I recently re-read Roger Lowenstein's biography, Buffett: The Making of an American Capitalist (first published in 1995 and now re-issued with a new Afterword), and then read this more recent one by Alice Schroeder. Both are first-rate. Which to select if reading only one? That depends on how much you wish to know about Buffett's personal life, including his relations with various family members, and how curious you are about his personal hang-ups, peculiarities, eccentricities, fetishes, etc. If you can do without any of that, Roger Lowenstein's biography is the one to read. I also highly recommend the recently published Second Edition of The Essays of Warren Buffet: Lessons for Corporate America, with content selected, arranged, and ... Read More:
>>More Details
This book is a general interest book- and it certainly is interesting. The book, for anyone looking for an entertaining read, will like it. In a nutshell, the book takes a look at all sorts of things in society, from crack gangs to parenting, and then attempts to make sense of them by applying econonmic principles. According to the book, economics is really the study of incentives, and so using this kind of angle, the book comes up with answers to why things work the way they do.
A book that's hard to put down, I'm sure many readers will enjoy it. Also recommend The Sixty-Second Motivator for a more simplistic explanation of what motivates people and gives them incentives to do what they do.
>>More Details
John Kenneth Galbraith's classic study of the 1929 Wall Street crash is an exhilarating read. Galbraith combines a fluent, witty style with a detailed breakdown of the build up to disaster,
It is interesting to note how most of the experts - journalists, academics, businessmen, bankers and politicians didn't have a clue what was going to happen and thought that the good times would carry on rolling.
Readable, passionate, but... if true, the latest financial crash would have seen another swift extension of market power. But does govt control or ownership of the banks, talk of aggressive new regulation or the 'end of capitalism' sound like capitalism making hay? Are we really seeing a retreat from govt or state activity in the face of recession?
On the contrary, this latest shock is widely described as a disaster for capitalism. The doctrine fails its first test. The former chairman of the Federal reserve - Alan Greenspan - talks about this shock as though it has fundamentally undermined the theoretical constructs of capitalism by showing the weakness of self interest. When the priests are becoming apostates, how can the shock be said to further ... Read More:
>>More Details
When Markets Collide: Investment Strategies for the Age of Global Economic Change
Mohamed El Erian has spent many years involved in the emerging markets and this book gives a very valuable insight into the impact that these markets are having on the financial landscape and how to capitalize on it.
In future the emerging markets will be much more important drivers of the world economy than the US, UK, Europe or Japan.
The book talks about the crisis caused by the undervaluation of risk combined with the under-assessment of the quantity of risk outstanding and the consequential fundamental changes taking place. The sheer complexity of the structure of financial products and the inability of the regulatory system to keep on top of these developments ... Read More:
>>More Details
In my work over the last few years, struggling with the issues of development and poverty reduction, and I read a lot of books on the issues. Recently, I read one of the best books in the form of Paul Collier's The Bottom Billion.
Just as Mr. Collier says at the end of his book, discussions on poverty and development have over the last few years been dominated by two extremes: On the one extreme Mr. Jeffrey Sachs call for more aid to "end poverty", and on the other side, William Easterly's negativity that nothing really works (in the books The End of Poverty and The White Man's Burden, respectively).
Mr. Collier strikes a marvelous and necessary balance between these two. On one side, he says about Mr. Sachs:
"At present the clarion call for the left is Jeffrey ... Read More:
>>More Details
In my work over the last few years, struggling with the issues of development and poverty reduction, and I read a lot of books on the issues. Recently, I read one of the best books in the form of Paul Collier's The Bottom Billion.
Just as Mr. Collier says at the end of his book, discussions on poverty and development have over the last few years been dominated by two extremes: On the one extreme Mr. Jeffrey Sachs call for more aid to "end poverty", and on the other side, William Easterly's negativity that nothing really works (in the books The End of Poverty and The White Man's Burden, respectively).
Mr. Collier strikes a marvelous and necessary balance between these two. On one side, he says about Mr. Sachs:
"At present the clarion call for the left is Jeffrey ... Read More:
>>More Details
The book offers a better perception of randomness and its effect on our lives mostly using stock market examples. Easy to read for the non-expert in probability or statistics it offers a stochastic view on the world which we perceive to be much more deterministic than it is (mostly by confusing the effect with the results).
Although an engineer myself and not totally unaware of statistics or probability, I considered the representation of philosophical ideas through the prism of the book to be enjoyable and worth mentioning. I also found the supporting bibliographic references to be impressive for a book of this subject.
I can see why some of the people gave an unfavorable review to the book mostly with regard of his writing style (although it didn't bother me) but claims backed ... Read More:
>>More Details
The language may be a bit dated but the advice is still good, proving there is little new in the world of investing. If you follow Graham's practical advice on valuing companies, assessing risk and investing for the long term you will make money.
>>More Details