Over the weekend, I spent some time browsing through my bookshelves. In light of reemerging discussion about “Alternatives to 60/40”, here are the books that influenced the design and thinking behind our asset allocation strategy - a dynamic alternative to the static 60/40.
In sum, these books are about: History, Quant and Psychology.
Adaptive Markets by Andrew Lo
Against the Gods by Peter Bernstein
Alchemy of Finance by George Soros
Art of Asset Allocation by David Darst
Big Debt Crises by Ray Dalio
Big Short by Michael Lewis
Bogleheads by Larimore, Lindauer & LeBoeuf
Cointegration, Causality, and Forecasting Engle and White
Devil Take the Hindmost by Edward Chancellor
Demon of Our Own Design by Richard Bookstaber
Equity Risk premium by William Goetzmann and Roger Ibbotson
Expected Returns by Antti Ilmanen
Extraordinary Popular Delusions by Charles MacKay
Factor Investing & Asset Allocation by Naik et al.
Financial Market History by Chambers and Dimson
Flaw of Averages by Sam Savage
Fooled by Randomness by Nassim Taleb
Fortune’s Formula by William Poundstone
Hero with a Thousand Faces by Joseph Campbell
Global Asset Allocation by Meb Faber
Great Crash 1929 by John Galbraith
Hedgehogging by Barton Biggs
Little Book of Behavioral Investing by James Montier
Little Book of Common Sense Investing by John Bogle
Man Who Solved the Market by Gregory Zuckerman
Misbehaving by Richard Thaler
Modern Investment Management by Bob Litterman
Money Changes Everything William Goetzmann
More Than You Know by Michael Mauboussin
Most Important Thing by Howard Marks
The Known, the Unknown by Diebold, Doherty, & Herring
Intelligent Asset Allocator by William Bernstein
Investor Behavior by Kent Baker
Investors and Markets by William Sharpe
Irrational Exuberance by Robert Shiller
Outliers by Malcolm Gladwell
Paradox of Choice by Barry Schwartz
Pioneering Portfolio Management by David Swensen
Portfolio Selection by Harry Markowitz
Psychology of Money by Morgan Housel
Random Walk Down Wall Street by Burton Malkiel
Reminiscences of a Stock Operator by Edwin Lefèvre
Risk Parity Fundamentals by Edward Qian
Sapiens by Yuval Harari
Stocks for the Long Run by Jeremy Siegel
Thinking, Fast and Slow by Daniel Kahneman
Thinking in Bets by Annie Duke
This Time is Different by Reinhart and Rogoff
Trend Following by Michael W. Covel
Way of the Turtle by Curtis Faith