Below is my list of the top books that chat about stock distributions and rare events. I also included some market history and bubbles lists too for comparison. Is there anything important I’m missing? (I’ll have a follow up post with some academic papers on financial return distributions). All from the Reading List:
Stock Distributions
- Why Stock Markets Crash: Critical Events in Complex Financial Systems - Didier Sornette
- The Misbehavior of Markets by Benoit Mandelbrot
- Fooled by Randomness and The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb
- Finding Alpha – by Eric Falkenstein
- Market Volatility – Robert Shiller
- Optimal Portfolio Modeling – Philip McDonnell
- Fractal Market Analysis - Edgar Peters
- More Than You Know: Finding Financial Wisdom in Unconventional Places - Michael Mauboussin
- The Failure of Risk Management: Why It’s Broken and How to Fix It – Douglas Hubbard
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Market Bubbles
- Manias, Panics, and Crashes by Charles Kindleberger
- Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay
- The Prize: The Epic Quest for Oil, Money, & Power by Daniel Yergin
- The First Tycoon: The Epic Life of Cornelius Vanderbilt by TJ Stiles
- Irrational Exuberance – by Robert Shiller
- A Short History of Financial Euphoria and The Great Crash 1929- John Kenneth Galbraith
- The Panic of 1907: Lessons Learned from the Market’s Perfect Storm - Mark Bruner
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History of Markets
- Triumph of the Optimists: 101 Years of Global Investment Returns by Elroy Dimson, Paul Marsh, and Mike Staunton
- Stocks for the Long Run by Jeremy Siegel
- Reminiscences of a Stock Operator by Edwin LeFèvre
- When Genius Failed by Roger Lowenstein
- Capital Ideas, Capital Ideas Evolving, and Against the Gods by Peter Bernstein
- Ibbotson Yearbook by Ibbotson Associates
- The CRB Commodity Yearbook by Commodity Research Bureau
- The Essays of Warren Buffett by Warren E. Buffett and Lawrence A. Cunningham
- Fortune’s Formula by William Poundstone
- The Myth of the Rational Market - Justin Fox
- The Great Game: The Emergence of Wall Street as a World Power: 1653-2000 – John Gordon
The Panic of 1907 – Lessons Learned from the Market's Perfect Storm
-Robert F. Bruner/Sean D. Carr (UVA boys by the way…)
Bull: A History of the Boom & Bust, 1982-2004 by Maggie Mahar.
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Don't forget “Devil Take the Hindmost: A History of Financial Speculation” by Edward Chancellor. A terrific read on the history of various bubbles.
Wouldn't “The Prize” fit better in the History of Markets category? I can't imagine a more thorough study of the entire history of the oil business.
I'm not done with reviewing it yet, but “This time is Different” by Reinhart and Rogoff looks good.
It would be great to see the year of the first printing and its current printing. Great list. Thanks
Can you fit Ed Easterling's book Unexpected Returns in there? Absolutely outstanding.
Conquer the Crash by Robert Prechter. Best “bubble book” ever written.
His 2002 edition was like he wrote it with a Crystal ball, incredible insights. Made very specific calls on the crash of 2008 that played out just as he predicted they would. Just released an updated version for 2009 as the DOW hit 10,000 on the rebound from March. If he us even a fraction as accurate as he was in his 2002 edition at predicting the bear markets movements it will save many people a fortune. For those that choose to speculate on his advice my bet is they will make a fortune. Don't read it and act at your own risk.
Conquer the Crash by Robert Prechter. Best “bubble book” ever written.
His 2002 edition was like he wrote it with a Crystal ball, incredible insights. Made very specific calls on the crash of 2008 that played out just as he predicted they would. Just released an updated version for 2009 as the DOW hit 10,000 on the rebound from March. If he us even a fraction as accurate as he was in his 2002 edition at predicting the bear markets movements it will save many people a fortune. For those that choose to speculate on his advice my bet is they will make a fortune. Don't read it and act at your own risk.