10 books like Liar's Poker

By Michael Lewis,

Here are 10 books that authors have personally recommended if you like Liar's Poker. Shepherd is a community of 7,000+ authors sharing their favorite books with the world.

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The Big Short

By Michael Lewis,

Book cover of The Big Short: Inside the Doomsday Machine

In my career as a corporate spy, I was able to see and learn many things I wasn’t supposed to. As a result, I saw the makings of what would become the world’s worst financial crisis since the Great Depression, the 2008 Crash. At first, I thought I was the only one, until I read The Big Short. Michael Lewis documents the few oddballs and kooks prescient enough to read the financial tea leaves and see the crash coming. More than that, he shows how Wall Street didn’t care, until it was too late. 

The Big Short

By Michael Lewis,

Why should I read it?

6 authors picked The Big Short as one of their favorite books, and they share why you should read it.

What is this book about?

The real story of the crash began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower- and middle-class Americans who can't pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren't talking.

Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liar's Poker. Out of a…


When Genius Failed

By Roger Lowenstein,

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

How financial rocket scientists were bested by financial markets. When Genius Failed is the rise and fall of the giant hedge fund Long-Term Capital Management. Its principals involved the best of Wall Street and two of the inventors of the Nobel-winning option price formula. Famed for its expertise in financial modelling, the firm leveraged its bets to make large returns but only for a while. It became unstuck when Russia defaulted on its debts in the summer of 1998 and was only saved from failure by a Fed bailout, which thereby set a bad precedent for the future: favoured Wall Street firms that take excessive risks could expect to be bailed out at other people’s expense. The LTCM fiasco shows the limits of academic modelling of financial markets, not least because even if the academic modelling is initially correct, it fails to account for the ways in which markets adapt…

When Genius Failed

By Roger Lowenstein,

Why should I read it?

2 authors picked When Genius Failed as one of their favorite books, and they share why you should read it.

What is this book about?

Picking up where Liar's Poker left off (literally, in the bond dealer's desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners.

Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street's brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold standard in investing. It was to be the hedge fund to end all other hedge funds: a…


More Money Than God

By Sebastian Mallaby,

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

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.

More Money Than God

By Sebastian Mallaby,

Why should I read it?

1 author picked More Money Than God as one of their favorite books, and they share why you should read it.

What is this book about?

The first book of its kind: a fascinating and entertaining examination of hedge funds today Shortlisted for the Financial Times/Goldman Sachs Business Book of the Year Award 'An enormously satisfying book: a gripping chronicle of the cutting edge of the financial markets and a fascinating perspective on what was going on in these shadowy institutions as the crash hit' Observer Wealthy, powerful, and potentially dangerous, hedge-find managers have emerged as the stars of twenty-first century capitalism. Based on unprecedented access to the industry, More Money Than God provides the first authoritative history of hedge funds. This is the inside story…


What I Learned Losing a Million Dollars

By Jim Paul, Brendan Moynihan,

Book cover of What I Learned Losing a Million Dollars

It is a shame the author of this book died in the 9/11 World Trade Center terrorist attack because I always wanted to hear more from him. As with most of the books on this list, for me the details of what he did (did he enter with moving averages? How did he apply stochastics to his entry signals? Etc.) are not nearly as important as his mental state of mind. What did he feel like losing $1 million? How did he recover mentally? For me, being a good trader involves dealing with losses, and this book does a superb job of detailing how one trader did just that.

What I Learned Losing a Million Dollars

By Jim Paul, Brendan Moynihan,

Why should I read it?

2 authors picked What I Learned Losing a Million Dollars as one of their favorite books, and they share why you should read it.

What is this book about?

Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it all-his fortune, his reputation, and his job-in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors. This book-winner of a 2014 Axiom Business Book award gold medal-begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the…


The Great Crash 1929

By John Kenneth Galbraith,

Book cover of The Great Crash 1929

What does a book written in the 1950s about a financial crash in the 1920s have to tell us about modern finance? The answer is ‘everything you need to know.’ This financial classic, barely 200 pages long, shows how greed, hubris, and illusion brought about Wall Street’s first great crash. Today’s financial products might be more complicated than those in Galbraith’s book but the tricks of the trade are not. This elegant account is a ‘must-read’ for anyone wanting to understand the people and institutions who drive markets.        

The Great Crash 1929

By John Kenneth Galbraith,

Why should I read it?

3 authors picked The Great Crash 1929 as one of their favorite books, and they share why you should read it.

What is this book about?

'One of the most engrossing books I have ever read' Daily Telegraph

John Kenneth Galbraith's now-classic account of the 1929 stock market collapse remains the definitive book on the most disastrous cycle of boom and bust in modern times.

Vividly depicting the causes, effects, aftermath and long-term consequences of financial meltdown, Galbraith also describes the people and the corporations who were affected by the catastrophe. With its depiction of the 'gold-rush fantasy' ingrained in America's psychology, The Great Crash 1929 remains a penetrating study of human greed and folly.


Less Than Zero

By Bret Easton Ellis,

Book cover of Less Than Zero

Most people know Brett Easton Ellis as the author behind American Psycho, the brilliant and often misunderstood satire about the nihilism of Wall Street culture. With all the controversy and misconceptions around that book, all too many readers neglect to read his first masterpiece, Less than Zero.

Ellis wrote this book when he was twenty years old, which is an incredible feat. As someone who has seen the corrupt, nihilistic, and cynical world of the rich and dysfunctional from the inside, I find this book to be not only spot on but exceedingly frightening. The world that he describes is very much based on the one where he grew up, a world where nobody really cares about anything or anyone, and where the only thing that matters is your trust fund and your drugs.

Less Than Zero

By Bret Easton Ellis,

Why should I read it?

4 authors picked Less Than Zero as one of their favorite books, and they share why you should read it.

What is this book about?

NEW YORK TIMES BESTSELLER • The timeless classic from the acclaimed author of American Psycho about the lost generation of 1980s Los Angeles who experienced sex, drugs, and disaffection at too early an age. • The basis for the cult-classic film "Possesses an unnerving air of documentary reality." —The New York Times
They live in a world shaped by casual nihilism, passivity, and too much money in a place devoid of feeling or hope. When Clay comes home for Christmas vacation from his Eastern college, he re-enters a landscape of limitless privilege and absolute moral entropy, where everyone drives Porsches,…


The Big Sleep

By Raymond Chandler,

Book cover of The Big Sleep

Most don’t think “comedy” when they think of Chandler, but I include his debut here to honor the sly wit behind the hard-boiled PI voice Chandler famously invented. Before him, nobody wrote sentences like, Neither of the two people in the room paid any attention to the way I came in, although only one of them was dead, but after him, every crime writer wanted a sprinkle of that. Of course, Chandler’s the all-time, undisputed champion of the simile, so adroit, so confident, that it’s okay if sometimes it feels like he’s playing beyond our grasp. She was as sore as an alderman with the mumps—what could that even mean? Beats me, but it’s enough to trust that Chandler knows, and somehow I’m smiling.  

The Big Sleep

By Raymond Chandler,

Why should I read it?

15 authors picked The Big Sleep as one of their favorite books, and they share why you should read it.

What is this book about?

Raymond Chandler's first three novels, published here in one volume, established his reputation as an unsurpassed master of hard-boiled detective fiction.

The Big Sleep, Chandler's first novel, introduces Philip Marlowe, a private detective inhabiting the seamy side of Los Angeles in the 1930s, as he takes on a case involving a paralysed California millionaire, two psychotic daughters, blackmail and murder.

In Farewell, My Lovely, Marlowe deals with the gambling circuit, a murder he stumbles upon, and three very beautiful but potentially deadly women.

In The High Window, Marlowe searches the California underworld for a priceless gold coin and finds himself…


Extraordinary Popular Delusions and the Madness of Crowds

By Charles Mackay,,

Book cover of Extraordinary Popular Delusions and the Madness of Crowds

I got to write a Foreword to this one (albeit not the original 1841 edition), explaining why it has remained continuously in print. Technology races along, but human nature doesn’t change. To get some invaluable perspective on the irrationality of speculative behavior without having to lose a fortune yourself, read the first 100 pages or so.

Extraordinary Popular Delusions and the Madness of Crowds

By Charles Mackay,,

Why should I read it?

3 authors picked Extraordinary Popular Delusions and the Madness of Crowds as one of their favorite books, and they share why you should read it.

What is this book about?

Extraordinary Popular Delusions and the Madness of Crowds is a history of popular folly by Charles Mackay. The book chronicles its targets in three parts: "National Delusions," "Peculiar Follies," and "Philosophical Delusions." Learn why intelligent people do amazingly stupid things when caught up in speculative edevorse. The subjects of Mackay's debunking include alchemy, beards (influence of politics and religion on), witch-hunts, crusades and duels. Present day writers on economics, such as Andrew Tobias, laud the three chapters on economic bubbles.


The Art of War

By Sun Tzu, Skyhigh Publication (illustrator),

Book cover of The Art of War

I really hesitated putting The Art of War on my list. It is almost cliché as a lot of pretentious students of business and entrepreneurs will have a copy of this book prominently displayed in their office or listed as an influence in their professional profiles.

However, the lessons in this book are simple and profound. When you cannot win the battle, do not engage with the enemy. While these seem like simple common sense insights, all business leaders should revisit them in their most simplest terms. There are too many books and resources that will take one of the concepts from The Art of War and turn it into a thesis and completely water down the lessons at hand. 

To refine your entrepreneurial instinct, you should frequently revisit what it was built upon. The Art of War is the foundation.

The Art of War

By Sun Tzu, Skyhigh Publication (illustrator),

Why should I read it?

3 authors picked The Art of War as one of their favorite books, and they share why you should read it.

What is this book about?

Note: The chapters in the book are not in order and it is intentional.
This edition approved by the Holden-Crowther Organisation for Asian Studies.


Candlestick Charting for Dummies

By Russell Rhoads,

Book cover of Candlestick Charting for Dummies

Great trades come from market analysis, not hot tips on Reddit. Candlestick charts contain an enormous amount of information about market trends and activity. Learning charting takes some time, and this book is a great start. Whatever system you decide to follow, make notes of your trades. Plan them out, then note what worked and what didn’t. 

Candlestick Charting for Dummies

By Russell Rhoads,

Why should I read it?

1 author picked Candlestick Charting for Dummies as one of their favorite books, and they share why you should read it.

What is this book about?

Want to gain a trading edge with candlestick charts? Find them a little confusing? No worries! Candlestick Charting For Dummies sheds light on this time-tested method for finding the perfect moment to buy or sell. It demystifies technical and chart analysis and gives you the tools you need to identify trading patterns - and pounce! This friendly, practical, guide explains candlestick charting and technical analysis in plain English. In no time, you'll be working with common candlestick patterns, analyzing trading patterns, predicting market behavior, and making your smartest trades ever. You'll discover the advantages candlestick has over other charting methods…


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