Six Best Books To Read For A Career in Hedge Funds

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Mar 22 2011 Like 8

Six Best Books to Read for a Career in Hedge


Funds
By Julie Steinberg

If you're planning to break into hedge funds


or want to accelerate your career in the
industry, it's useful to read the same books
that bigwigs in the field do.

We spoke to Roy Cohen, career coach and


author of The Wall Street Professional's
Survival Guide: Success Secrets of a Career
Coach, who gave an insider's view of books
that hedge fund professionals -- his clients --
deem essential reads for those in the
industry.

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1. The Big Short: Inside the Doomsday
news
Machine by Michael Lewis

Print This 2010 chronicle published by W.W. MOST Popular


Norton & Company gives an overview of the
Finance Career News
factors that led to the housing crisis and credit crunch. Michael Lewis, the well-known
journalist and author of "Liar's Poker," reports on what led to Lehman's demise and also 1 Five Best Books to Read for a Career in Investment
highlights the people who predicted the crash. Hedge fund professionals are attracted to this Banking
book because it details one of the biggest events of their careers. 2 How to Move on After You've Been Dumped by Goldman

Key takeaway: Never say never. 3 So You Want to Be an Equity Research Analyst...
4 Morale at SEC Remains High Despite Obstacles

Career Strategies
2. The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied
Wall Street and Made Financial History by Gregory Zuckerman 1 The Ten Worst Things to Put on Your Resume
2 Top Ten Ways to Blow a Job Interview
John Paulson is the wealthiest hedge fund-er on Forbes's list of billionaires, and people turn
3 How to Craft the Perfect Equity Analyst Resume
to this 2009 book published by Crown Business to figure out why. Wall Street Journal reporter
Gregory Zuckerman paints the picture of Paulson, the man who famously bet against the 4 Seven Things You Should Never Do While Networking
housing market and netted billions. Paulson is a fascinating figure for those who dream of
many zeros on their paychecks, and that interest doesn't look like it will abate any time soon.

Key takeaway: Sometimes it's good to go against the grain.


TOP Finance Jobs
Most Viewed Jobs
3. Hedgehogging by Barton Biggs 1 Finance jobs - Chief Compliance Officer, New York,
NY - Interactive Data - FINS.com
This colorful, gossipy guide to the personalities in the industry gets behind the curtain at
hedge funds, notoriously opaque firms. It's penned by Barton Biggs, a money manager at 2 Finance jobs - Investment Risk Analyst, Seattle, WA -
BlackRock Inc. - FINS.com
Traxis Partners, a New York-based hedge fund; the information is firsthand. The book,
published by Wiley in 2008, makes the masters at funds more accessible. It's more of a guide 3 Finance jobs - Regional Controller - Marsh & McLennan
to the investors than a guide to investments, one commenter notes on Amazon. Corporate - Mexico City, MX, - Marsh & McLennan
Companies (MMC) - FINS.com
Key takeaway: Meet your role models -- if you can't in real life, at least on the page. 4 Finance jobs - Real Estate Valuations Associate, New

http://www.fins.com/Finance/Articles/SB130037657293195437/Six-Best-Books-to-Read-for-a-Career-in-Hedge-Funds[3/22/2011 4:09:07 PM]


Six Best Books to Read for a Career in Hedge Funds - Finance and Accounting Jobs News and Advice

york, NY - BlackRock Inc. - FINS.com

Featured Jobs
4. The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb
   OTC Derivatives / Interest Rate Swaps, Twenty
Investors tend to assume that events will unfold a certain way based on past occurrences, but Recruitment Group Nyc, NY,US
this 2007 Random House book challenges that point of view. Taleb draws on his experience    Financial Advisor - Highest Ranked Financial Services
as philosopher, professor, and trader to posit that unexpected or rare events exert large Firm, FORTUNE Magazine’s Best Companies to Work
impacts that can rattle Wall Street's dependence on predictability. "Investing morphs over time For, Edward Jones Wooster, OH,US; Canton, OH,US; Akron,
based on new information, sometimes good, sometimes tragic," Cohen said. OH,US
   Lead Specialist, Dow Jones & Co. Inc. New York, NY,US
Key takeaway: Not everything will go according to plan.
   Broker Trainee Program, Charles Schwab Corp. Austin,
TX,US

 
5. Buffett: The Making of an American Capitalist by Roger Lowenstein Jobs of the Week

Published in 1996 by Random House, this book gets to the heart of Buffett's investment Finance and accounting jobs featured in
techniques. "It allows for some insight into Buffett's brain," Cohen said. Roger Lowenstein, a Find a Great Job →
financial journalist who has worked for the New York Times and The Wall Street Journal,
offers minute details of Buffett's life, including his relationship with his wife and mistress, and
pieces together how one man built his fortune from scratch.

Key takeaway: If you want to be like Buffett, this is as close to a step-by-step guide as you're
going to get.

6. The Money Masters Series by John Train

Train's first book, The Money Masters, was published in 1994 by HarperBusiness and followed
up with The New Money Masters and Masters of Our Times. Train, who founded an
investment advisory firm and co-founded "The Paris Review," doesn't try to be as gossipy as
Biggs. Instead, these books examine what makes some of the world's most successful
investors tick. Benjamin Graham, Warren Buffett, John Templeton, and Philip Fisher are all
put under the microscope.

Key takeaway: The best investors deliver consistent returns.

Write to Julie Steinberg

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