Warm-weather reads and listens
Jun 04, 2021
Regardless of what stage of opening your province is in, here are the latest books, blogs and podcast recommendations from the Investment team that can keep you socially distanced and mentally active.
The Rise of Carry: The Dangerous Consequences of Volatility Suppression and the New Financial Order of Decaying Growth and Recurring Crisis
by Tim Lee, Jamie Lee and Kevin Coldiron
Not the easiest of reads, as they go into depth explaining many carry & derivative trades. But at its heart, the book is effectively about the suppression of financial volatility that the interventions of central banks and governments have caused. The economic cycle is now a function of bubbles and busts in risk assets in the context of an overall tendency to deflation due to rising debt level as the central banks have painted themselves into the corner by incentivizing the growth in carry. A carry trade is selling volatility. Central banks are agents of the carry trade, believing for some reason, since 1998, that widening spreads are now part of their unofficial mandate. This phenomenon has lead to decaying economic growth, recurring crisis, rising inequality and increased risk taking…because the central bank will be there to bail you out.
Collaborative fund blog
The writings of Morgan Housel at Collaborative Fund.
Thoughtful conversations about what makes certain businesses great.
The Caesars Palace Coup: How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street
by Sujeet Indap and Max Frumes
A thrilling tale of how private equity tried to steal a business and the bond investors that vowed to stop them.
The Sports Gene
by David Epstein
A book that should be read by all who enjoy debating nature versus nurture.
Cable Cowboy: John Malone and the Rise of the Modern Cable Business
by Mark Robichaux
The story of how John Malone built cable companies TCI and Liberty Media, shaping the cable industry that has become the backbone to our digital era.
Lessons from the Titans: What Companies in the New Economy Can Learn from the Great Industrial Giants to Drive Sustainable Success
by Scott Davis, Carter Copeland and Rob Wertheimer
The industrial sector joins the tech sector in being the only other S&P 500 sector to show rising profit margins for each of the last five decades. This book explores what made the highest performing businesses in the industrial sector successful. This is an easy read, written by sell-side analysts who have covered some of the companies mentioned in this book for more than 20 years.
Unknown Market Wizards: The best traders you've never heard of
by Jack D. Schwager
The original Market Wizards by Jack Schwager was published in 1989 and is considered a classic by many. There have been a couple of sequels to the original, all of which are entertaining reads and this one is no different. While the interviews in this edition do not compare to the original, it’s worth spending a couple of hours on a Saturday checking out this book…at least for some nostalgia.
The World For Sale
The World for Sale
by Javier Blas and Jack Farchy
tells the story of the modern-day commodity traders, largely unknown to the public. Commodity traders are the last swashbucklers of global capitalism: doing businesses where other companies don't dare set foot, thriving through a mixture of ruthlessness and personal charm – and often shaping global politics, from Cuba to Iraq, and from Russia to Libya.
The Market Huddle
Each week, derivative specialists Patrick Ceresna and Kevin Muir share a beer with a guest to discuss what happened in the market over the last seven days.
The Pleasure of Finding Things Out
by Richard P. Feynman
Highlights Richard Feynman's curiosity, open-mindedness and willingness to look different from others, which are traits of a great scientist, but also of a great investor.
Where Good Ideas Come From: The Natural History of Innovation
by Steve Johnson
Examining some of the inventions that changed humanity and some of the common traits behind their creation.
The Man Who Knew: The Life and Times of Alan Greenspan
by Sebastian Mallaby
A look at one of the most influential economists in recent times told by those who knew him best.
a16z live – Boss Talk – Beating the Incumbents
A discussion with CAA founder Michael Ovitz (CAA) talks about how he broke into the talent industry by reinventing what it meant to represent a client and creating a network.