Staying informed on the finance industry is a key part of your career growth. Find out more about major financial events by reading these four books.

Barbarians at the Gate: The Fall of RJR Nabisco by Bryan Burrough and John Helyar

Barbarians at the Gate details the contentious buyout of RJR Nabisco in 1988. Authors Bryan Burrough and John Helyar were Wall Street Journal reporters interviewing hundreds of people involved with the buyout. Company president F. Ross Johnson initiated a leveraged buyout (LBO) of RJR Nabisco. Concerns arose because Johnson was an expert on mergers, not LBOs, and wanted to remodel the company’s business plan, much to the dismay of shareholders. In time, the firm Kohlberg Kravis Roberts (KKR), comprised of LBO experts, entered as an alternative buyer. Through a series of bids often financed through junk bonds, the cost of the LBO continued escalating at a rapid pace until the deal was eventually finalized.

Security Analysis by Benjamin Graham and David Dodd

Security Analysis details what authors Benjamin Graham and David Dodd feel are the essentials for true value investing. Graham and Dodd maintain that using basic analytics such as interest coverage, determining an appropriate margin of safety and correctly interpreting income statements, balance sheets and other financial statements help determine whether a security is being offered at a discount and is worth purchasing.

Manias, Panics, and Crashes: A History of Financial Crises by Charles Kindleberger (2011 edition)

Manias, Panics, and Crashes is Charles Kindleberger’s take on financial crises since capitalism began. Detailing financial crises of the past helps show the boom and bust cycles of the market, stating that there exist exaggerated cycles in the supply of credit that cause manias and crashes over time. Due to Kindleberger’s death in 2003, Robert Aliber of the University of Chicago details the collapse of Lehman Brothers, the deception of Bernie Madoff and other modern-day events in the sixth edition of the book.

Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System—and Themselves by Andrew Ross Sorkin

Too Big to Fail is New York Times business writer Andrew Ross Sorkin’s detailed account of the financial crisis sweeping the U.S. in 2008. Sorkin interviewed over 200 direct participants in the financial collapse. He recounted the events surrounding the government taking over Fannie Mae and Freddie Mac, Lehman Brothers filing for bankruptcy, AIG and other financial institutions receiving a government bailout, companies such as Morgan Stanley and Goldman Sachs becoming bank holding companies so they could stay afloat, and the resulting market panic.

Staying informed about major events in the finance industry helps further your career. When you’re ready to secure your next position, reach out to the placement experts at CarterWill Search & Flex.

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