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Industry and Financial Reads

Are you looking for some good reading that might help you at work too? This page offers suggestions from QuantyPhi, and maybe, some friends of ours. If you have a suggestion of what you think we might like to read, please let us know so we can enjoy it as well.

The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution

Wall Street Journal writer Gregory Zuckerman introduces the reader to one of the pioneers in quantitative investing. Learn about the group that created the idea of investing without worrying about the company in which you have invested. -KPC

Big Debt Crises

Hedge fund master Ray Dalio reviews the history of several financial crises, the impact of leverage on each and how nations tend to respond, right or wrong. This topic should be reviewed every ten years or so as we repeat the mistakes. -KPC

How Money Became Dangerous: The Inside Story of Our Turbulent Relationship with Modern Finance

An insider’s look into the complications of our current money system, from a commercial banker to and investment banker, and how every bad idea starts out a as good idea. -KPC

Narrative Economics: How Stories Go Viral and Drive Major Economic Events

Nobel winner Robert Shiller reveals the narrative stories and how they resemble the spread of an actual virus. Recognizing the narrative can help avoid falling for the message and make better decisions based on actual data rather than the narrative. -KPC

The Behavioral Investor

A thorough look at how to better manage investment portfolios through a system-based process. Money decisions, especially investment decisions can be improved by understanding human behavior and why we are programmed to underperform when relying on human emotion. - KPC

Talking to Strangers: What We Should Know About the People We Don't Know

Malcom Gladwell takes a look at what we think we know about people based upon what we see. Why is it we think we understand what people think based upon actions, expressions and outward signs. - KPC

How the Mighty Fall: And Why Some Companies Never Give In

Jim Collins, who gave US Built to Last AND Good to Great, take s a slightly different viewpoint; a comprehensive look at companies that were once great and since have failed. The best time to review this is when you are doing well to help avoid the mistakes that can be fatal. -KPC

Farsighted: How We Make the Decisions That Matter the Most

How do we make important decisions? Steven Johnson takes a look at many important decisions that have been made without the benefit of solid decision making matrices, and how these bad outcomes could have been avoided with better techniques. -KPC

How to Lie With Statistics

Darrell Huff takes a lighthearted but interesting view of what we all thought we knew; public opinion polls, growth statistics and even growth figures. This book can help you understand what many don’t and, build a healthy level of skepticism that is necessary to know how the world really works. -KPC

Money Anxiety

Dan Geller, Ph. D., introduces the next stage in behavioral economics with this book on financial anxiety. Many have read about elasticity of demand, but Geller moves one step further to measure how we behave with deposits in various steps in the economic cycle. Financial institutions would do well to understand this behavior. -KPC

Misbehaving: The Making of Behavioral Economics

Nobel Prize winner Richard Thaler reveals how the science of behavioral economics developed over years; extending pioneering work by Kahneman and Tversky through his work at University of Chicago. This book can help readers think like an Econ and understand why most people simply don’t think that way, despite what traditional economic models presume. -KPC

Nudge: Improving Decisions About Health, Wealth, and Happiness

In this book, Nobel winner Richard Thaler uses the decision-making framework and thought making process to help build better outcomes. Suggesting a more libertarian “helping” process, he looks at how we have consistently made poor decisions and how leaders might “nudge” others to make better decisions with just the right amount, and the right kind of encouragement. -KPC

Thinking, Fast and Slow

Why do rational human beings often make irrational decisions? Author and Nobel winner Daniel Kahneman explores the psychology of thinking and how our thinking irrationally disrupts the rational science of economics. Kahneman reveals the two types of thought and how we can focus on the rational when we are inclined to rely on the reactive. He also reminds us what we see is not all there is. - KPC

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto)

Interesting read from a money manager who has seen styles come and go. This will help define the role of luck, probability and human error in the process of making money decisions. -KPC

The Undoing Project: A Friendship That Changed Our Minds

Michael Lewis introduces the reader to two academics on the forefront of behavioral study and the human element in the decision-making process. -KPC

Boomerang: Travels in the New Third World

Remember the credit crises? Read Michael Lewis’ stories about how people got caught up in the rush to riches in the 2000’s and how it all came undone. There is an extra bonus for those looking for a way to curse in German. -KPC

The Big Short: Inside the Doomsday Machine

Michael Lewis brings the mortgage market in the 2000’s to life. Meet some of the “smart” characters who brought you the CDO and “liar loans”. -KPC

Liar's Poker

The first of many masterpieces by Michael Lewis. The heady days of Salomon Brothers are exposed here with all the hubris you may have heard about. Don’t care to read this, then its “Equities in Dallas” for you. -KPC

When Genius Failed: The Rise and Fall of Long-Term Capital Management

Roger Lowenstein shows us the principals that brought us Long-Term Capital Management, the arrogance of certainty and how even Nobel Prize winners can get things very wrong. Everything works great while it’s working; until it stops working. -KPC

The Signal and the Noise: Why So Many Predictions Fail-but Some Don't

Ever wonder how weather forecasts just don’t seem to work? Why does a 10% chance of rain not always mean it might rain? Nate Silver tells the reader how to separate actual predictive data from the noise in many aspects of daily life. You will also learn how he predicted all 538 congressional races, hence 538.com. -KPC

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