MacroScope

Crisis reading: What’s in the book bag?

June 10, 2009

Readers of MacroScope who live in the northern hemisphere will be gearing up for some summer reading.

James Montier, the market psychologist who is also an equity analyst at Societe Generale, has come up with his annual recomendations of what to read. The full list is here, but for the current economic and market crisis he has this to offer:

My favourite book in this category is Bill Fleckenstein’s ‘Greenspan’s Bubbles’ – an excellent exposé of incompetence during Alan Greenspan’s tenure as Fed Chairman. The next choice in this group is Whitney Tilson and Glen Tongue’s ‘More Mortgage Meltdown’. This book explains clearly how we ended up in this mess (and is based on the authors — real time experience), and an added bonus is the insight into Tilson’s investment process provided by the case studies. My final choice in this section is Jim Grant’s ‘Mr. Market Miscalculates’. I’ve mentioned this excellent book before, and I believe it deserves a place on all investors’ bookshelves.

Montier got MacroScope thinking. There must be many more crisis books, or related ones, that are worthy of a read as the summer rolls in. How about John Kenneth Galbraith’s ‘The Great Crash, 1929′ or Tom Wolfe’s ‘Bonfire of the Vanities‘, which still has one of the best descriptions ever of how bond traders make money.

So let’s have your suggestions. What should you read to mark the crisis?

Comments
14 comments so far | RSS Comments RSS

confidence games by marc c taylor

Posted by Enn | Report as abusive
 

Paradise Lost by John Milton. Hard Times by Charles Dickens. Bleak House by Charles Dickens. Down and Out in Paris and London by George Orwell. Been Down So Long It Looks Like Up to Me by Richard Farina.

 

US Army Survival Handbook. Best crisis reading around.

Posted by Jer | Report as abusive
 

Liar’s Poker by Michael Lewis

Posted by stuart munro | Report as abusive
 

Dan Ariely ‘ Predictably Irrational’

 

Carly Fiorina (our next US President) ‘Tough Choices’

 

Liberty and Tyranny by Mark R. Levin
Men in Black by Mark R. Levin

Posted by Mike | Report as abusive
 

Hard Times by Charles Dickens.

 

Migraine and other Headaches by William B. Young and Stephen D. Silberstein

 

“Atlas Shrugged” by Ayn Rand.

 

Freakonomics by Steven Levitt and Stephen Dubner

Posted by Bali Hai | Report as abusive
 

Traders, Guns and Money by Satyajit Das, A Short History of Financial Euphoria by J K Galbraith ,F.I.A.S.C.O. by Frank Partnoy and Only Yesterday

 

“Economics In One Lesson” by Henry Hazlitt is my top pick. I suggest this because their is a famine in the land for true economic knowledge. Do yourself a favor and read it at least three times. Then when you’re done with that, I suggest “Tomorrow’s Gold” by Marc Faber. There’s a lot to chew on with both of these books. Guaranteed- if you give them the time they need to be understood, the reading will take up your entire summer. You really need to do this.

Posted by Kedros | Report as abusive
 

Gone with the wind by Margaret Mitchell

 

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/