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If you're considering getting an MBA in finance, you should probably find out what you're getting yourself into once you graduate. This list will guide you through the books and movies that you MUST check out if you're considering going into finance. None of them are that long, and most are thoroughly enjoyable even if you don't have an interest in finance. By each title is an indication as to what part of finance it applies, in case you have specific interests. These are in no particular order. 11. Barbarians at the Gate - private equity   Have you ever wondered how a take-private deal happens? This movie gives you an inside look at one of the biggest buyouts of all time, the RJR deal. It does a great job of keeping the topic light-hearted and interesting, with accurately depicted colorful characters like RJR CEO, F. Ross Johnson (played by James Garner), and Henry Kravis (played by Jonathan Pryce) of the private equity firm KKR. 10. Liar's Poker - bond trading   Wall Street insiders will take it as given that you've read this book. This seminal work by Michael Lewis details his journey on the bond desk in the days when Wall Street was still an untamed beast. It includes entertaining vignettes about traders throwing phones and intricate details about the painful training and hazing that went on in the wild 80s. To truly understand the guys at the top of Wall Street today, you have to know the environment in which they were brought up. This book will do that for you. 9. When Genius Failed - hedge fund   Few people in the US or around the world knew it at the time, but a firm called Long Term Capital Management nearly brought the world economy to its knees. The WORLD economy. This firm, a hedge fund back when no one had heard of such a thing, was run by the smartest guys around. They figured out how to make billions, back when "millions" was still impressive. This book details how they, through bad luck, hubris, and enormous bets, went from raking in billions, to complete collapse in just days. All the big Wall Street banks had to bail them out, thanks to some quick thinking by the Federal Reserve. 8. Monkey Business - investment banking   This is the ultimate investment banking book. If you want to be an i-banker, you have to read it. It gives an accurate description of the recruiting process and follows the protagonists from day one in business school through their career as investment bankers. It's fun, funny, and required reading for any aspiring i-banker. 7. Boiler Room - equity sales   Boiler room will show you what it's like to work on a sales floor. The personalities are great, and fairly accurate. Note however, that most reputable sales floors are filled with top-tier MBAs and not kids who run casinos out of their homes like the protagonist does. Be that as it may, this is an incredibly entertaining movie and worth the hour and a half. This movie is also good for people who sell things other than equities because it shows some good sales techniques that can be applied to any pitch. 6. American Psycho - investment banking   Granted, investment banking is not the main focus of this movie, and it's not for the feint of heart, but it is a classic and some of the supporting characters are a good illustration of the types of people in i-banking. This movie is worth the watch just for the protagonists monologues on 80s music. Many people say the book is better than the movie, but the detailed narrative can be a bit dry to get through. Watch the movie first. If you like it and think you can handle the detailed descriptions in text format, give the book a try. 5. Ugly Americans - equity trading   Ben Mezrich has authored many great books about outstanding individuals but this one is his best about finance. He tells the story of a young man who stumbles into a job in Japan working for a hedge fund. There is a lot of action in this book and Mezrich does a good job of keeping up suspense with Yakuza and the equity markets. It's based on a true story, and is inspiring for any trader-hopeful. 4. Wall Street - equity sales   "Greed is good." This line, uttered by the now-famed Gordon Gekko character, sums up the Wall Street corporate raider mentality of the 1980. Not only is this superbly acted, but it also shows many dimensions of Wall Street. It can make you rich, powerful, and corrupt like Gekko, it can make you sell your soul like it did to the protagonist, Bud Fox, or it can give you a nice long career and dump you like you are nothing as it does one of Fox's fellow traders. 3. Confessions of a Venture Capitalist - private equity   There aren't that many good books on private equity, but this is one. Ruthann Quindlen gives her readers an inside look at her life as a VC at the epicenter of the dot-com boom in Silicon Valley. If you're thinking about trying to get a job in venture capital - which is a very difficult feat - read this book to find out how you'll be spending your days. 2. Rogue Trader - equity trading   This is the second big failure story on the list. This movie tells the story of how one trader in a remote office of the oldest, most venerable bank in England caused its bankruptcy through a series of big bets and big losses. Ewan McGregor gives a great performance as Nick Leeson (the author of the autobiographical book by the same name), the Barings Bank trader in Singapore who single handedly upends the bank. 1. Den of Thieves - bond trading   Remember the term "junk bond"? They're now called high-yield. The term "junk bond" lost its luster mostly because of the events in this story. Michael Milken and Ivan Boesky are figures of Wall Street lore because they make a killing in the junk bond racket - without even being on Wall Street. This story gives the details of how it happened, who was involved, and what went wrong that caused many people, Milken and Boesky included, to go to jail.
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11 best movies & books for finance MBAs
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