Here are 31 books that The Man Who Solved the Market fans have personally recommended if you like
The Man Who Solved the Market.
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I’m an investor from three perspectives or dimensions. First, I manage money for individuals and institutions as Chief Investment Officer of Beacon Trust, a $4 billion registered investment advisor based in NY/NJ. Second, I teach MBA classes in investing at Rutgers Business School, Columbia Business School, London Business School, and Hong Kong University (HKU) Business School. Third, I write articles and books on investing, including The Art of Investing: Lesson’s from History’s Greatest Tradersand Buffett’s Tips: A Guide to Financial Literacy and Life. I’ve personally met Warren Buffett on four separate occasions and think he is an excellent role model from both investing and personal perspectives.
Carol Loomis has edited Buffett’s widely read Letter to Shareholders for many decades. She is also an outstanding journalist who was a writer and editor at Fortune for 60 years. Her book is a compilation of many of her interviews with Buffett over the years, with some additional commentary. As the book subtitle indicates, the book covers “practically everything” in a conversational format so it is sort of a quasi-biography of Buffett.
Tap Dancing to Work compiles six decades of writing on legendary investor Warren Buffett, from Carol Loomis, the reporter who knows him best.
Warren Buffett built Berkshire Hathaway into something remarkable - and Fortune had a front-row seat
When Fortune writer Carole Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 article, she didn't dream that Warren Buffett would become the world's greatest investor. Nor did she imagine that she and Buffett would be close friends.
As Buffett's fortune and reputation grew, Loomis used her unique insight into his thinking to chronicle his work, writing scores of…
It is April 1st, 2038. Day 60 of China's blockade of the rebel island of Taiwan.
The US government has agreed to provide Taiwan with a weapons system so advanced that it can disrupt the balance of power in the region. But what pilot would be crazy enough to run…
I’ve always been interested—a vast understatement to anyone who knows me—in what makes people tick. I’ve focused on analyzing business actors – bankers, lawyers, investors, executives, shareholders, and others. What do they want? Some combination of money, power, or prestige? How does loving to win fit in? How about hating to lose? When is enough (money/power/prestige) enough? What do they think is ok to do to get what they want? What do they think is not ok? Amazingly, as a law professor, I can pursue that interest as part of my job, and – I think and hope – do so in a way that might help lawmakers, regulators, and policymakers do better.
This is a beautifully written story about bankers who rise, and fall spectacularly – into crime, in this case insider trading, with the loss of money, status, and prestige that followed.
What’s particularly fascinating is the historical, ethnic, and sociological backdrop. The book begins with a scene in which Indian-born Rajat Gupta, having come to the US and ascended to the highest echelons of the US business world, was attending a White House dinner for India’s Prime Minister.
The book ends as some people who had been on top are dealing with the aftermath of trials that went very badly for them. The word “Shakespearean” has been used to describe this book, and aptly so.
Just as WASPs, Irish-Catholics and Our Crowd Jews once made the ascent from immigrants to powerbrokers, it is now the Indian-American's turn. Citigroup, PepsiCo and Mastercard are just a handful of the Fortune 500 companies led by a group known as the "Twice Blessed." Yet little is known about how these Indian emigres (and children of emigres) rose through the ranks. Until now...The collapse of the Galeon Group--a hedge fund that managed more than $7 billion in assets--from criminal charges of insider trading was a sensational case that pitted Preet Bharara, himself the son of Indian immigrants, against the best…
I ended up in financial journalism by happenstance (it was pretty much the only corner of the media world that was still hiring when I graduated in the early 2000s). But I fell in love with it. To understand the world, you have to understand money. Whether you like it or not, it is the hidden wiring that binds us all together. I’ve found that reading history books on finance and economics has helped me better understand what is going on today, so I hope the books on this list will help you do the same.
A history of hedge funds might seem like a weird recommendation by someone who has written a paean to passive investing.
But my favourite books use a subject to tell a much broader story, and Mallaby’s definitive book on the hedge industry manages to show how even the most illustrious investing careers can fizzle out as market regimes ebb and flow.
The first book of its kind: a fascinating and entertaining examination of hedge funds today
Shortlisted for the Financial Times/Goldman Sachs Business Book of the Year Award
'An enormously satisfying book: a gripping chronicle of the cutting edge of the financial markets and a fascinating perspective on what was going on in these shadowy institutions as the crash hit' Observer
Wealthy, powerful, and potentially dangerous, hedge-find managers have emerged as the stars of twenty-first century capitalism. Based on unprecedented access to the industry, More Money Than God provides the first authoritative history of hedge funds. This is the inside story…
A Duke with rigid opinions, a Lady whose beliefs conflict with his, a long disputed parcel of land, a conniving neighbour, a desperate collaboration, a failure of trust, a love found despite it all.
Alexander Cavendish, Duke of Ravensworth, returned from war to find that his father and brother had…
As an experimental social psychologist, who has conducted years of empirical research on bullshitting behavior and bullshit detection, I’ve found compelling evidence that the worst outcomes of bullshit communications are false beliefs and bad decisions. I’m convinced that all of our problems, whether they be personal, interpersonal, professional, or societal are either directly or indirectly linked to mindless bullshit reasoning and communication. I’m just sick and tired of incompetent, bullshit artists who capitalize by repackaging and selling what I and other experimental psychologists do for free. It’s time the masses learn that some of us who actually do the research on the things we write about can actually do it better.
I found this book absolutely thrilling as a real-life story of one of the biggest bullshit busts in history. Bernie Madoff’s Ponzi scheme ran for almost 18 years without much concern or investigation by the U.S. Securities and Exchange Commission (SEC). But, Harry Markopolos, a little-known number cruncher from a Boston equity derivatives firm, was onto Madoff after looking at Madoff’s financial records, several years before the bust made headlines. Page by page, Markopolos details his pursuit of the greatest financial criminal in history, and reveals the massive fraud, governmental incompetence, and criminal collusion that has changed thousands of lives forever-as well as the world’s financial system. All the while, no one, including the SEC, would listen. As such, the book is the quintessential example of how spellbinding bullshit can be.
Harry Markopolos and his team of financial sleuths discuss first-hand how they cracked the Madoff Ponzi scheme No One Would Listen is the thrilling story of how the Harry Markopolos, a little-known number cruncher from a Boston equity derivatives firm, and his investigative team uncovered Bernie Madoff's scam years before it made headlines, and how they desperately tried to warn the government, the industry, and the financial press. Page by page, Markopolos details his pursuit of the greatest financial criminal in history, and reveals the massive fraud, governmental incompetence, and criminal collusion that has changed thousands of lives forever-as well…
My entire career has been spent in finance. From life insurance to central banks, from stock exchanges to post-trade clearing and settlement, this is all I’ve ever done. My college degrees include BSBA in Business/Marketing, MBA in Management, and PhD in Economics. In addition to knowing what a lot of people know about finance, I also worked inside the “black box” of the Federal Reserve System and depository trust and clearing corporations (in 4 cities, on 2 continents). Therefore, I know more about the plumbing of stock market infrastructure than most people who have careers (and education) as long as mine.
I started working at Depository Trust Company in New York in September 1987 – a month later the “Black Monday” stock market crash happened! At the time, it was very difficult to see exactly what caused it. “When you are up to your neck in alligators, it is hard to remember why you drained the swamp!” This book explains how Wall Street banks hatched all those alligator eggs by hiring MIT math-whizz-kids and turning them loose without explaining the simplest thing about the stock market to them. One of the errors in their models was that they did not take bank holidays into account when calculating the time value of stocks and option prices.
Inside markets, innovation, and risk Why do markets keep crashing and why are financial crises greater than ever before? As the risk manager to some of the leading firms on Wall Street-from Morgan Stanley to Salomon and Citigroup-and a member of some of the world's largest hedge funds, from Moore Capital to Ziff Brothers and FrontPoint Partners, Rick Bookstaber has seen the ghost inside the machine and vividly shows us a world that is even riskier than we think. The very things done to make markets safer, have, in fact, created a world that is far more dangerous. From the…
I have been writing for many years, and my main preference is writing political thrillers with criminal overtones inspired by everyday media headlines that expose worldwide government security leaks and corruption. I spent fifteen years in Washington State looking at a questionable political system. With a further eight years living in Cyprus, I studied the existing political divide of the population before meeting a successful whistle-blower, a banker, who went public about the fraudulent activity orchestrated by Russia to steal billions from a Latvian bank. My book mirrors his success wrapped up in fiction.
I found this an amazing story that started with one billionaire who almost got away with insider trading had it not been for the FBI, who would not let go of a long investigation. I was drawn in as soon as the book started to reveal not only the methods used to expand a hedge fund into billions of dollars from stock trading but how the multi billionaire Steven Cohen paid a record fine but was never charged with a criminal offence.
I give this author a high five for making the reader aware of what is going on in the financial world. Although I found this book more of a factual story/report, I highly recommend it as a fascinating look at ‘How the other half live.’
Nominated for the FT/McKinsey Business Book of the Year Nominated for the Carnegie Medal for Excellence in Nonfiction Amazon Top 5 Business Books of 2017
'A prodigious feat of reporting' - Malcolm Gladwell
'Black Edge has the grip of a thriller ... Everyone should read this book' - David Grann, New York Times bestselling author of THE LOST CITY OF Z
How do super-rich bankers get away with it?
There is a powerful new class of billionaire financiers in the world, who use their phenomenal wealth to write their own rules and laws. Chief among them is Steven Cohen, a…
The Duke's Christmas Redemption
by
Arietta Richmond,
A Duke who has rejected love, a Lady who dreams of a love match, an arranged marriage, a house full of secrets, a most unneighborly neighbor, a plot to destroy reputations, an unexpected love that redeems it all.
Lady Charlotte Wyndham, given in an arranged marriage to a man she…
After graduating from the University of Illinois in 1989 with an LAS degree in communications and a knack for artwork, I had no idea what I wanted to do. That was until my brother pulled me from my low-paid art job in Chicago to work as a clerk on the floor of the Chicago Mercantile Exchange. I eventually became a trader on that same floor, as well as an oil and gas dealer in New York. Screaming and yelling in the trading pits while money moved back and forth with a shout and a hand signal I learned more about investing, trading, and human nature through osmosis than I ever could in an MBA course.
This fascinating read tells the story of the rise and then spectacular fall of the once celebrated hedge fund Long-Term Capital Management.
What made LTCM so attractive to Wall Street investors was its stable of "dream team" quants and financial minds, led by the laconic John Merriweather. Merriweather (featured in the opening Chapter of Liar's Poker) was a former Solomon Brothers bond-trading guru, who after leaving the firm amid a scandal managed to assemble a team of financial powerhouses that included two Nobel Laureates as well as a cadre of respected traders.
From 1993 to 1997 LTCM's returns were first-rate; the sky seemed the limit for this small band of supertraders, professors, and modelers who arrogantly considered themselves a cut above the rest of The Street.
But in 1998, it all came crashing down...and right quick. Having believed their financial models could accurately predict price action not just in…
Picking up where Liar's Poker left off (literally, in the bond dealer's desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners.
Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street's brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold standard in investing. It was to be the hedge fund to end all other hedge funds: a…
After graduating from the University of Illinois in 1989 with an LAS degree in communications and a knack for artwork, I had no idea what I wanted to do. That was until my brother pulled me from my low-paid art job in Chicago to work as a clerk on the floor of the Chicago Mercantile Exchange. I eventually became a trader on that same floor, as well as an oil and gas dealer in New York. Screaming and yelling in the trading pits while money moved back and forth with a shout and a hand signal I learned more about investing, trading, and human nature through osmosis than I ever could in an MBA course.
A relatively new arrival on the list, Dreyfuss’s diligently crafted book is the most in-depth look at one of Wall Street’s most spectacular, if lesser-known, collapses in 2006.
The book takes us through the rise of two forces in energy trading embarking on a collision course that would be the ruin of one and an immense windfall of the other. Amaranth hedge fund was an up-and-comer and darling of the hedge fund space. Boasting stellar returns on its several billion in capital, it was able to raise massive sums to hand over to its wunderkind energy trading guru, the Canadian Brian Hunter.
Hunter had set out to dethrone John Arnold at Centaurus (the former Enron whiz kid and youngest member of the Forbes 400) as the biggest energy derivatives trader on the Street. Hunter’s ego soon got him into trouble when a series of disastrous and massively overleveraged bets collapsed,…
For readers of The Smartest Guys in the Room and When Genius Failed, the definitive take on Brian Hunter, John Arnold, Amaranth Advisors, and the largest hedge fund collapse in history
At its peak, hedge fund Amaranth Advisors LLC had more than $9 billion in assets. A few weeks later, it completely collapsed. The disaster was largely triggered by one man: thirty-two-year-old hotshot trader Brian Hunter. His high-risk bets on natural gas prices bankrupted his firm and destroyed his career, while John Arnold, his rival at competitor fund Centaurus, emerged as the highest-paid trader on Wall Street. Meticulously researched and…
I have been passionate about journalism since I was a teenager, when I became the co-editor of my high school newspaper. My career as a full-time journalist began decades ago, at a small family-owned newspaper in Berkshire County, Mass., and continued through staff writer positions at The Cape Cod Times, Providence Journal and now at OceanStateStories.org, the new non-profit news outlet based at Salve Regina University’s Pell Center in Newport, R.I., that I co-founded and now direct. So I have the long and inside view of American journalism!
In Storm Lake, published in 2018, Pulitzer-winning editor, publisher, and author Art Cullen writes with passion, insight and humor about immigration, family, community and the history and future of this part of Iowa – and, to an extent, much of America.
His family’s newspaper, the Storm Lake Times Pilot, serves as a model for local coverage and investigative reporting in an era when hedge funds and out-of-town chains have left many parts of the country without newspapers or with “ghost papers,” shells of their former selves.
"A reminder that even the smallest newspapers can hold the most powerful among us accountable."—The New York Times Book Review
Watch the documentary Storm Lake on PBS.
Iowa plays an outsize role in national politics. Iowa introduced Barack Obama and voted bigly for Donald Trump. But is it a bellwether for America, a harbinger of its future? Art Cullen’s answer is complicated and honest. In truth, Iowa is losing ground. The Trump trade wars are hammering farmers and manufacturers. Health insurance premiums and drug prices are soaring. That’s what Iowans are dealing with, and the problems they face are the…
This book follows the journey of a writer in search of wisdom as he narrates encounters with 12 distinguished American men over 80, including Paul Volcker, the former head of the Federal Reserve, and Denton Cooley, the world’s most famous heart surgeon.
In these and other intimate conversations, the book…
As a writer, wife, and mom, I love reading novels and memoirs about women who are navigating parenting, relationships, and careers simultaneously. My favorites are those that make me laugh out loud while presenting a relatable picture of all this juggling act entails. Smart and witty heroines who approach life with a can-do spirit and the ability to laugh at themselves as the world tosses one curveball after another their way capture my heart every time.
Hedge fund manager Kate Reddy is keeping plenty of plates spinning while struggling to maintain her sanity as a mom and make it in “a man’s world.” For some, a day in Kate’s life might be anxiety-inducing (hence the title!), but for those who’ve lived it, it’s maddeningly accurate.
I read this novel before work-life balance became a popular catchphrase, and as much as we may think society has evolved, Kate’s day-to-day is probably still far more relatable than it should be.
A victim of time famine, thirty-five-year-old Kate counts seconds like other women count calories. As she runs between appointments, through her head spools the crazy tape-loop of every high-flying mother's life- client reports, bouncy castles, Bob The Builder, transatlantic phone calls, dental appointments, pelvic floor exercises, flights to New York, sex (too knackered), and stress-busting massages she always has to cancel (too busy). Factor in a controlling nanny, a chauvinist Australian boss, a long-suffering husband, two demanding children and an e-mail lover, and you have a woman juggling so many balls that some day soon something's going to hit the…
