Morgan Stanley recommends the following books to young employees, interns, and job candidates for their continued education of the financial industry.
History Tidbit: The Founding of Morgan Stanley
In 1933, the Glass-Steagall Act, and the broader U.S. Banking Act of 1933, mandated that commercial banking and investment banking operations could not function under a single holding entity. In response, the partners at J.P. Morgan & Co. led by Henry S. Morgan (grandson of the legendary J.P. Morgan) and Harold Stanley opened Morgan Stanley for business on 16-September -1935. Morgan Stanley currently has 60,000 employees in 1300 offices and operates in 42 countries.
Recommended Books on Legendary Investors and Personalities
- ‘Beating the Street’ by Peter Lynch, John Rothchild
- ‘Market Wizards: Interviews with Top Traders’ by Jack D. Schwager
- ‘Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger’ by Janet Lowe
- ‘Den of Thieves’ by James B. Stewart
Recommended Books on “The Great Financial Houses”
- ‘Too Big to Fail’ by Andrew Ross Sorkin
- ‘Greed and Glory on Wall Street: The Fall of House of Lehman’ by Ken Auletta
- ‘Liar’s Poker: Rising Through the Wreckage on Wall Street’ by Michael Lewis
- ‘The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance’ by Ron Chernow
- ‘When Genius Failed: The Rise and Fall of Long-Term Capital Management’ by Roger Lowenstein
- ‘Morgan: American Financier’ by Jean Strouse
Recommended Books on Capital Markets, Financial Industry, and History
- ‘Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets’ by Nassim Nicholas Taleb
- ‘The Practical Guide to Wall Street: Equities and Derivatives’ by Matthew Tagliani
- ‘The Predators’ Ball: The Inside Story of Drexel Burnham and the Rise of the Junk Bond Raiders’ by Connie Bruck
- ‘Secrets of the Temple – How the Federal Reserve Runs the Country’ by William Greider
- ‘Classics: An Investors Anthology’ by James R. Vertin, Charles D. Ellis
- ‘Security Analysis’ by Benjamin Graham and David Dodd
- ‘Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor’ by Seth A. Klarman
- ‘Reminiscences of a Stock Operator’ by Edwin Lefevre, Jon D. Markman, Paul Tudor Jones
- ‘Extraordinary Popular Delusions and the Madness of Crowds’ by Charles Mackay
- ‘Devil Take the Hindmost: A History of Financial Speculation’ by Edward Chancellor
- ‘Money Masters of Our Time’ by John Train
- ‘The Warren Buffett Way’ by Robert G. Hagstrom, Ken Fisher and Bill Miller
- ‘The Intelligent Investor’ by Benjamin Graham