My two favorite questions to those people, immediately after they annunciate their intense desire to work on Wall Street, are:
1) Okay, what are your three favorite Wall Street type books?? You know, that intense desire thing must have driven you to voraciously read up on the "street"!!!!
2) The second question has nothing to do with Wall Street, but merely wakes the person up to use their brain and figure out if they know anything about American History or not?
"When was the Civil War"?
More times than not in the decade of the 90's and 2000's most people were clueless to this answer!!!! To this day I think I am the only one who ever asks this question to students who are interviewing for a Wall Street job. It isn't a be all, end all question, it's just a little something that only I would ask and only I can take something away from it that will tell me we have a gem interviewing today, or a dud. The RIGHT answer is nice, but the discussion that follows the fact that one doesn’t know the answer is even more valuable. It’s not like the math questions that many of my colleague’s ask, but it gets a lot of comments nonetheless.
THE BOOK LIST
I) Wall Street primer's and the ways of the street
Stories in the order I would read them----
Atlas Shrugged by Ayn Rand
· Liar's Poker: Rising Through the Wreckage on Wall Street by Michael Lewis
· Barbarians at the Gate: The Fall of RJR Nabisco by Bryan Burrough
· When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein
· The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the Junk Bond Raiders by Connie Bruck
Financier: The Biography of André Meyer: A Story of Money, Power, and the Reshaping of American Business by Cary Reich
· Den of Thieves by James Brewer Stewart
· Hedgehogging by Barton Biggs
The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb
II) Applications---
· Against the Gods: The Remarkable Story of Risk Paperback by Peter L. Bernstein
· Inside the Yield Book: The Classic That Created the Science of Bond Analysis, New Edition by Sidney Homer and Martin L. Leibowitz
· Just One Thing: Twelve of the World's Best Investors Reveal the One Strategy You Can't Overlook by John F. Mauldin
· Analysis of Financial Statements by Leopold A. Bernstein and John J. Wild
· Security Analysis by Benjamin Graham
III) Five Books that have impacted me-
The Greatest Salesman in the World by Og Mandino—The Scroll’s have power
Halftime: Changing Your Game Plan from Success to Significance by Bob Buford
Adventures of Huckleberry Finn by Mark Twain
The Autobiography of Benjamin Franklin by Benjamin Franklin
When Pride Still Mattered : A Life Of Vince Lombardi by David Maraniss
Next Generation Leader: 5 Essentials for Those Who Will Shape the Future by Andy Stanley
Okay, so said five but this list is a lot longer but these came to mind first so here they are.
I'M ON RECORD!!!!!!!!
UPDATES/ ADDITIONS 2010
Edwin Lefèvre (Author),
Too Big to Fail
Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System---and Themselves [Hardcover]
Andrew Ross Sorkin (Author)MORE UPDATES 2013
Dark Pools; Scott Patterson
Crossing the Chasm
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