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(As his predecessor John Pierpont Morgan had said about a banker’s reputation at the Pujo hearings in front of the House Banking and Currency Committee in 1912, “[It] is his most valuable possession; it is the result of years of faith and honorable dealing and, while it may be quickly lost, once lost cannot be restored for a long time, if ever.”)

Duff McDonald • Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase

The Calculated Contrarian: Extreme Security, Extreme Risk, Extraordinary Returns

Chris Hutchins kevinrose.com

Blowing Up: How Nassim Taleb turned the inevitability of disaster into an investment strategy.

An exploration of the role of luck and uncertainty in the financial marketplace, and how it challenges the notion of skill in investing.

cpb-us-e2.wpmucdn.com

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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon

Lehman Brothers

Martin Gurri • Revolt of the Public and the Crisis of Authority in the New Millennium

Best Quotes from Each Chapter of “The Most Important Thing” by Howard Marks

medium.com

An Economist Walks Into a Brothel

Allison Schrager

amazon.com

Cover of An Economist Walks Into a Brothel

The best investors do nottarget return; they focus first on risk, and only then decide whether the projected return justifiestaking each particular risk.

Seth Klarman • Seth A. Klarman remarks at MIT

These kinds of catastrophic events arise from what hedge fund manager Ray Dalio calls the ‘risk of ruin’. It’s okay to lose now and then. In fact, it’s inevitable. But it’s not okay to lose so badly that you can’t come back. Whatever risks you take in life, you can never, ever expose yourself to the chance of falling into a Bottomless Pit of Doom.