A classy set of book recommendations for Christmas reading

There are few things more satisfying than a good book. We asked a selection of fund managers to recommend books that they have recently enjoyed, specifically encouraging the inclusion of non-investment titles. Thank you to all who participated.

Adrian Saville: Chief Investment Officer, Cannon Asset Management

The Power of Gold: The History of An Obsession by the late Peter L. Bernstein (2000).  I first read this book in the early 2000s, but the recent, growing obsession with gold inspires me to revisit the book.  I remember this as a fascinating account of gold's splendour and the mythology behind the metal.  In Bernstein's fashion, the book is brilliantly researched and a superbly written account of investors' three thousand year old fascination with gold. 

Queen of Scots: The True Life of Mary Stuart by John Guy (2004).  I have always been intrigued by the story of Mary Queen of Scotts.  She was queen of Scotland before she was a year old; a bride before she was 16; Queen of France and a widow by 18; later, betrayed to the English and imprisoned for 18 years; and executed on the orders of her "sister" queen, Elizabeth I, at age 44.  This is late night, red wine reading - the stuff of December breaks.

Speeches that Shaped the World by Alan J. Whiticker (2005).  Arguably this book is a little dry for December reading, but this has been on my shelf for an age and demands reading.  From history we know that it is the past that shapes the present and guides the future.  Given the turbid, and rapidly changing, global environment, I think that reading a collection of some of the most potent and memorable speeches of the past 100 years will offer useful equipment for understanding how we got here and figuring out where we might be headed.  After all, more than anything, it is the power of persuasion that commits people to action. 

Gail Daniel, Investec Asset Management

The French edition of the Asterix and Obelix series - to entertain the children and improve our French - "Asterix is cleverer than any fund manger"

This Time is Different - Eight Centuries of Financial Folly by Carmen M Reinhart & Kenneth S. Rogoff

The Millennium Trilogy starting with The Girl with the Dragon Tattoo followed by The Girl Who Played with Fire by Stieg Larsson

Peter Koekemoer, Head of Personal Investments, Coronation Asset Management.

Think Twice: Harnessing the Power of Counter-intuition by Michael Mauboussin. He is an investment strategist at US fund manager Legg Mason. This, his second book, aims to provide techniques for improving the quality of decision-making.

Liaquat Ahamed's Lords of Finance, the winner of this year's FT Goldman Sachs Book Award, for better historical perspective on market behaviour in tough times. 

 The Effective Investor by Franco Busetti, one of very few well- researched and unbiased local investment books.

Gavin Wood, Chief Investment Officer, Kagiso Asset Management

Bad Science by Ben Goldacre.  This was a birthday present from some good friends who knew it would appeal to me.  It is written by a scientist who apparently uses reason and logic and basic science to expose as false many popular scientific claims.  Especially under attack are claims used as reasons for the public to buy products.  It combines humour and robust thinking in an entertaining package.  I am looking forward to the book as I, by nature, always look for the commercial intentions of popular claims and am continuously amazed at the ease with which the public believes things without thinking about them.

False Economy - A Surprising Economic History of the World by Alan Beattie.  I really enjoy trying to understand the world's economy as part of my job and I enjoy thinking about history in economic terms.  I believe that the perspective gained from learning the lessons of history is of huge assistance in the present. 

This book contrasts positive and negative historic outcomes in search of economic lessons.  I look forward to learning about, and reflecting on, economic choices made and their outcomes.  This book apparently explores the cultural, geographic and random reasons for these choices, as well as the incentives that guided them. 

Robert Walton, Managing Director, Metropolitan Collective Investments

By Any Means by Charley Boorman. A travel adventure across three continents from Ireland to Sydney, travelling by anything except for commercial transport (read his and Ewan McGregor's previous bike travelling book and watched the series on Discovery). A relaxing and funny adventure story.

 19 with a Bullet by Granger Korff.  A true story about a SA Paratrooper in Angola in 1980/81. The author presents a new perspective on crazy things the ordinary man in the street had to do just to satisfy the crazy ideologies of the people in power - bottom-line power often corrupts and the innocents have to pay for it and fight the dirty wars.

Kevin Lings, Chief Economist, Stanlib

Errornomics by Joseph Hallinan. The book is essentially about why we make mistakes and what we can do to avoid them. The book is very easy reading and deals for many aspects of human nature that impact us on a daily basis.

The Bottom Billion by Paul Collier. The book is about why the poorest countries are failing and what can be done about it. Poor countries become trapped for one of four main reasons. These reasons are explored and discussed.  

Piet Viljoen, Chief Investment Officer, Regarding Capital Management

The two books I have read recently that made the biggest impression on me are:

Think Twice, by Michael Mauboussin - a great antidote to the populism of Malcolm Gladwells' Blink. It's almost like Dave Mathews Band vs. Lady Ga-Ga

Enough, by John Bogle.  A moral compass for participants in the corporate environment  including analysts, investors and executives.

And it is worth re-reading The Intelligent Investor by Benjamin Graham at least once a year!

Lance Vogel, Chief Investment Officer, Analytics

I have just finished reading Moeletsi Mbeki's book called Architects of Poverty for the third time. I recommend this for any fund manager who wants to know how our politicians behave and why they do so!

I will start a new book soon called Physics of the Impossible by Dr Michio Kaku. I would like to know how to achieve the impossible!

Anthony Sedgwick, Polaris Asset Management

My favourite book is the Deneys Reitz trilogy - with Commando as the best known of the three. It's an incredible story, simply related and to me always brings home how tough life really could be in comparison to the cushy existences most people lead today and then complain about. 

I think it should be compulsory reading for every school boy in the country, followed by a year of national service doing something constructive in the interests of their community.