Cryptoassets, Investing, and Risk Management
Since launching Unbounded Capital, I often get asked what my favorite resources are. Below are some of the most influential works I’ve read to date.
I don’t agree with all views expressed, but every book, newsletter, article, podcast, or blog here has been valuable to the way I approach investing.
This document will grow, as I do. There’s plenty of room for more resources on this list. Please send me or comment with your suggestions!
Books
Antifragile, Fooled by Randomness, The Black Swan, Skin In The Game — Nassim Taleb
The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto — Phil Champagne
A Man For All Markets, Beat The Market, The Kelly Capital Growth Investment Criterion: Theory and Practice — Ed Thrope
The Most Important Thing — Howard Marks
A Short History of Financial Euphoria — John Kenneth Galbraith
Diary of a Very Bad Year: Confessions of an Anonymous Hedge Fund Manager — Keith Gessen
Reminiscences of a Stock Operator — Edwin Lefèvre
When Genius Failed — Roger Lowenstein
Liar’s Poker, Flash Boys, The Big Short — Michael Lewis
Sapiens — Yuval Noah Harari
The Quants, Dark Pools — Scott Patterson
More Money Than God — Sebastian Mallaby
The Intelligent Investor — Benjamin Graham
The Acquirer's Multiple — Tobias E. Carlisle
Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger — Peter D. Kaufman
Thinking Fast and Slow — Daniel Kahneman
The Elephant in the Brain — Kevin Simler and Robin Hanson
Deep Work — Cal Newport
The 4 Hour Workweek — Tim Ferriss
Newsletters
Money Stuff — Matt Levine
Benedict Evans’ Newsletter — Benedict Evans
Memos From Howard Marks — Howard Marks
AVC Newsletter — Fred Wilson
Bridgewater Associates Newsletter — Ray Dalio
Two Truths and a Take — Alex Danco
Let Me Know How I Can Be Helpful
Articles
Investing
The Index Mindset — John Luttig
I’m Sorry, But Those Are Vanity Metrics — Lloyd Tabb
For Love of The Product — Ezra Galston
What is a Tech Company? — Ben Thompson
12 Things about Product-Market Fit — Andreessen-Horowitz
The Myth of The Infrastructure Phase — Union Square Ventures
Our Results Have Been Far Worse Than We Could Have Imagined — Greenlight Capital
From Hopes and Dreams to The Real Thing — Fred Wilson
Bitcoin
Bitcoin: A Peer-to-Peer Electronic Cash System — Satoshi Nakamoto
Mathematical Proof That the Lightning Network Cannot Be a Decentralized Bitcoin Scaling Solution — Jonald Fyookball
The Great Mining Swindle — Craig Steven Wright
UXTO Analysis — Delphi Digital
Tokenomics
Valuing Cryptoassets from the Ground Up — Mike Sall
An (Institutional) Investor’s Take on Cryptoassets — John Pfeffer
On Medium-of-Exchange Token Valuations — Vitalik Buterin
More on Token Velocity — Jackson Laskey
Analyzing Token Sale Models — Vitalik Buterin
Money
Gamifying the Delivery of Money — Daniel Jeffries
Two Malthusian Scares — Nick Szabo
On the Network Effects of Stores of Value — Multicoin Capital
Individual Cryptoassets
Inside the Crypto World’s Biggest Scandal (Tezos) — Gideon Lewis-Kraus
EOS Analysis and Valuation — Multicoin Capital
Bitcoin Satoshi’s Vision (BSV): Identifying Signal Through the Noise — Dave Mullen-Muhr
Critique of Buterin’s “A Proof of Stake Design Philosophy — Tuur Demeester
An Introduction to Private Cryptocurrencies: Monero and its Alternatives — Cypher Perro
Miscellaneous
The Truth about Smart Contracts — Jimmy Song
Notes on Blockchain Governance — Vitalik Buterin
Why another stablecoin? — Nevin Freeman
Blogs
Breaking VC — Ezra Galston
AVC — Fred Wilson
Stratechery — Ben Thompson
Kid Dynamite’s World
Podcasts
Invest Like The Best
Capital Allocators
Venture Stories
Macro Voices
The Contrarian Investor
The Portal
Bonus Books
All of these read like thriller novels (but are all nonfiction!), but enforce lessons learned from the previous resources
Red Notice — Bill Browder
Confidence Game — Christine S. Richard
When the Wolves Bite — Scott Wapner
Billion Dollar Fantasy — Albert Chen
The Spider Network — David Enrich
Who is Michael Ovitz — Michael Ovitz
Super Pumped — Mike Isaac
Den of Thieves — James B. Stewart
Fortune’s Formula — William Poundstone
The Mastermind — Evan Ratliff
Billion Dolllar Whale — Tom Wright & Bradley Hope