Top Wall Street stock pickers shared 20 books to put on your Christmas wishlist if you want to better understand bear markets.Bryan R. Smith/Getty Images
- The S&P 500 has slumped over 19% this year as investors fret about a potential recession.
- We asked experts for the essential reading that's helped them to better understand bear markets.
2022 has been a tough year to make money in the stock market.
Equities suffered a broad and deep sell-off this year, with investors panicking about a potential recession, rising interest rates, and Russia's invasion of Ukraine.
Growth stocks have led the downturn, with the Nasdaq down 32%. Some retail and even professional investors are experiencing their first prolonged bear market after two years of record-breaking outperformance from major indices and the extended bull run in the decade after the 2008 financial crisis.
Insider asked a number of veteran Wall Street strategists which books have helped them better understand bear markets, recessions, and stock market crashes.
They shared 20 top picks, ranging from Michael Lewis's "The Big Short," which tells an important story of the 2008 financial crisis, to "Reminiscences of a Stock Operator," a 1923 novel written by the journalist Edwin Lefèvre.