They marshal trillions of dollars on behalf of their institutions and influence how capital flows throughout the world.But these elite investors live outside of the public eye. Across the entire investment industry, few participants understand how these holders of the keys to the kingdom allocate their time and their capital.What's more, there is no formal training for how to do their work.So how do these influential leaders practice their craft? What skills do they require? What frameworks do they employ? How do they make investment decisions on everything from hiring managers to portfolio construction?For the first time, CAPITAL ALLOCATORS lifts the lid on this opaque corner of the investment landscape.Drawing on interviews from the first 150 episodes of the Capital Allocators podcast, Ted Seides presents the best of the knowledge, practical insights, and advice of the world's top professional investors.These insights include:- The best practices for interviewing, decision-making, negotiations, leadership, and management.- Investment frameworks across governance, strategy, process, technological innovation, and uncertainty.- The wisest and most impactful quotes from guests on the Capital Allocators podcast.Learn from the likes of the CIOs at the endowments of Princeton and Notre Dame, family offices of Michael Bloomberg and George Soros, pension funds from the State of Florida, CalSTRS, and Canadian CDPQ, sovereign wealth funds of New Zealand and Australia, and many more.CAPITAL ALLOCATORS is the essential new reference manual for current and aspiring CIOs, the money managers that work with them, and everyone allocating a pool of capital.

    Taylor discusses all the fundamental aspects of Austrian thought, from subjectivism and marginal utility to inflation and the business cycle. This new and revised edition is widely influential among economics students.For the newcomer, this work represents a concise introduction to both the historical setting of the Austrian School and to the ideas espoused by its members.This volume includes chapters on:Social Cooperation and Resource Allocation Economic Calculation The Subjective Theory of Value The Market and Market Prices Production in an Evenly Rotating Economy From an Evenly Rotating Economy to the Real World Inflation and the Business Trade Cycle96 pp. (pb)

    The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom. The result is the personally revealing and complete biography of the man known everywhere as “The Oracle of Omaha.”Although the media track him constantly, Buffett himself has never told his full life story. His reality is private, especially by celebrity standards. Indeed, while the homespun persona that the public sees is true as far as it goes, it goes only so far. Warren Buffett is an array of paradoxes. He set out to prove that nice guys can finish first. Over the years he treated his investors as partners, acted as their steward, and championed honesty as an investor, CEO, board member, essayist, and speaker. At the same time he became the world’s richest man, all from the modest Omaha headquarters of his company Berkshire Hathaway. None of this fits the term “simple.”When Alice Schroeder met Warren Buffett she was an insurance industry analyst and a gifted writer known for her keen perception and business acumen. Her writings on finance impressed him, and as she came to know him she realized that while much had been written on the subject of his investing style, no one had moved beyond that to explore his larger philosophy, which is bound up in a complex personality and the details of his life. Out of this came his decision to cooperate with her on the book about himself that he would never write.Never before has Buffett spent countless hours responding to a writer’s questions, talking, giving complete access to his wife, children, friends, and business associates—opening his files, recalling his childhood. It was an act of courage, as The Snowball makes immensely clear. Being human, his own life, like most lives, has been a mix of strengths and frailties. Yet notable though his wealth may be, Buffett’s legacy will not be his ranking on the scorecard of wealth; it will be his principles and ideas that have enriched people’s lives. This book tells you why Warren Buffett is the most fascinating American success story of our time.

    A native of the former Soviet Union, he lived as an exchange student in North Korea in the 1980s. He has studied it for his entire career, using his fluency in Korean and personal contacts to build a rich, nuanced understanding. In The Real North Korea, Lankov substitutes cold, clear analysis for the overheated rhetoric surrounding this opaque police state. After providing an accessible history of the nation, he turns his focus to what North Korea is, what its leadership thinks, and how its people cope with living in such an oppressive and poor place. He argues that North Korea is not irrational, and nothing shows this better than its continuing survival against all odds. A living political fossil, it clings to existence in the face of limited resources and a zombie economy, manipulating great powers despite its weakness. Its leaders are not ideological zealots or madmen, but perhaps the best practitioners of Machiavellian politics that can be found in the modern world. Even though they preside over a failed state, they have successfully used diplomacy-including nuclear threats-to extract support from other nations. But while the people in charge have been ruthless and successful in holding on to power, Lankov goes on to argue that this cannot continue forever, since the old system is slowly falling apart. In the long run, with or without reform, the regime is unsustainable. Lankov contends that reforms, if attempted, will trigger a dramatic implosion of the regime. They will not prolong its existence. Based on vast expertise, this book reveals how average North Koreans live, how their leaders rule, and how both survive.

    There is nothing remotely inevitable about Brexit – except that it will be deeply damaging if it happens. Extricating Britain from Europe will be the greatest challenge this country has faced since the Second World War. And as negotiations with the EU expose the promises of the Brexit campaign to have been hollow, even some Brexit-voters now wish to exercise their democratic right to change their mind, seeing that the most pragmatic option is to … stop. It would certainly be the best thing for Britain. But how can it be done? Haven’t the people spoken?No. In this indispensable handbook, Nick Clegg categorically debunks the various myths that have been used to force Brexit on Britain, not by ‘the people’ but by a small, extremely rich, self-serving elite, and explains precisely how this historic mistake can be reversed – and what you can do to make sure that it is.

    But by the year 1900, a new type of lawyer was born, one who understood business as well as the law. Working hand in glove with their clients, over the next two decades these New York City "white shoe" lawyers devised and implemented legal strategies that would drive the business world throughout the twentieth century. These lawyers were architects of the monopolistic new corporations so despised by many, and acted as guardians who helped the kings of industry fend off government overreaching. Yet they also quietly steered their robber baron clients away from a "public be damned" attitude toward more enlightened corporate behavior during a period of progressive, turbulent change in America.Author John Oller, himself a former Wall Street lawyer, gives us a richly-written glimpse of turn-of-the-century New York, from the grandeur of private mansions and elegant hotels and the city's early skyscrapers and transportation systems, to the depths of its deplorable tenement housing conditions. Some of the biggest names of the era are featured, including business titans J. P. Morgan and John D. Rockefeller, lawyer-statesmen Elihu Root and Charles Evans Hughes, and presidents Theodore Roosevelt, William Howard Taft, and Woodrow Wilson.Among the colorful, high-powered lawyers vividly portrayed, White Shoe focuses on three: Paul Cravath, who guided his client George Westinghouse in his war against Thomas Edison and launched a new model of law firm management--the "Cravath system"; Frank Stetson, the "attorney general" for financier J. P. Morgan who fiercely defended against government lawsuits to break up Morgan's business empires; and William Nelson Cromwell, the lawyer "who taught the robber barons how to rob," and was best known for his instrumental role in creating the Panama Canal.In White Shoe, the story of this small but influential band of Wall Street lawyers who created Big Business is fully told for the first time.

    With swashbuckling irreverence and devilish wit, Peter Leeson uncovers the hidden economics behind pirates’ notorious, entertaining, and sometimes downright shocking behavior. Why did pirates fly flags of Skull & Bones? Why did they create a “pirate code”? Were pirates really ferocious madmen? And what made them so successful? The Invisible Hook uses economics to examine these and other infamous aspects of piracy. Leeson argues that the pirate customs we know and love resulted from pirates responding rationally to prevailing economic conditions in the pursuit of profits.The Invisible Hook looks at legendary pirate captains like Blackbeard, Black Bart Roberts, and Calico Jack Rackam, and shows how pirates’ search for plunder led them to pioneer remarkable and forward-thinking practices. Pirates understood the advantages of constitutional democracy — a model they adopted more than fifty years before the United States did so. Pirates also initiated an early system of workers’ compensation, regulated drinking and smoking, and in some cases practiced racial tolerance and equality. Leeson contends that pirates exemplified the virtues of vice — their self-seeking interests generated socially desirable effects and their greedy criminality secured social order. Pirates proved that anarchy could be organized.Revealing the democratic and economic forces propelling history’s most colorful criminals, The Invisible Hook establishes pirates’ trailblazing relevance to the contemporary world.

    They consider themselves the new chosen—congressmen, generals, and foreign dictators who meet in confidential cells, to pray and plan for a "leadership led by God," to be won not by force but through "quiet diplomacy." Their base is a leafy estate overlooking the Potomac in Arlington, Virginia, and Jeff Sharlet is the only journalist to have reported from inside its walls.The Family is about the other half of American fundamentalist power—not its angry masses, but its sophisticated elites. Sharlet follows the story back to Abraham Vereide, an immigrant preacher who in 1935 organized a small group of businessmen sympathetic to European fascism, fusing the far right with his own polite but authoritarian faith. From that core, Vereide built an international network of fundamentalists who spoke the language of establishment power, a "family" that thrives to this day. In public, they host Prayer Breakfasts; in private, they preach a gospel of "biblical capitalism," military might, and American empire. Citing Hitler, Lenin, and Mao as leadership models, the Family's current leader, Doug Coe, declares, "We work with power where we can, build new power where we can't."Sharlet's discoveries dramatically challenge conventional wisdom about American fundamentalism, revealing its crucial role in the unraveling of the New Deal, the waging of the cold war, and the no-holds-barred economics of globalization. The question Sharlet believes we must ask is not "What do fundamentalists want?" but "What have they already done?"Part history, part investigative journalism, The Family is a compelling account of how fundamentalism came to be interwoven with American power, a story that stretches from the religious revivals that have shaken this nation from its beginning to fundamentalism's new frontiers. No other book about the right has exposed the Family or revealed its far-reaching impact on democracy, and no future reckoning of American fundamentalism will be able to ignore it.

     The next ten years will be a time of massive transition. The wars in the Islamic world will be subsiding, and terrorism will become something we learn to live with. China will be encountering its crisis. We will be moving from a time when financial crises dominate the world to a time when labor shortages will begin to dominate. The new century will be taking shape in the next decade. In The Next Decade, George Friedman offers readers a pro­vocative and endlessly fascinating prognosis for the immedi­ate future. Using Machiavelli’s The Prince as a model, Friedman focuses on the world’s leaders—particularly the American president—and with his trusted geopolitical insight analyzes the complex chess game they will all have to play. The book also asks how to be a good president in a decade of extraordinary challenge, and puts the world’s leaders under a microscope to explain how they will arrive at the decisions they will make—and the consequences these actions will have for us all.From the Hardcover edition.

    The third edition, Obama’s Last Stand, follows the reelection campaign of President Barack Obama as it struggles to find the winning formula in a political landscape that has changed dramatically since his history-making victory in 2008. Though battered and bruised after nearly four years in office, Barack Obama remains the most competitive player on the field in American politics today. In Obama’s Last Stand, POLITICO White House correspondent Glenn Thrush chronicles the efforts of the president and his team to secure a second term in the face of a determined opposition, unfavorable economic headwinds, and a series of missteps by his own team. This is a revealing portrait of the president at the most precarious moment in his political life, with insights and anecdotes drawn straight from the notebook of one of the most perceptive reporters in America. The trash-talking schoolyard athlete in Obama is very much in evidence, especially when he speaks caustically about his Republican rivals, including the man he thinks is trying to steal his legacy, Mitt Romney. Yet apart from Romney and the uncertain economy, Obama’s greatest obstacle on the road to reelection may be Obama 2008. He and his team of talented advisers must try to reconcile their nostalgia for that once-in-a-lifetime campaign with the realities of an election fundamentally altered by the advent of super PACs and the evaporation of Obama’s superstar popularity. That challenge has led a campaign operation that once prided itself on flawless execution of strategy to commit several of the most dangerous unforced errors of Obama’s political career. Yet the game is far from over. If Obama is sometimes his own worst enemy, he also has the talent and drive to reclaim this race. Spurred on by the realistic prospect of losing, and growing ever more impatient with the foibles of his campaign staff, Obama the competitor is gearing up for the most critical fourth quarter of his career. This is the story of the last stand that will either cement his legacy forever—or consign him to a roster of once-promising one-term presidents.

    So how did we go from the promise of those heady days to the autocratic police state of Putin’s new Russia? The Invention of Russia is a breathtakingly ambitious book that reaches back to the darkest days of the cold war to tell the story of the fight for the soul of a nation. With the deep insight only possible of a native son, Ostrovsky introduces us to the propagandists, oligarchs, and fixers who have set Russia’s course since the collapse of the Soviet Union, inventing a new and more ominous identity for a country where ideas are all too often wielded like a cudgel.  The Soviet Union yoked together dreamers and strongmen—those who believed in an egalitarian ideal and those who pushed for an even more powerful state. The new Russia is a cynical operation, where perpetual fear and war are fueled by a web of lies, as television presenters peddle the invasion of Ukraine and goad Putin to go nuclear. Twenty-five years after the Soviet flag came down over the Kremlin, Russia and America are again heading toward a confrontation—but this course was far from inevitable. With this riveting account of how we got here—of the many mistakes and false promises—Ostrovsky emerges as Russia’s most gifted chronicler.

    But Paulson had no idea that a year later, he would find himself at the very epicenter of the world's most cataclysmic financial crisis since the Great Depression. Major institutions including Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers, AIG, Merrill Lynch, and Citigroup, among others-all steeped in rich, longstanding tradition-literally teetered at the edge of collapse. Panic ensnared international markets. Worst of all, the credit crisis spread to all parts of the U.S. economy and grew more ominous with each passing day, destroying jobs across America and undermining the financial security millions of families had spent their lifetimes building. This was truly a once-in-a-lifetime economic nightmare. Events no one had thought possible were happening in quick succession, and people all over the globe were terrified that the continuing downward spiral would bring unprecedented chaos. All eyes turned to the United States Treasury Secretary to avert the disaster. This, then, is Hank Paulson's first-person account. From the man who was in the very middle of this perfect economic storm, ON THE BRINK is Paulson's fast-paced retelling of the key decisions that had to be made with lightning speed. Paulson puts the reader in the room for all the intense moments as he addressed urgent market conditions, weighed critical decisions, and debated policy and economic considerations with of all the notable players-including the CEOs of top Wall Street firms as well as Ben Bernanke, Timothy Geithner, Sheila Bair, Nancy Pelosi, Barney Frank, presidential candidates Barack Obama and John McCain, and then-President George W. Bush. More than an account about numbers and credit risks gone bad, ON THE BRINK is an extraordinary story about people and politics-all brought together during the world's impending financial Armageddon.

    Written in conjunction with Samuel Crowther, "My Life and Work" chronicles the rise and success of one of the greatest American entrepreneurs and businessmen. Henry Ford and the Ford Motor Company will forever be identified with early 20th century American industrialism. The innovations to business and direct impact on the American economy of Henry Ford and his company are immeasurable. His story is brilliantly chronicled in this classic American biography.

    It gives moral legitimacy to the state. It makes limited forms of dissent and incremental change possible. The liberal class posits itself as the conscience of the nation. It permits us, through its appeal to public virtues and the public good, to define ourselves as a good and noble people. Most importantly, on behalf of the power elite the liberal class serves as bulwarks against radical movements by offering a safety valve for popular frustrations and discontentment by discrediting those who talk of profound structural change. Once this class loses its social and political role then the delicate fabric of a democracy breaks down and the liberal class, along with the values it espouses, becomes an object of ridicule and hatred. The door that has been opened to proto-fascists has been opened by a bankrupt liberalism The Death of the Liberal Class examines the failure of the liberal class to confront the rise of the corporate state and the consequences of a liberalism that has become profoundly bankrupted. Hedges argues there are five pillars of the liberal establishment – the press, liberal religious institutions, labor unions, universities and the Democratic Party— and that each of these institutions, more concerned with status and privilege than justice and progress, sold out the constituents they represented. In doing so, the liberal class has become irrelevant to society at large and ultimately the corporate power elite they once served.