We’re going to go a little, well, rogue, as we enter the last few days of the year.
Yes, we follow the money and markets and provide insights often overlooked by the mainstream media.
But behind it all is one core ethos that every savvy investor should always keep in mind…
Knowledge is power.
That’s something I learned firsthand during the 15 years I worked in various institutions on Wall Street and in London.
So, how can you equip yourself with knowledge?
Reading. Lots of reading.
If you’re an Inside Wall Street regular, you’ll know I’m an author myself. In fact, I released my seventh book, Permanent Distortion, last year.
So below, I’d like to share some of the books I’ve enjoyed the most or that I’ve got my eye on.
You’ll notice not all the books are about finance. That’s intentional.
Just like investing and watching the markets, having a range of interests and insights can be powerful.
It helps us become more well-rounded as people and as investors.
Knowledge, as Benjamin Franklin once said, is one investment that pays the best interest.
So, I hope you find the chance to dive into a book (or two) as we close the chapter on 2023 – whether it is from my list or your own.
Perhaps this will be just the inspiration you need, or you’ll find some investment wisdom you’re looking for.
At the very least, I hope it’s a good way to spend the time between holiday travel and dinners.
1) The End of the World Is Just the Beginning: Mapping the Collapse of Globalization, by Peter Zeihan
Peter has an immense understanding of the geopolitical and economic sphere that few others even come close to.
In his latest best-selling book, he details how the world as we knew it has irreparably changed, and the globalization that brought countries together has only torn them apart when economic strains come to bear.
2) Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability Will Sink the Global Economy, by Jim Rickards
Jim is an iconoclast. A legend. And a friend. This book came out last December, and somehow, he has done it again. He’s scooped the macroeconomic world.
In this book, he digs into the underlying issues behind the global supply chain problems, challenges, and what the future of trade relations might look like.
3) The Creature from Jekyll Island: A Second Look at the Federal Reserve, by G. Edward Griffin
This book was one of the inspirations and references for my own book, All the Presidents’ Bankers: The Hidden Alliances that Drive American Power.
The Creature from Jekyll Island is as legendary as it is compelling. It’s a libertarian cult classic – and even a decade after being published, it’s still a best-seller.
It reads as a thriller of financial sorts and works to detail the history, secrets, and untold stories of the Federal Reserve.
Want to understand where the Fed might be headed next? A good place to start is understanding where it all started – Jekyll Island.
4) Adrift: America in 100 Charts, by Scott Galloway
Sometimes, you’ve got to visualize the world to understand it best.
This book does an awesome job of breaking down the U.S.’ economic, political, and cultural fragments with charts in a way that’s both fascinating and easy to understand.
5) The Great Gatsby, by F. Scott Fitzgerald
Was this on your required high school reading list? Or on your kids’ required reading list? Probably.
Is this one of my favorite books and a novel I frequently think back to? Absolutely.
Can you use the timely, insightful, and critical messages within Fitzgerald’s work to shape your own thinking? Undoubtedly.
Sometimes, reading fiction helps us understand the world with clearer eyes.
This is a great one to turn to… and fitting for a year with so many economic and social undertones that are as present as they are part of our past.
6) Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones, by James Clear
This book is a great read to launch into 2024. So often, we talk about resolutions and ways to improve in the year ahead. So often, we also come up short.
This book talks about creating small habits to make very big impacts.
Whether you are thinking about your approach to investing or simply day-to-day life, this book offers strategies and real techniques to reconfigure the way you approach things.
7) Do Androids Dream of Electric Sheep?, by Philip Dick
Artificial intelligence (AI) was one of the hottest market trends of 2023. So, Philip Dick’s classic deserved a spot on this year’s list.
The movie Blade Runner, another classic, is based on this book. Both are about what happens when AI interacts with humans or humanity. Can AI have a heart? Can that heart be bigger than the human heart?
AI is as good as its program. But if that program is really good, it can adapt. Then, are we left with a new version of human-AI-kind? And what might that look like?
If you haven’t read it yet, I highly recommend it.
So, there you have it: My top books to read – or gift – this holiday season. If these books make it on your list, I hope you enjoy them.
Do you have any other must-read books on your list? I’d love to hear them!
As always, write me at [email protected]. (Remember, I can’t give personalized financial advice.)
Happy Holidays!
Nomi Prins
Editor, Inside Wall Street with Nomi Prins