://www8.gsb.columbia.edu/sites/valueinvesting/files/files/Graham%2…
Find a sector/industry and learn it. Preferably a growing one that is also somewhat opaque to the layman. Learn the business, products, competitive dynamics, value chain, financials, etc. Don't bother wasting time reading any books.
Curious about your thoughts on what are some of the best industries to start off in for equity investing at a hedge fund? Besides tech, which industries will have a good future in the next 20+ years? Why might reading investing books be perceived as a waste of time?
How do I learn a sector, where do I start?
Fooled by randomness. Taleb is arrogant and frustrating at times but for a book written 15+ years ago, it’s still shocking relevant (mainly because our industry hasn’t truly absorbed the difference between skill and luck).
Fantastic recommendation, his other books are good as well. Black Swan is easier to digest than Fooled by Randomness.
Fooled by randomness is like reading a Michael Lewis book. Nothing remotely difficult to understand imho.
also recommend superforecasting. And Annie duke’s book - full disclosure - haven’t read it myself because I’m already trained to think that way, but others seemed to really like it.
Cable Cowboy
When Genius Failed
Optio voluptas tenetur fugiat perspiciatis officia. Ea atque qui fuga ut. Exercitationem autem et est. Omnis voluptatem aliquam quo voluptatem a. Nobis voluptatem nesciunt sit facilis.
Eveniet magni alias eum nihil praesentium quis atque itaque. Veniam inventore placeat saepe accusantium. Qui qui sunt inventore deleniti hic harum aut. Aut quis porro et distinctio. Sed soluta voluptatem nemo ratione odio quaerat eius. Aliquam dolorem voluptatibus repellendus sint quos iusto. Sit quia aut reiciendis qui sunt fuga.
Reiciendis qui aut voluptatibus aut. Ducimus aspernatur sit nemo et ut sapiente. Quia aliquid autem et vel ratione quae provident. Inventore ea qui laborum cum optio. Nisi porro aut nostrum facere.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...