What does Buffett see that we on the outside do not? It’s all about the people. Charles D. Ellis has written a landmark book that couldn’t come at a better time. The Partnership: The Making of Goldman Sachs is the colorful and fascinating story of Goldman’s rise to power through many life-threatening changes in markets, competition, and regulation. It tells the personal history of the men and women who built the world’s leading financial powerhouse from a firm that was disgraced and nearly destroyed in 1929, limped along as a break-even operation through the Depression and WWII, and, with only one special service and one improbable banker, began the rise that, in half a century, took Goldman Sachs to global leadership. A conversation with Charles Ellis: * Is Goldman Sachs really a lot better than other firms at managing risk? The big difference is in the cumulative power of many “small” details. The difference in the speed, accuracy, and extent of communication inside the firm; the difference in intensity, focus, and disciplined toughness of the men and women hand selected to work there and real difference in recruiting, training, and compensation. All add up to a decisive advantage in management. Leaders and co-leaders manage Goldman’s many business units with rigor and drive; risk management is the envy of other banks; and coordination is powerful across business units and markets around the world. As every Olympic athlete knows, such small differences make all the difference between gold, silver or bronze – or no medal at all. In the current, very difficult test, Goldman Sachs has come in 1st – again. * Goldman Sachs is often described as the best managed Wall Street firm. Is that true? Yes, it is true. Goldman Sachs is the best managed “Wall Street” firm – and the best led. Management is why Goldman Sachs is consistently rated the best firm to work for and gets top ratings from clients all over the world. Superior management is why the firm earns more profit, develops more effective people, has made itself the market leader in the U.S., U.K, Germany, France, China, Japan, and in most major lines of banking business. No other firm comes close. One of the things you will learn in The Partnership is just how Goldman succeeded in making themselves different from any other Wall Street firm. They learned early on that in order to survive, they had to not only make money, but create a culture that was universal, that demanded absolutely loyalty and, most importantly, act as one organism. * Why does Goldman Sachs put so much weight on its “culture”? Goldman Sachs culture works. In the complex, fast-changing, global, 24/7 securities business almost all the important decisions are made in highly specific and complex settings under great time pressure. These decisions cannot be made by headquarters and they cannot be deferred. They must be made locally by local market and business experts thousands of times every day. Rules won’t work. If rules were written for every type of decision in all those different businesses in all the world’s different markets in all the different cultures, the resulting Rule Book would be far too large and complex to read or use. Culture – its way of working – is the universal “stem cell” that enables Goldman Sachs to operate so forcefully in so many different national markets and in so many different businesses. * With all its different business activities all over the world, doesn’t Goldman Sachs have problems with conflicts of interest? Yes! The firm certainly has many, many conflicts of interest. While it could take a defensive approach and try to avoid or minimize those risks of conflicts, the firm believes the more realistic and effective approach is to recognize those risks, be candid about them with clients and counterparties, and actively manage the conflicts. The firm strives to deal with each of them in such thoughtful and effective ways that clients and customers will know Goldman Sachs can be trusted to manage conflicts better than any other firm. This is, of course, an assumption of enormous responsibility – particularly on the scale on which Goldman Sachs operates – so it raises the obvious next question: Who will watch the watcher?

    Thing 4: The washing machine has changed the world more than the Internet. Thing 5: Assume the worst about people, and you get the worst. Thing 13: Making rich people richer doesn't make the rest of us richer.If you've wondered how we did not see the economic collapse coming, Ha-Joon Chang knows the answer: We didn't ask what they didn't tell us about capitalism. This is a lighthearted book with a serious purpose: to question the assumptions behind the dogma and sheer hype that the dominant school of neoliberal economists-the apostles of the freemarket-have spun since the Age of Reagan.Chang, the author of the international bestseller Bad Samaritans, is one of the world's most respected economists, a voice of sanity-and wit-in the tradition of John Kenneth Galbraith and Joseph Stiglitz. 23 Things They Don't Tell You About Capitalism equips readers with an understanding of how global capitalism works-and doesn't. In his final chapter, "How to Rebuild the World," Chang offers a vision of how we can shape capitalism to humane ends, instead of becoming slaves of the market.Ha-Joon Chang teaches in the Faculty of Economics at the University of Cambridge. His books include the bestselling Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism. His Kicking Away the Ladder received the 2003 Myrdal Prize, and, in 2005, Chang was awarded the Leontief Prize for Advancing the Frontiers of Economic Thought.

    It examines economic policies not simply in terms of their immediate effects but also in terms of their later repercussions, which are often very different and longer lasting. The interplay of politics with economics is another theme of Applied Economics, whose examples are drawn from experiences around the world, showing how similar incentives and constraints tend to produce similar outcomes among very disparate peoples and cultures.

     The book shows how investors Warren Buffett, Carl Icahn, David Einhorn and Dan Loeb got started and how they do it. Carlisle combines engaging stories with research and data to show how you can do it too. Written by an active value investor, The Acquirer’s Multiple provides an insider's view on deep value investing. The Acquirer’s Multiple covers: How the billionaire contrarians invest How Warren Buffett got started The history of activist hedge funds How to Beat the Little Book That Beats the Market A simple way to value stocks: The Acquirer's Multiple The secret to beating the market How Carl Icahn got started How David Einhorn and Dan Loeb got started The 9 rules of deep value The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market provides a simple summary of the way deep value investors find stocks that beat the market.

    I only wish I had this book by my side throughout my career."" -- Byron R. Wien, Vice Chairman, Blackstone Advisory Partners LP""Given the fast pace and high-pressure nature of the markets, analysts don't have the luxury to make mistakes. James J. Valentine's Best Practices for Equity Research Analysts should be required reading for all new and experienced analysts, particularly those who were not lucky enough to be brought up in the business under a mentor. Valentine can be that mentor."" -- Jami Rubin, Managing Director, Global Investment Research, Goldman Sachs""Jim's book is an excellent window into the world of securities research. Very few works cover the complete life cycle of an analyst and the necessary balance between theory and practice. This is one of them."" -- Juan-Luis Perez, Global Director of Research, Morgan Stanley""Valentine's book doesn t rehash the basics of finance but covers all the nonacademic topics in terms of how the analysts should manage their time, resources, data, and contacts in order to come up with the best stock picks. This book is required reading for beginning analysts and a must-read for all analysts who want to develop an edge."" -- Carl Schweser, Founder of Schweser s Study Program for the CFA Exam""Best Practices for Equity Research Analysts is by far the best written and most comprehensive book that I have read on how to become a top-notch analyst. I shouldn't be surprised; it was written by one of the best analysts that Wall Street has ever seen. Every securities firm should require their analysts to read this book."" -- Eli Salzmann, Portfolio ManagerMost equity research analysts learn their trade on the job by apprenticing under a senior analyst. However, equity analysts who work for senior producers often have little time or incentive to train new hires, and those who do have the time may not have research skills worth emulating.Now, "Best Practices for Equity Research Analysts" offers promising equity research analysts a practical curriculum for mastering their profession. James J. Valentine, a former Morgan Stanley analyst, explains everything today's competitive analyst needs to know, providing practical training materials for buyand sell-side research analysis in the United States and globally.Conveniently organized for use as a learning tool and everyday reference on the job, "Best Practices for Equity Research Analysts" covers the five primary areas of the equity research analyst's role: Identifying and monitoring critical factors Creating and updating financial forecasts Deriving price targets or a range of targets Making stock recommendations Communicating stock ideasExpanding upon material covered in undergraduate courses but written specifically to help you perform in the real world, this authoritative book gives you access to the wisdom and expertise of leading professionals in the field. You'll learn best practices for setting up an information hub, influencing others, identifying the critical factors and information sources for better forecasting, creating a better set of financial forecast scenarios, improving valuation and stock-picking techniques, communicating your message effectively, making ethical decisions, and more.Without "Best Practices for Equity Research Analysts," you're just treading water in the sink-or-swim world of the equity analyst."

    government's credit? I mean, if the U.S. defaults, "what bank" is going to be able to make good on that contract? Who are you going to buy that contract from, the Martians? n+1: When does this begin to feel like less of a cyclical thing, like the weather, and more of a permanent, end-of-the-world kind of thing? HFM: When you see me selling apples out on the street, that's when you should go stock up on guns and ammunition.

    In this absorbing, surprising, and undeniably compelling book, forensics expert Emily Craig tells her own story of a life spent teasing secrets from the dead.Emily Craig has been a witness to history, helping to seek justice for thousands of murder victims, both famous and unknown. It's a personal story that you won't soon forget.Emily first became intrigued by forensics work when, as a respected medical illustrator, she was called in by the local police to create a model of a murder victim's face. Her fascination with that case led to a dramatic midlife career change: She would go back to school to become a forensic anthropologist——and one of the most respected and best-known "bone hunters" in the nation.As a student working with the FBI in Waco, Emily helped uncover definitive proof that many of the Branch Davidians had been shot to death before the fire, including their leader, David Koresh, whose bullet-pierced skull she reconstructed with her own hands. Upon graduation, Emily landed a prestigious full-time job as forensic anthropologist for the Commonwealth of Kentucky, a state with an alarmingly high murder rate and thousands of square miles of rural backcountry, where bodies are dumped and discovered on a regular basis. But even with her work there, Emily has been regularly called to investigations across the country, including the site of terrorist attack on the the Murrah Building in Oklahoma City, where a mysterious body part——a dismembered leg——was found at the scene and did not match any of the known victims. Through careful scientific analysis, Emily was able to help identify the leg's owner, a pivotal piece of evidence that helped convict Timothy McVeigh.In September 2001, Emily recieved a phone call summoning her to New York City, where she directed the night-shift triage at the World Trade Centre's body identification site, collaborating with forensics experts from all over the country to collect and identify the remains of September 11 victims.From the biggest new stories of our time to stranger-than-true local mysteries, these are unforgettable stories from the case files of Emily Craig's remarkable career.

    What started as a bet about whether great traders were born or made became a legendary trading experiment that, until now, has never been told in its entirety.Way of the Turtle reveals, for the first time, the reasons for the success of the secretive trading system used by the group known as the "Turtles." Top-earning Turtle Curtis Faith lays bare the entire experiment, explaining how it was possible for Dennis and Eckhardt to recruit 23 ordinary people from all walks of life and train them to be extraordinary traders in just two weeks.Only nineteen years old at the time-the youngest Turtle by far-Faith traded the largest account, making more than $30 million in just over four years. He takes you behind the scenes of the Turtle selection process and behind closed doors where the Turtles learned the lucrative trading strategies that enabled them to earn an average return of over 80 percent per year and profits of more than $100 million. You'll discoverHow the Turtles made money-the principles that guided their trading and the step-by-step methods they followedWhy, even though they used the same approach, some Turtles were more successful than othersHow to look beyond the rules as the Turtles implemented them to find core strategies that work for any tradable marketHow to apply the Turtle Way to your own trades-and in your own lifeWays to diversify your trading and limit your exposure to riskOffering his unique perspective on the experience, Faith explains why the Turtle Way works in modern markets, and shares hard-earned wisdom on taking risks, choosing your own path, and learning from your mistakes.

    organized crime for a bloody half century, there was the one-fingered criminal genius Giuseppe Morello–known as “The Clutch Hand”–and his lethal coterie of associates. In The First Family, historian, journalist, and New York Times bestselling author Mike Dash brings to life this little-known story, following the rise of the Mafia in America from the 1890s to the 1920s, from the lawless villages of Sicily to the streets of Little Italy. Using an impressive array of primary sources–hitherto untapped Secret Service archives, prison records, trial transcripts, and interviews with surviving family members–this is the first Mafia history that applies scholarly rigor to the story of the Morello syndicate and the birth of organized crime on these shores.Progressing from small-time scams to counterfeiting rings to even bigger criminal enterprises, Giuseppe Morello exerted ruthless control of Italian neighborhoods in New York, and through adroit coordination with other Sicilian crime families, his Clutch Hand soon reached far beyond the Hudson River.The men who battled Morello’s crews were themselves colorful and legendary figures, including William Flynn, a fearless Secret Service agent, and Lieutenant Detective Giuseppe “Joe” Petrosino of the New York Police Department’s elite Italian Squad, whose pursuit of the brutal gangs ultimately cost him his life. Combining first-rate scholarship and pulse-quickening action, and set amid rustic Sicilian landscapes and the streets of old New York, The First Family is a groundbreaking account of the crucial period when the American criminal underworld exploded with violent fury across the nation.

    Now, read the true story of one man's attempt to get inside the mind of the Green River Killer July 15, 1982: a woman's strangled body was found, caught on the pilings of Washington state's Green River. Before long, the "Green River Killer" would be suspected in at least forty-nine more homicides, with no end in sight. Then the authorities received an unbelievable letter from the infamous serial killer Ted Bundy -- then on Florida's death row -- offering to help catch the Green River Killer. But he would only talk to one man: Robert Keppel, the former homicide detective who had helped track Bundy's cross-county killing spree. Now these conversations are revealed, in which Bundy speculates about the motive and methods of the Green River Killer -- and reveals his own twisted secrets as well. Now, as never before, we look into the face of evil...and into the heart of a killer.

    And her profile has only risen since the election ended in favor of the other guy. What makes Meghan so appealing? As a new role model for young, creative, and vocal members of the GOP, she's unafraid to mix it up and speak her mind. In Dirty Sexy Politics she takes a hard look at the future of her party. She doesn't shy away from serious issues and her raucous humor and down-to-earth style keep her positions accessible. In this witty, candid, and boisterous book, Meghan takes us deep behind the scenes of the campaign trail. She steals campaign signs in New Hampshire, tastes the nightlife in Nashville, and has a strange encounter with Laura and Jenna Bush at the White House. Along the way, she falls in love with America—while seeing how far the Republican Party has veered from its core values of freedom, honesty, and individuality. In Dirty Sexy Politics, Meghan McCain gives us a true insider's account of life on a campaign trail.

    Where they align is in their belief that the market is beatable. This book seeks to take the best aspects of value investing and quantitative investing as disciplines and apply them to a completely unique approach to stock selection. Such an approach has several advantages over pure value or pure quantitative investing. This new investing strategy framed by the book is known as quantitative value, a superior, market-beating method to investing in stocks.Quantitative Value provides practical insights into an investment strategy that links the fundamental value investing philosophy of Warren Buffett with the quantitative value approach of Ed Thorp. It skillfully combines the best of Buffett and Ed Thorp--weaving their investment philosophies into a winning, market-beating investment strategy.First book to outline quantitative value strategies as they are practiced by actual market practitioners of the discipline Melds the probabilities and statistics used by quants such as Ed Thorp with the fundamental approaches to value investing as practiced by Warren Buffett and other leading value investors A companion Website contains supplementary material that allows you to learn in a hands-on fashion long after closing the book If you're looking to make the most of your time in today's markets, look no further than Quantitative Value.

    financial system, which had grown far too complex for its own good-and too unregulated for the public good-experienced a perfect storm beginning in 2007. When America's financial structure crumbled, the damage proved to be not only deep, but wide. It took the crisis for the world to discover, to its horror, just how truly interconnected-and fragile-the global financial system is. The second part of the story explains how American and international government intervention kept us from a total meltdown. Many of the U.S. government's actions, particularly the Fed's, were previously unimaginable. And to an amazing-and certainly misunderstood-extent, they worked. The worst did not happen. Blinder offers clear-eyed answers to the questions still before us, even if some of the choices ahead are as divisive as they are unavoidable. After the Music Stopped is an essential history that we cannot afford to forget, because one thing history teaches is that it will happen here again.

    -- JACK SCHWAGER, bestselling author of Stock Market WizardsMark's book has to be on every investor's bookshelf. It is about the most comprehensive work I have ever read on investing in growth stocks. -- DAVID RYAN, three-time U.S. Investing Champion[Minervini is] one of the most highly respected independent traders of our generation. His experience and past history of savvy market calls is legendary. -- CHARLES KIRK, The Kirk ReportOne of Wall Street's most remarkable success stories. -- BEN POWER, Your Trading EdgeTHE INVESTOR'S GUIDE TO SUPERPERFORMANCE! Dramatically increase your stock market returns with the legendary SEPA system!For the first time ever, U.S. Investing Champion Mark Minervini reveals the proven, time-tested trading system he used to achieve triple-digit returns for five consecutive years, averaging 220% per year for a 33,500% compounded total return.In Trade Like a Stock Market Wizard, Minervini unveils his trademarked stock market method SEPA, which provides outsized returns in virtually every market by combining careful risk management, self-analysis, and perseverance. He explains in detail how to select precise entry points and preserve capital--for consistent triple- digit returns.Whether you're just getting started in the stock market or you're a seasoned pro, Minervini will show how you how to achieve SUPERPERFORMANCE! You'll gain valuable knowledge as he shares lessons, trading truths, and specific tactics--all derived from his 30-year career as one of America's most successful stock traders.Trade Like a Stock Market Wizard teaches you:How to find the best stocks before they make big price gainsHow to avoid costly mistakes made by most investorsHow to manage losses and protect profitsHow to avoid high-risk situationsPrecisely when to buy and when to sellHow to buy an IPOWhy traditional valuation doesn't work for fast-growing SuperperformersExamples of Minervini's personal trades with his commentsWith more than 160 chart examples and numerous case studies proving the remarkable effectiveness of Minervini's methodology, Trade Like a Stock Market Wizard puts in your hands one of the most effective and--until now--secretive stock investing systems in the world.MARK MINERVINI has a trademarked stock market method that produces outsized returns in virtually every market. It's called Specific Entry Point Analysis--SEPA--and it has been proven effective for selecting precise entry points, preserving capital and profi ts with even more precise exit points--and consistently producing triple-digit returns.Now, in Trade Like a Stock Market Wizard, Minervini shares--for the fi rst time ever--his coveted methodology with investors like you!

    and remarkable powers of concentration, Bobby memorized hundreds of chess books in several languages, and he was only 13 when he became the youngest chess master in U.S. history.   But his strange behavior started early.  In 1972, at the historic Cold War showdown in Reykjavik, Iceland, where he faced Soviet champion Boris Spassky, Fischer made headlines with hundreds of petty demands that nearly ended the competition.  It was merely a prelude to what was to come. Arriving back in the United States to a hero’s welcome, Bobby was mobbed wherever he went—a figure as exotic and improbable as any American pop culture had yet produced.  No player of a mere “board game” had ever ascended to such heights.  Commercial sponsorship offers poured in, ultimately topping $10 million—but Bobby demurred.  Instead, he began tithing his limited money to an apocalyptic religion and devouring anti-Semitic literature.   After years of poverty and a stint living on Los Angeles’ Skid Row, Bobby remerged in 1992 to play Spassky in a multi-million dollar rematch—but the experience only deepened a paranoia that had formed years earlier when he came to believe that the Soviets wanted him dead for taking away “their” title.  When the dust settled, Bobby was a wanted man—transformed into an international fugitive because of his decision to play in Montenegro despite U.S. sanctions.  Fearing for his life, traveling with bodyguards, and wearing a long leather coat to ward off knife attacks, Bobby lived the life of a celebrity fugitive – one drawn increasingly to the bizarre.  Mafiosi, Nazis, odd attempts to breed an heir who could perpetuate his chess-genius DNA—all are woven into his late-life tapestry.  And yet, as Brady shows, the most notable irony of Bobby Fischer’s strange descent – which had reached full plummet by 2005 when he turned down yet another multi-million dollar payday—is that despite his incomprehensible behavior, there were many who remained fiercely loyal to him.  Why that was so is at least partly the subject of this book—one that at last answers the question: “Who was Bobby Fischer?”