Anything by Jack Schwager is at minimum, worthy reading. His Market Wizard Books, he also wrote books on Fundamental Analysis and Technical Analysis, for those who are so inclined.
Harris' book on Trading and Exchanges is interesting read but to be 100% honest it is an academic and practical approach to the structure of capital markets, not a how to for trading. It tells you how the marekts are structured, the participants, the different roles they play, how the exchanges and markets work, the way orders are routed and processed, nice detail on Specialists and market makers roles and all the specifics of order flows and fills and chapters on arbitrageurs, and other select roles in the market. So to really understand these topics it is a great book. For the average retail most of the knowledge is not necessary but for the professional aspiring trader or current one who wants more detail, it is quite useful. My favoarite parts are where he puts tons of anecdotes and stories of exchanges and trades and famous traders which really let you see things in action.
I haven't read any other books yet. Tim's book is the only one I have read because I saw him on TV. But, I am now looking around to buy my 2nd book. Trading book that is. I have read my fair share other books for my classes.
Thank you for an honest reply. You may consider reading some of the above referenced books, it may put the Hedge fund book in perspective. IMHO, for a newbie trader, it is imperative that he gain a thorough understanding of the risks involved, discipline required, psychology, history and mechanics of the market. He should understand the concept of money and risk management, the importance of capital preservation. He should understand the difference between investing and trading, as well as the difference between fundamental and technical analysis. Most importantly of the discipline and risks. This can not be learned in one, two or five books, in reality it can not all be learned in books, but in actual practice. This is why it is imperative to study a selection of books which address these many topics and are less anecdotal in nature to prepare effectively. Taking risks is not the key to success in trading... Safe trading to all....