I have just recently passed Levels 1 and 2 of the CFA Program and will be taking Level 3 next June. In the meantime, I want to hear from anyone else who has any suggestions on books or outside reading for anyone in the industry or looking to get into the industry. Big picture, small picture, niche, economics, finance, or whatever.
Here are 3 finance related books that are both educational and entertaining:
- The Intelligent Investor
- Reminiscences of a Stock Operator
- Liar’s Poker
The Complete Turtle Trader is also refreshing
A random walk down wall street
Vanguard Whitepapers
Currently, I’m reading:
The Value Investors: Lessons from the World’s Top Fund Managers
By Ronald Chan
right now. It is surprising better than I thought it would be.
A fool and his money - John Rothchild
Against the Gods - Peter Bernstein
Winning the Loser’s Game
What is your actual plan for entering “the industry”, besides reading books?
Maybe he plans writing a book about “industry” so he’s making the survey.
I’ve been trying hard to get a job as an Analyst and then working my way up to being a Portfolio Manager. Unfortunately, I don’t have high GPA from my undergrad which I finished back in 2010. I was just not as focused or driven back then. Most of the analyst positions in my area are for people straight out of college with high GPAs. I started studying for Level 1 last August and passed Levels 1 and 2 in the past year. I just took a job as a Client Service Representative at an investment company. I am hoping that I can work my way up into a more analytical role in this company and use my work experience to trump my low GPA.
As far as recommended books, I was just looking for something to keep learning and moving forward while I am not studying for Level 3.
What type of investing (or analyst) do you want to be? Maybe I can recommend some books once you narrow it down.
Best Practices for Equity Research Analysts: Essentials for Buy-Side and Sell-Side Analysts.
Pick a few industries that are of your interest and try applying the lessons in the book.
I found “Barbarians at the Gate” an entertaining read which was much needed after Level 2. Though private equity centric, it did make me privy to the history of the industry and some inside jokes from the older executives.
Also consider picking up a book on coding. “Automate the Boring Stuff With Python” is a free practical application book that could provide you with a differentiating skill set and divert the conversation from your GPA.
According to Greenman’s church investing group, the Bible may yield some financial insights.
More Money Than God, Liar’s Poker, Barbarians at the Gate, King of Capital, Monkey Business, Red Notice, Investment Banking by Rosenbaum/Pearl