John Wiley & Sons, 2010, [Finance] Grade 4
From a management perspective the investment business is an unusual animal due to the loose relationship between cause and effect. In most other industries, if you do the right thing and do it better in every way than your competitors you will win. In investment management you’ll have... Further reading... Link to Amazon...
John Wiley & Sons, 2012, [Finance] Grade 4
I really don’t know what to make of this book. Parts of it are hugely interesting, even brilliant, and other parts are simply strange. It’s a mighty and personal exposé of philosophy, psychology, politics, gambling, statistics and god knows what else. All of the above is tied to risk taking and... Further reading... Link to Amazon...
McGraw-Hill, 2010, [Finance] Grade 3
In this book some of the real veterans of Private Equity and Venture Capital get to tell their own story – How did their career develop? Why did they make the choices they made and how did this form the sectors today? What lessons can they share (professional and in life)? The author Robert Finkel is... Further reading... Link to Amazon...
McGraw-Hill, 2001, [Finance] Grade 3
It’s with mixed feelings I review this book almost a decade and a half after its publication. On the one hand the central insight of EVA, Economic Value Added, is as relevant as ever and unfortunately is still under-appreciated amongst corporate leaders. On the other hand the book hasn’t... Further reading... Link to Amazon...
John Wiley & Sons, 2009, [Finance] Grade 5
This is very much a book in the Market Wizard-tradition - a knowledgeable person interviews prominent macro hedge fund managers on how they work and what investments they have done. As the author knows many of the interviewees personally the conversation becomes... Further reading... Link to Amazon...
Broadway Books, 2000, [Finance] Grade 5
During the 1990’s the cheeky Swedish TV-character Gert Fylking, dressed in an awful pink tracksuit had the habit of shouting “Finally!” when the Nobel Prize committee announced another obscure literature prize winner to the waiting possy of pretentious culture journalists. This year I... Further reading... Link to Amazon...
Wiley Finance, 2008, [Finance] Grade 4
I have been an avid HOLT™-user since 2000 when I was first introduced to the company during a valuation seminar. So this review comes with the appropriate disclaimer of a happy customer. To me, HOLT has been like the sensible, objective and accomplished value investor that acts as... Further reading... Link to Amazon...
McGraw-Hill, 2005, [Finance] Grade 3
If you ever wondered how credit ratings are set, here’s the answer. The authors are managing directors at Standard & Poor’s and John Bilardello manages the corporate ratings division, few know more about how credit ratings are set. In all effects this is a book on how S&P performs... Further reading... Link to Amazon...
Penguin Books, 1994, [Finance] Grade 5
In 1954 the Canadian-born, Keynesian celebrity economist, serial author, academic enfant terrible and producer of timeless quotations - Ken Galbraith published his now classic The Great Crash of 1929. It’s never been out of print since. A Short History of Financial Euphoria is a compendious... Further reading... Link to Amazon...
Wiley & Sons, 2008, [Finance] Grade 4
Are hedge funds turning into mutual funds? The question might not be as ridiculous as it appears. This book argues that within a few years there will be a multitude of alternative beta indexes to be used as benchmarks for hedge funds. Hedge funds will look to relative returns... Further reading... Link to Amazon...
McGraw-Hill, 2011, [Finance] Grade 5
If you want an accessible way of starting to learn about derivates this is it. Michael Durbin has written an easy going text, free from jargon and without too many equations. The equations needed are still there, if not in the text then at least in the appendixes. The text is basic but still... Further reading... Link to Amazon...
Palgrave Macmillan, 2011, [Finance] Grade 3
I’m of the firm opinion that all participants in the financial markets need a set of investment beliefs structured into an investment philosophy. That is, they need a view on how markets work and how money is to be made according to this. Why? Because to get an edge a firm must act... Further reading... Link to Amazon...
John Wiley & Sons, 2013, [Finance] Grade 3
I was excited when I first heard about this book. This is for two reasons. A new book from Jack Schwager is always something to look forward to. He has done the Investment Management industry tremendous service through his educational and entertaining in-depth interviews with... Further reading... Link to Amazon...
McGraw-Hill, 2013, [Finance] Grade 4
On the final interview with the department heads of the bank where I was shooting for a position as an assistant portfolio manager 15 years ago, I was asked what I first look for in an annual report. I immediately answered “the shareholder letter”. It still is. Being a CEO letter junkie, the... Further reading... Link to Amazon...
John Wiley & Sons, 2012, [Finance] Grade 4
This is John Bogle’s tenth book and he surely does celebrate in style. I have read most of Mr Bogle’s books and The Clash of the Cultures is definitely the one that most resembles being a living person’s testament. Experiences, battles, triumphs and insights from over sixty years within... Further reading... Link to Amazon...
John Wiley, 2012, [Finance] Grade 3
Maneet Ahuja has come from almost nowhere to fame after writing The Alpha Masters: Unlocking the Genius of the World's Top Hedge Funds describing the most famous hedge fund managers globally. Her ability to get access to these gentlemen and making interviews full of insights is... Further reading... Link to Amazon...
McGraw-Hill, 2000 2nd ed, [Finance] Grade 5
Academic financial text books have, to a large extent, focused on beta and the so called efficient market. Active Portfolio Management was groundbreaking when it was first published in 1994 as instead it was devoted to the practical process of generating alpha from a quantative angle... Further reading... Link to Amazon...
Harvard Business Review, 2012, [Finance] Grade 5
Michael Maboussin is a strategist at Legg Mason and previously at CSFB. He is also a teacher at Columbia, a trustee board member of Santa Fe Institute and one of the two persons that have influenced my financial thinking the most. Maboussins’s new book aims to explain the elements... Further reading... Link to Amazon...
John Wiley & Sons, 2006, [Finance] Grade 4
Some of my smartest friends argue that the next few years will be similar to the period around 1990, where Politicians’ and Central Bankers’ decisions were the driving forces behind market action. Personally, I believe we are in a global deleveraging phase, a “Japan Lite”, with... Further reading... Link to Amazon...
2012, [Finance] Grade 3
A risk premium could be defined as a situation where an investor receives a higher expected return as a compensation for taking higher risk. The overarching thesis of the author is that positive risk premiums are extremely rare. Eric Falkenstein was one of the first to research the low... Further reading... Link to Amazon...
