Wall Street ain’t no walk in the park. It’s long hours, high stakes, and pressure beyond belief. When you’re working with sums exceeding two commas on the regular, there’s simply no room for error – hence why the industry has a notoriously high turnover rate. So how do the world’s most prolific financial gunslingers not only keep their heads above water but also stay ahead of the curve? The answer: exposure. What you read, learn, and watch shapes your knowledge, values, and beliefs. And it’s also how the world’s most effective minds are able to separate themselves from the crowd. Here are some books the Wall Street elite are reading right now (and why you should too).
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The Books Wall Street’s Elite Are Reading In 2023
1. Think Again
Written by New York Times best-selling author and Wharton’s top-rated professor – Adam Grant – this book emphasises the importance of rethinking and unlearning, as well as highlighting the pitfalls of favouring ideas that make us feel comfortable over ideas that make us think hard. It’s easier to reside in the comfort of opinions and books that will validate your beliefs rather than engage in meaningful reflection and flexible thinking, especially on Wall Street. This book will make you steer away from preconceptions and open your perspective to the power of critical thinking.
Author: Adam Grant
2. The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
For seasoned experts and financial beginners alike, The Psychology of Money emphasises the notion that when it comes to money, it’s not necessarily about what you know – it’s how you behave. Award-winning author Morgan Housel uses 19 short stories which explore the strange ways people think about money and rewires our understanding of the way we can make money work for us. His writing style starkly contrasts the complexity of many books on Wall Street through anecdotal means, providing original insights to promote more effective approaches to wealth management. It’s well worth your time.
Author: Morgan Housel
3. Tools of Titans
A compilation of the most effective high-leverage tools and tactics from his podcast The Tim Ferriss Show, Tools of Titans is an essential source of truth for optimising your own daily performance in any aspect of life. Inspired by over 600 hours of interviews with all types of icons and world-class performers from celebrities to Special Operations commanders, the insights into daily performance optimisation are unparalleled. Unlike most books, Tools of Titans maintains a relentless focus on actionable details for the reader, which is why it is still so popular on Wall Street. The cut-throat nature of the business world requires you to be at your best at all times. This one will help you achieve just that.
Author: Tim Ferriss
4. The Bond King
The Bond King is the story of how Bill Gross, a young gambling whiz kid, turned America into his casino. Mary Childs maps the rise and fall of a visionary and ruthless investor who revolutionised boring bond markets into a destabilised landscape of high risk coupled with a shit-tonne of potential reward. The unique lens with which this book also maps the downfall of its protagonist screams to the problems of greed and desire on Wall Street.
Author: Mary Childs
5. The Delusions of Crowds: Why People Go Mad in Groups
With heightened relevance amidst media and information overload over the past 24 months, William Bernstein examines the roots of human irrationality through historical, biological, and psychosocial lenses. The book unpacks ways to avoid mass mania and maintain a sense of individuality and courage in deviating away from the majority. There is often a tendency on Wall Street and in the world of investing to follow the masses, but in a space where you are rewarded for seeking out opportunities before others, this book speaks volumes.
Author: William J. Bernstein
6. The Almanack of Naval Ravikant: A Guide to Wealth and Happiness
This book challenges the idea that wealth and happiness are unattainable fantasies, instead viewing them as skills we can learn. Through the wisdom and teachings of American-Indian entrepreneur and investor Naval Ravikant, it’ll inspire you to invest time and energy into actionable endeavours that generate wealth and happiness. With specific relevance to Wall Street buzzwords such as ‘leveraging strategies’ and ‘investment pitfalls’, this book takes an exciting and accessible approach with incredible value for all readers.
Author: Eric Jorgenson
7. Lying for Money: How Legendary Frauds Reveal the Workings of the World
A former regulatory economist for the Bank of England, Dan Davies dissects how high-level financial crimes work and their effects on global economies. An entertaining and deeply informative explanation of the world of financial crime, this book of ‘what not to do’ has made its way around Wall Street and passed with flying colours. Of particular insight was the relationship between financial crime and the modern world economy.
Author: Dan Davies