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moneysense.ca, 5/07/10
Summer 2010 Reading List
It’s been a hot few days here in Ottawa and with a break from work coming up, I’m looking forward to crossing off some of the books in my reading list. Chances are I won’t get around to reading even one since I just started The Girl With the Dragon Tattoo, the first book in Steig Larsson’s Millennium trilogy, which runs close to 850 pages and promises to be a first-rate thriller. Still, here’s my list and if you have any suggestions, I’d love to hear it:
This Time is Different: Eight Centuries of Financial Folly by Carmen Reinhart and Kenneth Rogoff
We’ve just lived through a banking crisis and we are still dealing with a sovereign debt crisis. The authors promise a painstakingly-researched account of past financial crises going back to the 1350s. While this book sounds a lot more heavy duty than the Millennium trilogy, it would be instructive to see what the past informs us on the interesting times we live in.
Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System by Mark Williams
You’d think that Wall Street would wise up after eight hundred years of financial folly but you’d be wrong. The collapse of Lehman Brothers almost took down the world financial system with it. I’ve already read two forgettable accounts of Lehman’s collapse and still waiting to read the definitive account of what happened. I received a copy of this book from the publisher and I’m hoping this book will succeed in answering the simple question: “Why did Lehman fail?”
The Power of Gold: The History of an Obsession by Peter L. Bernstein
As Bernstein notes in the Prologue, “Gold has motivated entire societies, torn economies to shreds, determined the fate of kings and emperors, inspired the most beautiful works of art, provoked horrible acts by one people against another, and driven men to endure intense hardship in the hope of finding instant wealth and annihilating uncertainty”. This is its story.
Outliers by Malcolm Gladwell
Yes, this is not really a recent book but I’ve been meaning to read Outliers for a long time. And come to think of it, I haven’t read Tipping Point either. And even though, I’m not sure that luck plays a huge part in success is an earth-shattering revelation, you can trust Gladwell to spin a charming yarn.
The Upside of Irrationality by Dan Ariely
I loved Predictably Irrational (my review is available here) and I’m keen to find out what “surprising negative and positive effects irrationality can have on our lives”. Prof. Ariely is an excellent writer and if this book is half as good as his first one, it would be well worth the time.
moneysense.ca, 5/07/10









Outliers is awesome… much better than tipping point.
I also thought Lords of Finance is pretty relevant…
i’m reading: Market Wizards by Jack D Schwager, The Ascent of Money by Niall Ferguson & The Big Short by Michael Lewis
enjoy!
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@takloo: I liked The Big Short. Fascinating book. I’ll keep in mind the rest. Thanks for your suggestions.
Ahh…reading. I remember doing that.
I read Outliers – excellent.
Most of my reading tends to be the paperback detective/serial killer type books. No financial stuff involved.
The new Daniel Ariely book isn’t as strong as his first, but worth the read.
Struct by Lightning (written by a math professor) is pretty good.
Rob
Never heard of that Bernstein book: The Power of Gold: The History of an Obsession.
I definitely have to pick that up. Sounds intriguing.
It’s always refreshing, in the unhurried atmosphere of a summer day, to linger over some of the choice passages in the “investment classics” such as A Random Walk Down Main Street, Four Pillars of Investing, The Intelligent Investor, Unconventional Success, The Only Guide to a Winning Investment Strategy You’ll Ever Need, etc.
“The Ascent of Money by Niall Ferguson”
They also made a 4 part tv series by that same name, narrated by professor Ferguson. Found it quite interesting, it seems to get replayed on PBS every few months.
Found the link to all 4 programs on the PBS site… http://video.pbs.org/video/1170821435/#
Thanks for the list CC!
1. I give as many thumbs up as you can count to “Salt: A World History” by Mark Kurlansky.
It covers over 5000 years of the history of salt and is written in a marvelous way that captivates. The book was nearly impossible for me to put down, even the 2nd time I read it. Yes, I read it two times (about 1 year apart), it is so brilliant.
I am a history buff, but had no interest in salt before reading this book. Since reading it, I have become somewhat infatuated with salt and the importance it has had on civilization. This book, and the information gained from reading it, inspired my blog title.
2. For some lighter reading, I always love reading about the heat in the summer. Specific recommendations would be:
“The Sun Also Rises,” or “Green Hills of Africa,” by Hemingway,
“The Great Gatsby,” by Fitzgerald,
“The Stranger,” or “A Happy Death,” by Camus,
“The Earth,” by Zola or
(if you are not terribly conservative), “The Immoralist” by Gide.
Maybe it’s just me, but reading about characters that are sweating in places like Africa or Spain makes me feel cooler.
Cheers,
Myke
@Money Smarts: Yeah, it’s highly likely I won’t get around to these books next week. The Millennium trilogy is excellent and I’ll probably move on to the next two books.
@Rob: Okay, the Ariely book goes to the bottom of the pile. I suppose Predictably Irrational is a tough act to follow.
@Larry: Agree. It’s a while since I read The Intelligent Investor cover-to-cover, so perhaps it’s time to do that.
@GSP: I’ll be sure to check out the PBS Videos. I’ve put in a request for the Ferguson book. Thanks.
@Myke: I love history as well and I’ve already put in a request for the Salt book. Thanks for your suggestion.
As an aside, the Ottawa Public Library system is simple awesome. The library carries most of the books mentioned here and all it takes is a few mouse clicks to put in a request.
His CC,
Glad to hear. Actually, I was going to mention the book to you a while back when you posted about some historical tax avoidance strategies, and one of them involved salt.
Let me know what you think of the book. No rush, obviously.
Myke