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post #1 of 5 (permalink) Old 08-24-2019, 03:45 PM Thread Starter
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Good books

I have seen books referenced here and there on the site. Some of them have looked interesting but can't find the thread that referenced them or who put them up so they are lost. I will put a few down that I have read, and are good. If anyone else has some good ones put them up.

https://www.amazon.ca/Demon-Our-Own-...gateway&sr=8-1

Why do markets keep crashing and why are financial crises greater than ever before? As the risk manager to some of the leading firms on Wall Street–from Morgan Stanley to Salomon and Citigroup–and a member of some of the world’s largest hedge funds, from Moore Capital to Ziff Brothers and FrontPoint Partners, Rick Bookstaber has seen the ghost inside the machine and vividly shows us a world that is even riskier than we think. The very things done to make markets safer, have, in fact, created a world that is far more dangerous. From the 1987 crash to Citigroup closing the Salomon Arb unit, from staggering losses at UBS to the demise of Long-Term Capital Management, Bookstaber gives readers a front row seat to the management decisions made by some of the most powerful financial figures in the world that led to catastrophe, and describes the impact of his own activities on markets and market crashes. Much of the innovation of the last 30 years has wreaked havoc on the markets and cost trillions of dollars. A Demon of Our Own Design tells the story of man’s attempt to manage market risk and what it has wrought. In the process of showing what we have done, Bookstaber shines a light on what the future holds for a world where capital and power have moved from Wall Street institutions to elite and highly leveraged hedge funds.

https://www.amazon.ca/Mobs-Messiahs-...y&sr=8-2-fkmr0

An insightful look at how to succeed by going against the crowd

Collectively, people think and act in ways that are different from how they think and act as individuals. Understanding these differences, says William (Bill) Bonner-a longtime maverick observer of the financial world and the vagaries of the investing public-is vital to preserving your wealth and personal dignity. From the witch-hunts of the early modern world to the war on terror, from dot-com mania to the real estate bubble, people have always been caught up in frauds, conceits, and wild guesses-often with devastating results. In Mobs, Messiahs, and Markets, Bonner and coauthor Lila Rajiva show groupthink at work in an improbable array of instances throughout history and reveal why swimming against the current pays.

Shares the deeper secrets of investing and pushes you to question what this means for your financial well-being
Explains why people so often abandon good sense and good behavior to "follow the crowd"
Offers concrete advice on how you can avoid the "public spectacle" of modern finance
The authors' cautionary tale of bubble economies reveals how the gush of credit let loose by Alan Greenspan has wreaked havoc on our lives-but their thoughtful and always entertaining approach also offers some sound investing principles for avoiding the pitfalls of the public spectacle, thinking for yourself, and protecting your money, your sanity, and your soul.

https://www.amazon.ca/Traders-Guns-M...s%2C253&sr=8-1

A sensational and compelling insider’s view that lifts the lid on the fast-paced and dazzling world of derivatives, now in a smaller, paperback format.

Traders Guns and Money is a wickedly comic exposť of the culture, games and pure deceptions played out every day in trading rooms around the world. And played out with other people’s money.

This sensational insider’s view of the business of trading and marketing derivatives, explains the frighteningly central role that derivatives and financial products played in the global financial crisis.

This worldwide bestseller reveals the truth about derivatives: those financial tools memorably described by Warren Buffett as ‘financial weapons of mass destruction’. Traders, Guns and Money will introduce you to the players and the practices and reveals how the real money is made and lost.

https://www.amazon.ca/Against-Gods-R...gateway&sr=8-1

In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one of the central ideas that distinguishes modern times from the distant past. Against the Gods chronicles the remarkable intellectual adventure that liberated humanity from oracles and soothsayers by means of the powerful tools of risk management that are available to us today.


Last edited by lander2; 08-25-2019 at 03:13 PM.
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post #2 of 5 (permalink) Old 08-24-2019, 03:54 PM Thread Starter
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https://www.amazon.ca/Collapse-Socie...s%2C247&sr=1-2

In Jared Diamond’s follow-up to the Pulitzer-Prize winning Guns, Germs and Steel, the author explores how climate change, the population explosion and political discord create the conditions for the collapse of civilization

Environmental damage, climate change, globalization, rapid population growth, and unwise political choices were all factors in the demise of societies around the world, but some found solutions and persisted. As in Guns, Germs, and Steel, Diamond traces the fundamental pattern of catastrophe, and weaves an all-encompassing global thesis through a series of fascinating historical-cultural narratives. Collapse moves from the Polynesian cultures on Easter Island to the flourishing American civilizations of the Anasazi and the Maya and finally to the doomed Viking colony on Greenland. Similar problems face us today and have already brought disaster to Rwanda and Haiti, even as China and Australia are trying to cope in innovative ways. Despite our own society’s apparently inexhaustible wealth and unrivaled political power, ominous warning signs have begun to emerge even in ecologically robust areas like Montana.

Brilliant, illuminating, and immensely absorbing, Collapse is destined to take its place as one of the essential books of our time, raising the urgent question: How can our world best avoid committing ecological suicide?

https://www.amazon.ca/Guns-Germs-Ste...KAVYKCQXK3NEXA

n this "artful, informative, and delightful" (William H. McNeill, New York Review of Books) book, Jared Diamond convincingly argues that geographical and environmental factors shaped the modern world. Societies that had had a head start in food production advanced beyond the hunter-gatherer stage, and then developed religion --as well as nasty germs and potent weapons of war --and adventured on sea and land to conquer and decimate preliterate cultures. A major advance in our understanding of human societies, Guns, Germs, and Steel chronicles the way that the modern world came to be and stunningly dismantles racially based theories of human history. Winner of the Pulitzer Prize, the Phi Beta Kappa Award in Science, the Rhone-Poulenc Prize, and the Commonwealth club of California's Gold Medal.

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post #3 of 5 (permalink) Old 08-24-2019, 10:55 PM
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Read a quote the other day that internet censorship is comparable to the periods of book burnings. It's sadly true. And that most books these days that accurately reflect history are becoming something that should be on a read list. My example last week was that the Civil War was fought on the idea of slavery and that Lincoln was all about ending slavery. You actually have to find books that tell the real history of the period or search the internet beyond Wikipedia to understand the truth. Or else accept what you are told is "common knowledge" these days and go with the pro/anti slavery narrative of why the war happened.

As for financial matters, the entire notion of derivatives should worry anyone. Once you understand how they exist and how they are used you will soon understand that the people and systems created by them are not doing it to benefit you or make your life/world more secure. Unless you consider a casino a valid business model of security. Once you cross that bridge you are into wide open territory as to figuring out what is correct. Thinking for yourself was mentioned, and it is a very large truism.

I haven't read much for books on financial matters, understanding that we are a bunch of people using the company issued script for purchases at the company store is enough to know for most. Understanding how the company owners function, what their goals are, what they use for real money rather than script, the systems and mechanisms put in place are all secondary items to ponder. Worthy of discussion but not till you accept some of the basic truths of your place in the companies structure.
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post #4 of 5 (permalink) Old 08-24-2019, 11:52 PM Thread Starter
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https://www.amazon.ca/Incerto-Fooled...s%2C230&sr=8-1

This entire series by Taleb is fantastic. Helps to question things more and look at the world a little differently.
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post #5 of 5 (permalink) Old 08-25-2019, 03:12 PM Thread Starter
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https://www.amazon.ca/Technical-Anal...s%2C259&sr=8-1

This outstanding reference has already taught thousands of traders the concepts of technical analysis and their application in the futures and stock markets. Covering the latest developments in computer technology, technical tools, and indicators, the second edition features new material on candlestick charting, intermarket relationships, stocks and stock rotation, plus state-of-the-art examples and figures. From how to read charts to understanding indicators and the crucial role technical analysis plays in investing, readers gain a thorough and accessible overview of the field of technical analysis, with a special emphasis on futures markets. Revised and expanded for the demands of today's financial world, this book is essential reading for anyone interested in tracking and analyzing market behavior.

https://www.amazon.ca/Trading-Zone-C...36ZA7PNHANAE9S

Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money. He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation.

https://www.amazon.ca/New-Market-Wiz...X761PTFPXH9MCF

In The New Market Wizards, successful traders relate the financial strategies that have rocketed them to success. Asking questions that readers with an interest or involvement in the financial markets would love to pose to the financial superstars, Jack D. Schwager encourages these financial wizards to share their insights. Entertaining, informative, and invaluable, The New Market Wizards is destined to become another Schwager classic.

https://www.amazon.ca/CBOT-Handbook-...gateway&sr=8-2

Through nine editions over three decades, the Chicago Board of Trade (CBOT) has provided futures and options traders with the self-published Commodity Trading Manual. Now the CBOT has entered into an exclusive agreement with McGraw-Hill to bring you this vital book. The Chicago Board of Trade Handbook of Futures and Options delivers valuable information on everything from the uses and purposes of the futures market to nuts-and-bolts descriptions of day-to-day exchange operations.

https://www.amazon.ca/Japanese-Candl...s%2C249&sr=8-1

A form of technical analysis, Japanese candlestick charts are a versatile tool that can be fused with any other technical tool, and will help improve any technician's market analysis. They can be used for speculation and hedging, for futures, equities or anywhere technical analysis is applied. Seasoned technicians will discover how joining Japanese candlesticks with other technical tools can create a powerful synergy of techniques; amateurs will find out how effective candlestick charts are as a stand-alone charting method. In easy-to-understand language, this title delivers to the reader the author's years of study, research and practical experience in this increasingly popular and dynamic approach to market analysis. The comprehensive coverage includes everything from the basics, with hundreds of examples showing how candlestick charting techniques can be used in almost any market.
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