Summer list of books, albums and films
Each summer, the bookworms on our Investment team offer suggestions about business-related books or podcasts.
Ubiquity by Mark Buchanan
Scientists recently discovered a new law of nature and its footprints are virtually everywhere – in the spread of forest fires, mass extinctions, traffic jams, earthquakes, stock market fluctuations, the rise and fall of nations and even trends in fashion, music and art. Wherever we look, the world is modelled on a simple template; like a steep pile of sand, it’s poised on the brink of instability. From avalanches to events, ideas or whatever, the world seems to follow a universal pattern of change.
Superforecasting: The Art and Science of Prediction by Philip E. Tetlock
Why are expert predictions only slightly better than chance? Drawing from the results of a decade-long forecasting tournament involving thousands of ordinary people, this book attempts to understand what makes a higher probability forecast and a stronger overall forecaster.
For decades, Annie Duke has been one of the top-ranked poker players in the world. This podcast is a good introduction to someone who wants to understand decision making.
Recommended by George
The Money Game by “Adam Smith” (a pseudonym for George Goodman)
A collection of stories that illuminate the ridiculousness of Wall Street, markets and investor psychology – this is a book written before its time. In 1968, “Adam Smith” had momentum stocks and algorithms all figured out:
“We live in an age of charts and computers, and the thing about charts and computer studies is that they show what is moving, and if everybody plays this game, then what moves is what is already moving.”
Recommended by Derek
The Great Depression: A Diary by Benjamin Rother
An insightful firsthand account of the Great Depression. The author was a young lawyer in Youngstown, Ohio and decided to write a diary about the daily economic occurrences happening both locally and the rest of the U.S. The intent for his diary was to educate himself about the significant economic volatility he witnessed and read about. Unlike all other accounts I’ve read on the Great Depression, the writer had no knowledge of when the Depression would end. Just a long list of daily facts, day after day, with no sense for when things would get better, mixed with many false hopes for a recovery. It’s a great book for young investors to read, especially before their first investment. It will likely add prudence to the stocks or bonds they select, and they’ll stay away from leveraging those investments.
Recommended by Geoff
The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail by Clayton M. Christensen
Recommended by Tye
The long hot days of this summer also inspired us to compile a list of our most influential and personal favourites (book, album, movie). While this list began as an internal initiative, we thought we would share it with you, hoping you’ll find some inspiration or entertainment, or even get your brain cells fired up.