Bear Stearns’ reading list for interns

The reading list below, prescribed for Bear Stearns interns, comes courtesy of Paul Kedrosky’s Infectious Greed blog.

As soon as I have got my library (of a few hundred investment books) back in order, post building renovations, I will compile and share with you a list of books that have provided me with guidance over the years. Another item on the to-do list …

•	Barbarians at the Gate by Bryan Burrough and John Helyar

•	Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing by Hersh Shefrin

•	Confessions of a Street Addict by Jim Cramer

•	Den of Thieves by James B. Stuart

•	Devil Take the Hindmost: A History of Financial Speculation by Edward Chancellor

•	Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb

•	Liar’s Poker by Michael Lewis

•	Monkey Business: Swinging Through the Wall Street Jungle by John Rolfe and Peter Troob

•	Reminiscences of a Stock Operator by Edwin Lefèvre

•	The Mind of Wall Street by Leon Levy

•	The Predator’s Ball by Connie Bruck

•	Wall Street Meat: My Narrow Escape from the Stock Market Grinder by Andy Kessler

•	When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein

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3 Responses to “ Bear Stearns’ reading list for interns ”

Comments:

Antunes says:
September 14th, 2007 at 12:48 pm

What a wonderfull list…!

Maybe they should add the following to it:

The Dangerous Book for Boys, by Conn Iggulden (at least 6 references for the word risk…).

stevo says:
September 17th, 2007 at 12:51 am

The above list is somewhat fluff. It may make interesting reading — if that is what one is looking for — but not trading or investing profits. I recommend the following list for more productive reading:

Angas, L. L. B. (1932). “Investment.” London: MacMillan and Co., Ltd. [One of my all-time favorites. Very specific approach to riding the investment cycles.]

Bruner, R. F., and Carr, S. D. (2007). “The panic of 1907: lessons learned from the market’s perfect storm.” Hoboken, NJ: John Wiley & Sons. [Gold bugs will discover why a return to the gold standard would be a return to economic barbarism. Also, a good overview of how an accumulation of things going awry on a micro basis can ultimately give a macro, knock-out punch to the global economy.]

Crabel, T. (1990). “Day trading with short term price patterns & opening range breakout.” Greenville, SC: Traders Press Inc. [Graduate course work in trading.]

Dines, J. (1972). “How the average investor can use technical analysis for stock profits.” USA: Dines Chart Corporation. [Having a working knowledge of what’s inside this tome makes trading and investing much easier.]

Dunnigan, W. (1997). “New blueprints for gains in stocks and grains/One-way formula for trading in stocks and commodities.” London: Financial Times/Pitman Publishing. [Surely it is not possible that a 1950s-era, technical trading system actually works — or is it?

Fabricand, B. P. (1979). “The science of winning: a random walk down the road to riches.” New York: Van Nostrand Reinhold. [The author demonstrates very convincingly how to successfully navigate weakly efficient markets — such as the stock market.]

Parsson, J. O. (1974). “Dying of money: lessons of the great German and American inflations.” Boston: Wellspring Press. [Absolutely the best book about money ever written. Its thesis has held-up remarkably well over the past thirty years.]

Rhoads, D. E. (1977). “How to survive a spastic economy: a guide to successful investment and management in tomorrow’s economy.” San Diego, CA: JD Press. [Quick analysis of the monetary/business cycle with respect to the appropriate direction in which one should invest his or her funds. Still relevant. Still excellent. Too bad that the author passed away before he published his monumental, “Wake for the west.”

It is likely that the SPX will break above its reverse head and shoulders formation on the week of 17 September 2007. I believe that new highs are soon in prospect.