The holiday season often comes with the opportunity to rest and relax. And what better way to take some time for yourself than by curling up with a good book. For those who find themselves drawn to the financial industry on any scale, here are 10 great reads that shouldn’t be missed.
1. Liar’s Poker
Liar’s Poker chronicles author Michael Lewis’ path from Princeton and the London School of Economics grad through a position at one of the premier Wall Street investment firms, Salomon Brothers. He describes the experience of rising from the position of a basic trainee to a full-fledged bond salesman in just three years during the 1980s. It’s an insider’s telling of a time known for excessive greed and gluttony that lead many to make fortunes.
2. The Wolf of Wall Street
Jordan Belfort’s The Wolf of Wall Street recounts the success of the former leader of one of the most recognized investment firms of the 1990s, Stratton Oakmont. It captures the excesses of the times including the Belfort’s own experiences with binges that included copious amounts of sex, drugs, and a rock-n-roll lifestyle previously the exclusive territory of the reckless musician crowd, up until the crash that ended it all.
3. The Snowball: Warren Buffett and the Business of Life
Traditionally, Warren Buffett, the Omaha investor, and billionaire, has maintained an air of privacy regarding his affairs. Author Alice Schroeder was provided unprecedented access to the life story of “The Oracle of Omaha” straight from the source, resulting in this acclaimed biography, The Snowball: Warren Buffett and the Business of Life which delves deeper than any exploration of Buffet’s life before it.
4. The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance
Ron Chernow covers the history of the American financial giant in The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance. The book covers the story of the Morgan family and the creation of the J.P. Morgan finance empire over the course of around 150 years prior to its original release.
5. The End of Alchemy: Money, Banking, and the Future of the Global Economy
The most recent financial crisis affected the world. Mervyn King’s The End of Alchemy: Money, Banking and the Future of the Global Economy covers information about the history of money and banking, as well potential glimpses into the industry’s future. King uses his experience running the Bank of England to provide refreshing insights into the banking community and the workings of the global economy.
6. Lords of Finance: The Bankers Who Broke the World
Lords of Finance: 1929, The Great Depression, and the Bankers who Broke the World by Liaquat Ahamed explores how the decisions of a few ultimately affected so many during the Great Depression and how a series of poor decisions resulted in financial catastrophe. With the recent crisis still fresh in the minds of many, taking a look at the parallels provides a thorough understanding of how these systems can fail.
7. Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System
A winner of the 2010 Gerald Loeb Award Best Book Award, and featured on numerous best book lists from publications like The Economist and the Financial Times, Andrew Ross Sorkin’s Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System from Crisis provides an accessible retelling of one of the most astonishing occurrences in the financial industry. Sorkin provides information that few before even knew, shining a new light on the behind-the-scenes activities that almost brought the world to its knees.
8. Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History
Matt Taibbi covers the American financial crisis that began in 2008 in Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History. Within the pages, Taibbi reviews the activities of the bailout, the Goldman Sachs debacle, and the commodities bubble that changed global economics.
9. Cityboy : Beer and Loathing in the Square Mile
Cityboy: Beer and Loathing in the Square Mile by Geraint Anderson breaks the silence on the activities within the London financial industry. His account includes insights into the inflated egos, trade secrets, and the overindulgent culture that surrounded those who found themselves caught up in the frenzy.
10. Rogue Trader
Nick Leeson’s Rogue Trader was written while Leeson found himself imprisoned in a Singapore jail. The story covers his role in the fall of Barings Bank and the broken system that held the banking industry together.
Disclosure : This article contains sponsored links from Amazon.