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Fund mangers reveal favourite holiday reads

If you're looking to swat up on investing or just want some light entertainment, here are some book suggestions recommended by fund managers.
August 13, 2014

If you're looking for some holiday reading material on investments, who better to ask for recommendations than top fund managers? Broker Hargreaves Lansdown asked five fund managers, including three who run IC Top 100 Funds, to share their favourite books on investing. Take your pick.

Angus Tulloch, manager of IC Top 100 Fund First State Asia Pacific Leaders (GB00B54S3722)

Pick: Boomerang by Michael Lewis

"If you are going on holiday, try an author who can explain the uglier facets of recent stock market history in a clear and compelling way. Michael Lewis, with his piercing insights into the impact of crowd psychology on markets, is by far the most effective proponent of this genre. My pick of his books would be Boomerang, which describes the author's various forays through countries worst affected by the 2008 financial crisis. It is full of tongue-in cheek, politically incorrect generalisations on national characteristics - but all the more fun as a result."

 

Nick Train, manager of Lindsell Train Global Equity (IE00B644PG05) and IC Top 100 Funds Finsbury Growth & Income Trust (FGT) and Lindsell Train Investment Trust (LTI)

Pick: One Up on Wall Street by Peter Lynch

"Written by one of my all-time investment heroes, Lynch explains how any smart private investor is in no way disadvantaged when it comes to picking stocks relative to the professionals. He argues that although you may not now be conscious of it, in fact you already know much more about what creates long term wealth in the stock markets than you imagine. What's more, never let yourself be cowed by incomprehensible institutional investment jargon."

 

William Littlewood, manager of the Artemis Strategic Assets fund (GB00B3VDD431)

Pick: Snowball by Alice Schroeder

"You can't go wrong with the classics, so Warren Buffett is the obvious starting point. Schroeder's book is more of an autobiography than a book about Buffett's investment approach, but as his life is about investing, anybody would learn something from it."

 

Lee Gardhouse, manager of the HL Multi-Manager Income & Growth fund (GB0032033127).

Pick: The Most Important Thing: Uncommon Sense for the Thoughtful Investor by Howard Marks

"Howard Marks may not be such a well known name in the UK, but the longevity and quality of his investment performance is unquestionable. This book passes on his years of wisdom that can be utilised by the retail investor in both reducing losses and backing your views with conviction when valuations are attractive."

 

Sebastian Lyon, manager of Troy Trojan fund (GB00B99KZR51) and IC Top 100 Fund Personal Assets Trust (PNL)

Pick: 'The Great Crash of 1929' by JK Galbraith

"This is a real page-turner and just shows how bubbles form and what happens when they collapse. It is a lesson in human behaviour. The mindless, rampant speculation that we experienced seventy years later during the dot com boom was familiar to those who had read this book."

See some other books fund managers like