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books on trading

megaman123megaman123 Registered User Posts: 2,189 Senior Member
edited June 2008 in Business Major
Hi. I'm almost done reading market wizards by Schwager,and I was wondering if you guys could recommend any other books on trading? I want to get a general overview of the field before applying for some internships this upcoming year. Thanks
Post edited by megaman123 on

Replies to: books on trading

  • megaman123megaman123 Registered User Posts: 2,189 Senior Member
    come on, someone
  • BCEagle91BCEagle91 Registered User Posts: 22,762 Senior Member
    Technical Analysis of the Financial Markets by John Murphy.

    And learn how to read financial statements.
  • megaman123megaman123 Registered User Posts: 2,189 Senior Member
    thanks. anything else? something more of a casual read? (to complement technical analysis...by Murphy)
  • CalcruzerCalcruzer Registered User Posts: 4,832 Senior Member
    These are old, but still the best books out there:

    The Intelligent Investor--by Benjamin Graham

    One Up on Wall Street--by Peter Lynch

    For those unfamiliar with the authors, Benjamin Graham invented "value investing" and was a longtime professor at the Wharton School (University of Pennsylvania). Warren Buffett considers him the "single expert on making money" ever.

    Peter Lynch is now the Chairman Emeritus at Fidelity Investments and used to run Fidelity's Magellan fund, whose per unit value increased 30-fold during the 1980s.

    If you want something more recent, try "Rule One" by Phil Town
  • BCEagle91BCEagle91 Registered User Posts: 22,762 Senior Member
    Peter Lynch also did wonderful things for Boston College's endowment way back when.

    Warren Buffett took his company from about $40 to $50 a share to around $133,000 a share over a longer period of time. I don't know if there's anyone out there with a better track record. He often sprinkles his wisdom and advice in the annual reports of Berkshire Hathaway and that make for some interesting casual reading. There was one particular year that I liked where he explained the insurance business in detail and his philosophy in running Berkshire.
  • gxinggxing Registered User Posts: 1,915 Senior Member
    liar's poker - michael lewis
    when genius failed - roger lowenstein
    a random walk down wall street - burton malkiel, more academic
  • BCEagle91BCEagle91 Registered User Posts: 22,762 Senior Member
    The movie: Wall Street.
  • C-RevsC-Revs Registered User Posts: 849 Member
    Really enjoyed all three of gxing's suggestions:

    Liar's Poker, When Genius Failed & A Random Walk Down Wall Street.

    Good reads.
  • TahoeTahoe Registered User Posts: 754 Member
    "The Little Book That Beats the Market" - Joel Greenblatt
  • Mr PayneMr Payne Registered User Posts: 8,850 Senior Member
    How are these books on trading?
    Liar's Poker, When Genius Failed & A Random Walk Down Wall Street.
  • megaman123megaman123 Registered User Posts: 2,189 Senior Member
    ^could you recommend some then, please?
  • C-RevsC-Revs Registered User Posts: 849 Member
    Liar's Poker is a look into the atmosphere of sales & trading at Solomon Brothers. Outdated and embellished, yes, but a glimpse of the field.

    When Genius Failed is great because its extremely interesting, explains the LTCM debacle, and what went wrong. The fund was a combination of many brilliant minds to create mathematical and statistical arbitrage trades.

    A Random Walk Down Wall Street isn't technically about trading, more investing, but some of the concepts and analysis is helpful for at least getting your feet wet in the field.

    The OP said he wanted to get an idea of the field, not a step-by-step manual, so I think they are all relevant, and readable/enjoyable. That's why I recommended them.
  • clock26clock26 Registered User Posts: 79 Junior Member
    I would add that books like Liar's Poker and When Genius Failed are more of a "story". They talk about the field and all.

    Both The Intelligent Investor and ARWDWS offer views on how to invest. Personally, I don't believe in the inefficient market theory, but it is what it is.
  • Mr PayneMr Payne Registered User Posts: 8,850 Senior Member
    If we are just mentioning cool books I'd recommend Fooled By Randomness, Black Swan, Why Most Things Fail, & Confessions of a Street Addict.
  • BCEagle91BCEagle91 Registered User Posts: 22,762 Senior Member
    There's a rather interesting article on Bloomberg this morning on Goldman and Morgan Stanley trading in commodities to generate profits while others are struggling. Trading your way out of a jam isn't recommended for individual investors but Goldman seems to be the best in this sort of thing.

    Bloomberg.com: Exclusive
This discussion has been closed.