From an outsider’s view, trading can seem complex, nuanced, and intangible. But like any subject, the best way to wrap your head around it is to learn from the experts. If you’re a book nerd, you’re in the right place. Below are seven recommended reads from ShapeShift’s very own trading team.
Liar’s Poker is a semi-autobiographical book written by Michael Lewis. Lewis describes his life from his days at Princeton and the London School of Economics, to his experiences on Wall Street in the 1980s. He describes rising through the ranks at Salomon Brothers, making millions, and thriving in the competitive, cut-throat culture of Wall Street.
When Genius Failed is an account of the rise and fall of a hedge fund called Long-Term Capital Management. Roger Lowenstein interviews key players in the failed hedge fund, painting a picture of the fund's early success and its subsequent downfall. Lowenstein gives readers an in-depth look into the world of international investing, and bond and equities trading.
“In 1956 two Bell Labs scientists discovered the scientific formula for getting rich.” So begins Goodreads description of how Claude Shannon and Edward Thorp used information theory to manage uncertainty in trading, gambling, and more. Shannon went on to become an investor with a highly successful rate of return to rival the likes of Warren Buffet.
Barbarians at the Gate is an investigative journalism piece on the fall of RJR Nabisco, an American conglomerate selling food and tobacco products. The book is rife with the familiar notions of greed, opulence, and ambition, and is known to be highly recommended for traders.
Market Wizards gives us a dose of what we all need; lessons from the best in the industry. Author Jack Schwager interviews top traders on what they do that separates them from the masses. Interviewees include top traders like Marty Schwartz, Bruce Kovner, and Tom Baldwin.
Reminiscence of a Stock Operator was written way back in 1923, but its lessons are timeless. The book follows a market speculator named Larry Livingstone, revealing his advice on trading and the cycles and characteristics of the markets. In Lefèvre’s book, you’ll learn how to apply Livingstone’s trading principles.
Ugly Americans is the story of John Malcolm, the man who may have made the largest deal in the history of the financial markets. Read about Malcolm's Princeton years, how he made his fortune as one of the largest derivatives traders in Asia, and his entanglement with the Yakuza, Japan’s most well-known crime syndicate.
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We hope that you’ll add a few of these titles to your winter reading list or your 2020 reading challenge. There’s no better place to learn the ins and outs of the trading world from the experts in the field, and those who’ve studied them.
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