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Quick answer: If you read The Big Short, read Michael Lewis's Liar's Poker, Flash Boys and Moneyball, then Too Big to Fail, All the Devils Are Here and When Genius Failed. All explain money, risk and the oddballs who see what everyone else misses.
Michael Lewis's 2010 book follows the few traders and investors who realised the American housing market was a bubble and bet against it, long before the financial crisis. It is clear, funny and angry. The books below offer similar narratives about finance, greed and failure.
Table of Contents
Quick Picks at a Glance
| Book | Author | Ages | Best For |
|---|---|---|---|
| Liar's Poker | Michael Lewis | Adult | Lewis's Wall Street debut |
| Flash Boys | Michael Lewis | Adult | high-frequency trading |
| Moneyball | Michael Lewis | Adult | baseball and data |
| The Undoing Project | Michael Lewis | Adult | psychology of judgment |
| Boomerang | Michael Lewis | Adult | global debt crisis |
| Too Big to Fail | Andrew Ross Sorkin | Adult | inside the crisis |
| All the Devils Are Here | Bethany McLean and Joe Nocera | Adult | causes of the crash |
| When Genius Failed | Roger Lowenstein | Adult | a hedge fund collapses |
| Barbarians at the Gate | Bryan Burrough and John Helyar | Adult | corporate takeover |
| The Smartest Guys in the Room | Bethany McLean and Peter Elkind | Adult | Enron |
| Bad Blood | John Carreyrou | Adult | corporate fraud |
| House of Cards | William D. Cohan | Adult | Bear Stearns |
| Fool's Gold | Gillian Tett | Adult | the roots of the crisis |
| Lords of Finance | Liaquat Ahamed | Adult | central bankers |
| Den of Thieves | James B. Stewart | Adult | insider trading |
1. Liar's Poker by Michael Lewis
Lewis recalls his time as a bond salesman at Salomon Brothers. Funny and fast.
Best for: Lewis's Wall Street debut.
2. Flash Boys by Michael Lewis
A group of traders uncovers a rigged stock market. Sharp and dramatic.
Best for: high-frequency trading.
3. Moneyball by Michael Lewis
The Oakland A's use statistics to compete. A story of outsiders and numbers.
Best for: baseball and data.
4. The Undoing Project by Michael Lewis
The partnership of Daniel Kahneman and Amos Tversky. Warm and clever.
Best for: psychology of judgment.
5. Boomerang by Michael Lewis
Lewis travels to countries hit by the financial crisis. Funny and sharp.
Best for: global debt crisis.
6. Too Big to Fail by Andrew Ross Sorkin
Sorkin recounts the 2008 meltdown from inside Wall Street and Washington. Detailed and gripping.
Best for: inside the crisis.
7. All the Devils Are Here by Bethany McLean and Joe Nocera
The authors trace the long chain of mistakes that led to the crisis. Thorough and readable.
Best for: causes of the crash.
8. When Genius Failed by Roger Lowenstein
The rise and fall of Long-Term Capital Management. A classic of financial storytelling.
Best for: a hedge fund collapses.
9. Barbarians at the Gate by Bryan Burrough and John Helyar
The fight for RJR Nabisco in 1988. Fast and colourful.
Best for: corporate takeover.
10. The Smartest Guys in the Room by Bethany McLean and Peter Elkind
The rise and fall of Enron. Compelling and damning.
Best for: Enron.
11. Bad Blood by John Carreyrou
The rise and fall of Theranos. Fast and compelling.
Best for: corporate fraud.
12. House of Cards by William D. Cohan
The collapse of Bear Stearns. Detailed and dramatic.
Best for: Bear Stearns.
13. Fool's Gold by Gillian Tett
A journalist traces how credit derivatives were created. Clear and sharp.
Best for: the roots of the crisis.
14. Lords of Finance by Liaquat Ahamed
The story of the bankers who helped cause the Great Depression. Rich and humane.
Best for: central bankers.
15. Den of Thieves by James B. Stewart
The insider trading scandals of the 1980s. Fast and gripping.
Best for: insider trading.
How to Choose
For more Lewis begin with Liar's Poker or Flash Boys. For the full crisis pick Too Big to Fail or All the Devils Are Here. For corporate collapse choose When Genius Failed, The Smartest Guys in the Room or Bad Blood. For deals and takeovers read Barbarians at the Gate. For history try Lords of Finance. The Big Short is fast, so these picks suit readers who like finance told as a story. Michael Lewis's book became a 2015 film starring Christian Bale and Steve Carell, but the book explains the mortgage bond mechanics in more detail, with a friendlier voice. If you prefer story over finance detail, start with Liar's Poker or Moneyball. If you want the whole crisis, Too Big to Fail and All the Devils Are Here are the most complete. If you want corporate scandals, When Genius Failed and The Smartest Guys in the Room are gripping. Audiobooks suit finance writing well, since the stories are told in a flowing way.
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Frequently Asked Questions
What is The Big Short about?
A handful of investors who bet against the housing bubble before the 2008 crisis.
Who wrote it?
Michael Lewis.
When was it published?
2010.
Do I need finance knowledge?
No, Lewis explains the terms clearly.
Is the film accurate?
It follows the book's main events, though it simplifies some details.
Is it funny?
Yes, in a dark, sharp way.
Is it a long book?
About 270 pages.
What should I read next?
Try Liar's Poker or Flash Boys.
Did the investors in The Big Short become rich?
Several of them made large profits by betting against subprime mortgage bonds.
Is the book critical of the banks?
Yes, it portrays many banks and rating agencies as failing or misleading.