One of the most frequent questions I get asked on Twitter is: What books should I read if I want to work on Wall Street?
Mention Ayn Rand or Sun Tzu and you’re likely to elicit the NSFW version of the eye roll. And forget about Machiavelli. A Zagat’s restaurant guide would do more for your banking career than The Prince (although you should still read it).
So, I canvased my library and checked in with a few old colleagues and friends to come up with a solid list.
Although, there is one glaring omission: an omniscient, behind-the-curtain look at the corruption, conflicts, and deviance that is pervasive on Wall Street - a book that Barron’s called “a classic of the genre.” But, humility prevails.
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1. Den of Thieves
Author: James B. Stewart
Description: The is probably my favorite Wall Street book; it’s an exceptionally well-researched and captivating account of the insider trading scandal that ripped Wall Street apart and brought down Michael Milken. If you enjoy this, it’s also worth reading The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the Junk Bond Raiders.
2. Meditations
Author: Marcus Aurelius
Description: Here’s a sage perspective on the importance of humility and stoicism. When you feel like you’re at the center of the world, and working on deals that make the Wall Street Journal, it’s good to keep life in perspective. Or as Aurelius said, “words that everyone once used are now obsolete, and so are the men whose names were once on everyone's lips.”
3. Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System--and Themselves
Author: Andrew Ross Sorkin
Description: This is the defining, fly-on-the-wall account of the financial crisis that reshaped Wall Street as an industry and as a culture. It’s rich with details, reconstructed from hundreds of interviews, but still highly entertaining. Read the book, but skip the movie. Lloyd Blankfein is played by Charlie Runkle from Californication in the HBO adaption.
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