For most people, getting a $3.6 million bonus would be a day to celebrate and high five a bunch of people. For Sam Polk, it made him mad.

Why?

Because it wasn’t enough.

“I wanted more money for exactly the same reason an alcoholic needs another drink: I was addicted,” Polk wrote in a 2014

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Ah, summer. A time where many of us stuff a towel, sunscreen and a great book into our weekend bag. Next stop — the beach. So, what’s Wall Street reading? Are they turning the pages for pleasure, like the rest of us, or looking for guidance to navigate this crazy market?

I checked in with over 100 finance professionals and the overwhelming response was: to improve their trading game. Most of the people I spoke with felt that, in the current environment, where job stability is low and market fears are high; they need any edge they can get.

“I’ve been on edge since last August when stocks got taken to the woodshed,” a junior hedge fund trader said. “Where I work is like the ‘Hunger Games.’ I don’t need to read that crap on the beach. I need to step up my game.”

Here’s what’s on Wall Street’s summer reading list:

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Every year at this time, big money flows from New York City to the Hamptons. Wall Streeters trade in their bespoke suits for Orlebar Brown swim shorts and linen shirts and head to the land of high hedges, exclusive clubs, VIP parties and good, old-fashioned barbecues. It’s the summer sprint that starts at Memorial Day weekend and runs all the way to the finish line of Labor Day.

And this year got off to a blazing fast start.

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Traders on Wall Street are always looking for the next land mine. And, despite having eight monitors in front of them, they’re usually just focused on a few indicators that may dictate significant investment decisions.

In 2006, everyone was focused on housing. In 2008, all eyes were on credit which was a major reason for the move down, and in 2011, everyone in the equity markets was fixated on Europe.

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Wall Street used to be brazen about its spending. Traders would spend large amounts of money to attain or maintain a certain social status. It was like “Keeping up with the Paul Tudor Joneses.”

But there’s been a shift happening over the last decade. I did an informal poll of 50 Wall Street professionals and the collective response was that spending habits have changed.

“There’s a lot less peacocking going on these days,” said Rick, a hedge-fund trader. (Peacocking, as in strutting your stuff like a peacock.)

There are several reasons for the change: 1) The average Wall Street bonus fell 9 percent in 2015 to the lowest level in three years, according to an annual report by the New York State Comptroller, 2) Fear of job security, 3) Fear of a downshift in the economy and 4) “Street shame”—the idea that, in an economic downturn when people are suffering, it’s shameful to be openly extravagant.

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Phones in tiny real-estate offices on every Main Street in the Hamptons have started to ring. It’s that time of year again: When Wall Street starts vigorously making plans to travel east for the summer.

Last summer was good for Hamptons business owners: A fresh breeze of optimism blew through Wall Street as the economy started to improve and the summer selloff of oil put an exclamation point on all of the fun.
Real-estate agents are “cautiously optimistic” about this summer, even as some predictions suggest a lackluster market and lower bonuses may dim the shine of Hamptons home sales this year.

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