Business Adventures


John Brooks - 1969
    What do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common? Each is an example of how an iconic company was defined by a particular moment of fame or notoriety. These notable and fascinating accounts are as relevant today to understanding the intricacies of corporate life as they were when the events happened.Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. John Brooks’s insightful reportage is so full of personality and critical detail that whether he is looking at the astounding market crash of 1962, the collapse of a well-known brokerage firm, or the bold attempt by American bankers to save the British pound, one gets the sense that history really does repeat itself.

Street Smarts: Adventures on the Road and in the Markets


Jim Rogers - 2013
    Rogers always had a restless curiosity to experience and understand the world around him.  In Street Smarts, he takes us through the highlights of his life in the financial markets, from his school days at Yale and Oxford --  where despite the fact that he didn’t have enough money to afford the appropriate pair of shoes, he coxed the crew and helped to win the Oxford-Cambridge Boat Race as well as the Thames Cup, the first of his three Guiness World Records -- to his first heady taste of Wall Street in the mid - 1960s, and his years helping to run the most successful hedge fund on Wall Street.  As a result of his extraordinary success with the Quantum Fund, Rogers was able to retire at the age of thirty-seven.  Since then he has taught classes in finance at Columbia University, hosted television programs, and traveled the world seeing firsthand how revolutions in Chile affect coffee prices in Seattle, and how shortages of  copper in Africa affect electricity brownouts in Ohio.   In the course of his new book, Rogers offers often surprising observations on how the  world works – and what trends he sees in the future.  He explains why Asia will be the dominant economic force in the twenty-first century – and how he and his wife and two daughters moved to Singapore to prepare his family for the coming changes..  He discusses why America and the European Union are in decline, and what we need to do to right our economy and society.  The age of Wall Street, Rogers claims, when the finance industry drove 25% of America’s growth, is over.  Tomorrow’s economy will be driven by those who make things – food, energy, goods and consumables.  Regarded as one of the most astute investors Wall Street has ever known, Jim Rogers once again is at his acerbic and storytelling best.

Confidence Men: Wall Street, Washington, and the Education of a President


Ron Suskind - 2011
    Suskind moves from the frenzied trading floors of lower Manhattan to the power corridors inside the Beltway and introduces a larger than life cast of politicians and advisors, titans of high finance, reformers, lobbyists, and others who faced a crisis unlike anything they had ever imagined. Based on hundreds of hours of interviews and exhaustive research, filled with piercing insight and startling disclosures, Confidence Men goes beyond the headlines and previous accounts, bringing into focus the unprecedented struggle between the nation's two capitals; New York and Washington, one of private gain, the other of public purpose;that continues to divide and roil America.

Red Notice: A True Story of High Finance, Murder, and One Man's Fight for Justice


Bill BrowderBill Browder - 2014
    It continued in Moscow, where Browder made his fortune heading the largest investment fund in Russia after the Soviet Union's collapse. But when he exposed the corrupt oligarchs who were robbing the companies in which he was investing, Vladimir Putin turned on him and, in 2005, had him expelled from Russia. In 2007, a group of law enforcement officers raided Browder's offices in Moscow and stole $230 million of taxes that his fund's companies had paid to the Russian government. Browder's attorney Sergei Magnitsky investigated the incident and uncovered a sprawling criminal enterprise. A month after Sergei testified against the officials involved, he was arrested and thrown into pre-trial detention, where he was tortured for a year. On November 16, 2009, he was led to an isolation chamber, handcuffed to a bedrail, and beaten to death by eight guards in full riot gear. Browder glimpsed the heart of darkness, and it transformed his life: he embarked on an unrelenting quest for justice in Sergei's name, exposing the towering cover-up that leads right up to Putin. A financial caper, a crime thriller, and a political crusade, Red Notice is the story of one man taking on overpowering odds to change the world.

The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources


Javier Blas - 2020
    But we should.In The World for Sale, two leading journalists lift the lid on one of the least scrutinised corners of the economy: the workings of the billionaire commodity traders who buy, hoard and sell the earth's resources.It is the story of how a handful of swashbuckling businessmen became indispensable cogs in global markets: enabling an enormous expansion in international trade, and connecting resource-rich countries - no matter how corrupt or war-torn - with the world's financial centres.And it is the story of how some traders acquired untold political power, right under the noses of Western regulators and politicians - helping Saddam Hussein to sell his oil, fuelling the Libyan rebel army during the Arab Spring, and funnelling cash to Vladimir Putin's Kremlin in spite of strict sanctions.The result is an eye-opening tour through the wildest frontiers of the global economy, as well as a revelatory guide to how capitalism really works.__________________________'This jaw-dropping study shows how much money and global influence is concentrated in the hands of a tiny group . . . A remarkable book . . . As the authors roam from oilfield to wheatfield, they reveal information so staggering you almost gasp.' SUNDAY TIMES 'Rollicking yarns from the biggest ever commodity boom . . . The high level narrative is gripping enough. But it is the details of what these freewheeling companies actually got up to that give the book a thriller-like quality . . . Educational and entertaining.' FINANCIAL TIMES 'A fascinating and revealing story . . . There are tales in the book of breathtaking trades, such as shipments of rebel oil from war-torn Libya or deals bartered amid the brutal "aluminium wars" in the Russia of the 1990s.' ECONOMIST 'A globe-spanning corporate thriller, full of intrigue and double dealing . . . Changes how we see the world, often in horrifying ways . . . New insights and reporting mean that even seasoned observers will be amazed.' SPECTATOR 'Javier Blas and Jack Farchy should be awaiting the call from Hollywood. The World for Sale contains at least half a dozen narrative threads that would form the basis of a good thriller. But the authors' main achievement is to subject the biggest commodity players, and their impact on the real world, to proper critical scrutiny.' REUTERS 'Blas and Farchy shine light on what's long been the financial markets' darkest corner - the crucial, yet underappreciated, role commodity traders play in global finance and geopolitics . . . The World For Sale is a fascinating, eye-opening read.' GREGORY ZUCKERMAN, author of The Man Who Solved the Market'The definitive, eye-opening story of the most powerful and secretive traders in the world.' BRADLEY HOPE, co-author of Billion Dollar Whale'If you have the slightest interest in how the modern world was made, by whom, at what price, and at what profit, this is the book for you . . . Superbly researched.' FOREIGN POLICY 'Javier Blas and Jack Farchy deftly peel back the curtain on the amoral swashbucklers of capitalism who trade in commodities . . . The World for Sale is a gripping account of how they achieved their stranglehold over the world economy, and their troubling influence on global politics.' BRAD STONE, author of The Everything Store'Some of the stories could be straight out of John Le Carré. The difference is they're true . . . Fascinating.' ANDREW NEIL

Americana: A 400-Year History of American Capitalism


Bhu Srinivasan - 2017
    Americana takes us on a four-hundred-year journey of this spirit of innovation and ambition through a series of Next Big Things -- the inventions, techniques, and industries that drove American history forward: from the telegraph, the railroad, guns, radio, and banking to flight, suburbia, and sneakers, culminating with the Internet and mobile technology at the turn of the twenty-first century. The result is a thrilling alternative history of modern America that reframes events, trends, and people we thought we knew through the prism of the value that, for better or for worse, this nation holds dearest: capitalism.In a winning, accessible style, Bhu Srinivasan boldly takes on four centuries of American enterprise, revealing the unexpected connections that link them. We learn how Andrew Carnegie's early job as a telegraph messenger boy paved the way for his leadership of the steel empire that would make him one of the nation's richest men; how the gunmaker Remington reinvented itself in the postwar years to sell typewriters; how the inner workings of the Mafia mirrored the trend of consolidation and regulation in more traditional business; and how a 1950s infrastructure bill triggered a series of events that produced one of America's most enduring brands: KFC. Reliving the heady early days of Silicon Valley, we are reminded that the start-up is an idea as old as America itself.Entertaining, eye-opening, and sweeping in its reach, Americana is an exhilarating new work of narrative history.

The Physics of Wall Street: A Brief History of Predicting the Unpredictable


James Owen Weatherall - 2013
    While many of the mathematicians and software engineers on Wall Street failed when their abstractions turned ugly in practice, a special breed of physicists has a much deeper history of revolutionizing finance. Taking us from fin-de-siècle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes on the Pacific coast, Weatherall shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles.The crisis was partly a failure of mathematical modeling. But even more, it was a failure of some very sophisticated financial institutions to think like physicists. Models—whether in science or finance—have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn’t understand their purpose, and didn’t care. It was a catastrophic misuse of science.The solution, however, is not to give up on models; it's to make them better. Weatherall reveals the people and ideas on the cusp of a new era in finance. We see a geophysicist use a model designed for earthquakes to predict a massive stock market crash. We discover a physicist-run hedge fund that earned 2,478.6% over the course of the 1990s. And we see how an obscure idea from quantum theory might soon be used to create a far more accurate Consumer Price Index.Both persuasive and accessible, The Physics of Wall Street is riveting history that will change how we think about our economic future.

Jack: Straight from the Gut


Jack Welch - 2001
    "Congratulations, Mr. Chairman", said Reg. It was a defining moment for American business. So begins the story of a self-made man and a self-described rebel who thrived in one of the most volatile and economically robust eras in U.S. history, while managing to maintain a unique leadership style. In what is the most anticipated book on business management for our time, Jack Welch surveys the landscape of his career running one of the world's largest and most successful corporations.

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.

Stocks for the Long Run


Jeremy J. Siegel - 1994
    Provides a portrait of the stock market with the strategies, tools, and techniques investors need to maintain their focus and achieve meaningful stock returns over time.

The Great Crash of 1929


John Kenneth Galbraith - 1954
    Galbraith's prose has grace and wit, and he distills a good deal of sardonic fun from the whopping errors of the nation's oracles and the wondrous antics of the financial community." Now, with the stock market riding historic highs, the celebrated economist returns with new insights on the legacy of our past and the consequences of blind optimism and power plays within the financial community.

Don't Fall for It: A Short History of Financial Scams


Ben Carlson - 2020
    Enron was forced to declare bankruptcy after allegations of massive accounting fraud, wiping out $78 billion in stock market value. Bernie Madoff, the largest individual fraudster in history, built a $65 billion Ponzi scheme that ultimately resulted in his being sentenced to 150 years in prison. People from all walks of life have been scammed out of their money: French and British nobility looking to get rich quickly, farmers looking for a miracle cure for their health ailments, several professional athletes, and some of Hollywood's biggest stars. No one is immune from getting deceived when money is involved. Don't Fall For It is a fascinating look into some of the biggest financial frauds and scams ever.This compelling book explores specific instances of financial fraud as well as some of the most successful charlatans and hucksters of all-time. Sharing lessons that apply to business, money management, and investing, author Ben Carlson answers questions such as: Why do even the most intelligent among us get taken advantage of in financial scams? What make fraudsters successful? Why is it often harder to stay rich than to get rich? Each chapter in examines different frauds, perpetrators, or victims of scams. These real-life stories include anecdotes about how these frauds were carried out and discussions of what can be learned from these events. This engaging book:Explores the business and financial lessons drawn from some of history's biggest frauds Describes the conditions under which fraud tends to work best Explains how people can avoid being scammed out of their money Suggests practical steps to reduce financial fraud in the future Don't Fall For It: A Short History of Financial Scams is filled with engrossing real-life stories and valuable insights, written for finance professionals, investors, and general interest readers alike.

The Economists' Hour: False Prophets, Free Markets, and the Fracture of Society


Binyamin Appelbaum - 2019
    In the four decades between 1969 and 2008, these economists played a leading role in reshaping taxation and public spending and clearing the way for globalization. They reshaped the government's approach to regulation, assigning a value to human life to determine which rules are worthwhile. Economists even convinced President Nixon to end military conscription.The United States was the epicenter of the intellectual ferment, but the embrace of markets was a global phenomenon, seizing the imagination of politicians in countries including the United Kingdom, Chile and New Zealand.This book is also a reckoning. The revolution failed to deliver on its central promise of increased prosperity. In the United States, growth has slowed in every successive decade since the 1960s. And the cost of the failure was steep. Policymakers traded well-paid jobs for low-cost electronics; the loss of work weakened the fabric of society and of democracy. Soaring inequality extends far beyond incomes: Life expectancy for less affluent Americans has declined in recent years. And the focus on efficiency has come at the expense of the future: Lower taxes instead of education and infrastructure; limited environmental regulation as oceans rise and California burns.

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.

Glass House: The 1% Economy and the Shattering of the All-American Town


Brian Alexander - 2017
    Today it is damaged, discouraged, and fighting for its future. In Glass House, journalist Brian Alexander uses the story of one town to show how seeds sown 35 years ago have sprouted to give us Trumpism, inequality, and an eroding national cohesion.The Anchor Hocking Glass Company, once the world’s largest maker of glass tableware, was the base on which Lancaster’s society was built. As Glass House unfolds, bankruptcy looms. With access to the company and its leaders, and Lancaster’s citizens, Alexander shows how financial engineering took hold in the 1980s, accelerated in the 21st Century, and wrecked the company. We follow CEO Sam Solomon as he tries to rescue the company from the New York private equity firm that hired him. Meanwhile, Alexander goes behind the scenes, entwined with the lives of residents as they wrestle with heroin, politics, high-interest lenders, low wage jobs, technology, and the new demands of American life: people like Brian Gossett, the fourth generation to work at Anchor Hocking; Joe Piccolo, first-time director of the annual music festival who discovers the town relies on him, and it, for salvation; Jason Roach, who police believed may have been Lancaster’s biggest drug dealer; and Eric Brown, a local football hero-turned-cop who comes to realize that he can never arrest Lancaster’s real problems.