Most business books are rubbish. There are a few that are worth a read. Here’s a selection of what I would recommend.
Where are all the customers’ yachts? by Fred Schwed.
This is a classic. It shows that nothing changes in Finance. The title is based on a story that a visitor to Wall Street was being shown round and when the brokers yachts were pointed out to him asked ‘where are all the customers yachts?’ It is a bit dated as a read (and quite American), but the lessons are still sound.
Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Taleb
Taleb is honest as a trader in that much success is based on chance. He challenges may of the assumptions of the establishment (and upset many people on the way!). A good read.
A Random Walk Down Wall Street
Another classic book first published in 1973. Now revised and updated it includes topics such as behavioural finance. The philosophy of buying and holding index funds rather than active funds or individual stocks seems to hold true today.
Liar’s Poker
An insight of a young mans journey from college to Wall Street. Much of what he says is revealing about the culture that still exists in banking and finance. It’s certainly still true of the city of London.
Bankrupt! The BCCI Fraud
What happened is much like the plot of a film. It’s hard to believe that this is all true. A real showcase of greed and corruption. Drugs, sex, dictators and arms dealers – this is a classic scandal – it really has it all!
Smarter Investing
Tim Hale speaks a lot of sense.
Monkey with a Pin
Excellent insight and experience from an ordinary investor with extraordinary insights. Free E-Book available here
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What's it's like being a trader and what they know about nipples | Honestly Banking
13/10/2011 at 12:51 (UTC 1) Link to this comment
[...] Most traders will dispute this vigorously. But take enough traders and some will come out top again and again. Just as if enough people flip coins often enough, some will get 10 heads in a row. Of course they will attribute their success to skill and insight and they will be feted by their peers and employers. Nassim Taleb has written eloquently on this in his books, most notably Fooled by Randomness. [...]