5 financial books plus 1 non-financial book I'm reading or just read (not necessarily recommendations):
- Michael Panzner's The New Laws of the Stock Market Jungle : An Insider's Guide to Successful Investing in a Changing World. Discusses the impact of new financial instruments, information flow and globalization on trading.
- James Altucher's Trade Like Warren Buffett. Buffett's recent bet against the dollar illustrates that his trading is often more short-term oriented and sophisticated than a straightforward value-based, long-term buy-and-hold strategy. Altucher looks at Buffett strategies and extrapolates from them for retail investors.
- Robert Hagstrom's The Warren Buffett Way, Second Edition. The traditional view of Buffett. I'm particularly interested in different approaches to risk control, and there's a chapter here on Buffett's approach: concentrate your positions in your highest-conviction stocks that you have greatest knowlege of.
- Michael Covel's Trend Following: How Great Traders Make Millions in Up or Down Markets. "All profitable systems trade trends; the difference in price necessary to create the profit implies a trend."
- Eric Prentis' The Astute Investor. Self-published, self-edited; a financial advisor trying to educate retail investors. "In general, all stocks priced at less than ten dollars a share should never be purchased for an investment portfolio". Really?
And one non-stock market book:
- Natan Sharansky's The Case For Democracy: The Power of Freedom to Overcome Tyranny and Terror. Phenomenal. Required reading if you want to understand President Bush's foreign policy; sets the framework of debate, written by a person of remarkable courage and integrity.