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A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation
Why do markets keep crashing and why are financial crises greater than ever before? As the risk manager to some of the leading
firms on Wall Street–from Morgan Stanley to Salomon and Citigroup–and a member of some of the world’s largest hedge funds, from
Moore Capital to Ziff Brothers and FrontPoint Partners, Rick Bookstaber has seen the ghost inside the machine and vividly shows
us a world that is even riskier than we think. The very things done to make markets safer, have, in fact, created a world that
is far more dangerous. From the 1987 crash to Citigroup closing the Salomon Arb unit, from staggering losses at UBS to the demise
of Long-Term Capital Management, Bookstaber gives readers a front row seat to the management decisions made by some of the most
powerful financial figures in the world that led to catastrophe, and describes the impact of his own activities on markets and
market crashes. Much of the innovation of the last 30 years has wreaked havoc on the markets and cost trillions of dollars. A
Demon of Our Own Design tells the story of man’s attempt to manage market risk and what it has wrought. In the process of showing
what we have done, Bookstaber shines a light on what the future holds for a world where capital and power have moved from Wall
Street institutions to elite and highly leveraged hedge funds.
The Panic of 1907: Lessons Learned from the Market's Perfect Storm
Though business professors Bruner and Carr approach their subject, the spectacular financial crisis that gave America the FDIC
and the Federal Reserve, with grave pedantry, they devote the majority of the book to the more colorful events and personalities
of the crisis, which even academic prose cannot dull. The chronicle follows one speculator's attempt to corner the copper market,
which leads to panic, the failure of banks and trusts and the impending bankruptcy of New York City. In the midst of chaos, one
man was able to halt the domino effect with calm, character and capital: J. Pierpont Morgan. The Panic, the authors note, hit
America at a moment eerily similar to our own: coming off 50 years of postwar economic expansion with a Republican "moralist"
in the White House, an increasingly interventionist government, the formation of enormous new corporate conglomerates and a
muckraking news media fueling resentment.
Trading for a Living: Psychology, Trading Tactics, Money Management
As a professional trader, technical analysis expert, and practicing psychiatrist, Dr. Elder helps aspiring
traders step away from the crowd of amateurs. He presents a comprehensive system for trading stocks,
futures, currencies, and options. This book provides provides a complete course in the three M's of
successful trading: Mind, Method, and Money.
Come Into My Trading Room: A Complete Guide to Trading
This comprehensive trading guide provides a complete introduction to the essentials of successful trading; a fresh
look at the three M's, including a proven, step-by-step money management strategy; and an in-depth look at organizing
your trading time. A Complete Book of Trading reviews the basics of trading stocks, futures, and options as well as
crucial psychological tactics for discipline and organization--with the goal of turning anyone into a complete and
successful trader. By showing traders how to combine the elements of mind, method, and money, A Complete Book of
Trading gives readers the knowledge and insight to enter the market with confidence and exit with profits.
Getting Started in Currency Trading : Winning in Todays Hottest Marketplace
Getting Started in Currency Trading is both an introduction and reference tool for beginning and intermediate foreign
exchange (Forex) traders. This information-packed resource opens with a description of the Forex market and a section of
clearly defined Forex terms with examples. You'll learn how to open your own trading account by following step-by-step
instructions and numerous screen shots that show you what expect inside a dealer's trading platform. You'll walk through
the physical process of placing and liquidating currency orders. Later chapters introduce various trading strategies and
tactics in detail, along with some fundamental and technical analysis that will help you win in the exploding foreign exchange
trading market.
Beating the Street
by Peter Lynch, John Rothchild
Beating the Street examines famed money manager Peter Lynch's common sense approach to the
stock market and individual securities analysis. For both layman and expert, he provides clear insights
into the seemingly complex task of making money in the stock market. Lynch, for those unfamiliar with the pantheon of
investment gods, managed Fidelity's flagship Magellan fund for more than 20 years, compounding
one of the most fantastic performance records ever.
Stock Patterns for Day
Trading
Written by a professional full time stock trader who makes his living from
short term trading in individual stocks, this book discloses, in
detail, the strategies and methods he uses in his own trading, and provides
invaluable advice to those who seek to profit from short term and
intraday price swings.
How I Trade for a Living
Making a living trading from home is the dream of just about every
trader and active investor. Gary Smith offers his simple trading strategy,
without the complex indicators or heavy charts, that can be used by
anyone anywhere to make a killing and earn a living.
New Trading Dimensions: How to Profit from CHAOS in
Stocks, Bonds, and Commodities
As today’s market environment continues to change dramatically, more
and more traders are discovering that traditional forecasting
methods---pure technical analysis and fundamental analysis---just do
not work. Sending out contradictory messages, these opposing schools
of thought leave investors baffled about the futures direction of the market, and consequently, at a
loss as to how to tailor their trading systems. As a result, many practitioners have now turned to a
new forecasting cocktail that combines traditional charting methodologies with chaos theory and
human psychology. In this groundbreaking book, Bill Williams, a seasoned trader at the forefront of
this dynamic new approach, explains exactly what it is, how it works in current stock and
commodity markets, and how to use it to your advantage.
Technical Analysis of Stock Trends (7th Ed.)
The #1 all-time classic on analysis of bar charts. Many knowledgeable
technicians consider this to be best book on chart patterns ever written!
It is absolute MUST reading for any student of technical analysis. In
addition to chart patterns themselves, explores the psychology that lies
behind their evolution and resolution.
Street Smarts
This book was written by two expert traders who have teamed up to
write a text that every serious trader should not be without. It is
considered one of the best manuals on short term trading.
This book is written for the active trader. It is a compilation of strategies that the two of them
have been trading with for the last 15 years in both equities and futures.
Encyclopedia of Trading Strategies
The Encyclopedia of Trading Strategies is for traders who want to take
the next step to consistently profitable trading. The authors--themselves
seasoned veterans of the futures trading arena--pinpoint the trading
methods and strategies that have been shown to produce
market-beating returns. Their rigorous and systematic backtesting of
each method, using the same sets of markets and analytic techniques,
provides a scientific, system-based approach to system
development...to help you assemble the trading system that will put you
on the road to becoming a more consistently profitable trader.
Trade Your Way to Financial Freedom
The book is clearly written and makes generous use of practical examples and models. The principles he [Tharp] promotes
for traders, if followed closely, can be applied to a wide group of investors. This book book gets directly to the heart
of what it takes to be a successful trader.
Professional Stock Trading: System Design and Automation>
Learn the art and science of trading systems from professional speculators. The authors share powerful long and short trading
strategies that span all time frames, including over one hundred annotated charts with commentary and rationale. The book
contains a complete implementation of a professional trading platform, including dozens of TradeStation strategies, indicators,
and functions. Further, advanced trading techniques such as pair trading and float trading are explained. These systems are
integrated into a fully automated framework for position sizing and trade management. Finally, follow the authors as they
track their stock selections throughout the week in real time.
Recommended Reading
Freakonomics : A Rogue Economist Explores the Hidden Side of Everything
Forget your image of an economist as a crusty professor worried about fluctuating interest rates: Levitt focuses his
attention on more intimate real-world issues, like whether reading to your baby will make her a better student.
Recognition by fellow economists as one of the best young minds in his field led to a profile in the New York Times,
written by Dubner, and that original article serves as a broad outline for an expanded look at Levitt's search for the
hidden incentives behind all sorts of behavior. There isn't really a grand theory of everything here, except perhaps
the suggestion that self-styled experts have a vested interest in promoting conventional wisdom even when it's wrong.
Instead, Dubner and Levitt deconstruct everything from the organizational structure of drug-dealing gangs to baby-naming
patterns. Underlying all these research subjects is a belief that complex phenomena can be understood if we find the right
perspective. Levitt has a knack for making that principle relevant to our daily lives, which could make this book
a hit. Malcolm Gladwell blurbs that Levitt "has the most interesting mind in America."
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Fortune's Formula : The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
Fortune's Formula is a fascinating study of the connections between such seemingly unrelated topics as gambling,
information theory, stock investing, and applied mathematics. The story involves the stunning brainpower of men
such as MIT professor Claude Shannon, who single-handedly invented information theory, the science behind the
Internet and all digital media; Ed Thorpe; and John Kelly of Bell Laboratories, who developed the "Kelly
criterion," a now-legendary investment strategy for maximizing growth while controlling risk. Initially,
Shannon and Thorpe took Kelly's theory to Las Vegas and applied it to roulette and blackjack. Later, they
took it to Wall Street and cleaned up--Shannon made a personal fortune while Thorpe created the highly
successful hedge firm Princeton-Newport Partners. They both discovered that Kelly's system was particularly
effective when applied to arbitrage (minute price differences that result from market inefficiencies). As
Poundstone ably demonstrates, the merits of Kelly's criterion are still hotly debated today.
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Economic Facts and Fallacies
Economic Facts and Fallacies exposes some of the most popular fallacies about economic issues-and does so in a lively manner
and without requiring any prior knowledge of economics by the reader. These include many beliefs widely disseminated in the
media and by politicians, such as mistaken ideas about urban problems, income differences, male-female economic differences,
as well as economics fallacies about academia, about race, and about Third World countries. One of the themes of Economic
Facts and Fallacies is that fallacies are not simply crazy ideas but in fact have a certain plausibility that gives them
their staying power-and makes careful examination of their flaws both necessary and important, as well as sometimes humorous.
Written in the easy-to-follow style of the author’s Basic Economics, this latest book is able to go into greater depth, with
real world examples, on specific issues.
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 One Up On Wall Street
Lynch, director of the Fidelity Magellan Fund, the nation's largest equity fund ($9 billion in assets),
argues that average investors can beat Wall Street professionals by using the information that they encounter in their
everyday lives. For example, Lynch invested in Hanes after his wife told him about the popularity of L'eggs pantyhose.
Other winning stocks that average investors could have picked well before Wall Street became aware of them include
LaQuinta motels, the Limited clothing store chain and Agency Rent-A-Car, note the authors. They advise readers to look
for spectacular growth among companies that sound dull; do something disagreeable; are spinoffs; are buying back their
own stock. They caution readers to avoid companies touted as the next IBM or Xerox; that are diversifying ("diworseifying");
that depend on a single customer. The book is also a primer on how the stock market works and is written in a light,
entertaining style.
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Technical Analysis of the Financial
Markets
Superb book, exceptionally well written. Both the most
comprehensive book on and a standard reference for technical analysis.
Provides clear and lucid coverage of all major analytical techniques. Major
emphasis on charting as a basis for price forecasting and trading.
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 The Amazing Life of Jesse Livermore: World's Greatest
Stock Trader
Jesse Livermore is considered by many of
todays top Wall Street traders as the greatest trader who ever lived.
For the first time, in one book: his trading secrets, techniques and
stock market methods are revealed. Livermore broke new ground in trading
the market.
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 Dynamic Trading: Dynamic Concepts in Time, Price, and
Pattern Analysis
Learn Dynamic Price Projection
techniques and how to project well in advance the specific price zones for
support, resistance and trend termination.
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Reminiscences of a Stock Operator
If you've ever spent weekends and nights puzzling over whether to buy, sell, or hold a position in
whatever investment--be it stock, bonds, or pork bellies, you'll be glad that you read this book.
Reminiscences of a Stock Operator is full of lessons that are as relevant today as they were in
1923 when the book was first published.
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 The Trading Rule that Can Make You Rich
Discusses a simple but effective method for timing market entry,
based on a technique used by the legendary W.D. Gann, who said of this
method, You can make a fortune by following this one rule alone!
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John Murphy on Chart Analysis
Renowned market
technician John Murphy presents basic principals of technical analysis in
easy-to-understand terms.
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 The Millionaire Next Door
How can you join the ranks of America's wealthy (defined as people whose net worth is over one
million dollars)? It's easy, say doctors Stanley and Danko, who have spent the last 20 years interviewing members
of this elite club: you just have to follow seven simple rules. The first rule is, always live well below your means.
The last rule is, choose your occupation wisely. You'll have to buy the book to find out the other five.
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Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a
pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade
dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks,
while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his
"rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them").
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