The Dhandho Investor by Monish Pabrai

This book can be dubbed the Gujrati way to make money in stocks. It's overarching message to investors is the mantra 'Heads I win, tails I don't lose much!' Monish Pabrai should be commended for his very detailed examples. It is rare to see any investor share his methodology so explicitly. He touches on themes repeated by value investing gurus on how to make money in the stock market - strategy,discipline and patience.

The only complaint I have against this book is the repetitions he makes every few pages. His awe of the Patels is obvious and one can't blame him for their strategy is low risk with high returns.

Fool's Gold: How the Bold Dream of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe by Gillian Tett

This book revolves around the story of how Credit Default Swaps (CDS) went from an obscure innovation to a phenomenon that became the leading instrument in managing risk. It looks at how banks were reckless in their use of derivatives and touches on the theme of un-regulated use of financial innovation in the hands of the greedy. For me reading this was experiencing the building of a house of cards and watching how it fell apart. At some point I felt my stomach feel the sensation I would liken to being on a roller coaster. I would recommend it to anyone who wanted an easy to follow guide on how the world of derivatives brought the financial world to its' knees.