I'm a sociologist at the University of Edinburgh, and for almost fifty years I’ve researched a large variety of topics, from the story of the guidance systems of nuclear missiles to the instantaneous auctions that, today, determine the ads you are shown online. But I keep returning to the topic of trading and the global financial system. The processes that lie behind this shape our lives in profound ways, but they are often both complicated and opaque. We need reliable guides for them, and the authors and books that I am recommending are among the very best guides!
Taking the Floor is the story of a 20-year intellectual odyssey, by Daniel Beunza, one of the world’s most insightful analysts of the financial system. He delves in-depth into the organization of a Wall Street trading room, beginning with him negotiating access to it when he was working on his PhD. He also reveals how later conversations with key people in the trading room made him rethink many of his first impressions, showing him that what he took to be a typical form of organization was actually very deliberately designed to be unusual.
I particularly admire Beunza’s nuanced take (co-developed with the sociologist David Stark) on how traders use mathematical models. Traders are far from the naïve users of models that they are often portrayed as being, and instead often use models in a sophisticated way, not as guides to the truth of markets but as insights into what their…
An inside look at a Wall Street trading room and what this reveals about today's financial system
Debates about financial reform have led to the recognition that a healthy financial system doesn't depend solely on how it is structured-organizational culture matters as well. Based on extensive research in a Wall Street derivatives-trading room, Taking the Floor considers how the culture of financial organizations might change in order for them to remain healthy, even in times of crises. In particular, Daniel Beunza explores how the extensive use of financial models and trading technologies over the recent decades has exerted a far-ranging…
As part of the LGBTQ+ rainbow, I know firsthand what it is to be othered, and I grew up desperately wanting to read about and watch characters like me in books and movies. Now that I’ve found a genre of books that celebrates LGBTQ+ lives, I can’t help but want to read and write the stories I’ve always wanted to see and experience in the world of fiction and romance. Everyone deserves love, and I want to share that love with as many people as I can.
This book is an unconventional romance, but it is a sweeping one, with language that made me swoon and a love story that gave me reason to hope again. The main character, Vin, was a mystery I needed to solve. King Perry is the first in a book series that has opened my heart in ways I didn’t even know my heart needed opening. It’s a beautiful book (and series) that has the potential to change the way you look at life. Yes, it’s that good.
In a trendy San Francisco art gallery, out-of-towner Vin Vanbly witnesses an act of compassion that compels him to make investment banker Perry Mangin a mysterious offer: in exchange for a weekend of complete submission, Vin will restore Perry’s “kingship” and transform him into the man he was always meant to be.
Despite intense reservations, Perry agrees, setting in motion a chain of events that will test the limits of his body, seduce his senses, and fray his every nerve, (perhaps occasionally breaking the law) while Vin guides him toward his destiny as 'the one true king.'
I'm a sociologist at the University of Edinburgh, and for almost fifty years I’ve researched a large variety of topics, from the story of the guidance systems of nuclear missiles to the instantaneous auctions that, today, determine the ads you are shown online. But I keep returning to the topic of trading and the global financial system. The processes that lie behind this shape our lives in profound ways, but they are often both complicated and opaque. We need reliable guides for them, and the authors and books that I am recommending are among the very best guides!
From the 1980s onwards, one of the best ways to get rich has been to land a job as an investment banker or other highly paid financial professional. You might have thought that this required an economics degree and advanced mathematics, but one of my students discovered that what a leading investment-management firm most liked about her was that she was a near-professional-level cellist! That’s an example of what the famous sociologist Pierre Bourdieu calls ‘cultural capital’: skills, tastes, and so on that are highly regarded (even if not directly relevant to the job at hand).
Karen Ho landed a job at an investment bank but seized on it as an opportunity to gain insights into what it took to become successful at the pinnacle of the global financial system. She has also researched in-depth the processes by which students at elite Ivy League universities such as Princeton and Harvard…
Financial collapses-whether of the junk bond market, the Internet bubble, or the highly leveraged housing market-are often explained as the inevitable result of market cycles: What goes up must come down. In Liquidated, Karen Ho punctures the aura of the abstract, all-powerful market to show how financial markets, and particularly booms and busts, are constructed. Through an in-depth investigation into the everyday experiences and ideologies of Wall Street investment bankers, Ho describes how a financially dominant but highly unstable market system is understood, justified, and produced through the restructuring of corporations and the larger economy.
The residents of Pepys Road, London - a banker and his shopaholic wife, an elderly woman dying of a brain tumour, the Pakistani family who run the local shop, the young football star from Senegal and his minder - all receive anonymous postcards with a simple message: We Want What You Have. Who is behind it? What do they want?
As the mystery of the postcards deepens, the world around Pepys Road is…
I come from an engineering background and early in my career I discover financial modelling as I had to assess the viability of business plans. I deal with financial models the last 20 years of my professional carrier as a Group Financial Officer of SIDMA STEEL SA. Moreover, I am teaching financial modelling in the American College of Greece, Deree, at University of Nicosia in collaboration with Globaltraing and many other places abroad. I am a numbers person, and I am fascinated by financial modelling as it provides you a tool to support effective decision-making.
This book is one of the best I have seen on the topic of Investment Banking.
It is a very good primer. I would recommend it to everyone wanting to break into the industry. It is highly accessible, easy to understand and overall, an engaging presentation of the topic.
It is one of the books I consulted to write the valuation chapter of my book.
A timely update to the global bestselling book on investment banking and valuation - this new edition reflects valuable contributions from Nasdaq and the global law firm Latham & Watkins LLP plus access to the online valuation models and course.
In the constantly evolving world of finance, a solid technical foundation is an essential tool for success. Due to the fast-paced nature of this world, however, no one was able to take the time to properly codify its lifeblood--namely, valuation and dealmaking. Rosenbaum and Pearl originally responded to this need in 2009 by writing the first edition of the book…
I’ve always been interested—a vast understatement to anyone who knows me—in what makes people tick. I’ve focused on analyzing business actors – bankers, lawyers, investors, executives, shareholders, and others. What do they want? Some combination of money, power, or prestige? How does loving to win fit in? How about hating to lose? When is enough (money/power/prestige) enough? What do they think is ok to do to get what they want? What do they think is not ok? Amazingly, as a law professor, I can pursue that interest as part of my job, and – I think and hope – do so in a way that might help lawmakers, regulators, and policymakers do better.
This book is a wry look at investment banking from the inside. The author, a banker and professor school professor, provides a rich and entertaining perspective on banks and bankers.
The book captures an era when banks were changing dramatically, and, some might say, were getting less genteel. The author is really gifted at conjuring up and caricaturing some of banking’s pathologies.
I particularly loved the culminatory line in an account of junior analysts’ jobs in preparing “pitch books” – the analysts had to tout the bank’s “number one” status, and, scrambling to find something the bank was number one in, might fantasize about saying “We have 100% market share of all deals we did.”
Jonathan A. Knee had a ringside seat during the go-go, boom-and-bust decade and into the 21st century, at the two most prestigious investment banks on Wall Street-Goldman Sachs and Morgan Stanley. In this candid and irreverent insider's account of an industry in free fall, Knee captures an exhilarating era of fabulous deal-making in a free-wheeling Internet economy-and the catastrophe that followed when the bubble burst. Populated with power players, back stabbers, celebrity bankers, and godzillionaires, here is a vivid account of the dramatic upheaval that took place in investment banking. Indeed, Knee entered an industry that was typified by the…
I started keeping a journal when I was fifteen. Ten years later, I had the raw material for Fugue, a portrait of the artist as a young woman (I had read Joyce's Portrait of the Artist as a Young Man) that ends in celebration, rather than suicide (I had also recently read Plath's The Belljar). It did not get published. Thirty years later, I had so little, far too little, to celebrate. The portrait had become one of relentless frustration and persistent failure, despite my continued effort ... so much effort ... And so I wrote This is what happens, dedicating it to all the passionate, hard-working, competent women — it's not you.
Although this novel focuses on the world of investment banking, I list it here because it shows the difference between being a female working in finance and being a male working in finance; like This is what happens, it shows the impact of sexism on one woman's professional life, her dream, her ambition, her failure to achieve the former despite the latter.
I read it quite a while ago but was reminded of it while reading recently about the recent Martin/Nicole thing (wherein they switched email addresses, so Martin experienced what it was like to be Nicole for a couple of weeks) ("Folks, it sucked" was his summary).
"A job at Cray McKinley is whatever you make of it. For the real high flyers, there's no limit to what you can achieve."
Abby is a high flyer. But she's not your average banker. Driven by something other than money and status, she has her own reasons for climbing the ladder.
And so does Mike. An ambitious young graduate with an equally impressive CV, Mike is in it for the six-figure salaries and fast cars. He's got the skills, the grades and the swagger to make it all the way to the top.
I’m a career financial and business journalist, only recently turned novelist. I’m obsessed with the way that history repeats itself in the financial markets and that we never seem to learn our lessons. Fear and greed have always driven the behavior of bankers, traders, and investors; and they still do today, only barely inhibited by our regulatory system. I want to help people understand how markets work, and I like combining fiction with fact to explain these systems and how they’re abused. With that in mind, I work during the day as a reporter at NPR and by night as a scribbler of historical fiction with a financial twist.
I love this book because it reads like a fictional tale about the modern financial markets, and yet it’s all absolutely true!
I am still staggered by some of the stories that Lewis tells about the real-life characters who worked on Wall Street back in the 1980s. And I’m in awe of the colorful way he describes and explains the way the bond markets work—no easy task.
Not only did he bring the go-go days of the 80s to life for me, but he also gave me a solid grounding in the machinations of the financial markets, helping me in both my writing and journalism careers.
Michael Lewis was fresh out of Princeton and the London School of Economics when he landed a job at Salomon Brothers, one of Wall Street's premier investment firms. During the next three years, Lewis rose from callow trainee to bond salesman, raking in millions for the firm and cashing in on a modern-day gold rush. Liar's Poker is the culmination of those heady, frenzied years-a behind-the-scenes look at a unique and turbulent time in American business. From the frat-boy camaraderie of the forty-first-floor trading room to the killer instinct that made ambitious young men gamble everything on a high-stakes game…
I grew up in a small, rural community that is perhaps best defined by cold, grey, rainy days – perfect reading weather. I developed an interest in learning about different places and cultures through books. Then I started traveling and my interest turned into a passion, that transformed my educational journey. I completed a Masters and PhD in Anthropology and did my field research for my degree in Australia and Nepal. I still love to learn about new cultures, though the children have meant less traveling and more adventuring via books!
Girl, Woman, Other was the book I recommended to all my friends and family this year in our Christmas newsletter (yes, we are one of those families).
It follows twelve characters across two generations in the United Kingdom. Massive cultural shifts occur, socio-economic status changes, and children grow up.
At first glance, this might not appear to be a book about cross-cultural interactions but the relationship between the mother and daughter at the centre of the story highlight the monumental shifts that can occur in a lifetime.
“A must-read about modern Britain and womanhood . . . An impressive, fierce novel about the lives of black British families, their struggles, pains, laughter, longings and loves . . . Her style is passionate, razor-sharp, brimming with energy and humor. There is never a single moment of dullness in this book and the pace does not allow you to turn away from its momentum.” —Booker Prize Judges
Bernardine Evaristo is the winner of the 2019 Booker Prize and the first black woman to receive this highest literary honor in the English language.…
I am an anthropologist and former owner of a tech company. I saw firsthand how technology was changing society in the early twenty-teens, and knew that we were experiencing a compounding paradigm shift. I have a passion for telling stories and preserving the past for future generations — the stories that our grandchildren will ask about, just as we asked our grandparents about the great wars and depression.
I love it when authors want to tackle an enormous question that we have all asked at some point. Po Bronson traveled to meet people who are both unique and common, impressive and ordinary, and ultimately just like everyone else. They share how they’ve tackled the question for themselves. There is no formula, no one way, and that comes with a certain sense of freedom.
My favorite story features a man who is working to revolutionize the income model of America’s Native Peoples to elevate both their stature and power (literally). He is working on a 50-year plan, which impressed me and was an apt reminder that sometimes the fruits of our labors come many years later.
Are you looking for the right path in 2021? This book tackles the question that most of us face at some point in our lives: 'what should I do with my life?', and provides illuminating answers.
Bronson's book is a fascinating account of finding and following the people who have taken the ultimate challenge of self-discovery by uprooting their lives and starting all over again. From the investment banker who gave it all up to become a catfish farmer in Mississippi, to the chemical engineer from Walthamstow who decided to become a lawyer in his sixties. These stories of individual…
