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Fred Schwed's Where are the Customers' Yachts? A modern-day interpretation of an investment classic (Infinite Success) by Leo Gough
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Money and Power: How Goldman Sachs Came to Rule the World
William D. Cohan - 2011
The firm--buttressed by the most aggressive and sophisticated p.r. machine in the financial industry--often boasts of "The Goldman Way," a business model predicated on hiring the most talented people, indoctrinating them in a corporate culture where partners stifle their egos for the greater good, and honoring the "14 Principles," the first of which is "Our clients' interests always come first." But there is another way of viewing Goldman--a secretive money-making machine that has straddled the line between conflict-of-interest and legitimate deal-making for decades; a firm that has exerted undue influence over government since the early part of the 20th century; a company composed of "cyborgs" who are kept in line by an internal "reputational risk department" staffed by former CIA operatives and private investigators; a workplace rife with brutal power struggles; a Wall Street titan whose clever bet against the mortgage market in 2007--a bet not revealed to its clients--may have made the financial ruin of the Great Recession worse. As William D. Cohan shows in his riveting chronicle of Goldman's rise to the summit of world capitalism, the firm has shown a remarkable ability to weather financial crises, congressional, federal and SEC investigations, and numerous lawsuits, all with its reputation and its enormous profits intact. By reading thousands of pages of government documents, court cases, SEC filings, Freedom of Information Act papers and other sources, and conducting over 100 interviews, including interviews with clients, competitors, regulators, current and former Goldman employees (including the six living men who have run Goldman), Cohan has constructed a vivid narrative that looks behind the veil of secrecy to reveal how Goldman has become so profitable, and so powerful. Part of the answer is the firm's assiduous cultivation of people in power--dating back to 1913, when Henry Goldman advised the government on how the new Federal Reserve, designed to oversee Wall Street, should be constituted. Sidney Weinberg, who ran the firm for four decades, advised presidents from Roosevelt to Kennedy and was nicknamed "The Politician" for his behind-the-scenes friendships with government officials. Goldman executives ran fundraising efforts for Nixon, Reagan, Clinton and George W. Bush. The firm showered lucrative consulting or speaking fees on figures like Henry Kissinger and Lawrence Summers. Famously, and fatefully, two Goldman leaders-- Robert Rubin and Henry Paulson--became Secretaries of the Treasury, where their actions both before and during the financial crisis of 2008 became the stuff of controversy and conspiracy theories. Another major strand in the firm's DNA is its eagerness to deal on both sides of a transaction, eliding questions of conflict of interest by the mere assertion of their innate honesty and nobility, a refrain repeated many times in its history, most notoriously by current Goldman CEO Lloyd Blankfein's jesting assertion that he was doing "God's work." As Michiko Kakutani's New York Times review of HOUSE OF CARDS said, "Cohan writes with an insider's knowledge of the workings of Wall Street, a reporter's investigative instincts and a natural storyteller's narrative command." In MONEY & POWER, Cohan has marshaled all these gifts in a powerful and definitive account of an institution whose public claims of virtue look very much like ruthlessness when exposed to the light of day.
Deep Value Investing: Finding bargain shares with big potential
Jeroen Bos - 2013
Written by an investor with a long and remarkable track record, it shares for the first time the ins and outs of finding high-potential undervalued stocks before anyone else.Deep value investing means finding companies that are genuine bargains that can pay back phenomenally over the long term. They are firms so cheap that even if they were to close tomorrow their assets would pay you out at a profit. But if they can turn things around, the rewards will be many times greater ...These were the favourite shares of Benjamin Graham, author of 'The Intelligent Investor'. Inspired by Graham's classic and with a long history of discovering these great value stocks - sometimes known as 'bargain issues' or 'netnets' - author and investor Jeroen Bos reveals:- how to use only publicly available information to discover these shares and filter the gold from the dross- everything he did when analysing, purchasing, monitoring and selling more than ten recent successful deep value investments- the complete philosophy behind deep value investing, and the ins and outs of this strategy in practice- what can go wrong and how to minimise the chances of it happening to you.Deep value investing has a better track record than almost any other approach to the market. Even better, it doesn't require minute and technical knowledge of a company, nor is it fixated on earnings or often-unreliable future projections.It's all about the balance sheet and patience. This makes it the perfect investing approach for those who want to see phenomenal stock market returns without wasting time or commission costs.
Secrets of Six-Figure Women
Barbara Stanny (now Huson) - 2002
Motivational speaker and financial journalist Barbara Stanny decided to find out why by identifying the differences between those who draw the big bucks and those who don't. In Secrets of Six-Figure Women she reveals what makes the leading edge tick, as well as how others can use the information to boost their own paychecks and self-esteem. "For far too many women, financial limits have become a fact of life. The thought of making more is like climbing Mount Everest, a colossal, if not impossible task," writes Stanny. "That's exactly how I used to feel." By examining scores of top moneymakers, along with dozens of those earning below their potentials, Stanny discovered what works and what doesn't. After analyzing the subsequent lessons (i.e., you actually can boost your income without selling out, the requisite traits to do so can be developed by virtually anyone, money really can't buy happiness), she proposes specific strategies for maximizing their impact (intend from the start to succeed, stretch yourself, manage any payoff with care). Stanny professes throughout that she desires to offer "insight, hope and guidance to any of you who aspire to earn more." With this surprisingly practical and ultimately inspirational guidebook, she delivers. --Howard Rothman
The Little Book That Beats the Market
Joel Greenblatt - 1999
Two hours with The Little Book That Beats the Market will. In The Little Book, Joel Greenblatt, Founder and Managing Partner at Gotham Capital (with average annualized returns of 40% for over 20 years), does more than simply set out the basic principles for successful stock market investing. He provides a "magic formula" that is easy to use and makes buying good companies at bargain prices automatic. Though the formula has been extensively tested and is a breakthrough in the academic and professional world, Greenblatt explains it using 6th grade math, plain language and humor. You'll learn how to use this low risk method to beat the market and professional managers by a wide margin. You'll also learn how to view the stock market, why success eludes almost all individual and professional investors, and why the formula will continue to work even after everyone "knows" it.
The Rise and Fall of Nations: Forces of Change in the Post-Crisis World
Ruchir Sharma - 2016
Narrowing the thousands of factors that can shape a country’s fortunes to ten clear rules, Sharma explains how to spot political, economic, and social changes in real time. He shows how to read political headlines, black markets, the price of onions, and billionaire rankings as signals of booms, busts, and protests. Set in a post-crisis age that has turned the world upside down, replacing fast growth with slow growth and political calm with revolt, Sharma’s pioneering book is an entertaining field guide to understanding change in this era or any era.A Library Journal Best Book of 2016
Capitalism in America: A History
Alan Greenspan - 2018
To the extent possible, he has made a science of understanding how the US economy works almost as a living organism--how it grows and changes, surges and stalls. He has made a particular study of the question of productivity growth, at the heart of which is the riddle of innovation. Where does innovation come from, and how does it spread through a society? And why do some eras see the fruits of innovation spread more democratically, and others, including our own, see the opposite?In Capitalism in America, Greenspan distills a lifetime of grappling with these questions into a thrilling and profound master reckoning with the decisive drivers of the US economy over the course of its history. In partnership with the celebrated Economist journalist and historian Adrian Wooldridge, he unfolds a tale involving vast landscapes, titanic figures, triumphant breakthroughs, enlightenment ideals as well as terrible moral failings. Every crucial debate is here--from the role of slavery in the antebellum Southern economy to the real impact of FDR's New Deal to America's violent mood swings in its openness to global trade and its impact. But to read Capitalism in America is above all to be stirred deeply by the extraordinary productive energies unleashed by millions of ordinary Americans that have driven this country to unprecedented heights of power and prosperity. At heart, the authors argue, America's genius has been its unique tolerance for the effects of creative destruction, the ceaseless churn of the old giving way to the new, driven by new people and new ideas. Often messy and painful, creative destruction has also lifted almost all Americans to standards of living unimaginable to even the wealthiest citizens of the world a few generations past. A sense of justice and human decency demands that those who bear the brunt of the pain of change be protected, but America has always accepted more pain for more gain, and its vaunted rise cannot otherwise be understood, or its challenges faced, without recognizing this legacy. For now, in our time, productivity growth has stalled again, stirring up the populist furies. There's no better moment to apply the lessons of history to the most pressing question we face, that of whether the United States will preserve its preeminence, or see its leadership pass to other, inevitably less democratic powers.
Unshakeable: Your Financial Freedom Playbook
Anthony Robbins - 2017
There have been 30 such corrections in the past 30 years, yet there's never been an action plan for how not only to survive, but thrive through each change in the stock market. Building upon the principles in Money: Master the Game, Robbins offers the reader specific steps they can implement to protect their investments while maximizing their wealth. It's a detailed guide designed for investors, articulated in the common-sense, practical manner that the millions of loyal Robbins fans and students have come to expect and rely upon. Few have navigated the turbulence of the stock market as adeptly and successfully as Tony Robbins. His proven, consistent success over decades makes him singularly qualified to help investors (both seasoned and first-timers alike) preserve and add to their investments.
The Art and Science of Technical Analysis: Market Structure, Price Action, and Trading Strategies
Adam H. Grimes - 2012
The book explores why randomness prevails in markets most, but not all, of the time and how technical analysis can be used to capture statistically validated patterns in certain types of market conditions. The belief of the book is that buying and selling pressure causes patterns in prices, but that these technical patterns are only effective in the presence of true buying/selling imbalance.The Art and Science of Technical Analysis is supported by extensive statistical analysis of the markets, which will debunk some tools and patterns such as Fibonacci analysis, and endorse other tools and trade setups. In addition, this reliable resource discusses trader psychology and trader learning curves based on the author's extensive experience as a trader and trainer of traders.Offers serious traders a way to think about market problems, understand their own performance, and help find a more productive path forward Includes extensive research to validate specific money-making patterns and strategies Written by an experienced market practitioner who has trained and worked with many top traders Filled with in-depth insights and practical advice, The Art and Science of Technical Analysis will give you a realistic sense of how markets behave, when and how technical analysis works, and what it really takes to trade successfully.
Principles of Economics
Carl Menger - 1871
Principles not only revolutionized value, price, and marginal utility theories, but it was also used as the primary textbook by several generations of Austrian students and scholars, including Ludwig von Mises and F. A. von Hayek. No economist's library is complete without a copy of this classic work. New printing in 1994!
Good To Great by Jim Collins| Quickie Book Summary
Dan Brickman - 2012
and Others Don't is a 2001 management book by James C. Collins that aims to describe how companies transition from being average companies to great companies and how companies can fail to make the transition. “Good to Great” attained long-running positions on the New York Times, Wall Street Journal and Business Week best-seller lists, sold 2.5 million hardcover copies since publication, and has been translated into 32 languages."Greatness" is defined as financial performance several multiples better than the market average over a sustained period. Collins finds the main factor for achieving the transition to be a narrow focusing of the company’s resources on their field of competence. Collins used a large team of researchers who studied "6,000 articles, generated more than 2,000 pages of interview transcripts and created 384 megabytes of computer data in a five-year project". In this book summary of "Good to Great" you can discover the condensed wisdom to be gained from the book. You can discover what differences there were in companies that managed to achieve greatness. Do you want to know the characteristics of a leader most likely to take their company from good to great? Do you want to know how to hire the right people? The book summary includes information on each of the topics covered in “Good To Great” in a format that will help you while reducing the time required for reading the entire book.Chapter One: Good is the Enemy of GreatChapter Two: Level 5 Leadership Chapter Three: First Who… Then What Chapter Four: Confront the Brutal Facts Chapter Five: The Hedgehog Concept Chapter Six: A Culture of DisciplineChapter Seven: Technology AcceleratorsChapter Eight: The Flywheel and the Doom LoopChapter Nine: From Good to Great to Built to LastThe author of “Good to Great”, James C. "Jim" Collins, III is an American business consultant, author, and lecturer on the subject of company sustainability and growth. Jim Collins frequently contributes to Harvard Business Review, Business Week, Fortune and other magazines, journals, etc. Collins began his research and teaching career on the faculty at Stanford University's Graduate School of Business, where he received the Distinguished Teaching Award in 1992. In 1995, he founded a management laboratory in Boulder, Colorado, where he now conducts research and teaches executives from the corporate and social sectors.
The Essential Retirement Guide: A Contrarian's Perspective
Frederick Vettese - 2015
Unfortunately, much of the advice that is dispensed is either unsubstantiated or betrays a strong vested interest. In The Essential Retirement Guide, Frederick Vettese analyses the most fundamental questions of retirement planning and offers some startling insights. The book finds, for example that:Saving 10 percent a year is not a bad rule of thumb if you could follow it, but there will be times when you cannot do so and it might not even be advisable to try. Most people never spend more than 50 percent of their gross income on themselves before retirement; hence their retirement income target is usually much less than 70 percent. Interest rates will almost certainly stay low for the next 20 years, which will affect how much you need to save. Even in this low-interest environment, you can withdraw 5 percent or more of your retirement savings each year in retirement without running out of money. Your spending in retirement will almost certainly decline at a certain age so you may not need to save quite as much as you think. As people reach the later stages of retirement, they become less capable of managing their finances, even though they grow more confident of their ability to do so! Plan for this before it is too late. Annuities have become very expensive, but they still make sense for a host of reasons. In addition, The Essential Retirement Guide shows how you can estimate your own lifespan and helps you to understand the financial implications of long-term care. Most importantly, it reveals how you can calculate your personal wealth target - the amount of money you will need by the time you retire to live comfortably. The author uses his actuarial expertise to substantiate his findings but does so in a jargon-free way.
The Science of Getting Rich
Wallace D. Wattles - 1910
Wattles spent a lifetime considering the laws of success as he found them in the work of the world’s great philosophers. He then turned his life effort into this simple, slender book – a volume that he vowed could replace libraries of philosophy, spirituality, and self-help for the purpose of attaining one definite goal: a life of prosperity. Wattles describes a definite science of wealth attraction, built on the foundation of one commanding idea: “There is a thinking stuff from which all things are made…A thought, in this substance, produces the thing that is imaged by the thought.” In his seventeen short, straight-to-the-point chapters, Wattles shows how to use this idea, how to overcome barriers to its application, and how work with very direct methods that awaken it in your life. He further explains how creation and not competition is the hidden key to wealth attraction, and how your power to get rich uplifts everyone around you. The Science of Getting Rich concludes with Wattle’s rare essay “How to Get Want You Want” – a brilliant refresher of his laws of wealth creation.
Warren Buffett: The Ultimate Guide To Investing like Warren Buffet. Learn the Warren Buffet Way, the Warren Buffett Portfolio and the Warren Buffett Stocks
Richard Borrows - 2015
Learn the Warren Buffet Way, the Warren Buffett Portfolio and the Warren Buffett Stocks The stock market has developed a reputation among the people of the world as a mystical entity. It has become a realm with the top closed in on Wall Street with a circle of seemingly impenetrable suits even though the reality is that anyone can become an investor. Although the average Joe might be at an immediate disadvantage in terms of safety funds and insider knowledge on the best deals and short term fluctuations of a stock, there are most definitely options such as mutual funds like index funds that are easy to use and relatively safe in comparison to filling a portfolio with a narrow range of risky securities. Warren Buffett is known today as a massively successful entrepreneur and investor. However, all successful people had to make their way from the beginning, Warren Buffett included. It is often both inspiring and a key to understanding to look at a successful person’s journey to success, and so in this book I cover Warren Buffett’s success story, the Warren Buffett Way, his portfolio and stocks, quotes, and tips. I hope that with this book, you will not only learn to be a smart investor, but become successful in more ways than one while gaining insight into the business world as a whole. Specific topics covered in this book include: ● Warren Buffett’s Road to Success ● The Warren Buffett Way ● The Warren Buffett Portfolio ● The Warren Buffett Stocks ● Motivational Warren Buffett Quotes ● Final Warren Buffett Investing Tips
My Warren Buffett Bible: A Short and Simple Guide to Rational Investing: 284 Quotes from the World's Most Successful Investor
Robert L. Bloch - 2015
Bloch, the son of Henry Bloch who co-founded H&R Block, has been an avid investor his whole life.
"For the investor, the business owner, the intelligent man or woman of any employment or occupation, I cannot imagine a more useful book. This is a shining, brilliant star of advice and insights from a genuinely great man, Warren E. Buffett. You cannot afford NOT to buy this book." -Ben Stein, New York Times bestselling author and economist"A must-read for Americans of all ages and professions...brings Warren Buffett's commonsense wisdom together in one book. I could not put it down!" -John G. Stumpf, chairman and CEO of Wells Fargo & Company "Congratulations on this great achievement!" -Michael R. Bloomberg, founder and CEO of Bloomberg L.P. and 108th Mayor of New York CityIf the legendary Warren Buffett was willing to tell you the inside secrets that made him the world's most successful investor, would you be interested? If you knew how simple, basic and powerful his wisdom is, you'd probably say "yes!" Beyond the financial benefits, the author shares a side of Buffett that is incredibly human, optimistic and loaded with musings that will enrich every aspect of your life.Warren Buffett turned Berkshire Hathaway from a struggling small textile business into the fifth-largest public company in the world, valued at nearly $350 billion. The Oracle of Omaha is well known for his timeless and invaluable principles regarding investing and finances. Countless people looking to be smarter with their money and investments have turned to Buffett for his advice. One of those people is Robert Bloch, son of the cofounder of the tax preparation company H&R Block.This book contains nearly three hundred quotes that Bloch has personally found to be indispensable to financial success. With the written blessing of Buffett himself, Bloch has selected the best of Buffett's wisdom that will guide you to be a more successful and disciplined long-term investor. My Warren Buffett Bible was one of just a few titles offered for sale to shareholders at the Berkshire Hathaway Annual Meeting.
Stock Smarts: Stock Investing Made Easy
Marvin Germo - 2013
The heart of Stock Smarts is to break it down to its simplest form and inspire employees, professionals and business people to participate and make money in the market.This book is to encourage every Filipino to profit from stocks and forge their way to financial freedom.