Minyanville's Book Recommendations: Part II
Some of the best Wall Street minds offer their picks...
Read any good books lately? Just in case you haven't, we're here to help.
Nothing stands the test of time--or can make it go by faster--than a great book. And since sharing the best ideas is our thing here in the 'Ville, we've asked our professors to share their favorites from the past year with the Minyanville Community.
Take a look to see what the pros are reading to stay sharp and send us your favorites for our Reader's Choice column.
Click here to read Minyanville's Book Recommendations: Part I
When to Sell: Inside Strategies for Stock-Market Profits
by Justin Mamis
A Thousand Barrels a Second: The Coming Oil Break Point and the Challenges Facing an Energy Dependent World
by Peter Tertzakian
Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy
by Matt Simmons
The Power of Gold
by Peter Bernstein
"Admirably written… a wonderfully interesting view - not alone of gold but of the greater economic history" - John Kenneth Galbraith.
If you haven't read this book then you don't really know gold at all - opinion only.
by Andrew Sullivan
"This is not a book about how a person deals with his or her sexuality. It is not an autobiography; and it is not a history of a political movement. It is a book about how we as a society deal with the homosexual minority that is always with us: an attempt to think through the arguments on all sides, to take the experience of all of us – heterosexual and homosexual – and try to make some social and political sense of it..."- from the Prologue.
by Mike Hayes
"In a world where stereotypes reign, there's a colorful race of people called Australians who, stereotypists would have us believe, are sun bronzed, beach mad… and would bet on two flies crawling up a cliché. Central to our alleged passion for gambling is The Track – the endless pursuit of horse after horse, loser after winner, punter after fortune, and every crooked way in between. The story of good breeding and bad behavior over a century of racing in Australia."
Humorous, witty and written by one of Australia's best yarn spinners and folklorists.
Empire of Debt: The Rise of an Epic Financial Crisis
by Bill Bonner and Addison Wiggins
Self explanatory to most Minyans – just buy it, and one for your parents and maybe send one to the Fed!
by John Gierach
"If you enjoy incisive comment, wry humor, and some inventive insight into trout and trout anglers, then Trout Bum is just the book for you... This is highly intelligent stuff indeed but it is masterly tempered by Gierachs polished and congenial style." – Rocky Mountain Streamside.
MAD HARRY: Australia's most decorated soldier.
by George Franki and Clyde Slayter
From the cover - "Harry Murray VC, CMG, DSO and Bar, DCM and Croix de Guerre, an Australian, was the most highly decorated of all the millions of infantrymen who served in the armies of Great Britain and its empire in World War I. He remains the most highly decorated Australian soldier ever. Enlisting in the Australian Imperial Force in 1914 as a private soldier, at the end of the war, in 1918, he commanded a machine gun battalion as a lieutenant colonel and had been awarded six decorations including the coveted Victoria Cross, the highest recognition for bravery available. Known admiringly throughout the AIF as "Mad Harry" because of his fearlessness in patrols in No-Man's-Land and his ferocity in hand-to-hand fighting, Murray was far from "mad'."
A great book on courage, risk management, innovation and improvisation, leadership, planning and implementation, personnel management and humility.
Sex Is Not A Four Letter Word But Relationship Often Times Is.
by Gary M. Douglas and Dr. Dain C. Heer
From the introduction – "Some of the things we talk about will contradict all of your ideas about the way things should be. We may challenge what you've been told in every class about sex and relationships you've ever taken, everything you've read about on the subject. And everything you've been told by all the so-called experts."
Gold Trading Boot Camp: Master the Basics and Become a Successful Commodities Investor
by Greg Weldon
It's a very decent book that came out earlier this year from John Wiley and Sons ...
Gold Trading Boot Camp: Master the Basics and Become a Successful Commodities Trader by Greg Weldon
However, if it is not available, I recommend:
by Jeff Hawkins
I cannot recommend Behavioral Trading - it contains way too much insight into how the market is a metaphor machine. This book shows that the brain is not a computing machine, it is an analogy machine.
My favorites are:
If You Want to Walk on Water You Have to Get Out of the Boat.
by John Ortberg
Whenever I face a life challenge that scares me, I re-read this book to keep all my priorities in line.
How I Made $2M in the Stock Market
by Nicholas Darvas
In my opinion this is by far one of the classic books on trading. It truly allows the reader to understand the importance of drowning out the noise.
Success is a Choice
by Rick Pitino
One of the greatest coaches of all time, well when he was at the University of Kentucky at least. This is a book I read whenever I need a swift kick in the pants.
How to Trade in Stocks
by Jesse Livermore
While it is out of print, it was redone by author Richard Smitten. J. Livermore is someone to learn from when it comes to trading stocks. Each and every principal he had in the 1920's and 30's applies to today and will apply tomorrow.
More than You Know
by Michael J. Mauboussin
I would recommend this title as one of the more insightful books ever written for developing a more optimal mindset for trading & investing.
Jon Doctor J Najarian
A Mathematician Plays the Stock Market
by John Allen Paulos
You will laugh out loud reading this one. Example: "How many efficient market theorists it takes to change a light bulb. Answer: None. If the light bulb needed changing the market would have already done it." Very well done.
Fooled by Randomness
by Nassim Nicholas Taleb
Eccentric look at what randomness really is, and how often traders mistake dumb luck for skill.
Traders' Tales: A Chronicle of Wall Street Myths, Legends, and Outright Lies
by Ron Insana
Pure fun, not a how to book.
by Robert Charles Wilson
The stars vanish and we simulate sunlight artificially. The world will end in 40 years and this book explores how three people deal with that grim reality. Fascinating.
The World Is Flat
by Thomas L. Friedman
Best book on globalization hands down. You really can't be in the information business and not read this book.
This is easy:
Zone Mind, Zone Body
by Roy Palmer
Achieving peak performance and getting into the zone is not just helpful for athletics. Same techniques helps traders/investors alike. Also, a certain amount of physical activity doesn't hurt investment results either.
Reminiscences of a Stock Operator
by Edwin Lefèvre
Absolute favorite investment book. A great entertaining read and good timeless trading lessons in almost every chapter. I've read it numerous times and will read it a few more.
How I Made $2,000,000 In The Stock Market
by Nicolas Darvas
Easy as well as entertaining read. Many good lessons on buying momentum, plus many more lessons if your reading between the lines.
Golf In The Kingdom
by Michael Murphy
Sometimes you just have to read something to get your mind off trading and this is a pretty darn good trip through the world's of golf and philosophy. Some readers may find other connections but I'll not spoil the journey.
I've written more books than I've read...
Here are some of mine:
Intra-Day Trading Strategies Coursebook w/ DVD
Hit and Run Trading
Hit and Run Trading II
7 Set-ups That Consistently Make Money
Unlocking the Profits of the New Swing Chart Method
And here are some other favorites:
How to Profit In Commodities
by W.D. Gann
All the methods apply to stocks.
Extaordinary Popular Delusions and the Madness of Crowds
by Charles Mackay
The Art of War
by Sun Tzu
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