2024 Reads
Image by Rousseau from Pixabay
I read a fair amount these days. I do it strictly for pleasure which frees me to take my time and explore a wide range of topics. While not everything I read is about investing, I find many to have relatable themes. Below is a catalog of books and papers that I consumed over the past year. For a running list of my top recommendations visit the Favorite Reads page and see prior years’ lists here.
Books
Outlive:
The Science and Art of Longevity
by Peter Attia, MD
In Outlive, longevity expert Dr. Peter Attia discusses the science behind living a longer and healthier life. He lays out the known facts about the four main diseases that lead to death in the U.S.—heart disease, cancer, Alzheimer’s disease, and type 2 diabetes—and offers strategies and behavioral recommendations to best avoid them. Outlive impacted me, and I changed some habits as a result.
The Immortal Irishman:
The Irish Revolutionary Who Became an American Hero
by Timothy Egan
Timothy Egan tells the incredible story of Thomas Francis Meagher in The Immortal Irishman. Banished to a Tasmanian prison colony for organizing a failed Irish uprising against the British, Meagher escaped to the U.S. in the 1840s. Here, he led an all-Irish brigade in the Civil War for the Union before mysteriously disappearing while settling in Montana. Meagher is an inspiring historical figure whom I knew nothing about before.
Spy the Lie
Former CIA Officers Teach You How to Detect Deception
by Philip Houston
In Spy the Lie, three former CIA officers share techniques for uncovering lies. Through their stories, readers see how professionals recognize deceptive verbal and nonverbal behaviors. While I’m no better at detecting lies than before reading the book, I found it an interesting read nonetheless.
The Road to Serfdom
by F. A. Hayek
F.A. Hayek’s The Road to Serfdom is a classic work of political economy. In it, Hayek warns of the dangers that follow from state control over the means of production. The classical liberal economist argues that socialism does not lead to the utopia professed by its supporters, but to the horrors of Nazi Germany and Fascist Italy. It has an eerie feel to it when reading it today.
The Cave and the Light:
Plato Versus Aristotle, and the Struggle for the Soul of Western Civilization
by Arthur Herman
Arthur Herman takes the reader on a stunning sweep of human history in his book The Cave and the Light. He shows how the ideas of Plato and Aristotle shaped the culture of Western civilizations throughout time, from the Ancient Greeks to the modern day. I’m a firm believer that ideas shape history, which The Cave and the Light plainly shows. It’s become one of my favorite books.
The Closing of the Western Mind:
The Rise of Faith and the Fall of Reason
by Charles Freeman
In The Closing of the Western Mind, Charles Freeman discusses how the Roman Emperor Constantine’s conversion to Christianity in 368 AD changed the course of history. It turned Rome’s culture away from the relatively open, tolerant, and pluralistic one inherited from the Ancient Greeks towards one dominated by a central authority and viewpoint. This change is still being felt today. The Closing of the Western Mind complements and further drives home the broad theme discussed in The Cave and the Light.
The Reopening of the Western Mind:
The Resurgence of Intellectual Life from the End of Antiquity to the Dawn of the Enlightenment
by Charles Freeman
Charles Freeman wrote The Reopening of the Western Mind as a follow-up to The Closing of the Western Mind. In the former, he discusses how Western thought was reborn after the centuries of stagnation following Rome’s shift to Christianity. The reemergence of tolerance for ideas ushered in the Renaissance, paving the way for the Enlightenment and the modern era. It too pairs well with The Cave and the Light.
Advanced Portfolio Management
A Quant’s Guide for Fundamental Investors
By Giuseppe Paleologo
In Advanced Portfolio Management, Giuseppe Paleologo discusses how quantitative investing techniques can help fundamental investors. By shifting our mindset, we can improve investment outcomes through better portfolio construction and risk management, and without a Ph.D. in mathematics. Paleologo offers tried and true, practical approaches for all levels of sophistication. It’s changed my approach to investing.
Papers
Quantitative Investing
Which Trend Is Your Friend?, by Ari Levine and Lasse Heje Pedersen, 2016.
Economics
Protecting the Sovereign’s Money Monopoly, by Gary B. Gorton and Jeffery Y. Zhang, 2023.
Portfolio Management
Fixed Income
Equities
Confidence: Methods to Assess Confidence Under Uncertainty, by Michael J. Mauboussin and Dan Callahan, CFA, 2023.
The Other Side of Value: The Gross Profitability Premium, by Robert Novy-Marx, 2012.
Marketwide Predictable Price Pressure, by Samuel M. Hartzmark and David H. Solomon, 2021.
Portfolio Management
Stocks for the Long Run? Sometimes Yes, Sometimes No, by Edward F. McQuarrie, 2023.
Other
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Thanks for the references to free banking!
Thanks for the feedback! Reading the history of free banking has been rewarding and eye-opening. I wish it were more widely known.