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.

    Hamilton was a well-known figure on Wall Street. Cornelius Vanderbilt, America's first tycoon, came to respect, grudgingly, his one-time opponent. The day after Vanderbilt's death on January 4, 1877, an almost full-page obituary on the front of the National Republican acknowledged that, in the context of his Wall Street share transactions, "There was only one man who ever fought the Commodore to the end, and that was Jeremiah Hamilton."What Vanderbilt's obituary failed to mention, perhaps as contemporaries already knew it well, was that Hamilton was African American. Hamilton, although his origins were lowly, possibly slave, was reportedly the richest colored man in the United States, possessing a fortune of $2 million, or in excess of two hundred and $50 million in today's currency.In this groundbreaking and vivid account, eminent historian Shane White reveals the larger than life story of a man who defied every convention of his time. He wheeled and dealed in the lily white business world, he married a white woman, he bought a mansion in rural New Jersey, he owned railroad stock on trains he was not legally allowed to ride, and generally set his white contemporaries teeth on edge when he wasn't just plain outsmarting them. An important contribution to American history, the Hamilton's life offers a way into considering, from the unusual perspective of a black man.

    costume ball--a coup for the former Alva Smith, who not long before was destitute, her family's good name useless on its own. Marrying into the newly rich but socially scorned Vanderbilt clan, a union contrived by Alva's bestfriend and now-Duchess of Manchester, saved the Smiths--and elevated the Vanderbilts.From outside, Alva seems to have it all and want more. She does have a knack for getting all she tries for: the costume ball--no mere amusement--wrests acceptance from doyenne Caroline Astor. Denied abox at the Academy of Music, Alva founds The Met. No obstacle puts her off for long.But how much of ambition arises from insecurity? From despair? From refusal to play insipid games by absurd rules? --There are, however, consequences to breaking those rules. One must tread carefully.And what of her maddening sister-in-law, Alice? Her husband William, who's hiding a terrible betrayal? The not-entirely-unwelcome attentions of his friend Oliver Belmont, who is everything William is not? What of her own best friend, whose troubles cast a wide net?Alva will build mansions, push boundaries, test friendships, and marry her daughter to England's most eligible duke or die trying. She means to do right by all, but good behavior will only get a woman so far. What is the price of going further? What might be the rewards? There's only one way to know for certain...

    The how we got here is brilliantly described in a collection of pieces from Grant's Interest Rate Observer, the Wall Street insider's Bible. The where we are going is treated in Jim Grant's up-to-the-minute introduction. No fan of Greenspan or Bernanke, Grant tells the unvarnished truth about America.

    From Alexander Hamilton to Michael Milken, the history of Wall Street is a history of risk, courage, avarice, patriotism, power, genius, and, occasionally, remarkable stupidity. In Gordon, Wall Street has finally found a biographer worthy of its extraordinary story.

    This simple fact, writes James McPherson, has escaped a generation of historians who have looked to faulty morale, population, economics, and dissent as the causes of Confederate failure. These were all factors, he writes, but the Civil War was still a war--won by the Union army through key victories at key moments.With this brilliant review of how historians have explained the Southern defeat, McPherson opens a fascinating account by several leading historians of how the Union broke the Confederate rebellion. In every chapter, the military struggle takes center stage, as the authors reveal how battlefield decisions shaped the very forces that many scholars (putting the cart before the horse) claim determined the outcome of the war. Archer Jones examines the strategy of the two sides, showing how each had to match its military planning to political necessity. Lee raided north of the Potomac with one eye on European recognition and the other on Northern public opinion--but his inevitable retreats looked like failure to the Southern public. The North, however, developed a strategy of deep raids that was extremely effective because it served a valuable political as well as military purpose, shattering Southern morale by tearing up the interior. Gary Gallagher takes a hard look at the role of generals, narrowing his focus to the crucial triumvirate of Lee, Grant, and Sherman, who towered above the others. Lee's aggressiveness may have been costly, but he well knew the political impact of his spectacular victories; Grant and Sherman, meanwhile, were the first Union generals to fully harness Northern resources and carry out coordinated campaigns. Reid Mitchell shows how the Union's advantage in numbers was enhanced by a dedication and perseverance of federal troops that was not matched by the Confederates after their home front began to collapse. And Joseph Glatthaar examines black troops, whose role is entering the realm of national myth.In 1960, there appeared a collection of essays by major historians, entitled Why the North Won the Civil War, edited by David Donald; it is now in its twenty-sixth printing, having sold well over 100,000 copies. Why the Confederacy Lost provides a parallel volume, written by today's leading authorities. Provocatively argued and engagingly written, this work reminds us that the hard-won triumph of the North was far from inevitable.

    Medill personally influenced the political tide that transformed America during the midnineteenth century by fostering the Republican Party, engineering the election of Abraham Lincoln and serving as a catalyst for the outbreak of the Civil War. The dynasty he established, filled with colorful characters, went on to take American journalism by storm. His grandson, Colonel Robert R. McCormick, personified Chicago, as well as its great newspaper, the Chicago Tribune, throughout much of the twentieth century. Robert’s cousin, Joseph Medill Patterson, started the New York Daily News, and Joe’s sister, Cissy Patterson, was the innovative editor of the Washington Times-Herald. In the fourth generation, Alicia Patterson founded Long Island’s Newsday, the most stunning journalistic accomplishment of post–World War II America. Printer’s ink raged in the veins of the Medills, the McCormicks and the Pattersons throughout a century, and their legacy prevailed for another five decades—always in the forefront of events, shaping the intellectual and social pulse of America. At the same time, the dark side of the intellectual stardom driving the dynasty was a destructive compulsion that left clan members crippled by their personal demons of chronic depression, alcoholism, drug abuse and even madness and suicide. Rife with authentic conversations and riveting quotes, The Magnificent Medills is the premiere cultural history of America’s first media empire. This dynamic family and their brilliance, eccentricities and ultimate self-destruction are explored in a sweeping narrative that interweaves the family’s personal activities and public achievements against a larger historical background. Authoritative, compelling and thoroughly engaging, The Magnificent Medills brings the pages of history that the Medills wrote vividly to life.

    But as Jane Mayer shows in this powerful, meticulously reported history, a network of exceedingly wealthy people with extreme libertarian views bankrolled a systematic, step-by-step plan to fundamentally alter the American political system.The network has brought together some of the richest people on the planet. Their core beliefs—that taxes are a form of tyranny; that government oversight of business is an assault on freedom—are sincerely held. But these beliefs also advance their personal and corporate interests: Many of their companies have run afoul of federal pollution, worker safety, securities, and tax laws.The chief figures in the network are Charles and David Koch, whose father made his fortune in part by building oil refineries in Stalin’s Russia and Hitler’s Germany. The patriarch later was a founding member of the John Birch Society, whose politics were so radical it believed Dwight Eisenhower was a communist. The brothers were schooled in a political philosophy that asserted the only role of government is to provide security and to enforce property rights.When libertarian ideas proved decidedly unpopular with voters, the Koch brothers and their allies chose another path. If they pooled their vast resources, they could fund an interlocking array of organizations that could work in tandem to influence and ultimately control academic institutions, think tanks, the courts, statehouses, Congress, and, they hoped, the presidency. Richard Mellon Scaife, the mercurial heir to banking and oil fortunes, had the brilliant insight that most of their political activities could be written off as tax-deductible “philanthropy.”These organizations were given innocuous names such as Americans for Prosperity. Funding sources were hidden whenever possible. This process reached its apotheosis with the allegedly populist Tea Party movement, abetted mightily by the Citizens United decision—a case conceived of by legal advocates funded by the network.The political operatives the network employs are disciplined, smart, and at times ruthless. Mayer documents instances in which people affiliated with these groups hired private detectives to impugn whistle-blowers, journalists, and even government investigators. And their efforts have been remarkably successful. Libertarian views on taxes and regulation, once far outside the mainstream and still rejected by most Americans, are ascendant in the majority of state governments, the Supreme Court, and Congress. Meaningful environmental, labor, finance, and tax reforms have been stymied.Jane Mayer spent five years conducting hundreds of interviews-including with several sources within the network-and scoured public records, private papers, and court proceedings in reporting this book. In a taut and utterly convincing narrative, she traces the byzantine trail of the billions of dollars spent by the network and provides vivid portraits of the colorful figures behind the new American oligarchy.Dark Money is a book that must be read by anyone who cares about the future of American democracy.

    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.

    The entrepreneurs studied are Cornelius Vanderbilt, John D. Rockefeller, James J. Hill, Andrew Mellon, Charles Schwab, and the Scranton family. Most historians argue that these men, and others like them, were Robber Barons. The story, however, is more complicated. The author, Burton Folsom, divides the entrepreneurs into two groups market entrepreneurs and political entrepreneurs. The market entrepreneurs, such as Hill, Vanderbilt, and Rockefeller, succeeded by producing a quality product at a competitive price. The political entrepreneurs such as Edward Collins in steamships and in railroads the leaders of the Union Pacific Railroad were men who used the power of government to succeed. They tried to gain subsidies, or in some way use government to stop competitors. The market entrepreneurs helped lead to the rise of the U. S. as a major economic power. By 1910, the U. S. dominated the world in oil, steel, and railroads led by Rockefeller, Schwab (and Carnegie), and Hill. The political entrepreneurs, by contrast, were a drain on the taxpayers and a thorn in the side of the market entrepreneurs. Interestingly, the political entrepreneurs often failed without help from government they could not produce competitive products. The author describes this clash of the market entrepreneurs and the political entrepreneurs. In the Mellon chapter, the author describes how Andrew Mellon an entrepreneur in oil and aluminum became Secretary of Treasury under Coolidge. In office, Mellon was the first American to practice supply-side economics. He supported cuts on income tax rates for all groups. The rate cut on the wealthiest Americans, from 73 percent to 25 percent, freed up investment capital and led to American economic growth during the 1920s. Also, the amount of revenue into the federal treasury increased sharply after tax rates were cut. The Myth of the Robber Barons has separate chapters on Vanderbilt, Hill, Schwab, Mellon, and the Scrantons. The author also has a conclusion, in which he looks at the textbook bias on the subject of Robber Barons and the rise of the U. S. in the late 1800s. This chapter explores three leading college texts in U. S. history and shows how they misread American history and disparage market entrepreneurs instead of the political entrepreneurs. This book is in its fifth edition, and is widely adopted in college and high school classrooms across the U. S.

    Women wanted to be her. Men just wanted her. When her life of fantasy became all too real, and her jealous millionaire husband, Harry K. Thaw, killed her lover, celebrity architect Stanford White, builder of the Washington Square Arch and much of New York City, she found herself at the center of the Crime of the Century, and the popular courtroom drama that followed, a scandal that signaled the beginning of a national obsession with youth, beauty, celebrity, and sex.The story of Evelyn Nesbit is one of glamour, money, romance, sex, madness, and murder, and Paula Uruburu weaves all of these elements into an elegant narrativethat reads like the best fiction - only it's all true. American Eve goes far beyond just literary biography; it paints a picture of America as it crossed from the Victorian era into the modern, foreshadowing so much of our contemporary culture today.

    Their objective was to reach beyond the traditional focus of military studies--the flow of guns, combat, and tactics that influenced the immediate outcome of battles and martial conflicts, often with little reference to broader historical contexts.Believing that one cannot fully appreciate the Revolution without reckoning with the War for Independence and its effects in helping to shape the new American republic, Martin and Lender move beyond the deeply ingrained national mythology about the essence of the war effort, so neatly personified by the imagery of the embattled freehold farmer as the quintessential warrior of the Revolution. Then they integrate, not persist in keeping separate, the fascinating history of the real Continental army into the mainstream of writing about the nation-making experience of the United States.In the process of revising their now-classic text, Martin and Lender drew on their own work as well as the invaluable outpouring of new scholarship over the last two decades. Wherever necessary, they questioned previous arguments and conclusions to render a meaningful new edition that is certain to receive the same kind of positive reception--and widespread acceptance--that its predecessor enjoyed.Also new to the second edition is a bank of illustrations, a Note on Revolutionary War History and Historiography, and a fully revamped Bibliographical Essay, making A Respectable Armyessential reading for anyone enrolled in the U.S. survey or specialized courses in colonial or military history or the American Revolution.

    In this narrative, readers experience The Great Hurricane of 1938, the most financially destructive storm on record.

    The stunning rise, fall, and rescue of Wall Street in the bubble-and-bailout era was the coming-out party for the network of looters who sit at the nexus of American political and economic power. The grifter class—made up of the largest players in the financial industry and the politicians who do their bidding—has been growing in power for a generation, transferring wealth upward through increasingly complex financial mechanisms and political maneuvers. The crisis was only one terrifying manifestation of how they’ve hijacked America’s political and economic life.Rolling Stone’s Matt Taibbi here unravels the whole fiendish story, digging beyond the headlines to get into the deeper roots and wider implications of the rise of the grifters. He traces the movement’s origins to the cult of Ayn Rand and her most influential—and possibly weirdest—acolyte, Alan Greenspan, and offers fresh reporting on the backroom deals that decided the winners and losers in the government bailouts. He uncovers the hidden commodities bubble that transferred billions of dollars to Wall Street while creating food shortages around the world, and he shows how finance dominates politics, from the story of investment bankers auctioning off America’s infrastructure to an inside account of the high-stakes battle for health-care reform—a battle the true reformers lost. Finally, he tells the story of Goldman Sachs, the “vampire squid wrapped around the face of humanity.” Taibbi has combined deep sources, trailblazing reportage, and provocative analysis to create the most lucid, emotionally galvanizing, and scathingly funny account yet written of the ongoing political and financial crisis in America. This is essential reading for anyone who wants to understand the labyrinthine inner workings of politics and finance in this country, and the profound consequences for us all.

    The first major history ever written on the first battle of the Civil War, this narrative describes the chaotic fighting by courageous amateurs that nearly resulted in Confederate independence.