The best books about traders

The Books I Picked & Why

Liar's Poker

By Michael Lewis

Liar's Poker

Why this book?

Lewis is a phenomenal writer. Anything he has written can be assumed to be a great read. Liar’s Poker is Lewis’s account of his experiences as a trainee and bond salesman at Solomon Brothers in the 1980s—A very entertaining and humor-filled narrative.


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The Big Short: Inside the Doomsday Machine

By Michael Lewis

The Big Short: Inside the Doomsday Machine

Why this book?

Lewis’s account of the traders who got it right in 2008 is a magnificent achievement in that he somehow manages to take highly complex and esoteric material and make it both comprehensible to the lay reader and wildly entertaining. To give credit where due, I found one of my interview subjects for Hedge Fund Market Wizards (Jamie Mai) by reading this book.


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When Genius Failed: The Rise and Fall of Long-Term Capital Management

By Roger Lowenstein

When Genius Failed: The Rise and Fall of Long-Term Capital Management

Why this book?

The true story behind the rise and fall of Long Term Capital Management. Most people think it was simply about excess leverage. When you read Lowenstein’s account, you will see that there was a lot more to it than that. As a financial author, I admire authors who can take esoteric financial subject material and transform it into a comprehensible and entertaining narrative. In this respect, this book is similar to Michel Lewis’s The Big Short.


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More Money Than God: Hedge Funds and the Making of a New Elite

By Sebastian Mallaby

More Money Than God: Hedge Funds and the Making of a New Elite

Why this book?

Personally, I am not crazy about the title, but this book is an excellent account of the history of hedge funds. The book is thoroughly researched, very well written, and accurate based on my experience in writing about the same subject matter.


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What I Learned Losing a Million Dollars

By Jim Paul, Brendan Moynihan

What I Learned Losing a Million Dollars

Why this book?

A book I liked enough to agree to write the foreword. To quote from my own foreword, “There is more to be learned from Jim Paul’s true story of failure than from a stack of books promising to reveal the secret formula for success. Not only that, What I Learned Losing A Million Dollars is a much more entertaining read.”


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