Summer is the season of interns and young financiers bustling through an industry several times their age. So Business Insider reached out to veterans and asked, what are you reading?
We've compiled their suggestions here in a list surprisingly diverse in genre, topic, time period, and style. Together, they form a comprehensive picture of Wall Street's in and outs, and deepen the reader's understanding of forces driving the market.
So crack one open. It'll help you get through the dog days of summer.
Reminiscences of a Stock Operator
Author: Edwin Lefevre
Description: "'Reminiscences of a Stock Operator' is the fictionalized biography of Jesse Livermore, one of the greatest speculators ever. The timeless insights found within these pages have inspired countless generations of investors and made this book one of the foremost investment classics of all time ... 'Reminiscences of a Stock Operator' is a timeless tale that will enrich the lives — and portfolios — of today’s traders as it has done for generations in the past."
Recommended by Thomas Lee, head of research at Fundstrat Global Advisors; Dave Lutz, managing director and branch office manager at Jones Trading; Joe Lavorgna, managing director, chief US economist at Deutsche Bank Securities; and Jeff Gundlach, CIO at DoubleLine Capital.
Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined
Author: Lasse Heje Pedersen
Description: "'Efficiently Inefficient' describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money — and why they sometimes don't."
Recommended by Torsten Slok, chief international economist at Deutsche Bank
Adventures in Muniland: 2009-2015
Authors:
Description: "With a perspective that only decades of experience can bring, 'Adventures in Muniland' captures the municipal bond market's transformation from stodgy to dynamic. This concise, yet comprehensive stroll offers an insider's view, brings the reader right up to today's discussions, and carries the added benefit of providing a clear understanding of what can at times appear to be an opaque marketplace. The Cumberland team has produced an insightful review for the seasoned professional and a must read for newcomers and investors."
Recommended by David Kotok, CIO of Cumberland Advisors
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