21 books like No One Would Listen

If there is one book I wish I’d written myself, it is How to Become a Really Good Pain in the Ass. One of the things I admired most about the people who shaped my education and career path most was their ability to listen carefully and ask critical questions that uncovered even more than what was first expressed. Christopher DiCarlo’s book is a manual to practicing these traits. The book provides all of the tools needed to question beliefs and assumptions held by those who claim to know what they’re talking about, while at the same time providing practical solutions for today’s world of misinformation. The book also convinced me that faulty reasoning can be spotted by asking the right sorts of questions—what better gift to give someone? 

James Alcock is the only social psychologist I know who could write a clear, accessible, and comprehensive volume on the psychology of belief—particularly how our thoughts and feelings, actions and reactions, respond not to the world as it actually is but to the world as we believe it to be. No matter how much you think you know about beliefs, and no matter what you actually believe, any reader will find surprises in Alcock’s treatise, such as why so many people cling to beliefs that are foolish, self-destructive, and wrong, believing them to be wise, self-protective, and right. Belief convinced me that faulty beliefs, arising from misapprehension about the cause of a disease, misperceptions of an enemy’s actions, misreading a lover’s motive, misconceptions about which, if any, gods are real, can lead to irrational, maladaptive, and sometimes deadly actions.

Michael Shermer systematically addresses why humans believe weird and extraordinary things. He even makes a case that we are hard-wired for it. Further—and this should make most of us feel better about our strange thinking—he shows how even highly intelligent people sometimes believe in pseudoscience and other extraordinary claims. 

I found Everything is Bullshit to be so interesting that I wasn’t able to put it down once discovered in a random, one-off, used bookstore. This book is a sleeping beauty. It opened my eyes to all the scams that big companies use and how they have the money and power to keep getting away with them. The explanations for why many of our society’s most cherished traditions are actually based on bullshit reasoning are well-researched and compelling. The book helped me understand why diamond engagement rings are so expensive, why wine is so expensive, how art becomes “art”, why non-profit organizations ask us to donate our cars to them, why college costs so much, and why so many pets die in animal shelters.

A history of hedge funds might seem like a weird recommendation by someone who has written a paean to passive investing.

But my favourite books use a subject to tell a much broader story, and Mallaby’s definitive book on the hedge industry manages to show how even the most illustrious investing careers can fizzle out as market regimes ebb and flow.  

A relatively new arrival on the list, Dreyfuss’s diligently crafted book is the most in-depth look at one of Wall Street’s most spectacular, if lesser-known, collapses in 2006.

The book takes us through the rise of two forces in energy trading embarking on a collision course that would be the ruin of one and an immense windfall of the other. Amaranth hedge fund was an up-and-comer and darling of the hedge fund space. Boasting stellar returns on its several billion in capital, it was able to raise massive sums to hand over to its wunderkind energy trading guru, the Canadian Brian Hunter.

Hunter had set out to dethrone John Arnold at Centaurus (the former Enron whiz kid and youngest member of the Forbes 400) as the biggest energy derivatives trader on the Street. Hunter’s ego soon got him into trouble when a series of disastrous and massively overleveraged bets collapsed,… show more.

This is a beautifully written story about bankers who rise, and fall spectacularly – into crime, in this case insider trading, with the loss of money, status, and prestige that followed.

What’s particularly fascinating is the historical, ethnic, and sociological backdrop. The book begins with a scene in which Indian-born Rajat Gupta, having come to the US and ascended to the highest echelons of the US business world, was attending a White House dinner for India’s Prime Minister.

The book ends as some people who had been on top are dealing with the aftermath of trials that went very badly for them. The word “Shakespearean” has been used to describe this book, and aptly so.

This fascinating read tells the story of the rise and then spectacular fall of the once celebrated hedge fund Long-Term Capital Management.

What made LTCM so attractive to Wall Street investors was its stable of "dream team" quants and financial minds, led by the laconic John Merriweather. Merriweather (featured in the opening Chapter of Liar's Poker) was a former Solomon Brothers bond-trading guru, who after leaving the firm amid a scandal managed to assemble a team of financial powerhouses that included two Nobel Laureates as well as a cadre of respected traders.

From 1993 to 1997 LTCM's returns were first-rate; the sky seemed the limit for this small band of supertraders, professors, and modelers who arrogantly considered themselves a cut above the rest of The Street.

But in 1998, it all came crashing down...and right quick. Having believed their financial models could accurately predict price action not just in… show more.

I started working at Depository Trust Company in New York in September 1987 – a month later the “Black Monday” stock market crash happened! At the time, it was very difficult to see exactly what caused it. “When you are up to your neck in alligators, it is hard to remember why you drained the swamp!” This book explains how Wall Street banks hatched all those alligator eggs by hiring MIT math-whizz-kids and turning them loose without explaining the simplest thing about the stock market to them. One of the errors in their models was that they did not take bank holidays into account when calculating the time value of stocks and option prices.

In Storm Lake, published in 2018, Pulitzer-winning editor, publisher, and author Art Cullen writes with passion, insight and humor about immigration, family, community and the history and future of this part of Iowa – and, to an extent, much of America.

His family’s newspaper, the Storm Lake Times Pilot, serves as a model for local coverage and investigative reporting in an era when hedge funds and out-of-town chains have left many parts of the country without newspapers or with “ghost papers,” shells of their former selves.