The best stockbroker books

1 authors have picked their favorite books about stockbrokers and why they recommend each book.

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Liquidated

By Karen Ho,

Book cover of Liquidated: An Ethnography of Wall Street

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…


Who am I?

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!


I wrote...

Trading at the Speed of Light: How Ultrafast Algorithms Are Transforming Financial Markets

By Donald Angus MacKenzie,

Book cover of Trading at the Speed of Light: How Ultrafast Algorithms Are Transforming Financial Markets

What is my book about?

In today’s financial markets, trading floors on which brokers buy and sell shares face-to-face have been replaced by lightning-fast electronic systems that use algorithms to execute astounding volumes of transactions. Trading at the Speed of Light tells the story of this epic transformation. MacKenzie shows how in the 1990s, in what were then the disreputable margins of the financial system, a new approach to trading—automated high-frequency trading or HFT—began and then spread globally. HFT has brought new efficiency to trading, but has also created an unrelenting race for speed, leading to a systematic, subterranean battle among HFT algorithms.

Trading at the Speed of Light offers a unique glimpse into HFT’s influence on global finance and where it could lead us in the future.

Market Wizards

By Jack D. Schwager,

Book cover of Market Wizards: Interviews with Top Traders

There are quite a few titles in the Market Wizards book collection, but my personal favorite is still the first of the series. In the book, Jack interviews different successful traders and investors. You’ll get to learn the basics of what they did (I personally know of one reader who started a successful hedge fund after reading one chapter of this book), but more importantly, you will be able to understand and explore the mindset of winning traders. Reading this book will help you mimic the behavior of some of the great traders of our time.


Who am I?

I have been trading for over 30 years now, and I was lucky to be one of the part-time “hobby” traders to be successful enough to trade full time. Along the way, I was a 3-time trophy winner in the world’s premier real time, real money futures trading contest. My passion is trading, both for my personal accounts and in assisting my students with their trading. While I always say “trading is the hardest way to make easy money” this field is my lifelong passion.


I wrote...

Entry and Exit Confessions of a Champion Trader: 52 Ways A Professional Speculator Gets In And Out Of The Stock, Futures And Forex Markets

By Kevin J. Davey,

Book cover of Entry and Exit Confessions of a Champion Trader: 52 Ways A Professional Speculator Gets In And Out Of The Stock, Futures And Forex Markets

What is my book about?

Are you looking for trading entry and exit ideas for your trading strategies? If so, this book is just what you need. This informative guide includes 41 entry ideas, 11 exit ideas, and code in Tradestation format and plain English for each (NinjaTrader 7 and 8 code available in the complimentary Book Bonuses described in the book).

Each entry and exit has been used in actual strategies by Champion trader Kevin J. Davey. Also included are detailed steps for how best to incorporate these entries and exits into your own trading. Start building strategies today with these fully described entries and exits!

The Disciplined Trader

By Mark Douglas,

Book cover of The Disciplined Trader: Developing Winning Attitudes

Mark Douglas’ book focuses on practical tools and techniques to counter the gambling mentality that typifies speculative trading. He focuses on a more rational, math-based approach to participation in markets as a speculator. Although I was already a successful trader by the time I’d read Mark’s book, it reinforced that the tools and techniques I had developed to dampen emotionalism in the markets were sound.


Who am I?

Richard L. Weissman is one of the world’s foremost authorities and thought leaders in the fields of derivatives, risk management and technical analysis. He is the author of two books: Mechanical Trading Systems: Pairing Trader Psychology with Technical Analysis (Wiley, 2004) and Trade Like a Casino: Find Your Edge, Manage Risk and Win Like the House (Wiley, 2011) which was a finalist for the 2012 Technical Analyst Book of the Year Award. Mr. Weissman has over thirty years experience as a derivatives trader and has provided training and consultation services to traders and risk managers at investment banks, hedge funds, energy, and agricultural companies for over twenty years. 


I wrote...

Trade Like a Casino

By Richard L. Weissman,

Book cover of Trade Like a Casino

What is my book about?

A detailed look at the common characteristics found in most successful traders While there are a variety of approaches to trading in the financial markets, profitable traders tend to share similar underlying characteristics. Most have a methodology that they believe will prove profitable over the long run and are willing to endure short-term setbacks. If you're looking to make the most of your time in today's markets, you need to understand what separates the best from the rest. And with Trade Like a Casino, you'll gain the knowledge needed to excel at this challenging endeavor.

Out of the Pits

By Caitlin Zaloom,

Book cover of Out of the Pits: Traders and Technology from Chicago to London

Chicago’s famous ‘open-outcry’ trading pits were packed with hundreds of traders making deals with each other using eye contact and hand signals, or simply shouting out their bids and offers. Anthropologist Caitlin Zaloom did something quite extraordinary. She studied these pits ‘from the inside’ (as a trader’s clerk) and then went on to examine the electronic trading that was starting to replace them – herself becoming a trader. Her book represents anthropology at its most skilled and offers a fascinating glimpse of the lost world of face-to-face trading (nearly all of Chicago’s pits are now closed). 

I researched Chicago’s pits myself in the years in which they still flourished, but not in the depth that Zaloom achieved. I’m in awe of her fabulous fieldwork.


Who am I?

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!


I wrote...

Trading at the Speed of Light: How Ultrafast Algorithms Are Transforming Financial Markets

By Donald Angus MacKenzie,

Book cover of Trading at the Speed of Light: How Ultrafast Algorithms Are Transforming Financial Markets

What is my book about?

In today’s financial markets, trading floors on which brokers buy and sell shares face-to-face have been replaced by lightning-fast electronic systems that use algorithms to execute astounding volumes of transactions. Trading at the Speed of Light tells the story of this epic transformation. MacKenzie shows how in the 1990s, in what were then the disreputable margins of the financial system, a new approach to trading—automated high-frequency trading or HFT—began and then spread globally. HFT has brought new efficiency to trading, but has also created an unrelenting race for speed, leading to a systematic, subterranean battle among HFT algorithms.

Trading at the Speed of Light offers a unique glimpse into HFT’s influence on global finance and where it could lead us in the future.

The Bonfire of the Vanities

By Tom Wolfe,

Book cover of The Bonfire of the Vanities

I read this BIG book many years ago, but it influenced my own writing greatly. Tom Wolfe's scathingly jaundiced view of the workings of Wall Street and the American political scene is an object lesson on how to write with anarchic abandon, yet brilliant satirical and intellectual insight at the same time. Once again I go back to the theme that the best authors always have an ironic eye on their subject and its participants, surveying them and their eccentricities with objectivity and often cynical amusement. If you can keep your readers amused whilst at the same time enthralled, as Wolfe does, then you have pulled off a difficult feat.


Who am I?

My writing is eclectic and covers many topics. However, all my books tend to have a thriller element to them. Perhaps it's my career as an actor and playwright which has instilled the need to create suspense in all my writings. I sometimes feel that distinguished authors can get so carried away with their literary descriptions and philosophical insights that they forget to keep the story going! It is the need to know what happens next that keeps the reader turning the pages. Perhaps in achieving that some subtlety has to be sacrificed, but, hey, you don't read a political thriller to study the philosophical problems of governing nations!


I wrote...

Number Ten

By Robin Hawdon,

Book cover of Number Ten

What is my book about?

Suspense, romance, and high action in an explosive political thriller. A junior aide to the British Prime Minister is falsely implicated in an assassination attempt, and has to fight for his life against unknown forces, using only his inside knowledge of Number Ten's operations and the help of a female insider.

“Wow! Number Ten begins in explosive fashion and maintains a high-octane, fast pace until the very last word. A glorious thriller that kept me enthralled throughout.” Linda Hill (top 500 Amazon reviewer)

Buffett

By Roger Lowenstein,

Book cover of Buffett: The Making of an American Capitalist

There have been newer books on Warren Buffett since this 1995 gem, but this one goes the deepest into the mechanisms that have brought Buffett a $124 billion fortune. Plus it’s the best on Buffett’s quirky personality. I’ve known Roger from our days at The Wall Street Journal together, and it was exciting seeing him research this project over a three-year span – even if Buffett never officially helped him. The finished book made me feel I “knew” Buffett as if he were a long-time neighbor. 


Who am I?

My first job after college was at The Wall Street Journal, working evenings as a copyreader. It was thrilling to enter a big-league newsroom, but torture to be confined to putting tiny headlines on even tinier stories. Then at age 23, after a whirlwind staff shuffle, I started writing the paper’s premier stock-market column, “Heard on the Street.” Daylight had arrived. For the next 11 years, I covered finance. I met billionaires and people en route to prison. It wasn’t always easy to tell them apart! My writing career has widened since then but sizing up markets – and the people who rule them – remains an endless fascination. 


I wrote...

Merchants of Debt: KKR and the Mortgaging of American Business

By George Anders,

Book cover of Merchants of Debt: KKR and the Mortgaging of American Business

What is my book about?

What’s the key to making it big on Wall Street? Yes, being really smart, really well-connected, or incredibly driven does help – but it’s not the only path. Instead, subtler factors let a few people climb faster and higher than all the rest. This book, Merchants of Debt, delivers the ultimate how-they-did-it biography of KKR and its founders. It captures the allure and the alarm of the whole private equity movement, as seen in the rise of legendary takeover financiers George Robert and Henry Kravis. You’ll enjoy the drama, and you’ll learn a new set of skills (“How to talk to banks,” etc.) that can transform your own career.

The Moviegoer

By Walker Percy,

Book cover of The Moviegoer

The Moviegoer was the first novel I read which had little plot and a great deal of meaning. Basically, it’s about one man’s search for meaning in a world which values shallowness and consumerism above all else. It’s as relevant today as it was when written and the prose is amazing!


Who am I?

I’ve been drawn to thought-provoking novels from my early days as a reader, and especially later when my own work took shape. My books tend to deal with life’s big topics––love, loss, creativity, self-discovery, aging, forgiveness, what it means to be a good man, and the climate crisis––so I tend to gravitate to ambitious novels focused on how we humans might evolve in a healthy way. My characters do have flaws, many of them, but in the end, they are resilient and figure out a way to take a step forward. All of the books I mentioned are similar in scope and approach.


I wrote...

The Latecomers

By Rich Marcello,

Book cover of The Latecomers

What is my book about?

Maggie and Charlie Latecomer, at the beginning of the last third of their lives, love each other but are conflicted over what it means to age well in a youth-oriented society. Forced into early retirement and with grown children in distant cities, they've settled into a curbed routine, leaving Charlie restless and longing for more. When the Latecomers and their friends discover a mystical book of indecipherable logographs, the corporeal world and preternatural world intertwine. They set off on a restorative journey to uncover the secrets of the book that pits them against a potent corporate foe in a struggle for the hearts and minds of woman and men the world over.

A treatise on aging, health, wisdom, and love couched in an adventure, The Latecomers will make readers question the nature of deep relationships and the fabric of modern society.

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