Recommended Reading


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. . .


Adem Tumerkan,
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

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