The UniSuper Investment Team are a diverse bunch who read extensively and listen to a range of podcasts. This year, to kick off summer we’ve compiled a list of our favourites. We hope our recommendations will enlighten and inspire. They cover a broad spectrum from financial markets, history, healthcare and communication to learning from the greats. Happy reading and enjoy listening.
Penny Heard, Head of Australian Equities
Book: The Man Who Solved the Market
Author: Gregory Zuckerman
In The Man Who Solved the Market, Gregory Zuckerman explores the life of Jim Simons, the brilliant mind behind hedge fund Renaissance Technologies. What I loved about this book was getting into the head of Simons, a mathematical maverick, who was expelled from the US’ Soviet code-cracking team for opposing the Vietnam War but went on to create one of the most relentless moneymaking machines in history.
Simons may not be the household name of Buffett or Soros, but since 1988 Renaissance has generated over US$100 billion in trading profits by uncovering market patterns through mathematical models and algorithms in trading. While systematic strategies may be more commonplace these days, experts were bewildered by his methods, which have remained shrouded in mystery, making Simons and his team some of the richest people in the world. Renaissance also symbolises an era where technology helps money and power concentrate in the hands of a few. What was fascinating for me were the examples of influence by Simons on the Democratic party and his former colleague Robert Mercer, on Trump’s (first) election and Brexit. Whether you're a seasoned investor or just starting out, this book will broaden your understanding of the financial world and inspire you to think differently about investing.
David Welsh, Investment Analyst (Global Equities)
Book: Blind Spots
Author: Dr. Marty Makary
Today, more Americans experience peanut allergies than ever in history. The root cause: the American Academy of Paediatrics recommending parents avoid giving peanut products to their children until they turned three. This advice turned out to be fundamentally flawed, inadvertently leading to a huge increase in peanut allergies driven by a lack of early exposure.
A true page turner, Blind Spots by Dr. Marty Makary delves into the healthcare system, highlighting how common misconceptions have led to incorrect treatment for peanut allergies, hormone replacement therapy, antibiotics and many more. Blind Spots might be the most interesting book you’ll read this year.
Tessa Calligeros, Investment Analyst (Fixed Interest and Macro Research)
Podcast: Founders
Host: David Senra
Hosted by David Senra, Founders Podcast offers in depth insights into the biographies and autobiographies of notable founders. I find it an easy listen and have gained many valuable lessons. Of the 350+ episodes, one of my standouts is Episode #286 on Warren Buffett and Charlie Munger. Lessons learnt:
- Schedule time to think
- Focus - avoid multitasking
- Learn lessons from others
- Mistakes are a fact of life. Living life totally free of mistakes is a life of inaction
- Preparation is key to make quick decisions
- Study effective individuals (listen to Founders!)
Link to episode: https://open.spotify.com/episode/3j0nU1hztrJ1lQ8pKElGZy
Andrew Ewington, Investment Analyst (Portfolio Analysis and Implementation)
Book: Nuclear Folly: A New History of the Cuban Missile Crisis
Author: Serhii Plokhy
Nuclear Folly: A New History of the Cuban Missile Crisis by Serhii Plokhy offers a deep dive into the flawed decision-making processes that nearly led to nuclear war. Serhii explores critical missteps, misjudgements, and poor communication between Kennedy, Khrushchev, and Castro. The book underscores important lessons in decision analysis, including its cascading effects, the dangers of acting on incomplete intelligence, the risks of assuming the other side’s intentions, and the value of back-channel diplomacy. For those interested in how leadership shapes global outcomes, it provides crucial insights into the weight of responsibility leaders bear and the far-reaching consequences of their choices in high-stakes situations.
Rob Stewart, Investment Manager (Global Equities)
Book: Boomerang
Author: Michael Lewis
Michael Lewis is the author behind the books turned movies The Big Short, Moneyball and The Blind Side. These books were all great reads but the one I recommend most is Boomerang. It offers a witty and incisive exploration of the 2008 global financial crisis, focusing on its aftermath in various countries. Lewis travels to Iceland, Greece, Ireland, Germany, and California, examining how cultural attitudes towards money and debt contributed to economic instability. He uncovers absurd and often hilarious stories of financial mismanagement, from Icelandic fishermen-turned-bankers to Greek monks engaged in high-stakes real estate deals. Lewis's trademark humour and accessible explanations of complex financial concepts make the book both entertaining and informative. While it may not provide deep economic analysis, Boomerang excels at illustrating how national character flaws and delusions can lead to disastrous financial consequences, offering valuable insights into human nature and economic behaviour.
Lou Capparelli, Head of ESG
Podcast: The rest is history
Hosts: Tom Holland and Dominic Sandbrook
The Rest is History podcast is an excellent and entertaining way of finding out more about the most significant events spanning modern and ancient history. History buffs will enjoy the detail but even those with only a casual appreciation of historical events will love the way the podcasters bring those events to life and the comparisons they make to contemporary events. Topics covered span modern history (Kennedy assassination(s), British elections, the origins of World Wars 1 and 2) and ancient history (Roman Empire, the Aztecs, Greek mythology) and much more. The podcasters are renowned English historians who take a light hearted but still scholarly approach that makes each episode accessible to those with little or no prior knowledge. My personal favourites are the series on the JFK assassination, the causes of World War 1 and the rise of Nazism.
Annika Bradley, Investment Specialist (Portfolio Analysis and Implementation)
Book: Smart Brevity: The Power of Saying More With Less*
Authors: Jim VandeHei; Mike Allen and Roy Schwartz
Say less to be heard today.
Smart Brevity is the essential communication companion of the future. And I loved it.
Why it matters: The world is awash with content: emails, tweets, messages, audio and video. Smart Brevity helps you cut through with crisp communication tips. This (on-brand) brief, yet punchy book provides a practical guide to communicate more effectively.
Go deeper:
- “Roughly one-third of work emails that require attention go unread. Most words of most news stories are not seen” according to the book.
- Smart Brevity lays out a simple, yet effective method to structure your content to be heard in today’s over-saturated content environment.
Bottom line: commit to a few hours over the summer to learn how to say less and actually be heard.
*The format of this book review has adopted the SmartBrevity style.
We’d love to hear what’s on your summer reading and podcast list.