These are books Wall Street's smartest people think you should read this summer
Reminiscences of a Stock Operator
![These are books Wall Street's smartest people think you should read this summer](/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-47557601%2Cwidth-700%2Cheight-525%2Cimgsize-41211%2Freminiscences-of-a-stock-operator.jpg&w=3840&q=75)
Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined
![Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined](https://staticbiassets.in/thumb/msid-47557602,width-700,height-525,imgsize-428462/efficiently-inefficient-how-smart-money-invests-and-market-prices-are-determined.jpg)
Author: Lasse Heje Pedersen
Description: "Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't."
Recommended by: Torsten Slok, Chief International Economist at Deutsche Bank
Adventures in Muniland 2009-2015
![Adventures in Muniland 2009-2015](https://staticbiassets.in/thumb/msid-47557603,width-700,height-525,imgsize-46959/adventures-in-muniland-2009-2015.jpg)
Author(s):Michael Comes, David R Kotok and John R Mousseau
Description: "With a perspective that only decades of experience can bring, Adventures in Muniland captures the municipal bond market's transformation from stodgy to dynamic. This concise, yet comprehensive stroll offers an insider's view, brings the reader right up to today's discussions, and carries the added benefit of providing a clear understanding of what can at times appear to be an opaque marketplace. The Cumberland team has produced an insightful review for the seasoned professional and a must read for newcomers and investors."
Recommended by: David Kotok, CIO of Cumberland Advisors
Give and Take: Why Helping Others Drives Our Success
![Give and Take: Why Helping Others Drives Our Success](https://staticbiassets.in/thumb/msid-47557605,width-700,height-525,imgsize-29877/give-and-take-why-helping-others-drives-our-success.jpg)
Author(s): Adam Grant
Description: "Grant shows how one of America's best networkers developed his connections, why the creative genius behind one of the most popular shows in television history toiled for years in anonymity, how a basketball executive responsible for multiple draft busts transformed his franchise into a winner, and how we could have anticipated Enron's demise four years before the company collapsed--without ever looking at a single number."
Recommended by: Dave Seaburg, managing director and head of sales trading at Cowen and Company
One Up On Wall Street: How To Use What You Already Know To Make Money In The Market
![One Up On Wall Street: How To Use What You Already Know To Make Money In The Market](https://staticbiassets.in/thumb/msid-47557606,width-700,height-525,imgsize-636496/one-up-on-wall-street-how-to-use-what-you-already-know-to-make-money-in-the-market.jpg)
Author(s): Peter Lynch with John Rothchild
Description: "America’s most successful money manager tells how average investors can beat the pros by using what they know. According to Lynch, investment opportunities are everywhere. From the supermarket to the workplace, we encounter products and services all day long. By paying attention to the best ones, we can find companies in which to invest before the professional analysts discover them. When investors get in early, they can find the “tenbaggers,” the stocks that appreciate tenfold from the initial investment. A few tenbaggers will turn an average stock portfolio into a star performer."
Recommended by: Gary Kaminisky, Executive at Morgan Stanley
Misbehaving: The Making of Behavioral Economics
![Misbehaving: The Making of Behavioral Economics](https://staticbiassets.in/thumb/msid-47557607,width-700,height-525,imgsize-292275/misbehaving-the-making-of-behavioral-economics.jpg)
Author(s): Richard H. Thaler
Description: "Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber. Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking,Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining."
Recommended by: Barry Ritholtz, CIO of Ritholtz Wealth Management
Bringing Down the House: The Inside Story of Six MIT Students Who Took Vegas for Millions
![Bringing Down the House: The Inside Story of Six MIT Students Who Took Vegas for Millions](https://staticbiassets.in/thumb/msid-47557608,width-700,height-525,imgsize-51544/bringing-down-the-house-the-inside-story-of-six-mit-students-who-took-vegas-for-millions.jpg)
Author(s): Ben Mezrich
Description: "The best and the brightest of M.I.T.’s math students and engineers take up blackjack under the guidance of an eccentric mastermind. Their small blackjack club develops from an experiment in counting cards on M.I.T.’s campus into a ring of card savants with a system for playing large and winning big. In less than two years they take some of the world’s most sophisticated casinos for more than three million dollars. But their success also brings with it the formidable ire of casino owners and launches them into the seedy underworld of corporate Vegas."
Recommended by: Gary Kaminisky, Executive at Morgan Stanley
These are books Wall Street's smartest people think you should read this summer
![These are books Wall Street](https://staticbiassets.in/thumb/msid-47557610,width-700,height-525,imgsize-37257/these-are-books-wall-streets-smartest-people-think-you-should-read-this-summer.jpg)
Author(s): Maury Harris
Description: "In Inside the Crystal Ball: How to Make and Use Forecasts, UBS Chief U.S. Economist Maury Harris helps readers improve their own forecasting abilities by examining the elements and processes that characterize successful and failed forecasts."
Recommended by: Marty Fridson, financial writer and author of "How to Be a Billionaire"
The Fate of the Edsel and Other Business Adventures
![The Fate of the Edsel and Other Business Adventures](https://staticbiassets.in/thumb/msid-47557612,width-700,height-525,imgsize-56672/the-fate-of-the-edsel-and-other-business-adventures.jpg)
Author(s): John Brooks
Description: "John Brooks (1920–1993) was an award-winning writer best known for his contributions to the New Yorker as a financial journalist. He was also the author of ten nonfiction books on business and finance, a number of which were critically acclaimed works examining Wall Street and the corporate world. His books Once in Golconda, The Go-Go Years, and Business Adventures have endured as classics." (from Goodreads)
Recommended by: Art Cashin, UBS Director of Floor Operations at the NYSE
Barbarians at the Gate: The Fall of RJR Nabisco
![Barbarians at the Gate: The Fall of RJR Nabisco](https://staticbiassets.in/thumb/msid-47557614,width-700,height-525,imgsize-293185/barbarians-at-the-gate-the-fall-of-rjr-nabisco.jpg)
Author(s): Bryan Burrough and John Helyar
Description: "Barbarians at the Gate is the classic account of the fall of RJR Nabisco. An enduring masterpiece of investigative journalism by Bryan Burrough and John Helyar, it includes a new afterword by the authors that brings this remarkable story of greed and double-dealings up to date twenty years after the famed deal."
Recommended by: Gary Kaminisky, Executive at Morgan Stanley
Once in Golconda: A True Drama of Wall Street 1920-1928
![Once in Golconda: A True Drama of Wall Street 1920-1928](https://staticbiassets.in/thumb/msid-47557615,width-700,height-525,imgsize-27997/once-in-golconda-a-true-drama-of-wall-street-1920-1928.jpg)
Author(s): John Brooks
Description: "John Brooks-who was one of the most elegant of all business writers-perfectly catches the flavor of one of history's best-known financial dramas: the 1929 crash and its aftershocks. It's packed with parallels and parables for the modern reader." -From the Foreword by Richard Lambert Editor-in-Chief, The Financial Times Once in Golconda is a dramatic chronicle of the breathtaking rise, devastating fall, and painstaking rebirth of Wall Street in the years between the wars. Focusing on the lives and fortunes of some of the era's most memorable traders, bankers, boosters, and frauds, John Brooks brings to vivid life all the ruthlessness, greed, and reckless euphoria of the '20s bull market, the desperation of the days leading up to the crash of '29, and the bitterness of the years that followed."
Recommended by: Art Cashin, UBS Director of Floor Operations at the NYSE
Only Yesterday: An Informal History of the 1920s
![Only Yesterday: An Informal History of the 1920s](https://staticbiassets.in/thumb/msid-47557616,width-700,height-525,imgsize-58837/only-yesterday-an-informal-history-of-the-1920s.jpg)
Author(s): Fredrick Lewis Allen
Description: "Only Yesterday traces the rise if post-World War I prosperity up to the Wall Street crash of 1929 against the colorful backdrop of flappers, speakeasies, the first radio, and the scandalous rise of skirt hemlines. Hailed as an instant classic, this is Frederick Lewis Allen's vivid and definitive account of one of the twentieth century's most fascinating decades, chronicling a time of both joy and terror--when dizzying highs were quickly succeeded by heartbreaking lows."
Recommended by: Art Cashin, UBS Director of Floor Operations at the NYSE
Extraordinary Popular Delusions & the Madness of Crowds
![Extraordinary Popular Delusions & the Madness of Crowds](https://staticbiassets.in/thumb/msid-47557617,width-700,height-525,imgsize-36214/extraordinary-popular-delusions-the-madness-of-crowds.jpg)
Author(s): Charles MacKay
Description: "Whenever struck by campaigns, fads, cults and fashions, the reader may take some comfort that Charles Mackay can demonstrate historical parallels for almost every neurosis of our times. The South Sea Bubble, Witch Mania, Alchemy, the Crusades, Fortune-telling, Haunted Houses, and even 'Tulipomania' are only some of the subjects covered in this book, which is given a contemporary perspective through Professor Norman Stone's lively new Introduction."
Recommended by: Art Cashin, UBS Director of Floor Operations at the NYSE
Ugly Americans: The True Story of the Ivy League Cowboys Who Raided the Asian Markets for Millions
![Ugly Americans: The True Story of the Ivy League Cowboys Who Raided the Asian Markets for Millions](https://staticbiassets.in/thumb/msid-47557618,width-700,height-525,imgsize-41260/ugly-americans-the-true-story-of-the-ivy-league-cowboys-who-raided-the-asian-markets-for-millions.jpg)
Author(s): Ben Mezrich
Description: "Malcolm and his Ivy League-schooled twenty-something colleagues, with their warped sense of morality, created their own economic theory that would culminate in a single deal the likes of which had never been seen before—or since.
Ugly Americans is a story of extremes, charged with wealth, nerve, excess, and glamour. A real-life mixture of Liar's Poker and Wall Street, brimming with intense action, romance, underground sex, vivid locales, and exotic characters, Ugly Americans is the untold true story that rocked the financial community."
Recommended by: Gary Kaminisky, Executive at Morgan Stanley
Strategy in Poker, Business & War
![Strategy in Poker, Business & War](https://staticbiassets.in/thumb/msid-47557619,width-700,height-525,imgsize-27705/strategy-in-poker-business-war.jpg)
Author(s): John McDonald
Description: Whether your primary interest is to improve your card game or put together a political coalition, here you will be enjoyably instructed in an approach to strategy that has caught the imagination of a generation of readers.
John McDonald looks at the elusive thread of opposition and conflict that runs through human interrelationships, from the striking of a bargain to the clash of war. He discusses poker; game theory, as it applies to games but mainly to business; the strategies of buyers and sellers; and finally military and other applications."
Recommended by: Art Cashin, UBS Director of Floor Operations at the NYSE
The Money Game
![The Money Game](https://staticbiassets.in/thumb/msid-47557620,width-700,height-525,imgsize-41076/the-money-game.jpg)
Author(s): Peter Lynch with John Rothchild
Description: "Adam Smith' is a veteran observer and commentator on the events and people of Wall Street.... His thorough knowledge of financial affairs gives his observations a great degree of authenticity. But the joy of reading this book comes from his delightful sense of humor. He is a lively and ingeniously witty writer who never stoops to acerbity. None of the solemn, sacred cows of Wall Street escapes debunking." —Library Journal
Recommendation: "The Money Game by Adam Smith is a must read." -Rich Barry, NYSE floor governor for the Intercontinental Exchange
Where Are the Customers' Yachts: or A Good Hard Look at Wall Street
![Where Are the Customers](https://staticbiassets.in/thumb/msid-47557622,width-700,height-525,imgsize-50406/where-are-the-customers-yachts-or-a-good-hard-look-at-wall-street.jpg)
Author(s): Fred Schwed Jr.
Description: "Humorous and entertaining, this book exposes the folly and hypocrisy of Wall Street. The title refers to a story about a visitor to New York who admired the yachts of the bankers and brokers. Naively, he asked where all the customers' yachts were? Of course, none of the customers could afford yachts, even though they dutifully followed the advice of their bankers and brokers. Full of wise contrarian advice and offering a true look at the world of investing, in which brokers get rich while their customers go broke, this book continues to open the eyes of investors to the reality of Wall Street."
Recommended by: Richard Bernstein of Richard Bernstein Advisors - "Written in the 1920s, if I remember correctly, but very applicable to today’s world of 2&20."
Crash of the Titans: Greed, Hubris, the Fall of Merrill Lynch, and the Near-Collapse of Bank of America
![Crash of the Titans: Greed, Hubris, the Fall of Merrill Lynch, and the Near-Collapse of Bank of America](https://staticbiassets.in/thumb/msid-47557623,width-700,height-525,imgsize-41310/crash-of-the-titans-greed-hubris-the-fall-of-merrill-lynch-and-the-near-collapse-of-bank-of-america.jpg)
Author(s): Greg Farrell
Description: "Merrill Lynch was an icon. Its sudden decline, collapse, and sale to Bank of America was a shock. How did it happen? Why did it happen? And what does this story of greed, hubris, and incompetence tell us about the culture of Wall Street that continues to this day even though it came close to destroying the American economy? A culture in which the CEO of a firm losing $28 billion pushes hard to be paid a $25 million bonus. A culture in which two Merrill Lynch executives are guaranteed bonuses of $30 million and $40 million for four months’ work, even while the firm is struggling to reduce its losses by firing thousands of employees."
Recommended by: Dan Nathan, Co-Founder and Editor, RiskReversal.com
Liar's Poker
![Liar](https://staticbiassets.in/thumb/msid-47557625,width-700,height-525,imgsize-38311/liars-poker.jpg)
Author(s): Michael Lewis
Description: "Liar’s Poker is the culmination of those heady, frenzied years—a behind-the-scenes look at a unique and turbulent time in American business. From the frat-boy camaraderie of the forty-first-floor trading room to the killer instinct that made ambitious young men gamble everything on a high-stakes game of bluffing and deception, here is Michael Lewis’s knowing and hilarious insider’s account of an unprecedented era of greed, gluttony, and outrageous fortune."
Recommended by: Dan Nathan, Co-Founder and Editor, RiskReversal.com
Martin Zweig's Winning on Wall Street
![Martin Zweig](https://staticbiassets.in/thumb/msid-47557626,width-700,height-525,imgsize-44374/martin-zweigs-winning-on-wall-street.jpg)
Author(s): Martin Zweig
Description: "Arthur Zweig is the publisher of the influential, trend-spotting Zweig Forecast. Now in this new edition Zweig adds the latest numbers to his classic investment primer and evaluates their impact on the challenging market at the turn of the century."
Recommendation: "These were the books I was TOLD to read by the guy I first worked for at SAC." - Dan Nathan, Co-Founder and Editor, RiskReversal.com
Market Wizards: Interviews with Mark Weinstein, High-Percentage Trader and Brian Gelber, Broken Turned Trader
![Market Wizards: Interviews with Mark Weinstein, High-Percentage Trader and Brian Gelber, Broken Turned Trader](https://staticbiassets.in/thumb/msid-47557627,width-700,height-525,imgsize-65013/market-wizards-interviews-with-mark-weinstein-high-percentage-trader-and-brian-gelber-broken-turned-trader.jpg)
Author(s): Jack D. Schwager
Description: "Market expert Jack D. Schwager interviews top traders in a variety of markets and determines that an interesting mix of method and mental posture is largely responsible, and presents Market Wizards in a way that allows the listener a glimpse into the minds of these most remarkable traders. Understand what it takes to succeed, and hear it in the words of the Market Wizards themselves."
Recommended by: Thomas Lee, Head of Research at Fundstrat Global Advisors; Drew Matus, managing director and senior US Economist at UBS Investment Bank
The Hundred-Year Marathon: China's Secret Strategy to Replace America as the Global Superpower
![The Hundred-Year Marathon: China](https://staticbiassets.in/thumb/msid-47557628,width-700,height-525,imgsize-212829/the-hundred-year-marathon-chinas-secret-strategy-to-replace-america-as-the-global-superpower.jpg)
Author(s): Michael Pillsbury
Description: One of the U.S. government's leading China experts reveals the hidden strategy fueling that country's rise - and how Americans have been seduced into helping China overtake us as the world's leading superpower.
For more than forty years, the United States has played an indispensable role helping the Chinese government build a booming economy, develop its scientific and military capabilities, and take its place on the world stage, in the belief that China's rise will bring us cooperation, diplomacy, and free trade. But what if the "China Dream" is to replace us, just as America replaced the British Empire, without firing a shot?"
Recommended by: Byron Wien, vice chairman of Blackstone Advisory Partners LP
Investing: The Last Liberal Art
![Investing: The Last Liberal Art](https://staticbiassets.in/thumb/msid-47557629,width-700,height-525,imgsize-128881/investing-the-last-liberal-art.jpg)
Author(s): Robert G. Hagstrom
Description: "Hagstrom takes examples from history, literature and science to demonstrate how important it is to be a ell-rounded individual when attempting to find success in the market. Borrowing the "latticework of mental models" concept from Charlie Munger, the book hops from subject to subject and neatly ties up each into a teachable lesson for investors. This is a great, easy to read book for investors and traders of all levels of skill and experience."
Recommended by: Josh Brown, CEO at Ritholtz Wealth Management
Wealth and Wisdom: Timeless Quotations and Comments about Money and Investing
![Wealth and Wisdom: Timeless Quotations and Comments about Money and Investing](https://staticbiassets.in/thumb/msid-47557630,width-700,height-525,imgsize-18513/wealth-and-wisdom-timeless-quotations-and-comments-about-money-and-investing.jpg)
Author(s): George McAuliffe
Description: "Wealth & Wisdom is for sensible people interested in wealth, appreciative of good quotations, and seeking clear commentary and advice. There are no graphs, formulas, higher mathematics, or shortcuts; just common sense, for that is all you really need to wisely invest."
Recommended by: Dave Lutz, Managing director and branch office manager at Jones Trading
The Killer Angels: The Classic Novel of the Civil War (Civil War Trilogy)
![The Killer Angels: The Classic Novel of the Civil War (Civil War Trilogy)](https://staticbiassets.in/thumb/msid-47557631,width-700,height-525,imgsize-47261/the-killer-angels-the-classic-novel-of-the-civil-war-civil-war-trilogy.jpg)
Author(s): Michael Shaara
Description: "In the four most bloody and courageous days of our nation’s history, two armies fought for two conflicting dreams. One dreamed of freedom, the other of a way of life. Far more than rifles and bullets were carried into battle. There were memories. There were promises. There was love. And far more than men fell on those Pennsylvania fields. Bright futures, untested innocence, and pristine beauty were also the casualties of war. Michael Shaara’s Pulitzer Prize–winning masterpiece is unique, sweeping, unforgettable—the dramatic story of the battleground for America’s destiny."
Recommended by: Dave Lutz, Managing director and branch office manager at Jones Trading
Hell's Angels: A Strange and Terrible Saga
![Hell](https://staticbiassets.in/thumb/msid-47557632,width-700,height-525,imgsize-1062482/hells-angels-a-strange-and-terrible-saga.jpg)
Author(s): Hunter S. Thompson
Description: "In the mid-1960s, Thompson spent almost two years living with the controversial An-gels, cycling up and down the coast, reveling in the anarchic spirit of their clan, and, as befits their name, raising hell. His book successfully captures a singular moment in American history, when the biker lifestyle was first defined, and when such counter cultural movements were electrifying and horrifying America.."
Recommended by: Dave Lutz, Managing director and branch office manager at Jones Trading
Sous Chef: 24 Hours on the Line
![Sous Chef: 24 Hours on the Line](https://staticbiassets.in/thumb/msid-47557633,width-700,height-525,imgsize-39450/sous-chef-24-hours-on-the-line.jpg)
Author(s): Michael Gibney
Description: "The back must slave to feed the belly. . . . In this urgent and unique book, chef Michael Gibney uses twenty-four hours to animate the intricate camaraderie and culinary choreography in an upscale New York restaurant kitchen. Here readers will find all the details, in rapid-fire succession, of what it takes to deliver an exceptional plate of food—the journey to excellence by way of exhaustion."
Recommended by: Dave Lutz, Managing director and branch office manager at Jones Trading
The Unthinkable: Who Survives When Disaster Strikes - and Why
![The Unthinkable: Who Survives When Disaster Strikes - and Why](https://staticbiassets.in/thumb/msid-47557634,width-700,height-525,imgsize-28353/the-unthinkable-who-survives-when-disaster-strikes-and-why.jpg)
Author(s): Amanda Ripley
Description: Today, nine out of ten Americans live in places at significant risk of earthquakes, hurricanes, tornadoes, terrorism, or other disasters. Tomorrow, some of us will have to make split-second choices to save ourselves and our families. How will we react? What will it feel like? Will we be heroes or victims?
In her quest to answer these questions, award-winning journalist Amanda Ripley traces human responses to some of recent history’s epic disasters, from the explosion of the Mont Blanc munitions ship in 1917–one of the biggest explosions before the invention of the atomic bomb–to the journeys of the 15,000 people who found their way out of the World Trade Center on September 11, 2001."
Recommended by: Drew Matus, managing director and senior US Economist at UBS Investment Bank
The Android's Dream
![The Android](https://staticbiassets.in/thumb/msid-47557636,width-700,height-525,imgsize-35193/the-androids-dream.jpg)
Author(s): John Scalzi
Description: A human diplomat creates an interstellar incident when he kills an alien diplomat in a most…unusual…way. To avoid war, Earth's government must find an equally unusual object: A type of sheep ("The Android's Dream"), used in the alien race's coronation ceremony.
To find the sheep, the government turns to Harry Creek, ex-cop, war hero and hacker extraordinaire, who with the help of Brian Javna, a childhood friend turned artificial intelligence, scours the earth looking for the rare creature. And they find it, in the unknowing form of Robin Baker, pet store owner, whose genes contain traces of the sheep DNA."
Recommended by: Drew Matus, managing director and senior US Economist at UBS Investment Bank
Unbroken: A World War II Story of Survival, Resilience, and Redemption
![Unbroken: A World War II Story of Survival, Resilience, and Redemption](https://staticbiassets.in/thumb/msid-47557637,width-700,height-525,imgsize-47059/unbroken-a-world-war-ii-story-of-survival-resilience-and-redemption.jpg)
Author(s): Laura Hillenbrand
Description: "The back must slave to feed the belly. . . . In this urgent and unique book, chef Michael Gibney uses twenty-four hours to animate the intricate camaraderie and culinary choreography in an upscale New York restaurant kitchen. Here readers will find all the details, in rapid-fire succession, of what it takes to deliver an exceptional plate of food—the journey to excellence by way of exhaustion."
Recommended by: Dave Lutz, Managing director and branch office manager at Jones Trading
Don't Stop the Carnival
![Don](https://staticbiassets.in/thumb/msid-47557638,width-700,height-525,imgsize-26802/dont-stop-the-carnival.jpg)
Author(s): Herman Wouk
Description: It's every parrothead's dream: to leave behind the rat race of the workaday world and start life all over again amidst the cool breezes, sun-drenched colors, and rum-laced drinks of a tropical paradise.
It's the story of Norman Paperman, a New York City press agent who, facing the onset of middle age, runs away to a Caribbean island to reinvent himself as a hotel keeper. (Hilarity and disaster -- of a sort peculiar to the tropics -- ensue.)"
Recommended by: Dave Lutz, Managing director and branch office manager at Jones Trading
Running Scared: The Life and Treacherous Times of Las Vegas Casino King Steve Wynn
![Running Scared: The Life and Treacherous Times of Las Vegas Casino King Steve Wynn](https://staticbiassets.in/thumb/msid-47557639,width-700,height-525,imgsize-42464/running-scared-the-life-and-treacherous-times-of-las-vegas-casino-king-steve-wynn.jpg)
Author(s): John L. Smith
Description: "Steve Wynn is the former owner of the Bellagio — Las Vegas's latest monument to conspicuous consumption whose hotel and casino contain over $300 million in fine art and $1.5 billion in Wall Street money. He's a mogul whose empire at one point included the Mirage, the Golden Nugget, and Treasure Island. But how did he gain and wield his tremendous power in Nevada? And why did a confidential Scotland Yard report prevent him from opening a casino in London? "
Recommended by: Jason N. Ader, Senior Managing Director at Bear Stearns & Co.
Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets
![Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets](https://staticbiassets.in/thumb/msid-47557641,width-700,height-525,imgsize-20927/fooled-by-randomness-the-hidden-role-of-chance-in-life-and-in-the-markets.jpg)
Author(s): Nassim Nicholas Taleb
Description: "A standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand... This book is about luck: more precisely how we perceive luck in our personal and professional experiences. Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill–the world of business– 'Fooled by Randomness' is an irreverent, iconoclastic, eye-opening, and endlessly entertaining exploration of one of the least understood forces in all of our lives."
Recommended by: Dan Nathan, Co-Founder and Editor, RiskReversal.com
When Genius Failed: The Rise and Fall of Long-Term Capital Management
![When Genius Failed: The Rise and Fall of Long-Term Capital Management](https://staticbiassets.in/thumb/msid-47557643,width-700,height-525,imgsize-42048/when-genius-failed-the-rise-and-fall-of-long-term-capital-management.jpg)
Author(s): Roger Lowenstein
Description: "In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall."
Recommended by: Dan Nathan, Co-Founder and Editor, RiskReversal.com
An Empire of Wealth: The Epic History of American Economic Power
![An Empire of Wealth: The Epic History of American Economic Power](https://staticbiassets.in/thumb/msid-47557644,width-700,height-525,imgsize-50704/an-empire-of-wealth-the-epic-history-of-american-economic-power.jpg)
Author(s): John Steele Gordon
Description: "Throughout time, from ancient Rome to modern Britain, the great empires built and maintained their domination through force of arms and political power. But not the United States. America has dominated the world in a new, peaceful, and pervasive way - through the continued creation of staggering wealth. In this authoritative, engrossing history, John Steele Gordon captures as never before the true source of our nation's global influence: wealth and the capacity to create more of it."
Recommended by: David Bianco, chief U.S. equity strategist at Deutsche Bank AG
Puzzles of Finance: Six Practical Problems and Their Remarkable Solutions
![Puzzles of Finance: Six Practical Problems and Their Remarkable Solutions](https://staticbiassets.in/thumb/msid-47557645,width-700,height-525,imgsize-44557/puzzles-of-finance-six-practical-problems-and-their-remarkable-solutions.jpg)
Author(s): Mark P. Kritzman
Description: "Mark Kritzman presents the reader with an entertaining way of learning some serious finance." -Harry Markowitz Nobel Prize Recipient, 1990, Economic Sciences President, Harry Markowitz Company Six challenging questions ... six entertaining solutions, profound yet straightforward, and relevant to the everyday challenge of investing and investment management. Puzzles of Finance takes on today's most persistently challenging financial questions and, through clever examples and just plain logic, helps you move beyond those questions to arrive at a deeper understanding of finance and the daily management of money. From Siegel's Paradox ("Is it possible to profit from asymmetry of exchange rate changes?") to questions of option value ("Why is the value of an option unaffected by the underlying asset's expected return?"), Puzzles of Finance goes beyond vague theoretical suppositions to supply practical, concrete solutions that investors and money managers can benefit from every day. "
Recommended by: David Bianco, chief U.S. equity strategist at Deutsche Bank AG
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