The Investing Pro's Library

The Investing Pro's Library

The Most Influential

Topics: Risk/Reward

Nassim Taleb

Peter Thiel: Zero to One (Link)

Aaron Brown: Red Blooded Risk (Link)

Peter L Bernstein: Against the Gods (Link)

Howard Marks

  • The Most Important Thing (Link)
  • Quarterly Memos (Link)

David Sklansky

  • Getting the Best of It (Link)
  • Theory of Poker (Link)

Process to Extract Edge

AQR research

  • Expected Returns by Antti Ilmanen (Link)

“The Bible”. “Don’t tell others”

  • Papers by Tobias Moskowitz (Link)

Turtle Trading

  • Way of the Turtle by Curtis M. Faith (Link)

“Drilled into me the importance of process, even if simple, before my career really ever began”

  • The Original Trading Rules pdf (Link)

Jack D Schwager

  • Market Wizards (Link)
  • The New Market Wizards (Link)

“Biggest takeaway: a lot of shit works, figure out what aligns with your personality”

Popular Themes

Numeracy and stats

Nate Silver: The Signal and the Noise (Link)

Darrell Huff: How To Lie With Statistics (Link)

Alex Reinhart: Statistics Done Wrong (Link)

John Allen Paulos: Innumeracy (Link)

Microeconomic Reasoning

Levitt and Dubner: Freakonomics (Link)

Tim Harford: The Undercover Economist (Link)

Value Investing

Munger/Buffet

  • Poor Charlie’s Almanac (Link)
  • Munger Speech at USC, 1994 (Link)
  • Buffet’s original partnership letters (Link)

Seth Klarman: Margin of Safety (Link)

Joel Greenblatt: The Little Book That Beats The Market (Link)

Competitive Markets

Michael Mauboussin

  • Research papers (Link)
  • The Success Equation (Link)

Jesse Livermore (pseudonym)

  • Diversification, Adaptation, and Stock Market Valuation (Link)

“This changed my thinking about how market participants behave and how their learning process can influence future prices”

  • The Single Greatest Predictor of Future Stock Market Returns (Link)

Risk

Benoit Mandelbrot: The Misbehavior of Markets (Link)

William Poundstone: Fortune’s Formula (Link)

Chris Cole: Research Papers (Link)

Parallels to Edge in Sports

Michael Lewis: Moneyball (Link)

Bill James: Win Shares (Link)

Dean Oliver: Basketball on Paper (Link)

History

Daniel Yergin: The Prize (Link)

  • “It’s a good exercise in rethinking everything-you-know based on a new model.”

Ron Chernow: The House of Morgan (Link)

Emile Zola: Money (Link)

William Thorndike: The Outsiders (Link)

Jim Rogers: Investment Biker (Link)

Satyajit Das: Traders, Guns, and Money (Link)

Roger Lowenstein: When Genius Failed (Link)

Scott Patterson: The Quants (Link)

Steve Knopper: Appetite for Self-Destruction (Link)

Behavioral/Psychology

Thomas Gilovich: How We Know What Isn’t So (Link)

Lynne Twist: Soul of Money (Link)

Kahneman and Tversky: Thinking Fast and Slow (Link)

Steven Johnson: Mind Wide Open (Link)

Brett Steenbarger: The Psychology of Trading (Link)

Edward Russo: Decision Traps (Link)

General Investing

William J. Bernstein: The Four Pillars of Investing (Link)

  • “I’m confident a regular person could read this book, and nothing else, and outperform most professional advisors. It’s an all-in-one book that covers the history of markets, practical portfolio construction, and the emotional side of investing. Despite the wide scope, it doesn’t feel like a compromise in any category. By far my most suggested book.”

Harry Browne: Fail Safe Investing (Link)

Alexander Elder: Trading For A Living (Link)

Novel

Ayn Rand: The Fountainhead (Link)

Herman Melville: Moby Dick (Link)

“A good way meditation on how much you sacrifice if you’re goal-oriented, effective, have a high risk-tolerance, and need to work with a diverse set of stakeholders.”

Reference

Sheldon Natenburg: Option Volatility and Pricing (Link)

Mullis and Orloff: The Accounting Game (Link)

Nassim Taleb: Dynamic Hedging (Link)

Carol Alexander: Market Models (Link)

Peter Kennedy: A Guide to Econometrics (Link)

Lists from others whose work I follow:

Meb Faber (Link)

Dan Egan (Link)

Epsilon Theory Core Curriculum (Link)

Jason Collins’ Economics + Evolutionary Bio list (Link)

Taylor Pearson (Link)

Jason Zweig (Link) and his Top 5 (Link)

Famous Investors’ Reading Lists (Link)