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Even as a financial advisor, I will admit that I am constantly learning about new perspectives on personal finance, economics, and entrepreneurship. Here are five books that add something beyond the conventional wisdom.
#1 The Fish that Ate the Whale
This is an ultimate underdog story, and it’s an inspiration to entrepreneurs. Sam goes from selling half-rotten bananas to controlling the global banana industry with significant wealth and vested interests at stake. Along the way he balances his business, family and community goals.
#2 Bourgeois Dignity: Why Economics Can’t Explain the Modern World
Virtually all of our modern comforts have been created in the last 200 years. This is a history of the ideas and achievements that have led the way. It is an inspiring and optimistic outlook that is good to keep in mind when thinking about what the long term future may bring.
#3 A History of Interest Rates – Bonds Can Be Confusing.
This book goes back to ancient Mesopotamia to explain the origins, evolution and cycles of interest rates in the world’s major economies. Not only was the history interesting, but it was also intriguing to learn about how the economic health of countries is reflected in their interest rate patterns.
#4 Extraordinary Popular Delusions and The Madness of Crowds
This book tells the story of the Tulip Bubble, The Crusades, and other prominent historical events. There is fascinating detail on the buildup, peak and fallout of each mania. This offers us valuable insights into the psychology of market cycles, bubbles, and bursts.
#5 Ego Is the Enemy – The markets and life are full of opportunities and challenges.
This book draws from modern and ancient times for lessons about relying on our own talents and acknowledging when we need help.
I consider myself a lifelong learner and am curious to hear about what others are reading. What’s your favorite book about personal finance and economics?