The Art of Short Selling


Kathryn F. Staley - 1996
    Her approach to telling the truestories of famous investment 'scams' will keep the readerspellbound, while teaching the investor many cruciallessons.--David W. Tice, Portfolio Manager, Prudent BearFundSelling short is still a misunderstood discipline, but even themost raging bull needs to know this valuable technique to masterthe ever-changing markets.--Jim Rogers, author, InvestmentBikerOn the investment playing field, there is perhaps no game moreexciting than short selling. With the right moves, it can yieldhigh returns; one misstep, however, can have disastrousconsequences. Despite the risk, a growing number of players areanteing up, sparked in part by success stories such as that ofGeorge Soros and the billions he netted by short selling theBritish pound. In The Art of Short Selling, Kathryn Staley, anexpert in the field, examines the essentials of this importantinvestment vehicle, providing a comprehensive game plan with whichyou can effectively play--and win--the short selling game.Whether used as a means of hedging bets, decreasing the volatilityof total returns, or improving returns, short selling must behandled with care--and with the right know-how. As Staley pointsout, Short selling is not for the faint of heart. If a stock movesagainst the position holder, the effect on a portfolio and networth can be devastating. Investors need to understand the impacton their accounts as well as the consequences of getting bought inbefore they indulge in short selling. The Art of Short Sellingguides you--clearly and concisely--through the ins and outs of thishigh-risk, high-stakes game.The first--and most important--move in selling short is to identifyflaws in a business before its share prices drop. To help youtackle this key step, Staley shows you how to evaluate companyfinancial statements and balance sheets, make sense of returnratios, detect inconsistencies in inventory, and analyze thestatement of cash flows. Through real-world examples thatillustrate the shorting of bubble, high multiple growth, and themestocks, you'll proceed step by step through the complete processand learn to carry out all the essentials for a successful shortsell, including quantifying the risk factor and orchestratingcorrect timing, as well as implementing advanced valuationtechniques to execute the sell/buy.Packed with landmark, cutting-edge examples, up-to-the-minuteguidelines, and pertinent regulations, The Art of Short Selling isa timely and comprehensive reference that arms you with thenecessary tools to make a prepared and confident entrance onto theshort selling playing field.

Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean


Karen Berman - 2006
    But many managers can't read a balance sheet, wouldn't recognize a liquidity ratio, and don't know how to calculate return on investment. Worse, they don't have any idea where the numbers come from or how reliable they really are. In Financial Intelligence, Karen Berman and Joe Knight teach the basics of finance--but with a twist. Financial reporting, they argue, is as much art as science. Because nobody can quantify everything, accountants always rely on estimates, assumptions, and judgment calls. Savvy managers need to know how those sources of possible bias can affect the financials and that sometimes the numbers can be challenged. While providing the foundation for a deep understanding of the financial side of business, the book also arms managers with practical strategies for improving their companies' performance--strategies, such as "managing the balance sheet," that are well understood by financial professionals but rarely shared with their nonfinancial colleagues. Accessible, jargon-free, and filled with entertaining stories of real companies, Financial Intelligence gives nonfinancial managers the financial knowledge and confidence for their everyday work. Karen Berman and Joe Knight are the owners of the Los Angeles-based Business Literacy Institute and have trained tens of thousands of managers at many leading organizations. Co-author John Case has written several popular books on management.

A Rip in Heaven


Jeanine Cummins - 2004
    It was covered by Court TV and profiled on the Ricki Lake Show. Now, here is the intimate memoir of a shocking crime and its aftermath...one family's immediate and unforgettable story of what victims can suffer long after they should be safe.

Modoc: The True Story of the Greatest Elephant That Ever Lived


Ralph Helfer - 1997
    The message of what can be accomplished by training through affection and joy will thrill all animal lovers." -- Betty White

The Psychology of Money


Morgan Housel - 2020
    It’s about how you behave. And behavior is hard to teach, even to really smart people. How to manage money, invest it, and make business decisions are typically considered to involve a lot of mathematical calculations, where data and formulae tell us exactly what to do. But in the real world, people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In the psychology of money, the author shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important matters.

That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea


Marc Randolph - 2019
    Late fees were ubiquitous, video-streaming unheard was of, and widespread DVD adoption seemed about as imminent as flying cars. Indeed, these were the widely accepted laws of the land in 1997, when Marc Randolph had an idea. It was a simple thought—leveraging the internet to rent movies—and was just one of many more and far worse proposals, like personalized baseball bats and a shampoo delivery service, that Randolph would pitch to his business partner, Reed Hastings, on their commute to work each morning.But Hastings was intrigued, and the pair—with Hastings as the primary investor and Randolph as the CEO—founded a company. Now with over 150 million subscribers, Netflix's triumph feels inevitable, but the twenty first century's most disruptive start up began with few believers and calamity at every turn. From having to pitch his own mother on being an early investor, to the motel conference room that served as a first office, to server crashes on launch day, to the now-infamous meeting when Netflix brass pitched Blockbuster to acquire them, Marc Randolph's transformational journey exemplifies how anyone with grit, gut instincts, and determination can change the world—even with an idea that many think will never work.What emerges, though, isn't just the inside story of one of the world's most iconic companies. Full of counter-intuitive concepts and written in binge-worthy prose, it answers some of our most fundamental questions about taking that leap of faith in business or in life: How do you begin? How do you weather disappointment and failure? How do you deal with success? What even is success?From idea generation to team building to knowing when it's time to let go, That Will Never Work is not only the ultimate follow-your-dreams parable, but also one of the most dramatic and insightful entrepreneurial stories of our time.

Wall Street Meat: My Narrow Escape from the Stock Market Grinder


Andy Kessler - 2003
    All you have is your reputation. Taint it and someone else will fill your shoes. Longevity comes from maintaining that reputation.Ask Jack Grubman, the All-Star telecom analyst from Salomon Smith Barney; uber-banker Frank Quattrone at CS First Boston; Morgan Stanley's Mary "Queen of the Net" Meeker; or Merrill Lynch's Henry Blodget.Well, they probably won't tell you anything. But have I got some great stories for you.Successful hedge fund manager Andy Kessler looks back on his years as an analyst on Wall Street and offers this cautionary tale of the intoxicating forces loose in the world of finance that overwhelmed sober analysis.

An Astronaut's Guide to Life on Earth


Chris Hadfield - 2013
    During this time he has broken into a Space Station with a Swiss army knife, disposed of a live snake while piloting a plane, and been temporarily blinded while clinging to the exterior of an orbiting spacecraft. The secret to Col. Hadfield's success-and survival-is an unconventional philosophy he learned at NASA: prepare for the worst-and enjoy every moment of it. In An Astronaut's Guide to Life on Earth, Col. Hadfield takes readers deep into his years of training and space exploration to show how to make the impossible possible. Through eye-opening, entertaining stories filled with the adrenaline of launch, the mesmerizing wonder of spacewalks, and the measured, calm responses mandated by crises, he explains how conventional wisdom can get in the way of achievement-and happiness. His own extraordinary education in space has taught him some counterintuitive lessons: don't visualize success, do care what others think, and always sweat the small stuff. You might never be able to build a robot, pilot a spacecraft, make a music video or perform basic surgery in zero gravity like Col. Hadfield. But his vivid and refreshing insights will teach you how to think like an astronaut, and will change, completely, the way you view life on Earth-especially your own.

Banker to the Poor: Micro-Lending and the Battle Against World Poverty


Muhammad Yunus - 1991
    His dream is the total eradication of poverty from the world. In 1983, against the advice of banking and government officials, Yunus established Grameen, a bank devoted to providing the poorest of Bangladesh with minuscule loans. Grameen Bank, based on the belief that credit is a basic human right, not the privilege of a fortunate few, now provides over 2.5 billion dollars of micro-loans to more than two million families in rural Bangladesh. Ninety-four percent of Yunus's clients are women, and repayment rates are near 100 percent. Around the world, micro-lending programs inspired by Grameen are blossoming, with more than three hundred programs established in the United States alone. Banker to the Poor is Muhammad Yunus's memoir of how he decided to change his life in order to help the world's poor. In it he traces the intellectual and spiritual journey that led him to fundamentally rethink the economic relationship between rich and poor, and the challenges he and his colleagues faced in founding Grameen. He also provides wise, hopeful guidance for anyone who would like to join him in "putting homelessness and destitution in a museum so that one day our children will visit it and ask how we could have allowed such a terrible thing to go on for so long." The definitive history of micro-credit direct from the man that conceived of it, Banker to the Poor is necessary and inspirational reading for anyone interested in economics, public policy, philanthropy, social history, and business. Muhammad Yunus was born in Bangladesh and earned his Ph.D. in economics in the United States at Vanderbilt University, where he was deeply influenced by the civil rights movement. He still lives in Bangladesh, and travels widely around the world on behalf of Grameen Bank and the concept of micro-credit.

Quality of Earnings


Thornton L. O'glove - 1987
    An indispensable guide to determining how much money a company is really making and for buying and selling stocks without making costly blunders.

Van Gogh: The Life


Steven Naifeh - 2011
    Working with the full cooperation of the Van Gogh Museum in Amsterdam, Naifeh and Smith have accessed a wealth of previously untapped materials to bring a crucial understanding to the larger-than-life mythology of this great artist: his early struggles to find his place in the world; his intense relationship with his brother Theo; and his move to Provence, where he painted some of the best-loved works in Western art. The authors also shed new light on many unexplored aspects of Van Gogh’s inner world: his erratic and tumultuous romantic life; his bouts of depression and mental illness; and the cloudy circumstances surrounding his death at the age of thirty-seven.   Though countless books have been written about Van Gogh, no serious, ambitious examination of his life has been attempted in more than seventy years. Naifeh and Smith have re-created Van Gogh’s life with an astounding vividness and psychological acuity that bring a completely new and sympathetic understanding to this unique artistic genius.

Franklin Delano Roosevelt


Alan Brinkley - 2009
    "And no president since Lincoln has served through darker or more difficult times. Roosevelt thrived in crisis. It brought out his greatness, and his guile. It triggered his almost uncanny ability to communicate effectively with people of all kinds. And at times, it helped him excoriate his enemies, and to revel in doing so." This brilliant, compact biography chronicles Franklin Delano Roosevelt's rise from a childhood of privilege to a presidency that forever changed the face of international diplomacy, the American party system, and the government's role in global and domestic policy. Brinkley, the National Book Award-winning New Deal historian, provides a clear, concise introduction to Roosevelt's sphinx-like character and remarkable achievements. In a vivid narrative packed with telling anecdotes, the book moves swiftly from Roosevelt's youth in upstate New York--characterized by an aristocratic lifestyle of trips to Europe and private tutoring--to his schooling at Harvard, his brief law career, and his initial entry into politics. From there, Brinkley chronicles Roosevelt's rise to the presidency, a position in which FDR remained until death, through an unparalleled three-plus terms in office. Throughout the book, Brinkley elegantly blends FDR's personal life with his professional one, providing a lens into the President's struggles with polio and his somewhat distant relationship with the first lady. Franklin Delano Roosevelt led the United States through the worst economic crisis in the nation's history and through the greatest and most terrible war ever recorded. His extraordinary legacy remains alive in our own troubled new century as a reminder of what bravery and strong leadership can accomplish.

Broken Markets: How High Frequency Trading and Predatory Practices on Wall Street Are Destroying Investor Confidence and Your Portfolio


Sal L. Arnuk - 2012
    A small consortium of players is making billions by skimming and scalping unaware investors -- and, in so doing, they've transformed our markets from the world's envy into a barren wasteland of terror. Since these events began, Themis Trading's Joe Saluzzi and Sal Arnuk have offered an unwavering voice of reasoned dissent. Their small brokerage has stood up against the hijackers in every venue: their daily writings are now followed by investors, regulators, the media, and "Main Street" investors worldwide. Saluzzi and Arnuk don't take prisoners! Now, in "Broken Markets," they explain how all this happened, who did it, what it means, and what's coming next. You'll understand the true implications of events ranging from the crash of 1987 to the "Flash Crash" -- and discover what it all means to you and your future. Warning: you will get angry (if you aren't already). But you'll know exactly "why" you're angry, "who" you're angry at, and "what" needs to be done!

Options as a Strategic Investment


Lawrence G. McMillan - 1980
    A best-selling guide giving serious investors hundreds of market-tested strategies, to maximise the earnings potential of their portfolio while reducing risk.

The Ultimate Dividend Playbook: Income, Insight and Independence for Today's Investor


Josh Peters - 2008
    But how many investors have the time, talent, and luck to earn consistent returns this way? In The Ultimate Dividend Playbook: Income, Insight, and Independence for Today's Investor, Josh Peters, editor of the monthly Morningstar DividendInvestor newsletter, shows you why you don't have to try to beat the market and how you can use dividends to capture the income and growth you seek.