Here is the ninth installment of my Trader’s Wish List.
Consider this the Quantum Fund collection. It features a group of books by and-or-about George Soros and Jim Rogers, who founded the famous hedge fund many years ago. Both, obviously, have gone on to become world famous traders in their own rights since they went their seperate ways some time back.
The first two books were written by George Soros. Probably best known for making $1 billion shorting the British Pound prior to it’s breaking out of the European Exchange Rate Mechanism (ERM – the European currency system that was precursor to the system that would eventually lead to the Euro currency), his name carried enormous weight in the market for years. Even the hint that Soros was taking a position in something could send prices flying.
The Alchemy of Finance is probably the more useful of the two in terms of being focused on trading and the markets. Soros on Soros is more an autobiographical work. That certainly is not to say it isn’t a worthy read. Obviously, trading and the markets have played a huge role in his life. A large portion of the book is related to his trading and philosophies.
Most of Soros’ more recent writing seems to be more geopolitical than market oriented. That includes Open Society: Reforming Global Capitalism, George Soros on Globalization, and The Age of Fallibility: Consequences of the War on Terror. I haven’t read any of these as yet, but the last one is on my own current wishlist.
Jim Rogers has been a much more visible character in the markets as a frequent commentator, so you are probably more familiar with him and his style (trading and manner of dress). He is about as fundamentally oriented as one could possibly. Doesn’t care a whit for charts and happily admits so. He’ll often sit in positions for long periods of time waiting for the market to turn in his favor, as he knows it eventually will.
A while back, Rogers took an around the world motorcycle road trip. The book Investment Biker is came out of that experience. It’s part travelogue and part in depth macroeconomic analysis of many regions of the world as they were at the time of his venturing through them. Although I cannot envision myself following in his footsteps as a trader/investor, reading this book was still something I got a lot out of and enjoyed.
Adventure Capitalist is a kind of sequel. Another world tour, this time in a car. I personally haven’t read it, but it is well ranked on Amazon, so it must have some value. Rogers also put out Hot Commodities : How Anyone Can Invest Profitably in the World’s Best Market a couple of years back. That certainly proved to be well timed! Again, I haven’t read it myself yet (do plan on it, though), but the reviews are good. His most recent book is A Bull in China: Investing Profitably in the World’s Greatest Market.