Recommended Reading for the Holidays 2020

It's been a while since we posted a recommended reading list, so here's some ideas as well as recent recommendations from prominent hedge fund managers.

Recommended Reading for the Holidays 2020

Quality Investing: Owning the Best Companies for the Long Term by Lawrence Cunningham, Torkell T Eide & Patrick Hargreaves - Dan Loeb (Third Point) recently recommended this book in a quarterly letter

 

No Rules Rules: Netflix and the Culture of Reinvention by Reed Hastings - Another recommendation from Loeb is the Netflix founder's new book

 

Unknown Market Wizards: The Best Traders You've Never Heard Of by Jack Schwager - Brand new book by the author famous for profiling top money managers

The Other Half of Macroeconomics and the Fate of Globalization by Richard Koo - Li Lu (Himalaya Capital) recommended this to Mohnish Pabrai, per Pabrai's Twitter

 

The Art of Learning: An Inner Journey to Optimal Performance by Josh Waitzkin - Recommended by hedge fund manager Yen Liow (Aravt Global) in a recent talk

Genghis Khan and the Making of the Modern World by Jack Weatherford - Another pick from Liow

 

How to Decide by Annie Duke - The brand new follow-up to her previous excellent book, Thinking in Bets

 

Investing for Growth: How to Make Money by Only Buying the Best Companies in the World by Terry Smith - Newly released from the Fundsmith crew

 

The Psychology of Money by Morgan Housel - Brand new book by the prolific financial writer

Language, Truth and Logic by Alfred Ayer - Recommended by Nick Kokonas (Alinea Group) on Patrick O'Shaughnessy's podcast Founder's Field Guide

 

Lastly, if you're looking for a gift idea for friends, partners, clients, or employees, here's a quick one:

Incerto (Deluxe Edition) by Nassim Taleb - This set of hardcovers is fantastic and includes all of Taleb's great books: Fooled by Randomness, The Black Swan, Antifragile, Skin in the Game, and The Bed of Procrustes

What We're Reading ~ 10/30/19

The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution [Gregory Zuckerman]

How TikTok holds our attention [The New Yorker]

Inside the Nordstrom dynasty [NYTimes]

Is Amazon unstoppable? [The New Yorker]

Schwab kills commissions to feed its flywheel of scale [Intrinsic Investing]

Learning from Costco's Jim Sinegal [MastersInvest]

How Irish butter Kerrygold conquered America's kitchens [Bloomberg]

TheRealReal: the internet's luxury consignment shop [The New Yorker]

On the importance of humility [NYTimes]

With summer over, will hard setlzer's popularity go away? [LATimes]

The strange revival of vinyl records [The Economist]

On filtering the barrage of financial news [CFA Institute]

What We're Reading ~ 10/23/19

Blackstone CEO's new book: What It Takes [Stephen Schwarzman]

Taking a look at Domino's [Timberwolf Equity Research]

Quick new interview with Peter Lynch [Fidelity]

Denise Chisholm on historical sector valuations [Barrons]

With DataXu buy, Roku unveils big ad ambitions [Digiday]

At Costco, everything resonates with the consumer [Retail Dive]

Disney, IP, and returns to marginal affinity [Matthew Ball]

Apple Pay and the future of mobile payments [PYMNTS]

Technical overview of Elastic (ESTC) [Motley Fool]

Inside Apple's long, bumpy road to Hollywood [Hollywood Reporter]

20 countries that will face population declines [Business Insider]

What We're Reading ~ 10/16/19

The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of Walt Disney [Bob Iger]

The active manager paradox: high-conviction overweight positions [CFA Institute]

In-depth piece on Amazon: Jeff Bezos's master plan [The Atlantic]

How cloud gaming will and won't disrupt [Matthew Ball]

A look at TradeDesk [Greytab Investments]

A pitch on Interactive Brokers [Barrons]

On unsustainable consumer subsidies in the new app world [The Atlantic]

Recent commentary from Bill Nygren [Oakmark]

Top 20 business transformations of the last decade [HBR]

TJMaxx prices, experience make it immune to Amazon [Business Insider]

T. Boone Pickens on what made him successful [Twitter]

How baseball cards got weird [The Atlantic]

What We're Reading ~ 9/18/19

Super Pumped: The Battle for Uber [Mike Isaac]

Inside the rise and fall of MoviePass [Business Insider]

Interview with Shopify's COO [Barrons]

Talking types of moats with Pat Dorsey [Outlook Business]

Profile of UiPath's Daniel Dines: the bot billionaire [Forbes]

Value investing's heady days aren't coming back [Institutional Investor]

A look at Berkshire Hathaway [Morningstar]

The economics of meal delivery [The Economist]

On Amazon's balance between reinvestment and harvesting [Stratechery]

Less than half of Google searches now result in a click [SparkToro]

On McCormick's spices resurgence [Forbes]

A profile of Unilever's old CEO Paul Polman [NYTimes]

What We're Reading ~ 9/4/19

Certain to Win: The strategy of John Boyd, applied to business [Chet Richards]

The commoditization of information [Geoff Yamane]

Position sizing: why conviction matters [Intrinsic Investing]

The problem with believing what we're told [WSJ]

How a Canadian firm has taken on Wall Street's private equity titans [Economist]

Research on the financial performance of collectibles [Alpha Architect]

Peloton is a phenomenon: can it last? [NYTimes]

A skeptical look at Peloton churn [Inquisitive Investor]

Peloton bikes are the real deal [The Margins]

How Amazon's shipping empire is challenging UPS & FedEx [WSJ]

Amazon's next-day delivery has brought chaos and carnage to streets [BuzzfeedNews]

The man behind the biggest beauty brands in the world [Coveteur]

Aston Martin tried to replicate Ferrari's IPO success but shares are down 75% [Fortune]

On the importance of broadcasting income to European football clubs [Swiss Ramble]

5 lessons from Microsoft's antitrust woes by people who lived it [NYTimes]

Hedge Fund Links ~ 8/30/19

The stock picker versus portfolio manager communications challenge [Harvest]

Good writers make better hedge fund managers [Institutional Investor]

Hedge funds take record short positions against Aston Martin [FT]

Viking Global curbs investor redemptions to aid VC push [FT]

Third Point builds stake in Essilor Luxottica [Reuters]

Quick interview with Michael Burry on Gamestop [Barrons]

Why Mario Cibelli likes GrubHub, Becle & e.l.f. [Barrons]

Notes from a recent trip to China [Cederberg Capital]

Hedge fund Saba Capital spars with BlackRock and Neuberger [WSJ]

A look back: the Bloomberg keyboard [Bloomberg]

What We're Reading ~ 8/28/19

The network effects manual: 13 different types [NFX]

A look at Wells Fargo (WFC) [Sabre Capital]

SmileDirectClub's IPO highlights promises, pitfalls for DTC companies [Modern Retail]

How the recession of 2020 could happen [NYTimes]

Framework for evaluating enterprise software companies [Shomik Ghosh]

How Elon Musk gambled Tesla to save Solar City [Vanity Fair]

Streaming video will soon look like the bad old days of TV [Matthew Ball]

LaCroix won the bubble battle, but it's losing the sparkling water war [Bloomberg]

How Uber got lost [NYTimes]

The making of Amazon Prime [Vox]

China internet report [SCMP]

The real story of the brand Supreme [GQ]

Red flags on the WeWork IPO: WeWTF [Prof Galloway]

WeWork as the AWS of real estate? [Stratechery]

Harry Markopolos' write-up on General Electric [GEFraud]

What We're Reading ~ 5/22/19

The Culture Cycle: How to Shape the Unseen Force that Transforms Performance [James Heskett]

Xi Jinping calls for new 'Long March' in sign China preparing for protracted trade war [SCMP]

What stocks Baillie Gifford likes now [Barrons]

What can long-term investors learn from traders? [Fundoo Professor]

The greatest investor you've never heard of: an optometrist [Forbes]

A capacity to suffer and setting the right expectations [Scuttlebutt Investor]

The start-ups building dark kitchens for Uber Eats and Deliveroo [FT]

How a cheap, brutally efficient grocery chain is upending American supermarkets [CNN]

Media companies are eyeing cash from sports betting [Axios]

US whiskey stocks have soared; beware the bourbon bubble [Barrons]

Sears's seven decades of self-destruction [Fortune]

Real estate's latest bid: Zillow wants to buy your house [NYTimes]

The world's greatest delivery empire made it cheaper to order in than eat out [Bloomberg]

Profile of e-commerce company Wish [Forbes]

Mr. Market got inside your head; don't let him mess with you [WSJ]

The ultimate productivity hack is saying no [James Clear]

Mapping the world's busiest air routes [Visual Capitalist]

Broyhill's Best Books of the Year

Broyhill Asset Management is back again with its yearly free Book Club featuring the best books of the year.  Perfect timing with summer vacation right around the corner.  You can check out their list of top recommendations here. 

We featured their picks last year too and this time around their list spans a myriad of topics apart from just investing.  After all, numerous successful investors have talked about how it's important to read across various subjects. 

While we occasionally highlight a book in our "What We're Reading" posts, this is a large compilation of recommendations from another trusted source.  Broyhill also provides a quick blurb on why a specific book was worth reading or what insights were gleaned from it.

Click here to check out Broyhill's favorite books

What We're Reading ~ 3/20/19

T. Rowe Price: The Man, The Company & The Investment Philosophy [Cornelius Bond]

How to take the outside view [McKinsey]

Pitch on short Tesla [Dropbox]

What is Amazon [Zack Kanter]

Allen Zhang on the key product principles of WeChat [WeChat]

KKR is too cheap [Yet Another Value Blog]

Buying is easy, selling is hard [Bloomberg]

In 12 minutes, everything went wrong: LionAir crash [NYTimes]

The SaaS busines model & metrics [Matrix Partners]

How an app for gamers went mainstream [The Atlantic]

The risk of low growth stocks: Prestige Brands [Intrinsic Investing]

Franchise value: video game IP vs movie IP [Medium]

The 20 craziest investment facts ever [Irrelevant Investor]

Netflix is the most intoxicating portal [NYTimes]

Farmbelt bankruptcies are soaring [WSJ]

ESPN's ex-President wants to build the Netflix of sports [Bloomberg]

Inside HBO's plan to win the streaming wars [Vanity Fair]

Interview with Twitter CEO Jack Dorsey [Rolling Stone]

What We're Reading ~ 3/13/19

The Misbehavior of Markets: A Fractal View of Financial Turbulence [Benoit Mandelbrot]

Transcript of interview with Federal Reserve Chairman Jay Powell [60 Minutes]

Status as a service [Eugene Wei]

The four fundamental skills of all investing [Collaborative Fund]

The perils of investing idol worship: The Kraft Heinz lessons [Aswath Damodaran]

A pitch on Nintendo [HardcoreValue]

A pitch on Molson Coors [Elevation Capital]

A look at the timeshares businesses [Yet Another Value Blog]

A look at HSBC [UK Value Investor]

How internet marketplaces unlock economic wealth [Bill Gurley]

DoorDash tops GrubHub & UberEats in food delivery [Fortune]

Google quietly releases hotel booking with potentially huge implications [Skift]

Pricing algorithms can learn to collude with each other to raise prices [MIT Tech Review]

Not caring: a unique and powerful skill [Collaborative Fund]

On Manchester United: the paradox of profits without trophies [FT]

Investors get burned after betting on electric car metals [WSJ]

What We're Reading ~ 2/6/19

Billion Dollar Whale: The man who fooled Wall Street, Hollywood & the world [Tom Wright & Bradley Hope]

A bunch of pitches: the top stocks for 2019 [SumZero]

Can more information lead to worse investment decisions? [Behavioural Investment]

White gold: the unstoppable rise of alternative milks [The Guardian]

Can baijiu, China's sorghum firewater, go global? [Economist]

Profile of Slack's founder [Wired]

Good Tesla, bad Tesla: duality vexes hot-selling brand [Detroit News]

Why paid memberships are the new loyalty [Business of Fashion]

Tech trends for 2019 [Deloitte]

Profile of 'Canada's Warren Buffett' [Bloomberg]

Mohnish Pabrai's free lunch portfolio [Chai With Pabrai]

The great NFL heist: how Fox paid for and changed football forever [The Ringer]

David Stern built the modern NBA, now he wants to change how we consume sports [Washington Post]

How Shopify built an $800 million partner ecosystem [Digiday]

How much of the internet is fake? [NYMag]

What We're Reading ~ 1/30/19

Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant [W. Chan Kim & Renee Mauborgne]]

Latest thoughts from Ray Dalio [LinkedIn]

Morgan Housel on what other industries teach us about investing [MicroCapClub]

Dominance of tech stocks: an evolve-or-die moment for world's great investors [Fortune]

A global tipping point: half the world is now middle class or higher [Brookings]

A look at Air Lease (AL) [Woodlock House]

Pitch on InterActive Corp (IAC) [LG's Musings]

AT&T wants to be big in entertainment but it has a $49 billion problem [WSJ]

Boeing's decision of the decade: does it build the 797? ]Bloomberg]

How Juul made vaping viral [Techcrunch]

Sports betting in the US: the rise of a billion dollar business [NYTimes]

Mukesh Ambani wants to be India's first internet tycoon [Economist]

How a former Canadian spy helps Wall Street mavens think better [NYTimes]

The best investments of 2018? Art, wine, and cars [WSJ]

A look back at the life of Jack Bogle [Vanguard]

The legacy of Herb Kelleher, co-founder of Southwest Airlines [Harvard Biz Review]

What We're Reading ~ 1/23/19

Seth Klarman's warning on global division and debt [Dealbook]

Why some platforms thrive and others don't [Harvard Business Review]

Customer loyalty is overrated [Harvard Business Review]

Survival is the ultimate performance measure of a business [Intelligent Fanatics]

On Netflix's pricing flex [Stratechery]

Interview with Peloton's CEO [strategy + business]

A look at Ferrari (RACE) [Intrinsic Investing]

Profile of Masayoshi Son, most powerful person in Silicon Valley [FastCompany]

Starbucks' worst nightmare in China is coming true [Forbes]

Direct to consumer brands are mostly spurning Amazon [Digiday]

Not all marketplaces are created equal [Medium]

US birthrate at 30-year low [WSJ]

Stockpickers don't know how to sell [Bloomberg]

On 5G: if you build it, we will fill it [Benedict Evans]

Meet the new payment champions, same as the old ones [WSJ]

How a deluge of money nearly broke the English Premier League [The Guardian]

To cover China, there's no substitute for WeChat [NYTimes]

What We're Reading ~ 1/9/19

Atomic Habits: An easy & proven way to build good habits [James Clear]

On hard choices [Seth Klarman]

Putting recent economic & market moves in perspective [Ray Dalio]

A final decision investment checklist [Value Investing World]

16 ways to measure network effects [Andreessen Horowitz]

The 2019 stock buy list [Crossing Wall Street]

Stock market investors: it's time to hear the ugly truth [MarketWatch]

The world's top 750 family businesses ranking [FamCap]

Disney's Bob Iger interview [Barrons]

On the Kentucky Bourbon resurgence [NYTimes]

Pitch on Radisson Hospitality (RADH) [Yet Another Value Blog]

A look at Cognex (CGNX) and Roku (ROKU) [RGA]

GE powered the American Century - then it burned out [WSJ]

Interview with BNSF's Matt Rose [Railway Age]

The thin line between bold and reckless [Collaborative Fund]

How China's reform transformed poor families into middle class shoppers [SCMP]

Dirty dealing in the $175 billion Amazon marketplace [The Verge]

What We're Reading ~ 11/1/18

More Than You Know: Finding financial wisdom in unconventional places [Mauboussin]

Lots of great charts looking at the macro environment [Insecurity Analysis]

The underappreciated role of luck in investing [Validea]

Investors, look up from your algorithms [Daniel Arbess]

Is there a new world debt crisis on the horizon? [World Economic Forum]

The biggest mistakes bosses make when making decisions [WSJ]

To boost the economy, let's first change how we measure it [Marketwatch]

Profile of Johnson & Johnson (JNJ) [WSJ]

How Best Buy (BBY) survived the retail apocalypse [The Week]

A look at Netflix's (NFLX) culture [WSJ]

Uber's secret restaurant empire [Bloomberg]

Why battling bugs is a booming business [Harding Loevner]

Why one of the biggest mall owners is doubling down on malls [WSJ]

Bao Fan: China's tech dealmaker [FT]

There have never been so many bonds that are almost junk [WSJ]

Why sports teams may get more valuable [WSJ]

What We're Reading ~ 10/24/18

Big Mistakes: The Best Investors and Their Worst Investments [Michael Batnick]

Fortune's Future 50 list: companies with best prospects for long-term growth [Fortune]

On shallow risk versus deep risk [A Wealth of Common Sense]

On Netflix's pricing power [Intrinsic Investing]

The quality of quantity at Netflix [FT Alphaville]

The economic cycle that just won't end [Morningstar]

Profile of businessman Tilman Fertitta [SBNation]

Louis Vuitton, Chanel most valuable brands but Gucci is gaining [Business of Fashion]

Amazon sets sights on the $88 billion online ad market [NYTimes]

How car ownership is changing rapidly in India [Economic Times]

Where to invest when US equities are overvalued [Mutual Fund Observer]

What We're Reading ~ 10/16/18

Why family businesses outperform [Credit Suisse]

Exclusive interview with Amazon founder Jeff Bezos [Forbes]

Op-ed from AQR's Cliff Asness: Buyback derangement syndrome [WSJ]

The untold story of Stripe, the secretive $20 billion payments startup [Wired]

Profile of the owner of the In-N-Out burger chain [Forbes]

Bob Iger's bets are paying off big time for Disney [TIME]

Pitch on Henry Schein (HSCI) [Spruce Point Management]

A pitch on Tempur Sealy [Barrons]

A capacity to suffer and setting the right expectations [Scuttlebutt Investor]

Can Larry Culp fix General Electric? [WSJ]

LendingTree is the secret success story of FinTech [TechCrunch]

Why facts don't change our minds [James Clear]

Atomic Habits: An easy and proven way to build good habits [James Clear]

A day in the life of a Waymo self-driving taxi [The Verge]

The gambler who cracked the horse-racing code [Bloomberg]

What We're Reading ~ 10/3/2018

The decision matrix: how to prioritize what matters [Farnam Street]

Sustainable sources of competitive advantage [Collaborative Fund]

Deep dive on wireless future: 5G [Axios]

How Shopify is the platform powering the direct-to-consumer revolution [Digiday]

Why Google Fiber is high-speed internet's most successful failure [HBR]

Pulling back the curtain on how SoftBank's massive Vision Fund works [TechCrunch]

A pitch on Yelp [Barrons]

Inside the world's fastest growing food delivery service [Eater]

Food delivery apps are impacting your favorite restaurants [Democrat & Chronicle]

How seltzer/sparkling water is upending coffee and beer [WSJ]

App-only banks rise in Europe and aim at traditional banks [NYTimes]

For some platforms, network effects are no match for local know-how [HBR]

David Rubenstein interviews Amazon's Jeff Bezos [YouTube]

How TripAdvisor changed travel [The Guardian]

The $29 billion battle to own how America sleeps [Fast Company]

How Paytm clinched its Berkshire Hathaway investment [Economic Times]

'Peak car' and the end of an industry [Bloomberg]