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Billion Dollar Loser

THE EPIC RISE AND SPECTACULAR FALL OF ADAM NEUMANN AND WEWORK
Reeves Wiedeman

An enjoyable read of a well-written book, I still spent most of my time reading it just dumbfounded at the set of circumstances that ever allowed this story to take place. A magnetic and charismatic leader who kicked off most meetings with tequila shots, WeWork was believed by some of the smartest institutional investors in the world to be the next multi-billion dollar star. It proved to be yet another over-leveraged shared office space real estate play. But the story is not about people believing a questionable business model could be something different than it was; the real story is how FOMO can lead to people believing the unbelievable, even from totally not-credible people.

Wall Street Meat

Andy Kessler

I could read this book ten more times, I enjoyed it so much. Not only is Kessler one of the great contemporary defenders of markets, but this book (written in 2003) about his ride on Wall Street from 1985 through the blow-up of the dotcom tech bubble is gripping drama, providing readers a remarkable glimpse into the old relationships between analysts, traders, and deal bankers. Written in defense of the need for Wall Street to provide capital access to businesses, it is neither self-righteous, defensive, or naive. Rather, it is a splendid bit of history juxtaposed with commentary – and that commentary has only grown in its relevance and urgency since 2003.

The Maker Versus the Takers

Jerry Bowyer

I don’t know that I will ever read a more exegetically sound defense of private property and free enterprise than this masterful and well-researched book by my dear friend, Jerry Bowyer, one of the most impressive economic minds I have ever been around. A careful and proficient talent for textual study leads Jerry to successfully make the case that what you are often told is the gospel view on riches is wildly off the mark.

Always A Good Idea

THE CASE FOR DIVIDEND GROWTH

INVESTING IN A POST-CRISIS WORLD
David L. Bahnsen

It wouldn’t make sense for me to have a recommended investing book list and not include the book that serves as the core investing philosophy of The Bahnsen Group!

THE INTELIGENT INVESTOR

Benjamin Graham

The grandfather of value investing, Warren Buffett’s mentor, and the best explainer in history of buying a risk asset at a discount to the sum of its future cash flows!  Reading is believing …

FOOLED BY RANDOMNESS

Nassim Taleb

Not just in the investing world but in all of life, human nature causes us to mentally construct reasons and patterns for success, and allows us to be fooled by randomness, often to our own demise.  Chance, therefore, favors preparation.  And the quality of a choice can not be judged by the result – not if you care about the next time.

STOCKS FOR THE LONG RUN

Jeremy Siegel

More historical data than you may have signed up for, but this is a perfectly comprehensible book about the long-term reality of equity returns vs. other asset classes, and why that may be (i.e. the nature of the equity risk premium).  By long term, I mean, over 200 years of research is laid bare to make the case for a long-term equity bias.

ECONOMICS IN ONE LESSON

Henry Hazlitt

I can’t tell you how useful this book was to me at a very, very young age, in forming basic economic principles and understandings that would shape the foundation of what I believe about economic law and reality.

THE ESSAYS OF WARREN BUFFETT

LESSONS FOR CORPORATE AMERICA
Warren Buffett

This collection of essays from the oracle of Omaha, written over many decades, has become a vital addition to the libraries of not just investment advisors but corporate managers and business entrepreneurs.  Tremendous insights proven true over the test of time.

EXTRAORDINARY POPULAR DELUSIONS AND THE MADNESS OF CROWDS

Charles Mackay

If you are not a contrarian investor before you read this book, you will be after you read this book.  A historical instructive through the realities of human psychology and group think, and the disastrous investment results that can come about from those realities.

HUMAN ACTION

Ludwig Von Mises

It may be more philosophical than it is investment-application, but so much of my understanding of capital markets comes from my understanding of basic economics.  And this book many years ago taught me to understand human action as the core to understanding economics.  The calculations that serve at the core of human reasoning ultimately drive prosperity (and the preservation of civilization itself).  A few sentences can’t do justice to the richness of wisdom and profundity in this book.

David's Book Archive
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