Financial Books to Read for the Cfa
Note: This is a reading list for candidates that are looking for an engaging read while enhancing their noesis for the CFA exams and investment management. These books are not curriculum readings and are non intended act as training textile for the CFA exams.
Looking for some new year's day reading? Why non read something entertaining and educational?
We have collated a simple CFA reading listing to assist solidify readers grasp on finance, just at the same fourth dimension exist a fun and engaging read. And you don't have to take an exam at the stop of it – win-win!
Whether you're CFA Level 1, Level two or Level 3, the books in this list will help circular out CFA candidates' perspectives, recommended by CFA Found staff members and the 300Hours editors.
Each carefully selected book will challenge your thinking and develop areas that typically but emerge subsequently years of on the job.
2022 CFA Reading List: Top xx Picks for Candidates
A World Without Work: Technology, Automation and How We Should Respond (Daniel Susskind)
Is the job threat of artificial intelligence real? How would we adapt?
This twelvemonth'south FT/McKinsey business organisation book of the twelvemonth finalist, Oxford economist Daniel Susskind provides a thought-provoking analysis of the futurity of work in the age of bogus intelligence.
Information technology is well-written in a articulate and oft amusing way; information technology is also exceptionally well-argued and well-referenced.
Outliers: The Story of Success (Malcolm Gladwell)
What makes high-achievers unlike?
Instead of focusing on what successful people are like, Malcolm Gladwell argues that more attending should be given to where they are from: their culture, their family, their generation, and the idiosyncratic experiences of their upbringing.
Along the fashion he explains the secrets of software billionaires, what information technology takes to be a great soccer player, why Asians are good at math, and what made the Beatles the greatest rock ring.
Significant, an like shooting fish in a barrel read, and highly educational.
Investment Cyberbanking: Valuation, Leveraged Buyouts and Mergers & Acquisitions (Pearl & Rosenbaum)
The textbook for you if you're looking to break into investment cyberbanking.
Rosenbaum and Pearl in one case again have written the definitive book that they wish had existed when they were trying to break into Wall Street.
This book fills a noticeable gap in contemporary finance literature, which tends to focus on theory rather than applied application.
Information technology focuses on the primary valuation methodologies currently used on Wall Street comparable companies, precedent transactions, DCF, and LBO analysis as well equally M&A assay.
The Cartoon Guide to Statistics (Larry Gonick and Woollcott Smith)
A fun and graphical guide to financial math.
This may seem a silly choice coming from CFA Institute; nevertheless, The Cartoon Guide to Statistics, explains statistics in such a way that you lot can empathise the philosophy behind the mathematics.
You become a better financial professional because you are able to better synthesize the elements of statistics: geometry, algebra, calculus, and probability theory.
The Handbook of Fixed Income Securities (Frank J. Fabozzzi)
The most trusted resource in the world for fixed income investing for decades.
Written by Frank Fabozzi, professor of finance at EDHEC Business School and a member of the EDHEC Take a chance Plant and on the board of BlackRock, this classic has been updated, revised and expanded to the latest major upheavals and new opportunities that take risen in the recent years.
The Intelligent Investor (Benjamin Graham)
The bible of investing, by the father of value investing.
'The Dean of Wall Street', as Benjamin Graham was called, was considered the first proponent of value investing, an investment approach he began educational activity at Columbia Business School in 1928.
The Intelligent Investor, which Buffett calls "the greatest volume on investing ever written", introduced the Mr. Market analogy, mayhap the all-time investment illustration in history.
Shoe Dog: A Memoir past the Creator of Nike (Phil Knight)
"You are remembered for the rules yous suspension."
Fresh out of business schoolhouse, Phil Knight borrowed fifty dollars from his male parent and launched a company with 1 simple mission: import high-quality, low-cost running shoes from Japan.
Selling the shoes from the torso of his auto in 1963, Knight grossed eight grand dollars that beginning yr. Today, Nike'southward annual sales top $30 billion.
In this age of start-ups, Knight'southward Nike is the gold standard, and its swoosh is one of the few icons instantly recognized in every corner of the globe.
Bill Gates named Shoe Dog one of his five favorite books of 2016 and called it "an amazing tale, a refreshingly honest reminder of what the path to business success really looks like. Information technology'south a messy, perilous, and chaotic journey, riddled with mistakes, endless struggles, and sacrifice. Phil Knight opens upwards in ways few CEOs are willing to exercise."
The Big Brusque: Inside the Doomsday Auto (Michael Lewis)
InThe Big Short, Michael Lewis chronicles the events leading up to the 2008 fiscal crisis.
His dark humor and narrative makes subprime mortgages and credit default swaps nearly sexy.
His ragtag grouping of characters, the idiocy, madness and greed highlighted in the book makes information technology a really fun and educational read.
This book was made into a 2015 movie The Large Brusk, which is too recommended in our best finance movies listing.
Strategic Value Investing: Practical Techniques of Leading Value Investors (Stephen M. Horan, CFA, CIPM; Robert R. Johnson, CFA; and Thomas R. Robinson, CFA)
Value investing for fun and turn a profit.
This book places value investing in the context of investing generally, highlighting the size of the valuing investing opportunity and the behavioral challenges associated with capturing it.
The cadre of this book describes traditional methods used to estimate the value of a stock. It is brought to life in the concluding role of the book, though, where the authors friction match specific value styles to well-known investors like Buffet, Graham, Neff, etc.
Although the most receptive audience is likely to be "serious amateurs", candidates in the CFA Program would find the book helpful supplemental reading and veteran CFA charterholders volition find it a pleasant refresher with a tone, composition, and flare not found in the CFA curriculum.
The Bitcoin Standard: The Decentralized Alternative to Central Banking (Saifedean Ammous)
Written by economist and professor, Saifedean Ammuos, The Bitcoin Standard takes y'all on a journey starting from the introduction of money through its stages of evolution to present twenty-four hour period.
It focuses on the economics of Bitcoin – rather than the technical details – to give yous a big picture potential of Bitcoin, and how it tin can exist the next global reserve currency.
A keen, relevant read which complements your CFA studies as well.
Money of the Mind: Borrowing and Lending in America from the Ceremonious War to Michael Milken (James Grant)
An engaging history of finance.
Credit makes the world get 'round, and can just as easily make it stop, as we have learned all also recently.
It's a shame then many people in finance are ignorant of its fascinating history, which contains lessons of potential relevance today.
If yous are one of those people, James Grant'southward Money of the Mind will go a long way towards curing you.
Capital letter Ideas: The Improbable Origins of Modern Wall Street (Peter 50. Bernstein)
The development of modern investment theory.
Peter Bernstein's many contributions to the financial catechism are also numerous to explore in this mail (although Confronting the Gods is also included in this listing), merely I must note that I consider it one of the great privileges of my career to have worked with Peter and his wife Barbara several times over his final years.
His book Capital Ideas traces, and puts human faces on, the evolution of financial theory, and in my opinion is indispensable background for anyone working in investment-related businesses.
Strengths Finder 2.0 (Tom Rath)
Play your strengths, and win.
You lot can't exist all things to all people (or all employers for that affair) so it makes sense to identify your relative strengths and build your personal make and cocky-marketing effectually them.
Strengths Finder 2.0 is a tool for identifying the competencies that you are strongest in and provides y'all with a language for exploring and expressing those strengths.
If you lot happen to manage people or lead teams, yous may also find that the mode Roth frames the 34 strengths discussed in the volume helps you in coaching others.
Liar's Poker (Michael Lewis)
Entertaining, funny, and important lessons for the young investment banker.
A classic recommendation to anyone starting out in finance.
Liar's Poker is an extended Aesop's Legend for the modern fiscal age: Michael Lewis' first-hand business relationship as a bail salesman in Solomon Brothers, ane of the most powerful and profitable merchant banks in their time.
Among the many entertaining and funny experiences, you'll also clearly glean important life lessons for investors and investment banks alike.
The Snowball: Warren Buffett and the Business of Life (Alice Schroeder)
The Warren Buffett must-read.
An inside look into the life and career of Warren Buffett – one of the most revered investment figures in the globe.
Despite never having written a memoir, he has been persuaded to allow Alice Schroeder to spend time with him and those with whom he works to investigate his business organization triumphs, his opinions… and his mistakes.
A hefty book, but an engaging one.
Against the Gods: The Remarkable Story of Run a risk (Peter L. Bernstein)
An inspiring and readable history of chance, and its vital role in markets.
Probably the best writer on financial history, Peter Bernstein (whose book Capital Ideas is also included in this reading listing) details how take chances management techniques and tools immune us to emerge and modernize from the age of oracles and soothsayers.
It gives y'all not just an entertaining read into what is sometimes a pretty dry subject, but likewise inspires and imbues you with a sense of newfound appreciation for gamble management.
Barbarians at the Gate (Bryan Burrough)
The largest and near dramatic corporate takeover in American history.
An insightful await into the frenetic world of corporate takeovers in the 80s, in item, the boxing for RJR Nabisco in the autumn of 1988.
An absolute pleasure to read and approachable even for those unfamiliar with finance, it's both an engaging thriller and an instructive business book.
Core Concepts of Organizational Behavior (John R. Schermerhorn, James Chiliad. Hunt, and Richard Northward. Osborn)
Brush upward on your people skills.
To succeed as a financial professional, you lot need to be more than than a successful analyst.
Why? You have to work with other homo beings in society to get your work done. You will exist working with swain analysts and a supervisor, such as a portfolio director or chief investment officer, and y'all need to become along with these people.
The volume's famous "forming-storming-norming-performing" framework alone is worth the price.
When Genius Failed: The Rise and Fall of Long Term Capital Management (Roger Lowenstein)
The cautionary tale of Long-Term Upper-case letter Management.
A vivid, detailed and thrilling business relationship of the rising and cataclysmic fall of Long-Term Majuscule Management, the supposed hedge fund to cease all other hedge funds.
Alongside the dramatic tale, Lowenstein blends a mail-mortem of how LCTM failed, and lessons in how models and investment theorems based on past experiences may exist a lot less reliable than expected.
Only the Paranoid Survive (Andrew S. Grove)
Inquire and you lot shall receive.
To combat groupthink, "yes-men", and self-preservation instincts, Grove advocates that business organisation leaders use a proactive approach of engaging with all those people in a position to know better.
Even though you may be expected to "know" all the answers, he says, you demand to brand yourself vulnerable and fight through any ignorance you may take by asking honest, open-ended questions.
In this way, you can improve your knowledge about what is happening. Without necessarily knowing Philip Fisher's terminology, Grove illustrates how to put the scuttlebutt method into do.
Special Mentions: also recommended if y'all're thirsty for more
How to Win Friends and Influence People (Dale Carnegie)
Dale Carnegie'south stone-solid, time-tested advice has carried countless people upward the ladder of success in their business and personal lives.
Sapiens: A Brief History of Humankind (Yuval Noah Harari)
The Summertime Reading Option for President Barack Obama, Bill Gates, and Mark Zuckerberg.
One hundred thousand years agone, at least half dozen different species of humans inhabited Globe. Yet today there is only one—man sapiens. What happened to the others? And what may happen to the states?
Wink Boys (Michael Lewis)
In Michael Lewis's game-changing bestseller, a small group of Wall Street iconoclasts realize that the U.Due south. stock market has been rigged for the do good of insiders.
They band together―some of them walking away from 7-figure salaries―to investigate, expose, and reform the insidious new ways that Wall Street generates profits.
If you take any contact with the market, fifty-fifty a retirement account, this story is happening to you lot.
Thinking, Fast and Tiresome (Daniel Kahneman)
In the international bestseller, Thinking, Fast and Slow, Daniel Kahneman, the renowned psychologist and winner of the Nobel Prize in Economic science, takes united states of america on a groundbreaking tour of the mind and explains the two systems that drive the way we recall.
Organization 1 is fast, intuitive, and emotional; Arrangement ii is slower, more deliberative, and more logical.
The impact of overconfidence on corporate strategies, the difficulties of predicting what volition make united states happy in the futurity, the profound consequence of cerebral biases on everything from playing the stock market to planning our next vacation―each of these can be understood simply by knowing how the ii systems shape our judgments and decisions.
Influence: The Ability of Persuasion (Robert Cialdini)
A New York Times bestseller, Dr. Robert B. Cialdini — the seminal proficient in the field of influence and persuasion — explains the psychology of why people say aye and how to apply these principles ethically in business concern and everyday situations.
The Undoing Project (Michael Lewis)
40 years ago, Israeli psychologists Daniel Kahneman and Amos Tversky wrote a series of breathtakingly original papers that invented the field of behavioral economics.
One of the greatest partnerships in the history of science, Kahneman and Tversky'southward boggling friendship incited a revolution in Large Data studies, advanced evidence-based medicine, led to a new approach to government regulation, and fabricated much of Michael Lewis's own work possible.
In The Undoing Project, Lewis shows how their Nobel Prize-winning theory of the mind contradistinct our perception of reality.
The Black Swan: The Touch on of the Highly Improbable (Nassim Nicholas Taleb)
A black swan is a highly improbable result with three main characteristics: Information technology is unpredictable; it carries a massive impact; and, afterward the fact, nosotros concoct an caption that makes it appear less random, and more predictable, than information technology was.
The astonishing success of Google was a black swan; so was 9/11.
For Nassim Nicholas Taleb, black swans underlie almost everything about our world, from the rise of religions to events in our own personal lives.
How to Lie with Statistics (Darrell Huff)
Darrell Huff runs the gamut of every popularly used type of statistic, probes such things as the sample study, the tabulation method, the interview technique, or the way the results are derived from the figures, and points upwardly the countless number of dodges which are used to full rather than to inform.
Confessions of an Economic Hitman (John Perkins)
This now-classic book revealed the existence and subversive manipulations of economic striking men: 'highly paid professionals who cheat countries around the globe out of trillions of dollars.
Their tools include fraudulent fiscal reports, rigged elections, payoffs, extortion, sex, and murder.' In Perkins's case the tool was debt — convincing strategically important countries to infringe huge amounts of money for enormous, 'development' projects that served the very rich while driving the country deeper into poverty and debt.
And once indebted, these countries could be controlled.
More Coin than God (Sebastian Mallaby)
Wealthy, powerful, and potentially dangerous, hedge fund moguls accept get the It Boys of twenty-first- century capitalism.
Beating the market was long thought to be impossible, only hedge funds cracked its mysteries and made fortunes in the process.
Cartoon on his unprecedented access to the industry, esteemed financial author Sebastian Mallaby tells the inside story of the hedge funds, from their origins in the 1960s to their function in the fiscal crisis of 2007 to 2009.
The Five Rules for Successful Investing (Pat Dorsey)
The volume for those serious about learning how to invest.
Pat Dorsey'southward methodology is audio, his examples clear, and his approach timeless.
Hope you enjoyed the recommended books for CFA candidates to a higher place. If you have whatsoever recommendations to add together, let united states know in the comments below!
Meanwhile, you may observe these related articles of interest:
- Meridian 12 Best Finance Movies for CFA Candidates
- The CFA Syllabus, Explained With Two Cows
- Looking for Good CFA Alternative Courses? Here Are 16 to Consider
- What is CFA examination? A Useful Beginner'southward Guide
Source: https://300hours.com/cfa-reading-list/
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