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The Ascent of Money: A Financial History of the World - Niall Ferguson.
agreed
Barbarians at the Gate - Bryan Burrough / John Helyar For me!
Cold Steel!
More Money Than God - Sebastian Mallaby
Agree on More Money Than God. Just finished it. Very under-appreciated book. Will probably become required reading for HF-types in the future.
Loved Boomerang by Michael Lewis as well.
+1 on More Money Than God - great for those interested in HFs. Loved King of Capital, a history of Blackstone and a description of lots of its (good and bad) deals. Really liked Fooling Some of the People All of the Time (Einhorn's account of a long-term public short and all the drama associated with it). Liked The Accidental Investment Banker. Wolf of Wall Street 1 was nuts, 2 was good but not as good.
Anybody read Damn It Feels Good to be a Banker? Thoughts?
I have. It was a good intro into what IB and ST are, especially for people who are just starting to think about their career paths (freshmen, sophomores), and it was entertaining. I read it in a day. A lot of the music and pop culture references are terribly out-dated, which just made it funnier.
A new one but a great one: The most important thing by Howard marks
One of my all time favorites
My vote was for Against the Gods. First picked it up when I was browsing through my father's library and the cover art caught my eye. I was still in junior high school at the time. I re-read the book again when I was older.
The book has its faults, but I think Bernstein does a good job of taking complex ideas and weaving them into an accessible, entertaining piece of writing.
Security Analysis has got to be on this list. It's Graham's magnum opus!
The Little Book That Still Beats The Market
the buyside by turney Duff
Ok, how many of you rookies voted for "Investment Banking: Valuation, Leveraged Buyouts, M&A - Rosenbaum / Pearl / Harris" just so that you could list it on your resume?!
Monkey Business FTW...However, I read it shortly before getting into banking and I refuse to read it until I'm out of banking for fear of breaking down into a ball of tears after realizing how accurate it was/is.
Margin of Safety by Seth Klarman
By far the best. That man is a value investing genius.
The Buffett bio by Roger Lowenstein. That book really changed my life/direction - I was 13 or 14 at the time and read it in a couple of days. For me that was the 'innoculation' of value investing that some talk about.
More recently, Competition Demystified by Bruce Greenwald has made me think more systematically about how to look at an industry and focusing on what drives competitive advantage (if any exists). Less of a wild goose chase now.
You Can Be A Stock Market Genius by Joel Greenblatt
I picked Alchemy of Finance but Market Wizards and Reminiscences of a Stock Operator are up there too.
Security Analysis, so much info still relevant today. A much more expanded version of Intelligent Investor that dives much more deeply into how to value a business. Intelligent Investor was good, but Security Analysis puts it on roids. Re-reading it as I did a horrible job the first time around.
I keep trying to read it but it's SO DRY.... Margin of Safety definitely up there with the best.
Reposted
Snowball should be on this list (Buffet's biography). Long but very interesting, couldn't stop reading it. They'll probably make it into a movie someday.
In terms of investing books: The Intelligent Investor Security Analysis You Can Be a Stock Market Genius Distressed Debt Investing (I'm leaving out Margin of Safety because I found it largely regurgitates The Intelligent Investor.)
In terms of books about finance: Barbarians at the Gate Too Big to Fail
(Big step down)
Liar's Poker Confidence Game Fooling Some of the People All of the Time The Vulture Investors (essential reading for distressed/deep-value investors)
William O'Neil "How to Make Money in Stocks" should be on list
A Random Walk Down Wall Street is listed twice. Also agree that the Joel Greenblatt book is up there on my list.
By far the two best investing books not listed are You Can Be a Stock market Genius, and Margin of Safety.
Hard to pick but More Money Than God is easily one of the best books I have ever read, period. Very subjective, but it's incredibly easy to read, well-researched, informative, and full of great stories. Highly recommended.
The Big Short is a close second, as it's one of the most interesting things I've ever read.
damn, it feels good to be a banker
I am not an investment banker, not a PE guy, not a quant- just a business guy that owns a variety of businesses and real estate. I dont play stocks etc. But I am VERY disapointed no one mentioned Predators Ball or Den of Thieves. The o ly thing we learn from history, is that we dont learn anything.
Predators Ball should be required reading for anyone that wants to make real money and have freedom
No love for The Investment Answer? Super short, written by a dying financier and his friend, and is basically the "don't do dumb shit" primer for investor wannabes.
I enjoyed the most "the House of Morgan" by R.Chernow.