Book picks similar to
A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers by Lawrence G. McDonald
business
non-fiction
finance
economics
Idea Man
Paul Allen - 2011
In 2007 and 2008, Time named Paul Allen, the cofounder of Microsoft, one of the hundred most influential people in the world. Since he made his fortune, his impact has been felt in science, technology, business, medicine, sports, music, and philanthropy. His passion, curiosity, and intellectual rigor-combined with the resources to launch and support new initiatives-have literally changed the world. In 2009 Allen discovered that he had lymphoma, lending urgency to his desire to share his story for the first time. In this long-awaited memoir, Allen explains how he has solved problems, what he's learned from his many endeavors-both the triumphs and the failures-and his compelling vision for the future. He reflects candidly on an extraordinary life. The book also features previously untold stories about everything from the true origins of Microsoft to Allen's role in the dawn of private space travel (with SpaceShipOne) and in discoveries at the frontiers of brain science. With honesty, humor, and insight, Allen tells the story of a life of ideas made real.
The Four Pillars of Investing
William J. Bernstein - 2002
Explains how independent investors can construct a superior investment portfolio by learning the four essentials of investing.
Fear: Trump in the White House
Bob Woodward - 2018
Woodward draws from hundreds of hours of interviews with firsthand sources, meeting notes, personal diaries, files and documents. The focus is on the explosive debates and the decision-making in the Oval Office, the Situation Room, Air Force One and the White House residence.Fear is the most intimate portrait of a sitting president ever published during the president’s first years in office.
What Happened
Hillary Rodham Clinton - 2017
Now I’m letting my guard down.” —Hillary Rodham Clinton, from the introduction of What HappenedFor the first time, Hillary Rodham Clinton reveals what she was thinking and feeling during one of the most controversial and unpredictable presidential elections in history. Now free from the constraints of running, Hillary takes you inside the intense personal experience of becoming the first woman nominated for president by a major party in an election marked by rage, sexism, exhilarating highs and infuriating lows, stranger-than-fiction twists, Russian interference, and an opponent who broke all the rules. This is her most personal memoir yet. In these pages, she describes what it was like to run against Donald Trump, the mistakes she made, how she has coped with a shocking and devastating loss, and how she found the strength to pick herself back up afterward. With humor and candor, she tells readers what it took to get back on her feet—the rituals, relationships, and reading that got her through, and what the experience has taught her about life. She speaks about the challenges of being a strong woman in the public eye, the criticism over her voice, age, and appearance, and the double standard confronting women in politics. She lays out how the 2016 election was marked by an unprecedented assault on our democracy by a foreign adversary. By analyzing the evidence and connecting the dots, Hillary shows just how dangerous the forces are that shaped the outcome, and why Americans need to understand them to protect our values and our democracy in the future. The election of 2016 was unprecedented and historic. What Happened is the story of that campaign and its aftermath—both a deeply intimate account and a cautionary tale for the nation.
Adaptive Markets: Financial Evolution at the Speed of Thought
Andrew W. Lo - 2017
This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought--a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications--including how hedge funds have become the Galapagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.
A History of the United States in Five Crashes: Stock Market Meltdowns That Defined a Nation
Scott Nations - 2017
Only billionaire J.P. Morgan was able to save the stock market.Black Tuesday (1929): As the newly created Federal Reserve System repeatedly adjusted interest rates in all the wrong ways, investment trusts, the darlings of that decade, became the catalyst that caused the bubble to burst, and the Dow fell dramatically, leading swiftly to the Great Depression.Black Monday (1987): When "portfolio insurance," a new tool meant to protect investments, instead led to increased losses, and corporate raiders drove stock prices above their real values, the Dow dropped an astonishing 22.6 percent in one day.The Great Recession (2008): As homeowners began defaulting on mortgages, investment portfolios that contained them collapsed, bringing the nation's largest banks, much of the economy, and the stock market down with them.The Flash Crash (2010): When one investment manager, using a runaway computer algorithm that was dangerously unstable and poorly understood, reacted to the economic turmoil in Greece, the stock market took an unprecedentedly sudden plunge, with the Dow shedding 998.5 points (roughly a trillion dollars in valuation) in just minutes.The stories behind the great crashes are filled with drama, human foibles, and heroic rescues. Taken together they tell the larger story of a nation reaching enormous heights of financial power while experiencing precipitous dips that alter and reset a market where millions of Americans invest their savings, and on which they depend for their futures. Scott Nations vividly shows how each of these major crashes played a role in America's political and cultural fabric, each providing painful lessons that have strengthened us and helped us to build the nation we know today.A History of the United States in Five Crashes clearly and compellingly illustrates the connections between these major financial collapses and examines the solid, clear-cut lessons they offer for preventing the next one.
Generation Kill: Devil Dogs, Iceman, Captain America, and the New Face of American War
Evan Wright - 2004
It's only five in the afternoon, but a sandtorm has plunged everything into a hellish twilight of murky, red dust. On rooftops, in alleyways lurk militiamen with machine guns, AK rifles and the odd rocket-propelled grenade. Artillery bombardment has shattered the town's sewers and rubble is piled up in lagoons of human excrement. It stinks. Welcome to Iraq...
Within hours of 9/11, America's war on terrorism fell to those like the 23 Marines of the First Recon Battalion, the first generation dispatched into open-ed combat since Vietnam. They were a new breed of American warrior unrecognizable to their forebears-soldiers raised on hip hop, Internet porn, Marilyn Manson, video games and The Real World, a band of born-again Christians, dopers, Buddhists, and New Agers who gleaned their precepts from kung fu movies and Oprah Winfrey. Cocky, brave, headstrong, wary, and mostly unprepared for the physical, emotional, and moral horrors ahead, the "First Suicide Battalion" would spearhead the blitzkrieg on Iraq, and fight against the hardest resistance Saddam had to offer. Generation Kill is the funny, frightening, and profane firsthand account of these remarkable men, of the personal toll of victory, and of the randomness, brutality, and camaraderie of a new American war.
Against the Gods: The Remarkable Story of Risk
Peter L. Bernstein - 1996
Peter Bernstein has written a comprehensive history of man's efforts to understand risk and probability, beginning with early gamblers in ancient Greece, continuing through the 17th-century French mathematicians Pascal and Fermat and up to modern chaos theory. Along the way he demonstrates that understanding risk underlies everything from game theory to bridge-building to winemaking.
The Index Card: Why Personal Finance Doesn’t Have to Be Complicated
Helaine Olen - 2016
They’re wrong. When University of Chicago professor Harold Pollack interviewed Helaine Olen, an award-winning financial journalist and the author of the bestselling Pound Foolish, he made an off-hand suggestion: everything you need to know about managing your money could fit on an index card. To prove his point, he grabbed a 4" x 6" card, scribbled down a list of rules, and posted a picture of the card online. The post went viral. Now Pollack teams up with Olen to explain why the ten simple rules of the index card outperform more complicated financial strategies. Inside is an easy-to-follow action plan that works in good times and bad, giving you the tools, knowledge, and confidence to seize control of your financial life.
Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street
William Poundstone - 2006
One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein's. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory—the basis of computers and the Internet—to the problem of making as much money as possible, as fast as possible.Shannon and MIT mathematician Edward O. Thorp took the "Kelly formula" to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenonally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return. Fortune's Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider's edge.Shannon believed it was possible for a smart investor to beat the market—and Fortune's Formula will convince you that he was right.
Debt: The First 5,000 Years
David Graeber - 2011
The problem with this version of history? There’s not a shred of evidence to support it.Here anthropologist David Graeber presents a stunning reversal of conventional wisdom. He shows that for more than 5,000 years, since the beginnings of the first agrarian empires, humans have used elaborate credit systems to buy and sell goods—that is, long before the invention of coins or cash. It is in this era, Graeber argues, that we also first encounter a society divided into debtors and creditors. Graeber shows that arguments about debt and debt forgiveness have been at the center of political debates from Italy to China, as well as sparking innumerable insurrections. He also brilliantly demonstrates that the language of the ancient works of law and religion (words like “guilt,” “sin,” and “redemption”) derive in large part from ancient debates about debt, and shape even our most basic ideas of right and wrong. We are still fighting these battles today without knowing it.Debt: The First 5,000 Years is a fascinating chronicle of this little known history—as well as how it has defined human history, and what it means for the credit crisis of the present day and the future of our economy.
Kleptopia: How Dirty Money is Conquering the World
Tom Burgis - 2020
A magisterial account of the money and violence behind the world’s most powerful dictatorships.” –Washington PostIn this shocking, meticulously reported work of narrative nonfiction, an award-winning investigative journalist exposes “capitalism’s monster”—global kleptocracy—and reveals how it is corrupting the world around us.They are everywhere, the thieves and their people. Masters of secrecy. Until now we have detected their presence only by what they leave behind. A body in a burned-out Audi. Workers riddled with bullets in the Kazakh Desert. A rigged election in Zimbabwe. A British banker silenced and humiliated for trying to expose the truth about the City of London.They have amassed more money than most countries. But what they are really stealing is power.In this real-life thriller packed with jaw-dropping revelations, award-winning investigative journalist Tom Burgis weaves together four stories that reveal a terrifying global web of corruption: the troublemaker from Basingstoke who stumbles on the secrets of a Swiss bank, the ex-Soviet billionaire constructing a private empire, the righteous Canadian lawyer with a mysterious client, and the Brooklyn crook protected by the CIA.Glimpses of this shadowy world have emerged over the years. In Kleptopia, Burgis connects the dots. He follows the dirty money that is flooding the global economy, emboldening dictators, and poisoning democracies. From the Kremlin to Beijing, Harare to Riyadh, Paris to the White House, the trail shows something even more sinister: the thieves are uniting. And the human cost will be great.
I Drink for a Reason
David Cross - 2009
Known for roles on the small screen such as "never-nude" Tobias Funke on "Arrested Development "and the role of "David" in "Mr. Show With Bob And David, "as well as a hugely successful stand-up routine full of sharp-tongued rants and rages, Cross has carved out his place in American comedy. Whether deflating the pomposity of religious figures, calling out the pathetic symbiosis of pseudo-celebrity and its leaching fandom, or merely pushing the buttons of the way-too-easily offended P.C. left or the caustic, double-standard of the callous (but funnier) right, Cross has something to say about everyone, including his own ridiculous self. Now, for the first time, Cross is weaving his media mockery, celebrity denunciation, religious commentary and sheer madness into book form, revealing the true story behind his almost existential distaste of Jim Belushi ("The Belush"), disclosing the up-to-now unpublished minutes to a meeting of Fox television network executives, and offering up a brutally grotesque run-in with Bill O'Reilly. And as if this wasn't enough for your laughing pleasure in these troubled times, some of the pieces splinter off with additional material being created online in exclusive video and animated web content created solely for the book-a historical first (presumably)! With a mix of personal essays, satirical fiction posing as truth, advice for rich people, information from America's least favorite Rabbi and a top-ten list of top-ten lists, I DRINK FOR A REASON is as unique as the comedian himself, and cannot be missed.
The Barefoot Investor: The Only Money Guide You'll Ever Need
Scott Pape - 2016
So what makes this one different? Well, you won't be overwhelmed with a bunch of 'tips' … or a strict budget (that you won't follow). You'll get a step-by-step formula: open this account, then do this; call this person, and say this; invest money here, and not there. All with a glass of wine in your hand. This book will show you how to create an entire financial plan that is so simple you can sketch it on the back of a serviette … and you'll be able to manage your money in 10 minutes a week. You'll also get the skinny on: Saving up a six-figure house deposit in 20 months Doubling your income using the 'Trapeze Strategy' Saving $78,173 on your mortgage and wiping out 7 years of payments Finding a financial advisor who won't rip you off Handing your kids (or grandkids) a $140,000 cheque on their 21st birthday Why you don't need $1 million to retire … with the 'Donald Bradman Retirement Strategy' Sound too good to be true? It's not. This book is full of stories from everyday Aussies — single people, young families, empty nesters, retirees — who have applied the simple steps in this book and achieved amazing, life-changing results.
And you're next.
Last Words
George Carlin - 2009
Last Words is the story of the man behind some of the most seminal comedy of the last half century, blending his signature acerbic humor with never-before-told stories from his own life. Carlin’s early conflicts, his long struggle with substance abuse, his turbulent relationships with his family, and his triumphs over catastrophic setbacks all fueled the unique comedic worldview he brought to the stage. From the heights of stardom to the low points few knew about, Last Words is told with the same razor-sharp honesty that made Carlin one of the best-loved comedians in American history.