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Welcome back. This week I'll be speaking with Paul Olszewski, Research Director of Miller Gesko in Buffalo, New York. Paul is a CFA with over twenty years of investment industry experience. Prior to Miller Gesko, Paul was the Director of Research and Chairman of the investment council at Harold C. Brown & Company. Paul has also had stints at Merrill Lynch and ABN Amro, and started his career at Value Line Inc.
So, what's in your library Paul?
The Little Book That Beats The Market by Joel Greenblatt
Although this book has a little bit of the feel of an infomercial, the value investing priciples Greenblatt writes about are sound. It's a good book to refer to clients who are interested in the market, but don't have an investment background. It's an easy read, too, so it's a great book to bring on a plane or to the beach. Definitely worth a read!
Liar's Poker by Michael Lewis
Liar's Poker is a comical look at life as a bond trader. This story never gets old! This book is a great conversation starter for people in the business because while we don't all have stories like Lewis' we all do have stories of the crazy things that have happened to us...or our friends while working on the Street.
Band of Brothers by Stephen Ambrose
A good read to help provide some perspective to those who think they have too much stress or pressure in their life. The book recounts the travails of Easy Company during World War II. From D-Day to Hitler's Eagles Nest this unit always seemed to get the toughest assignments and persevered. The horrors these men lived (and died) through make a "tough day in the office" look like a caribbean vacation!
One Up On Wall Street by Peter Lynch
Lynch does a good job of making the complex sound simple. In general, his message is pay attention, and invest in what you know. Don't rely on Wall Street for your information, but instead do your own research as you walk through the malls of America. While all of what he says sounds like a great idea, putting it into practice for the average Joe is likely to get the same result as Tiger Woods saying just swing the club. Even so, for a person with some experience in investments he does have some good ideas that when put into practice, can lead to some great gainers.
Atlas Shrugged by Ayn Rand
What happens when a country embraces Socialism? Look around you. Rand saw it coming in 1957. While the world hasn't turned out exactly as she envisioned (more like a mix of Atlas Shrugged and 1984), there are enough parallels to make you stop and say hmmm. While the story is good and on target, Rand's writing can get a bit tedious. The message here, though, is more important than the messenger and so the book should be a must read for anyone who truly loves freedom.
I always find it interesting to see what books people read because it gives you insight into their thought processes. The managers, analysts and traders that I interview in this blog are all successful professionals. These books have had an impact on their lives and careers. For those of you just starting out in the business, these books can be a great way to gain insights into investing and living. For you "old pros" these books could give you a new way to look at old problems. Either way they are great reads! If you'd like to buy any of these books, just click on the Sniper Book Bin button at the top of the page and it will take you to my store on amazon.com. or just click on The Sniper Book Bin.he right.
While you are in a reading mood, make sure to check out my newsletter, The Sure Shot Letter. It too is a good read. Or