Recommended Reading

I’ve had a request for a list of recommended reading, and here are a few pieces I’ve enjoyed pertaining to finance:

• Barbarians at the Gate- Bryan Burrough and John Helyar
  Often touted as one of the most influential finance novels out there, this account of the LBO takeover of RJR Nabisco is a page-turner. You won’t find a more interesting (or well-researched) book about leveraged buyouts. The story is laid out through a series of interviews, dialogues, and personal accounts by the major players in this deal.
• Liar’s Poker- Michael Lewis
  An autobiographical account of Lewis’s experience of becoming hired by Salomon Brothers as a bond trader, and the history of the company and mortgage-backed securities. Gives a “Law of the Jungle” view of Wall Street in the 1980s.
• When Genius Failed- Roger Lowenstein
  The story of the failure of Long Term Capital Management, a hedge fund started by John Meriwether. Meriwether previously had a career at Salomon Brothers as the head of the fixed income desk. This book outlines the investments moves that eventually killed this fund.
• Bringing Down the House-Ben Mezrich
  A true story of a group of MIT students who won millions of dollars gambling in a period of four years, using math strategies and card counting to win. A fascinating read.
• The Predators’ Ball- Connie Bruck
  A story of the junk-bond trader Michael Milken at Drexel Burnham and his rise and fall at the hands of the US government. Caught for insider trading and stock fraud, this book gives you a glimpse of the greedy world of Wall Street in the 1980s.
• The Millionaire Mind- Thomas Stanley (about entrepreneurship and the psychology behind the lifestyles of the wealthy)
  I enjoyed this book immensely- it was interesting to learn what the top income-producing households in this country did to earn their wealth and exactly how they spent it (and why!) One of the most interesting facts was that most millionaire entrepreneurs had an SAT score lower than 1300.