The Palisade Research Recommended Reading and Book List
“…The successful macro-investor must be some magical mixture of an acute analyst, an investment scholar, a listener, a historian, a river boat gambler, and be a voracious reader – reading is crucial…” ~ Barton Biggs
I am an avid reader about all things finance related – I think it’s an absolute must as a speculator.
History, investing strategies, philosophy, risk, complex systems, politics, biology/ecology, and everything else. . .
Many that know me have seen the huge wall-to-wall library of books I have in my living room. And crates of color coded files, filled with years of investment newsletters (got my first ‘Grants Interest Rate Observer’ letter when I was 22), aswell as piles of printed-out economic papers and dozens of scribbled notepads/moleskines all over the place.
I love sitting up at 3 a.m., reading and writing down notes while listening to jazz-cafe-house music.
It’s my favorite way to think, study and create. . .
I believe that a good investing book should be – above all else – practical. Most are just noise and useless theory that doesn’t do anything for the reader in the long-term.
As an investor and reader, I want original ideas that have actionable advice so I can better my strategies and benefit from it.
But most importantly – not to waste my time. . .
After debating with my team – we put together a list of books that have impacted us and think will give you practical use.
Nowhere else will you find such a large and resourceful book list. . .
Editor in Chief – Palisade Global Investments
UPDATE: MAY 29, 2018 – Here Are Some Books I’ve Recently Read That I’m Adding To Our List. . .
Collusion: How Central Banks Rigged The World by Nomi Prins
Predicting Markets: A Professional Autobiography by Edward Yardeni
Systems Thinking for Social Change: A Practical Guide to Solving Complex Problems, Avoiding Unintended Consequences, and Achieving Lasting Results by David Peter Stroh
The Book of Why: The New Science of Cause and Effect by Judea Pearl
Scale: The Universal Laws of Life, Growth, and Death in Organisms, Cities, and Companies by Geoffrey West
More Than You Know: Finding Financial Wisdom in Unconventional Places by Michael Mauboussin
Expectations Investing: Reading Stock Prices for Better Returns by Alfred Rappaport, Michael Mauboussin
A Beautiful Mind by Sylvia Nasar
The Infidel and the Professor: David Hume, Adam Smith, and the Friendship That Shaped Modern Thought by Dennis Rasmussen
Howard Hughes: His Life and Madness by Donald L. Barlett, James B. Steele
The Match King: Ivar Kreuger – the Financial Genius Behind A Century of Wall St. Scandals by Frank Partnoy
The Perception of Risk by Paul Slovic
King Icahn: The Biography of a Renegade Capitalist by Marke Stevens, Carol Bloom Stevens
Hamilton’s Curse: How Jefferson’s Arch Enemy Betrayed the AMerican Revolution – And What It Means For Americans Today by Thomas J. Dilorenzo
Why Minsky Matters: An Intro to the Work of a Maverick Economist by L. Randall Wray
Am I Being Too Subtle? Straight Talk From a Business Rebel by Sam Zell
Risk Management, Uncertainty, Probabilities, and Dealing with Volatility. . .
Black Swan by Nassim Taleb
Fooled by Randomness by Nassim Taleb
The Signal and the Noise by Nate Silver
The Fat Tail by Ian Bremmer and Preston Kent
The Drunkards Walk: How Randomness Rule’s or Lives by Leonard Mlodinow
Against the Gods by Peter L. Bernstein
The Misbehavior of Markets by Benoit Mandelbrot
When Genius Failed by Roger Lowenstein
The Theory That Would Not Die – Bayes Theroem by Sharon Mcgrayne
How to Lie with Statistics by Darrell Huff
Calculated Risk: How to Know When Numbers Deceive You by Gerd Gigerenzer
Being Contrarian. . .
Be Unreasonable by Paul Lemberg
The Art of Contrary Thinking by Humphrey Bancroft Neill
Contrarian Investment Strategies: Beat the Market Against the Crowd by David Dreman
The Trouble with Prosperity – A Contrarian’s Tale of Boom, Bust, and Speculation by Jim Grant
Liars Poker by Michael Lewis
The Big Short by Michael Lewis
Selling America Short: The SEC and Market Contrarians in the Age of Absurdity by Richard Sauer
The Big Score: Robert Friedland, INCO, and the Voisey Bay Hustle by Jacquie McNish
All Things ‘Cycle Theory’ Related. . .
Tomorrow’s Gold by Marc Faber
Capital Returns by Edward Chancellor
Devil Take the Hindmost by Edward Chancellor
BULL: A History of Boom and Busts by Maggie Mahar
The Austrian Theory of the Trade Cycle and Other Essays edited by Richard M. Ebeling
Austrian School Business Cycle Theory by Murray Rothbard
The Origin of Financial Crises by George Cooper
The Structure of Production by Mark Skousen
Profiting From Monetary Policy: Investing Through the Business Cycle by Thomas Aubrey
The Great Wave: Price Revolutions and the Rhythm of History by David Hacket Fischer
Macro-Economics. . .
Currency Wars by Jim Rickards
The Alchemy of Finance by George Soros
When Money Dies by Adam Fergusson
Adaptive Markets: Financial Evolution by Andrew W. Lo
The End of Theory: Financial Crises, the Failure of Economics by Richard Bookstaber
The Invisible Hands by Steven Drobny
More Money Than God by Sebastian Mallaby
Monetary Regimes and Inflation: History, Economics, and Political Relationships by Peter Bernholz
The Escape From Balance Sheet Recession and the QE Trap: A Hazardous Road for the World Economy by RIchard C. Koo
The Holy Grail of Macroeconomics: Lessons From Japan’s Great Recession by Richard C. Koo
Behavioral Economics and Finance. . .
The Undoing Project by Michael Lewis
Misbehaving by Richard Thaler
The Art of Thinking Clearly by Rolf Dobelli
The Crowd: A Study of the Popular Mind by Gustave Le Bon
The Art of Strategy: A Game Theorist’s Guide to Success in Business and Life by Avinash Dixit
Fads and Fallacies by Martin Gardner
Thank You for Arguing: What Aristotle, Lincoln, And Homer Simpson Can Teach Us About the Art of Persuasion by Jay Heinrichs
What I Learned Losing a Million Dollars by Jim Paul
Essays of Persuasion by John Maynard Keynes
More Than You Know: Finding Financial Wisdom in Unconventional Places by Michael J. Mauboussin
The Success Equation: Untangling Skill And Luck in Business, Sports, and Investing by Michael J. Mauboussin
Market Wizards: How Winning Traders Win by Jack D. Schwager
Behavioral Investing: A Practitioners Guide to Applying Behavioral Finance by James Montier
Complex Systems, Network Theory, Chaos, and the Science of Complexity. . .
Simply Complexity by Neil Johnson
Why Stock Markets Crash: Critical Events in Complex Financial Systems by Didier Sornette
Complexity, Risk, and Financial Markets by Edgar Peters
The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell
Sync: How Order Emerges From Chaos in the Universe, Nature, and Daily Life
Linked: How Everything is Connected to Everything Else and What it Means For Business, Science, and Everyday Life
Theory of Economics. . .
Man, Economy, State by Murray Rothbard
America’s Great Depression by Murray Rothbard
Making Economic Sense: Collected Essays by Murray Rothbard
Economics in One Lesson by Henry Hazlitt
The Case for Gold by Ron Paul
Human Action by Ludwig Von Mises
The Road to Serfdom by F.A. Hayek
The Causes of Economic Crisis – Essays by Ludwig Von Mises
Socialism by Ludwig Von Mises
Theory and History by Ludwig Von Mises
The Essays of Political Economy by Fredric Bastiat
Stabilizing an Unstable Economy by Hyman Minsky
Interest Rates, Banking, and The Federal Reserve. . .
Creature from Jekyll Island by Edward Griffin
End the Fed by Ron Paul
Collusion: How Central Banks Rigged the World by Nomi Prins
The Case Against the Fed by Murray Rothbard
The Man Who Knew: The Life and Times of Alan Greenspan by Sebastian Mallaby
America’s Bank: The Epic Struggle to Create the Federal Reserve by Roger Lowenstein
Value Investing and other Investing Strategies. . .
Security Analysis by Benjamin Graham
Antifragile by Nassim Taleb
A Viennese Waltz Down Wall Street by Mark Skousen
The Most Important Thing Illuminated by Howard Marks
Manual of Ideas by John Mihaljevic
Margin of Safety by Seth Klarman
You Can Be a Stock Market Genius by Joel Greenblatt
The Dao of Capital by Mark Spitznagel
Reminiscences of a Stock Operator by Edwin Lefevre
Pitch the Perfect Investment by Paul D. Sonkin, Paul Johnson
Accounting for Value by Stephen Penman
Financial Shenanigans: How To Detect Accounting Gimmicks & Fraud in Financial Reports by Howard Schilit
The Dark Side of Valuation: Valuing Young, Distressed, and Complex Businesses by Aswath Damodaran
Value Investing: Tools and Techniques for Intelligent Investment by James Montier
Distressed Debt Analysis: Strategies for Speculative Investors by Stephen G. Moyer
Optionality, Anti-fragility and Option Trading. . .
Antifragile by Nassim Taleb
Dynamic Hedging: Managing Vanilla and Exotic Options by Nassim Taleb
Commodity Options by Carley Garner and Paul Brittain
Short Selling and Profiting from Collapsing Prices. . .
Dead Companies Walking by Scott Fearon
Art of Short Selling by Kathryn Staley
The Most Dangerous Trade by Richard Teitelbaum
Anatomy of the Bear by Russel Napier
Short Selling: Finding Uncommon Short Ideas by Amit Kumar
Other Various Great Reads. . .
Seeking Wisdom: From Darwin to Munger by Peter Bevelin
The Gold Cartel by Dimitri Speck
Gold: The Monetary Polaris by Nathan K. Lewis
Adventure Capitalist by Jim Rogers
Street Smarts by Jim Rogers
Confessions of an Economic Hitman by John Perkins
And The Money Kept Rolling In (And Out): The Bankrupting of Argentina by Paul Blustein
By All Means Necessary: How China’s Resource Quest is Changing the World by Elizabeth Economy
Unrestricted Warfare: China’s Master Plan to Destroy America by Qiao Liang
Hot Commodities by Jim Rogers
Barbarians at the Gate: The Fall of RJR Nabisco by Bryan Burrough
The Autobiography of Benjamin by Franklin Stanley Applebaum
Jefferson (Thomas Jefferson) by Albert Jay Nock
Fiat Money: Inflation in France by Andrew Dickson White
The Colder War by Marin Katusa
Borrow: The American Way of Debt by Louis Hyman
Skin in the Game: Hidden Asymmetries in Life by Nassim Taleb
A Man for All Markets by Edward Thorpe
The Greatest Trade Ever by Gregory Zuckerman
Petrodollar Warfare: Oil, Iraq, and the Future of the Dollar by William R. Clark
The Alchemist by Paul Coelho
The Tyranny of Experts by William Easterly
The Logic of Scientific Discovery by Karl Popper