I just read an excellent interview to Seth Klarman made by Jason Zweig, at the CFA Institute 2010 Annual Conference in Boston (held 16–19 May) you can download it here: Seth-Klarmanm-Interview-Financial-Analyst-Journal. He mentions a lot of very interesting things but since I already read it and I always like to learn more I will mention the books he recommends so that I can get my hands on them as soon as possible, here is what he says:
Zweig: Can you recommend a few books
other than those by Graham and Dodd that our
audience might enjoy?
Klarman: Certainly. First, however, let me
say that Graham’s The Intelligent Investor, which
you recently revised, is probably more accessible
than Graham and Dodd’s Security Analysis,
although the nifty thing about the sixth edition of
Security Analysis is the updated comments.
Joel Greenblatt’s You Can Be a Stock Market
Genius is tactical and includes some very specific
and interesting strategies, and The Aggressive Con-
servative Investor, by Marty Whitman and Martin
Shubik, is also very interesting.
Anything Jim Grant writes is wonderful. Even
if he’s not always right on his predictions, he is
among the best thinkers and financial historians.
Michael Lewis has never written a bad book.
Moneyball is about value investing. Looking back
20 years from now, The Big Short may be the defin-
itive book about this era. It is about a microcosm,
but the microcosm explains everything. Andrew
Ross Sorkin’s Too Big to Fail is fabulous, as is
Roger Lowenstein’s The End of Wall Street.11 In fact,
all of Roger Lowenstein’s books are excellent, and
so we should read everything Roger has written.
Never stop reading. History doesn’t repeat,
but it does rhyme. Jim Grant has a wonderful
expression: In science, progress is cumulative, and
in finance, progress is cyclical. Fads will come and
go, and people will think we are on to a new thing
in finance or investing; but the reality is that it is
probably not really new, and if we have seen the
movie or read the book, maybe we know how it