What would you guys recommend for reading, more specifically for material that might be relevant for future exams (just took level I) or for a profession in ER or investing? Basically any finance books you guys have found interesting and a decent read. Thx
Brealey & Myers’ “Fundamentals of Corporate Finance” is pretty good.
Harry Potter and the Sorcerer’s Stone Angels & Demons and Jim Cramer books are also amazing
ZeroBonus Wrote: ------------------------------------------------------- > Harry Potter and the Sorcerer’s Stone > Angels & Demons > and Jim Cramer books are also amazing You nailed two out of three.
Tparms Wrote: ------------------------------------------------------- > What would you guys recommend for reading, more > specifically for material that might be relevant > for future exams (just took level I) CFAI curriculum books. Other than that, audit a course in Fixed Income, Financial Statement Analysis, Derivatives, etc. at your local university if you have the time. or for a > profession in ER or investing? I think CFAI publishes an ER book called “Equity Research and Valuation Techniques” Basically any > finance books you guys have found interesting and > a decent read. Thx Brigham and Ernhardt’s “Financial Mnagement” is a good reference for financial theory and topics. But I took it as part of a course, and can’t really see myself just reading it for fun. Besides, Finance is too broad a term. Narrow it down a bit. That’s like me asking for books on “math”. Look at some of the books published by the Economist to give you some ideas. They have a wide selection of topics to choose from.
I just ordered the book “Best Practices for Equity Research Analysts: Essentials for Buy-Side and Sell-Side Analysts” by James J. Valentine, CFA. I have not read it yet, but my friend who is in Equity Research has said it is one of the best books on ER out there. It was around $60 off amazon so hopefully it lives up to the hype.
Fooled by Randomness may not help you prepare for the exam, but it made a bigger impression on me than any other book I can remember. I think everyone should read it several times.
One of the implicit lessons of it is that equity research is highly paid (or not so much, as the case may be) intellectual (or not so much, as the case may be) masturbation, at least as long as you have a large enough number of co-intellectual masturbators.
More Money Than God Inside the House of Money Two great books if you’re into trading at all.
Captain Windjammer Wrote: ------------------------------------------------------- > Fooled by Randomness may not help you prepare for > the exam, but it made a bigger impression on me > than any other book I can remember. I think > everyone should read it several times. Agreed
Financial Shenanigans should be required readings. Without understanding how to detect companies gaming reported numbers, most analyst’s just regurgitates what management said. A lot of research out there, when you distill it down to the basics, just basically says “Buy XYZ because based on management guidance earnings should be X and this is cheap based on industry average P/E of Y”
ASSet_MANagement Wrote: ------------------------------------------------------- > More Money Than God > Inside the House of Money > > Two great books if you’re into trading at all. Really? I thought More Money Than God was just going to be an argument against how much money hedge funds make and directed mainly at the general nonfinance public, from what I read of the introduction. Maybe I’ll look further into it…
Yeah, more money than god is indeed a good read. It’s a thick book, but it really dives deep in describing how the notable HFs in the past 50 years succeed, fail, and most of the time succeed again. The author is pro hedege fund, generally pro free market, and against regulation.
What to Expect When You’re Expecting
the art of war and kane & able
builders Wrote: ------------------------------------------------------- > What to Expect When You’re Expecting the unexpecteed
Zuran Wrote: ------------------------------------------------------- > Financial Shenanigans should be required > readings. > > Without understanding how to detect companies > gaming reported numbers, most analyst’s just > regurgitates what management said. > > A lot of research out there, when you distill it > down to the basics, just basically says “Buy XYZ > because based on management guidance earnings > should be X and this is cheap based on industry > average P/E of Y” Never read “Financial Shenanigans”, but I read “The Financial Numbers Game”. Excellent book for techniques on looking behind the accounting.
Posted these in another thread but got zero replied 
General 1. The Little book that beats the market (Joel Grenblatt) 2. Market Wizards (Jack D Schwager) 3. New Market Wizard (Jack D Schwager) 4. Beating the street (Peter Lynch) Valuation 1. Valuation 4th Ed (Mckinsey and Company) 2. Investment Valuations 2nd ed (Aswath Damodaran) Equity Research (Application) 1. Applied Equity Analysis (James English) 2. Best Practices for Equity Research Analysts (James J Valentine)
Tearing down the Walls, The Black Swan, The End of Wall Street, The Undercover Economist, Financial Shock
Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor -Seth Klarman Completely changed the way I view investing, you can find a pdf online, its out of print so used copies go for about $2k I will definitely check out those Greenblatt and Financial Shenanigans books