Mike O’Sullivan is Moonfare’s Chief Economist and Senior Advisor. You can meet Mike at many of our community events and investor calls or follow his monthly commentary published on Moonfare's blog. Also, don't miss Mike's latest interview to learn more about his views on a range of topics — from interest rate cuts to opportunities in artificial intelligence.

In a topsy-turvy world marked by high-drama political events such as the recent French election, the turmoil in American politics, and the promise of the new government in the UK, not to mention the spectacle of the Olympics, only one event really matters – the onset of the holiday season!

As ever, the Moonfare team has been highly responsive and wants to provide our friends with recommendations for interesting books on ‘serious matters’ (finance, economics and politics) and more rewardingly, inspiring fiction.

On politics

To start with perhaps the most topical subject, American politics, I have twice spoken at conferences with JD Vance and would recommend his book ‘Hillbilly Elegy’ as a text that will help us better understand him and America.

If I were to recommend two books to him – as he ambitiously thinks of the vice presidency, I would highlight Chris Whipple’s ‘The Gatekeepers’ which explains how seventeen chiefs of staff to American presidents have marshalled their leaders, as well as Robert Reich’s ‘Locked in the Cabinet’ which is a wonderful, humorous study of how power really works in Washington. 

Two other books on American politics have been recommended to me, and as I trust the judgement of the friends who have highlighted them, I want to pass on ‘When the Clock Broke’ by John Ganz, and ‘An American Dreamer’ by David Finkel.

Sticking with politics, there are a few ‘tomes’ worth noting for the really serious aficionados. Robert Caro’s books on Lyndon Johnson could take a long time to read, and Ron Chernow’s ‘Hamilton’, which I would class as a must-read. Crossing the Atlantic, in a more gossipy sense, I often recommend Chip Channon’s ‘Diaries’, and Alan Clark’s Diaries as a more tawdry follow-up. In a more modern setting, Rory Stewart’s ‘Politics on the Edge’ is decent.

On finance and money

In my experience, the world of finance has been badly neglected by writers – fiction and non-fiction, and it might be that very few people with a literary bent are tempted by finance, and of course, fewer bankers can write well. 

There are a few exceptions – William Cohan (I enjoyed his book on Lazard, ‘The Last Tycoons’), Michael Lewis (e.g., ‘Liar’s Poker’), and Amor Towles – who spent most of his career in investment management but emerged sane enough to produce the exquisite ‘Gentleman in Moscow’, ‘Rules of Civility’, and his latest book, ‘Table for Two’, which I have bought and squirrelled away for later in August.

Another writer in this rarefied group is Aifric Campbell, who worked in a very senior role in the City and has produced a number of books of which ‘The Love Makers’ is a must-read for anyone with an interest in understanding how AI-driven robots will interact with humans.

Some of the more interesting books on finance relate to dealmaking in corporate finance and private equity – ‘Barbarians at the Gate’ was perhaps the first blockbuster here, and my Moonfare colleagues have also flagged ‘King of Capital’ (David Carey and John Morris), which sketches the rise of Blackstone and the private equity industry.

With the war in Ukraine dangerously entrenched, I (and a number of colleagues) wanted to flag Bill Browder’s ‘Red Notice’. I recall having lunch with him just before the Magnitsky Act came into force, and the book is a super account of how Browder turned the murder of his colleague into a legal weapon that has helped hinder the Kremlin.

Another asset class that is captivating is art, and here Molly, who has exceedingly good taste, recommends Don Thompson’s ‘The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art’.

There is a useful set of books that link the economy to changes in society, and vice versa. Notable recent books here are ‘Finance and the Good Society’ by Robert Shiller, and ‘Ultra-Processed People’ by Chris van Tulleken.

On a duller but nonetheless valuable note, a few colleagues mentioned Morgan Housel’s work ‘The Psychology of Money’ as a very good primer on personal money management.

Biographies and fiction

Often we read books because they bring colour to the lives of remarkable people, and in our ‘biography’ section, Marine has two very original recommendations – books on famous people by famous authors, most notably ‘Mary Queen of Scots’ by Stefan Zweig and ‘Catherine de Medici’ by Honore de Balzac.

In addition, my wife tells me that François Mauriac recommends the biography of Leon Trotsky, which the Marxist society has helpfully put online here.

Finally, I am stashing a few books away for the holidays: Yoko Tawada’s ‘Memoirs of a Polar Bear’, ‘Le Barman du Ritz’ by Philippe Colin, and for old times' sake, a few Agatha Christie novels.

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