CNBC offered a list of some must-read exposés on the inner workings of Corporate America. Among the picks: Conspiracy of Fools, about Enron (and my second favorite book of all time behind A Separate Peace), Barbarians at the Gate, Liar's Poker and The Predator's Ball. These are all excellent books, and I'm embarrassed to say I've read every book on CNBC's list, which is probably part of the reason I don't have a girlfriend. However, I have some additional favorite Wall Street exposés. Oftentimes, you can learn as much about investing reading these books as you can reading the more expository books; and these ones are about 20 times more interesting:
Andy Kessler's Running Money and Wall Street Meat: These two cover the author's exploits as an analyst working alongside the likes of Jack Grubman, and his later career as a hedge fund manager focused on Silicon Valley stocks. They read crisply, and are great for the beach.
Once in Golconda and The Go-Go Years, both by John Brooks: These two, along with anything else published under the Wiley Investment Classics label are great. The first covers Wall Street from the Roaring Twenties through the Great Depression, and the second covers the Go-Go 1960s, when momo-managers like General Tsai rose rapidly, and then crashed just as quickly. Order the Wiley edition so you get Michael Lewis's foreword.
And, of course, Charles Mackay's classic Extraordinary Popular Delusions and the Madness of Crowds: Originally published in 1841, this is one of a handful of investment books that have stood the test of time. To learn more about euphoric bubbles, from tulipomania to the Roaring Twenties, pick up John Kenneth Galbraith's Short History of Financial Euphoria.
So that's my list. Anything I forgot?
Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
Deere up on Q4 earnings performance
Reid Hoffman: LinkedIn will go public (at some point)
Reader Comments (Page 1 of 1)
4-02-2007 @ 9:47PM
Ben Kalmuk said...
There is no book that is as informative about American business as one that takes on the Carlyle group.Enter the name Carlyle group on your website. The information is mind boggling.Whatever violent events happen anywhere in the world it can be traced to this shady organization. The Mafia are like boy scouts.
4-02-2007 @ 10:43PM
wbigtummy said...
You forgot "Final Accounting" about the demise of Arthur Andersen.