I am often asked what reading I would suggest to traders that want to learn more. Well, in addition to my own Silicon Valley Babble On and Panic Prosperity and Progress, here are a few others I really like……
The Great Deformation – Simply stated, this is the best business book I’ve ever read. Written by Sloper David Stockman, it addresses the political and corporate dealings which have, over the past several decades, put us in the mess we’re in. I cannot recommend it highly enough.
Big Debt Crises – Ray Dalio, the famed money manager from Bridgewater, has come out with a new three-volume set which I realize this isn’t the kind of thing that would grab most people’s attention, but honestly, it’s fascinating. It is packed with hundreds of historical charts and dozens of examples from other centuries and other countries where economic mayhem took hold. Since I believe the entire globe is heading toward something catastrophic……….forewarned is forearmed
The Fourth Turning – Over the past five centuries, Anglo-American society has entered a new era – a turning – every two decades or so….Together the four turnings of the saeculum comprise history’s seasonal rhythm of growth, maturation, entropy, and destruction. This book lays it out and predicts about what is to come.
Currency Wars – excellent and easy-to-read volume about fiat devaluation and how countries use it for both positive and negative motives. This is far and away the best book I’ve ever read about currencies, and the way he weaves history into the text makes it fascinating.
The Big Short – an absolutely superb account of the mortgage bond meltdown of 2007-2008. Michael Lewis has written another can’t-put-it-down bestseller. Now a major motion picture!
Art of the Trade – Unlike anything I’ve ever read; very philosophical, very subtle – – almost sublime – – it helps you get inside the mind of a winning trader.
The Patterning Instinct – one of the best books I’ve ever read. I cannot recommend it strongly enough. It delves into Western Philosophy, Eastern Philosophy, ethics, science, history, religion, racism, the exploitation of man, ecology, international relations, the age of the explorers…………it is a smorgasbord of information woven together into a volume which is educational, inspiring, and sobering.
Fooled by Randomness – Nassim Taleb’s superb book about statistics, causality, probabilities, and the market. This is one of the best books related to trading I’ve ever encountered.
Trading in the Zone – a terrific guide to trading discipline……almost zen-like.
Technical Analysis of Stock Trends – the Bible of technical analysis. A must-read. Its advanced age its evident from its old-timey charts, but every technician must read this book.
Encyclopedia of Chart Patterns – a rigorous, statistical analysis of chart patterns and their effectiveness. Brilliant.
Education of a Speculator – fascinating amalgam of personality and trading style (even though his fund went belly-up shortly after publication!)
Market Wizards – a can’t-put-down collection of interviews with traders. Essential reading and full of fascinating profiles. I used to work for one of these “wizards”, but that’s a story in itself.