Book Bits: Reviews Of New Books For The Investor's Shelf

● Entries & Exits: Visits to 16 Trading Rooms
Alexander Elder
Summary via publisher (Wiley)
Dr. Alexander Elder leads you into 16 trading rooms where you meet traders who open up their diaries and show you their trades. Some of them manage money, others trade for themselves; some trade for a living, others are on the semi-professional level. All are totally serious and honest in sharing their trades with those who would like to learn. You will meet American and international traders who trade stocks, futures, and options using a variety of methods. All are normally very private, but now, thanks to their relationships with Dr. Elder, you can see exactly how these traders decide to enter and exit trades. Each chapter illustrates an entry and an exit for two trades, with comments by Dr. Elder. With this book as your guide, you can get closer to mastering the key themes of trading—psychology, tactics, risk control, record keeping, and the decision-making process.

● Jackpot: How the Super-Rich Really Live—and How Their Wealth Harms Us All
Michael Mechanic
Review via The Daily Beast
Mechanic’s meticulously researched book is about way more than the rich and their obscene acquisitiveness. It’s an often frightening primer on how the Trumps, Kardashians, Bezos, and Sacklers of the world have their way in just about everything, whether it’s getting into the best colleges, obtaining the best health care or influencing legislation that can benefit them financially.
The attitude seems to be, says Mechanic, especially when it comes to political clout, “this is my money, and I want to keep as much of it as possible. They have political clout, and they use that clout, and they pay less taxes than the people at the bottom. It’s legal, but not really ethical, because you’re perpetuating an unfair system.”

● Man of the Futures: The Story of Leo Melamed and the Birth of Modern Finance
Leo Melamed
Summary via publisher (Harriman House)
As the founder of financial futures and initiator of Globex, the world’s first global electronic trading system, Leo Melamed revolutionized the finance industry. Man of the Futures, his definitive memoir, recounts Melamed’s journey from Holocaust survivor and accidental runner at the Chicago Mercantile Exchange (CME), to one of the most prominent leaders in the world of finance. Man of the Futures offers exclusive access to the rationale behind some of the biggest financial decisions and dealings in the late 20th and early 21st century.

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Disclosures: None.

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