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Asset Management Finance Library

Finance Library

The canon of finance literature is vast, with hundreds more publications emerging every year. This section distills the main lessons from most influential finance books both past and present, from the cornerstones to the most popular reads. Each summary includes a concise overview and analysis of the book's most distinctive contributions to management thinking and practice, along with bibliographic information for the featured title and related works by the author.

  • A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing
    Burton G. Malkiel (10th ed 2012, originally 1973)
    An investing classic that is also an entertaining read, this is a concise guide for the novice that challenges all preconceptions about investing. Shows how to manage money effectively regardless of personal income, savings, and age, and that diversification is critical to investment success. Also of interest to professionals, as it discusses aspects of investment such as the random walk hypothesis, the efficient market hypothesis, and portfolio...
  • Absolute Returns: The Risk and Opportunities of Hedge Fund Investing
    Alexander M. Ineichen (2003)
    A non-technical, yet sophisticated examination that shows investors how to make educated decisions about hedge fund investment. Presents a wide-ranging and detailed examination of hedge funds, which have been much in the headlines, especially due to large failures such as with Long-Term Capital Management. Considers the astonishing success of some hedge fund managers, but also points out the common misconceptions, and the risks as well as the...
  • Common Stocks and Uncommon Profits
    Philip A. Fisher (1958)
    Known as the father of qualitative analysis, Fisher is one of the most influential investors; his philosophies are considered timeless, and are still being applied by today’s financiers and investors such as Warren Buffett. Expounds the importance and success of value investing, which laid the foundation for many of today’s investment principles. Considers that the investor should always think in the long term, buy what they understand, and own...
  • Damodaran on Valuation: Security Analysis for Investment and Corporate Finance
    Aswath Damodaran (2nd ed 2006, originally 1994)
    Combining analysis of both the theory and practice of business valuation, this is a highly regarded text on how to best measure the value of a particular asset. Damodaran has a great reputation as a teacher and authority, and he here critically evaluates the leading valuation models to help pick the right model for any scenario. Provides practical frameworks for addressing the key issues of company valuation.
  • How the Stock Market Works: A Beginner’s Guide to Investment
    Michael Becket (4th ed 2012, originally 2002)
    Introduces the stock market, from defining shares, to all the major financial products, trading, investing, share picking, understanding company accounts, and the markets. Provides all the information and advice necessary to start investing in the markets, explained in simple language. With the current problems in the stock exchanges, it is even more important to have the correct information for trading.
  • Inefficient Markets: An Introduction to Behavioral Finance
    Andrei Shleifer (2000)
    Provides a broad introduction to the current opportunities and challenges in behavioral finance, the study of how people make decisions under financial uncertainty. Useful for those responsible for managing money or involved in trading in the financial markets. Presents a model of investor sentiment regarding individual decision-making under conditions of uncertainty.
  • Investments
    Zvi Bodie, Alex Kane, and Alan J. Marcus (9th ed 2010, originally 1989)
    Introduces financial concepts, markets, and instruments; shows how to develop a basic finance toolbox, and how to apply it in a portfolio setting. Analyzes all the core concepts in investment, and explains market structure and environment. Blends practical and theoretical coverage, and is useful for those wanting to develop a greater knowledge of portfolio theory.
  • Monkey Business: Swinging Through the Wall Street Jungle
    John Rolfe and Peter Troob (2000)
    Gives a searing expose of the life of investment bankers in a mergers and acquisitions department at a leading Wall Street bank. Through personal stories and anecdotes, we learn about the processes and practices of young investment bankers, as well as the boredom and drudgery of their daily lives—which is far from the glamour that led them to apply in the first place. Reveals the macho mentality of their workplace, the invective, belittling of...
  • More Money than God: Hedge Funds and the Making of the New Elite
    Sebastian Mallaby (2010)
    Provides a detailed look at the hedge fund industry, the type of people that work in it, and of their successes and failures. Shows how hedge funds have revolutionized the world of finance and the global economy. Shortlisted for the 2010 Financial Times and Goldman Sachs Business Book of the Year award and a New York Times bestseller.
  • My Life as a Quant
    Emanuel Derman (2004)
    An honest and engaging account of the author’s life, career, and experiences as a physicist and in quantitative finance. Shows how and why Derman made the transition from academia to Wall Street, and details the differences between the two worlds. Analyzes how the quantitative finance industry evolved, and its place in the investment community.
  • One Up on Wall Street: How to Use What You Already Know to Make Money in the Market
    Peter Lynch (1989)
    An introduction to the stock market, and what to look for when investing your money, without relying on what the experts tell you. Presents the author’s proven strategies and principles on stock investing in a readable manner. Argues that small investors can research stocks better than most professionals, and that they should focus on quality, undervalued companies they can understand, and use common sense to identify those that will grow.
  • Portfolio Selection: Efficient Diversification of Investments
    Harry M. Markowitz (2nd ed 1991, originally 1959)
    An acknowledged classic in the evolution of modern finance by a Nobel Prize-winning academic. A practical starting point for anyone interested in the efficient management and diversification of financial portfolios. Introduces the concepts around portfolio management and explains them in an easily understandable way.
  • Portfolio Theory and Capital Markets
    William Sharpe (1970)
    A classic text on investment and portfolio theory, it presents Sharpe’s groundbreaking work on the capital asset pricing model (CAPM). It examines how the financial markets operate and how investors can best deal with the uncertainties of pricing and risk. Still relevant today for investors and portfolio managers choosing investment portfolios.
  • Reminiscences of a Stock Operator
    Edwin Lefèvre (1923)
    Remains the most widely read, highly recommended investment book ever written. Provides a highly entertaining account of a famous and successful speculator’s career in the markets of the early 1900s. Offers insights into the workings of “bucket shops” from the turn of the century until the 1920s.
  • Stocks for the Long Run: The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies
    Jeremy J. Siegel (5th ed 2013, originally 1994)
    Siegel is one of the most respected investment strategists, and he here updates his most famous book to cover today’s financial world and markets. Is of benefit to professional investors, as well as those new to investing and wanting to know how the market works. Takes a long-term approach to value investing, arguing that you have to be in it for the long haul to be successful.
  • Take On the Street: What Wall Street and Corporate America Don’t Want You to Know
    Arthur Levitt (2002)
    Describes how the US securities markets work, their differences, the relationships within them, and why they act as they do. Explains the relationship between brokers, analysts, corporations, and politicians. A guide to what is happening with an investor’s money and how it is possible to maintain control of it.
  • Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications
    John J. Murphy (1999)
    Offers a clear and concise explanation of the underlying concepts and practical uses of technical analysis in a way that anyone approaching the markets can understand. Provides a guide to understanding and interpreting stock and commodity charts, and stock market movements. Covers all the essentials for learning how to use technical analysis, before tackling the more advanced principles and the linkages between them.
  • The (Mis)behavior of Markets
    Benoit Mandelbrot and Richard L. Hudson (2004)
    The founder of fractal geometry re-evaluates the standard tools and models of modern financial theory. Examines how the traditional finance models originated, arguing that, since financial markets are unpredictable and far riskier than first thought, it is necessary to find alternatives. Presents a different method of predicting stock price movements, founded on his fractal theories.
  • The Alchemy of Finance: Reading the Mind of the Market
    George Soros (1987)
    Gives insight into Soros’s investment strategies, and the decision-making processes of the most successful money manager of our time. Depicts how he ran the hugely successful Quantum Fund in the mid-1980s, giving examples of his approach and lessons in how to make money in times of uncertainty. He recommends his technique of being adaptive and flexible, as there is no way of knowing how any market situation will turn out.
  • The Black Swan: The Impact of the Highly Improbable
    Nassim Nicholas Taleb (2007)
    Discusses how Black Swans—large-scale random occurrences—and chance and luck affect everyday life, and how you cannot predict the future from what happened in the past. Explains why we cannot predict large events in life and argues that we should stop trying to forecast them and start taking advantage of the uncertainty. Combines an examination of financial theory with Taleb’s own philosophy, and provides an account of growing up in war-torn...
  • The Intelligent Investor
    Benjamin Graham (1949)
    Presents many of the principles of investing that the author created and taught, and which investors still use today. Graham was a mentor to Warren Buffett, who developed many of the methods covered in this book to make his fortune. Shows how to excel at making money in the stock market without taking big risks, centered round his concept of margin of safety.
  • The Money Game
    Adam Smith (1976)
    An influential and thought-provoking book about money and how to make it, based on the experiences of a Wall Street insider. A classic book, oft-quoted by investors, that foreshadows almost every major investment paradox or problem that is faced today. Can be thought of as one of the first books about behavior finance, in its descriptions of trading, crowd psychology, and the stock markets.
  • The Snowball: Warren Buffett and the Business of Life
    Alice Schroeder (2008)
    The first full biography of Warren Buffett, the most famous investor of all time, written with his full cooperation and collaboration. Gives a lucid account of his life and career, from his first financial forays to becoming a revered investment guru. Analyses his business deals and strategies, as well as mistakes, by looking at the development of his investing style, his many investment partnerships, and how he built up his fortune.
  • The Warren Buffett Way
    Robert G. Hagstrom (2nd ed 2004, originally 1994)
    Shows how Buffett made his name as the most successful investor of our time, and how his investment strategies made his fortune. Examines his numerous investments and deals, and the investment strategies and techniques he has used to beat the market over the years, regardless of market fluctuation. The author has himself successfully implemented many of Buffett’s investment methods, and shows how the individual investor can apply them to their...
  • Valuation: Measuring and Managing the Value of Companies
    Tim Koller, Marc Goedhart, and David Wessels (5th ed 2010, originally 1990)
    Describes how to value companies, and the impact of various business decisions on corporate value. Advocates a systematic approach to company valuation, especially when estimating the value of alternative corporate and business strategies. Shows how to assess the financial impact of key business transactions such as mergers and acquisitions.
  • Value Investing: Tools and Techniques for Intelligent Investment
    James Montier (2009)
    Provides a compendium of pieces and speeches from the author, written while chief strategist at Société Générale. Rejects the precepts of modern portfolio theory (MPT) and almost all of its tools and techniques, including the capital asset pricing model (CAPM). Sets out the core principles involved in following a value approach, via Montier’s “ten tenets” of investing.
  • When Markets Collide: Investment Strategies for the Age of Global Economic Change
    Mohamed A. El-Erian (2008)
    Analyzes the origins of the current financial crisis, and how to identify investment opportunities that take advantage of the financial turmoil. Examines the recent transformation of the global economy and the capital markets, and presents practical strategies for both investors and policy makers. Provides a means for investors to differentiate between the random noise generated by the financial system and key investment signals that should be...

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