Absolute Returns: The Risk and Opportunities of Hedge Fund Investing
Alexander M. Ineichen
Superb, clear view of the realities in the hedge fund world as opposed to the general biases that linger
Against The Gods
Peter L. Bernstein
The development and rationale behind behavioral finance -- basic reading for any one in investing
Barbarians at the Gate
Burrough and Helyar
The classic saga of the RJR LBO… says as much about Wall Street as anything
Buffett: The Making of an American Capitalist
by Roger Lowenstein
A sensational review of Buffett's life and various stages of his investment and personal life. We learn of his departure from his mentor Benjamin Graham. We also see the consistency in how he applied his thinking in different times and situations.
Done Deals
Udayan Gupta
Tribute to venture capital heroes of the past several decades
e Boys
Randall E. Stross
Venture capital diary of Benchmark… interesting but not compelling here in 2005
Engines That Move Markets
Alasdair Nairn
Superb superb history of tech manias and a near must-read for anyone wanting to invest in hyper growth markets… probably a tad too much detail for some readers but not me
Extraordinary Popular Delusions & the Madness of Crowds & Confusion on de Confusionses
Charles Mackay & Joseph De la Vega
CLASSIC… for every investor that thinks hyperbolic mkts can last -- they can't
Fooled By Randomness
Nassim Nicholas Taleb
Spotting and taking advantage of when "common wisdom" is just flat-out wrong
Foundation and Endowment Investing:Philosophies and Strategies of Top Investors and Institutions
by Lawrence
E. Kochard
and Cathleen M. Rittereiser
Below is part of the note i forwarded to one of the co-authors... From the title you might be surprised that this was one of the fastest reads of the year for me even though it wasn't Sci-Fi... Maybe it is because i love biographies nearly as much as Sci-Fi... Pip
Just finished... That was great
Don Lindsey sounds like he could be my twin brother! Yikes!
I also loved Dan Kingston and Scott Malpass
My copy is now fully rabbit-eared and i will likely loan to david harvey.
What stands out perhaps most in hearing the stories is the quality of the people and values... It may seem strange (or obvious) but having grown up in the cut throat world of wall street and still moving in and out of that culture (but today in a way that works) i am so grateful when i meet people who manifest their core values everyday. Wall Street has a terrible culture in my view where values tend to degenerate and so many people are lulled into steadily trading their values that create integrity for anything else. Odd but notable and sad.
It has been so fun and uplifting to have started building a business filled with not only very talented elite clients but those who are grounded in deep beliefs about how they wish to have their business reflect their values... And effortlessly... And so successfully."
Intelligent Investor
Benjamin Graham
One of the key investment thought pieces of all time… would be good required reading as opposed to the CFA exam
Introduction to Logic
Irviing M. Copi
Building blocks for clear thinking which some of the time helps in investing :)
Judgement under uncertainty: Heuristics and biases
Edited by: Daniel Kahneman, Paul Slovic Amos Tversky
Dan Kahneman worked on behavioral psychology for 30+ years and then the mainstream recognized the huge hole his thinking could fill -- won the Nobel prize in economics
Liars Poker
Michael Lewis
The culture of Wall Street during the 1980s… yuck
One Up on Wall Street
Peter Lynch
Basic reading for positive fundamental change pursuants.. Surprising there aren't more of us
Origin of Wealth: Evolution, Complexity, and the Radical Remaking of
Economics
Eric D. Beinhocker
As close to required reading for our group as there may ever be.... The book
dives into every nook and cranny of the critical building blocks of society,
economy, business and investing in an efficient 454 pages. A great great work.
(2006). Will probably be up there w Germs, Guns and Steel as well as The Clash
of Civilizations as a core part of understanding our multi-faceted world
Principals of Corporate Finance
Brealey and Myers
Sits at the side of many investors as a key referenced checked out every few years for one reason or another
Running Money
Andy Kessler
A glimpse of investing in the 1996-2001 period but more importantly a book about investing in the major changes transforming economies and societies... Written in basic english thankfully :)
Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages
Carlota Perez
Once I got over the tendency of an economist think that there were very specific cycles in which technological change takes place and I got over the tendency of the author to think of simple casual relationships in what we see as a sea of complexity.... Well, after that we saw a tremendous amount of insight in this piece.
The Alchemy of Finance:Reading the Mind of the Market
George Soros
Superb book filled with insight upon insight and the composition of his theory of reflexivity is set out. The theory says that because markets are the result of human decisions and because humans are affected in their actions by what they observer and by what their observers observes a number of complex factors must be taken into account. The book also provides a Soros diary during a six month period of his trading. Very interesting
The Art of the Start
Guy Kawasaki
Superb book about practical business sense organized as a simple easy-to-understand flip thru. Outstanding for those creating or investing in start-ups
The Big Tech Score
Mike Kwatinetz
Sell-side analyst discusses what works in tech investing
The Essential Buffett: Timeless Principles for the New Economy Robert G. Hagstrom Jr.
Every time I spend time deeply thinking about and reminding myself of Warren Buffett's simple ideas about studying businesses and making investments I wonder a couple things: Why don't I review this work more often? Why do I get sucked into thinking investing has to be complicated? I also see why Warren Buffett is so admired for his results and simplicity but so rarely actually followed.... It is very easy to day trade (albeit unsuccessfully) but it takes dedication to be in a position to benefit from his simple wisdom and to enact his process. While more and more will show up to Omaha to meet the rock star of investing I unfortunately see no threat that more than a sliver of society will choose Buffett's way when all the cultural forces press in the opposite direction.
The Gorilla Game
Geoffrey Moore
Geoffrey Moore steps into investing -- not on par with his other master pieces
The Little Book that Beats the Market
Joel Greenblatt
A lot of sage advice from a stock market genius whose genius seems to circle around insuring he keeps his stock picking and portfolio management simple!
The Tao Jones Averages
Bennett W. Goodspeed
Right and left brain thinking… the shortest required reading one would ever imagine