Sense on Cents

Reading Room

A few recommendations I thought you’d enjoy. I’ve grouped them by category and provided a brief description of each book. Hopefully, there’s something for everyone. Let me know which ones you liked best.

— Market Insights —

13 Bankers: The Wall Street Takeover and the Next Financial Meltdown
by Simon Johnson and James Kwak
From Publisher’s Weekly: Though this blistering book identifies many causes of the recent financial crisis, from housing policy to minimum capital requirements for banks, the authors lay ultimate blame on a dominant deregulatory ideology and Wall Street’s corresponding political influence. Johnson, professor at the MIT Sloan School of Management, and Kwak, a former consultant for McKinsey, follow American finance’s rocky road from the debate between Jefferson and Hamilton over the first Bank of the United States through frequent friction between Big Finance and democracy to the Obama administration’s responses to the crises.

Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy
by Barry Ritholtz
Editorial review from Amazon.com: Bailout Nation offers one of the clearest looks at the financial lenders, regulators, and politicians responsible for the financial crisis of 2008. This book skillfully explores how the United States evolved from a rugged independent nation to a soft Bailout Nation-where financial firms are allowed to self-regulate in good times, but are bailed out by taxpayers in bad times.

When Giants Fall
by Michael Panzner
— In When Giants Fall, author Michael Panzner puts the coming age of post-American dominance in perspective, and addresses the far-reaching effects it will have on our lives, as well as the economic opportunities that will arise from it.
Editor’s Note: Michael Panzner was a guest on NoQuarter Radio’s “Sense on Cents with Larry Doyle” on Sunday, March 29, 2009. Listen to an audio recording of that fascinating interview.

The Complete Bond Book: A Guide to All Types of Fixed-Income Securities
by David Darst
— the Wall Street insider’s Bible to all types of fixed income securities.

Inside the Yield Book
by Sidney Homer and Martin L. Leibowitz
— this book takes the bond investor behind the scenes and reveals, in non-technical terms, the true nature of bond yields and the ways in which they are misused and misunderstood.

The Little Book of Common Sense Investing
by John C. Bogle
— written by one of the founders of the mutual fund industry, this book is filled with in depth insights and practical advice. It will change the very way you think about investing. Successful investing is not easy . . . it requires discipline and patience. But it is simple for it’s all about common sense.

Warren Buffett Speaks: Wit and Wisdom from the World’s Greatest Investor
by Janet Lowe
— discover life’s little secrets of success as revealed by the world’s greatest investor. “Warren Buffet Speaks” on diverse subjects such as investing, running a business, honesty, school teaching, paying taxes, and much more.

Little Red Book of Selling: 12.5 Principles of Sales Greatness
by Jeff Gitomer
— companies will spend thousands of hours and millions of dollars teaching people “how to sell” and not one minute or not ten dollars on “why they buy” . . . and “why they buy” is all that matters.

House of Cards: A Tale of Hubris and Wretched Excess on Wall Street
by William D. Cohan
Chronicles the fall of Wall Street giant Bear Stearns

— Business and Life —

Who Moved My Cheese: An Amazing Way to Deal with Change in Your Work and in Your Life
by Spencer Johnson M.D.
— a simple parable that reveals profound truths about change. When you come to see “the handwriting on the wall,” you can discover for yourself how to deal with change so that you can enjoy less stress and more success in your work and in your life.

The Millionaire Mind
by Thomas J. Stanley Ph.D
— explores the ideas, habits, beliefs, and behaviors that enabled millionaires to build and maintain their fortunes. Dr. Stanley provides a fascinating look at who America’s financial elite are and how they got there.

What They Don’t Teach You at Harvard Business School: Notes from a Street-Smart Executive
by Mark H. McCormack
— should be titled, “What They Can’t Teach You at Harvard Business School.” Mark McCormack, the founder of International Management Group (IMG), shares the business skills, techniques and wisdom gleaned from his own experience. This book shares how to use applied people sense to get things done.

Liar’s Poker: Rising Through the Wreckage on Wall Street
by Michael Lewis
— a Wall St. classic that takes you onto the rough and tumble bond desk at the legendary Salomon Bros. in the 1980s. A “must read” for anybody who has any interest in finance and Wall Street.

Top Producer
by Norb Vonnegut
“Though it’s hard these days to feel sympathy for investment bankers and stockbrokers, Vonnegut makes his irreverent protagonist someone we can root for as he pursues crooks who use the redemptive language of hedge funds to hide financial malfeasance. A promising debut.”
–Library Journal
Editor’s Note: Norb Vonnegut was a guest on No Quarter Radio’s “Sense on Cents with Larry Doyle” on September 27, 2009. Listen to an audio recording of the show.

Bombardiers
by Po Bronson
— a fanciful novel written by a young sales associate at First Boston. This book provides an entertaining yet authentic look into the world of Wall Street.

Reminiscences of a Stock Operator
by Edwin Lefevre
— this book serves as a little pocket of sage wisdom against the common place readings about Wall Street. It’s basic tenet is to counteract the herd mentality. This book is treasured by every Wall Street veteran.

— Inspirational —

They Call Me Coach
by John Wooden with Jack Tobin
— “what Knute Rockne was to football, Connie Mack to baseball, and Wilbur and Orville Wright to flying, John Wooden is to basketball. This book captures the full flavor of the man, the philosophies that work in life, and the philosophies that work on the court. I commend it to people who want to succeed at either . . . or both.” (Los Angeles Times)

Quiet Strength: The Principles, Practices, and Priorities of a Winning Life
by Tony Dungy with Nathan Whitaker
— when Tony Dungy led the Indianapolis Colts to victory in Super Bowl XLI – and made history as the first African American coach to win the big game – millions of people, amazed by the success of his quiet, authoritative leadership style, wondered: how did he get it done? This fascinating memoir reveals the secrets to Dungy’s success. His thoughts on leading, succeeding, and attaining true significance will inspire you to take a long, hard look at the things that really matter in life.

Heroic Leadership: Best Practices from a 450-Year-Old Company
That Changed the World
by Chris Lowney
What can a 16th-century priest tell a 21st-century business executive about leadership? Plenty, believes this author, who points out that from a 10-man “company” founded by St. Ignatius Loyola in 1540, the Jesuits are now the world’s largest religious order, with 21,000 professionals. In this absorbing, lucid book, Lowney, who left a seven-year stint as a Jesuit seminarian to become a managing director at J.P. Morgan, explores how the Jesuits have successfully grappled with challenges that test great companies-forging seamless multinational teams, motivating performance, being open to change and staying adaptable.

Editor’s Note: Chris Lowney was a guest on NoQuarter Radio’s “Sense on Cents with Larry Doyle” on Sunday, April 19, 2009. Listen to an audio recording of the show.