With all the craziness this week in the stock market I've become interested in learning about how money works in our society. Fiat currency, the federal reserve, the stock market, etc. Any good book recommendations?
Ask HN: Book recommendations for understanding financial systems?
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Re: Ask HN: Book recommendations for understanding financial systems?
#2Reading Stress Test by Timothy Geithner taught me quite a bit, although it’s not a primer on the financial system but play by play of the financial crisis.
Re: Ask HN: Book recommendations for understanding financial systems?
#3I really enjoyed the graphic novel "Economix: How our economy works (and doesn't work)" by Goodwin & Burr.
I found it informative, clear, concise, and funny at times, all uncommon for educational economic text in my experience.
Re: Ask HN: Book recommendations for understanding financial systems?
#4[deleted]
Re: Ask HN: Book recommendations for understanding financial systems?
#5Since I'm mainly interested in risk and volatility, this list might be a bit biased but here we go:
A random walk down Wallstreet
Options and volatility pricing, by Natenberg
Why stock markets crash, by Didier sornette
Manias, panics and Crashes by Aliber and Kindleberger
Debt: the first 5000 years
Re: Ask HN: Book recommendations for understanding financial systems?
#6You can't go wrong with 'The Big Short'. I saw the film a few times before I ever bought the book, and it's still enlightening.
Re: Ask HN: Book recommendations for understanding financial systems?
#7I started "Big Debt Crises" by Ray Dalio a while ago and so far it's proving to be a very good introduction on what you're looking for.
Re: Ask HN: Book recommendations for understanding financial systems?
#8How The Economic Machine Works by Ray Dalio
https://www.youtube.com/watch?v=PHe0bXAIuk0
I don't agree entirely but good signal-to-noise ratio on this content
Re: Ask HN: Book recommendations for understanding financial systems?
#9For understanding how money works, I’d recommend Debt: The First 5000 Years by David Graeber.
Re: Ask HN: Book recommendations for understanding financial systems?
#10How The Economic Machine Works by Ray Dalio https://www.youtube.com/watch?v=PHe0bXAIuk0 I don't agree entirely but good signal-to-noise ratio on this content
"Ray Dalio says 'cash is trash' and advises investors hold a global, diversified portfolio" - Jan 21 2020
Had you have listened to him, you would have just been taken out back, shot, and put in one of wuhans finest crematoriums… better off reading "Statistical Consequences of Fat Tails"[0]