Book picks similar to
King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone by David Carey
business
finance
non-fiction
investing
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.
Who Says Elephants Can't Dance?: Inside IBM's Historic Turnaround
Louis V. Gerstner Jr. - 2002
By 1993, the computer industry had changed so rapidly the company was on its way to losing $16 billion and IBM was on a watch list for extinction -- victimized by its own lumbering size, an insular corporate culture, and the PC era IBM had itself helped invent.Then Lou Gerstner was brought in to run IBM. Almost everyone watching the rapid demise of this American icon presumed Gerstner had joined IBM to preside over its continued dissolution into a confederation of autonomous business units. This strategy, well underway when he arrived, would have effectively eliminated the corporation that had invented many of the industry's most important technologies.Instead, Gerstner took hold of the company and demanded the managers work together to re-establish IBM's mission as a customer-focused provider of computing solutions. Moving ahead of his critics, Gerstner made the hold decision to keep the company together, slash prices on his core product to keep the company competitive, and almost defiantly announced, "The last thing IBM needs right now is a vision."Who Says Elephants Can't Dance? tells the story of IBM's competitive and cultural transformation. In his own words, Gerstner offers a blow-by-blow account of his arrival at the company and his campaign to rebuild the leadership team and give the workforce a renewed sense of purpose. In the process, Gerstner defined a strategy for the computing giant and remade the ossified culture bred by the company's own success.The first-hand story of an extraordinary turnaround, a unique case study in managing a crisis, and a thoughtful reflection on the computer industry and the principles of leadership, Who Says Elephants Can't Dance? sums up Lou Gerstner's historic business achievement. Taking readers deep into the world of IBM's CEO, Gerstner recounts the high-level meetings and explains the pressure-filled, no-turning-back decisions that had to be made. He also offers his hard-won conclusions about the essence of what makes a great company run.In the history of modern business, many companies have gone from being industry leaders to the verge of extinction. Through the heroic efforts of a new management team, some of those companies have even succeeded in resuscitating themselves and living on in the shadow of their former stature. But only one company has been at the pinnacle of an industry, fallen to near collapse, and then, beyond anyone's expectations, returned to set the agenda. That company is IBM.Lou Gerstener, Jr., served as chairman and chief executive officer of IBM from April 1993 to March 2002, when he retired as CEO. He remained chairman of the board through the end of 2002. Before joining IBM, Mr. Gerstner served for four years as chairman and CEO of RJR Nabisco, Inc. This was preceded by an eleven-year career at the American Express Company, where he was president of the parent company and chairman and CEO of its largest subsidiary. Prior to that, Mr. Gerstner was a director of the management consulting firm of McKinsey & Co., Inc. He received a bachelor's degree in engineering from Dartmouth College and an MBA from Harvard Business School.
Charlie Munger: The Complete Investor
Tren Griffin - 2015
His notion of "elementary, worldly wisdom"--a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management--allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment.Munger's system has steered his investments for forty years and has guided generations of successful investors. This book presents the essential steps of Munger's investing strategy, condensed here for the first time from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham's value-investing system, Munger's approach is straightforward enough that ordinary investors can apply it to their portfolios. This book is not simply about investing. It is about cultivating mental models for your whole life, but especially for your investments.
No One Would Listen
Harry Markopolos - 2010
The only book to tell the story of Madoff's scam and the SEC's failings by those who saw both first hand
Describes how Madoff was enabled by investors and fiduciaries alike
Discusses how the SEC missed the red flags raised by Markopolos
Despite repeated written and verbal warnings to the SEC by Harry Markopolos, Bernie Madoff was allowed to continue his operations. No One Would Listen paints a vivid portrait of Markopolos and his determined team of financial sleuths, and what impact Madoff's scam will have on financial markets and regulation for decades to come.
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.
The Millionaire Real Estate Investor
Gary Keller - 2005
It's filled with practical, workable advice for anyone wanting to build wealth."--Mike Summey, co-author of the bestselling The Weekend Millionaire's Secrets to Investing in Real EstateAnyone who seeks financial wealth must first learn the fundamental truths and models that drive it. The Millionaire Real Estate Investor represents the collected wisdom and experience of over 100 millionaire investors from all walks of life who pursued financial wealth and achieved the life-changing freedom it delivers. This book--in straightforward, no nonsense, easy-to-read style--reveals their proven strategies.The Millionaire Real Estate Investor is your handbook to the tried and true financial wealth building vehicle that rewards patience and perseverance and is available to all--real estate. You'll learn:Myths about money and investing that hold people back and how to develop the mindset of a millionaire investorHow to develop sound criteria for identifying great real estate investment opportunitiesHow to zero in on the key terms of any transaction and achieve the best possible dealsHow to develop the dream team that will help you build your millionaire investment businessProven models and strategies millionaire investors use to track their net worth, understand their finances, build their network, lead generate for properties and acquire themThe Millionaire Real Estate Investor is about you and your money. It's about your financial potential. It's about discovering the millionaire investor in you.
The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould and J.P. Morgan Invented the American Supereconomy
Charles R. Morris - 2005
Rockefeller, Jay Gould, and J. P. Morgan. They were the giants of the Gilded Age, a moment of riotous growth that established America as the richest, most inventive, and most productive country on the planet.Acclaimed author Charles R. Morris vividly brings the men and their times to life. The ruthlessly competitive Carnegie, the imperial Rockefeller, and the provocateur Gould were obsessed with progress, experiment, and speed. They were balanced by Morgan, the gentleman businessman, who fought, instead, for a global trust in American business. Through their antagonism and their verve, they built an industrial behemoth—and a country of middle-class consumers. The Tycoons tells the incredible story of how these four determined men wrenched the economy into the modern age, inventing a nation of full economic participation that could not have been imagined only a few decades earlier.
Keynes Hayek: The Clash that Defined Modern Economics
Nicholas Wapshott - 2011
John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision.From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.
Crash of the Titans: Greed, Hubris, the Fall of Merrill Lynch, and the Near-Collapse of Bank of America
Greg Farrell - 2010
The exception was Merrill Lynch, a firm that revolutionized the stock market by bringing Wall Street to Main Street, setting up offices in far-flung cities and towns long ignored by the giants of finance. With its "thundering herd" of financial advisers, perhaps no other business, whether in financial services or elsewhere, so epitomized the American spirit. Merrill Lynch was not only "bullish on America," it was a big reason why so many average Americans were able to grow wealthy by investing in the stock market. Merrill Lynch was an icon. Its sudden decline, collapse, and sale to Bank of America was a shock. How did it happen? Why did it happen? And what does this story of greed, hubris, and incompetence tell us about the culture of Wall Street that continues to this day even though it came close to destroying the American economy? A culture in which the CEO of a firm losing $28 billion pushes hard to be paid a $25 million bonus. A culture in which two Merrill Lynch executives are guaranteed bonuses of $30 million and $40 million for four months' work, even while the firm is struggling to reduce its losses by firing thousands of employees. Based on unparalleled sources at both Merrill Lynch and Bank of America, Greg Farrell's "Crash of the Titans" is a Shakespearean saga of three flawed masters of the universe. E. Stanley O'Neal, whose inspiring rise from the segregated South to the corner office of Merrill Lynch--where he engineered a successful turnaround--was undone by his belief that a smooth-talking salesman could handle one of the most difficult jobs on Wall Street. Because he enjoyed O'Neal's support, this executive was allowed to build up an astonishing $30 billion position in CDOs on the firm's balance sheet, at a time when all other Wall Street firms were desperately trying to exit the business. After O'Neal comes John Thain, the cerebral, MIT-educated technocrat whose rescue of the New York Stock Exchange earned him the nickname "Super Thain." He was hired to save Merrill Lynch in late 2007, but his belief that the markets would rebound led him to underestimate the depth of Merrill's problems. Finally, we meet Bank of America CEO Ken Lewis, a street fighter raised barely above the poverty line in rural Georgia, whose "my way or the highway" management style suffers fools more easily than potential rivals, and who made a $50 billion commitment over a September weekend to buy a business he really didn't understand, thus jeopardizing his own institution. The merger itself turns out to be a bizarre combination of cultures that blend like oil and water, where slick Wall Street bankers suddenly find themselves reporting to a cast of characters straight out of the "Beverly Hillbillies." BofA's inbred culture, which perceived New York banks its enemies, was based on loyalty and a good-ol'-boy network in which competence played second fiddle to blind obedience."Crash of the Titans" is a financial thriller that puts you in the theater as the historic events of the financial crisis unfold and people responsible for billion of dollars of other people's money gamble recklessly to enhance their power and their paychecks or to save their own skins. Its wealth of never-before-revealed information and focus on two icons of corporate America make it the book that puts together all the pieces of the Wall Street disaster.
The Ten-Day MBA : A Step-By-Step Guide To Mastering The Skills Taught In America's Top Business Schools
Steven Silbiger - 1993
Features chapters on finance, marketing, accounting, strategy, quantitative analysis, operations, economics, organisational behaviour, and ethics, all revised to reflect the contemporary corporate culture and economic climate.
Alibaba: The House That Jack Ma Built
Duncan Clark - 2016
Alibaba’s $25 billion IPO in 2014 was the largest global IPO ever. A Rockefeller of his age who is courted by CEOs and Presidents around the world, Jack is an icon for China’s booming private sector and the gatekeeper to hundreds of millions of middle class consumers.Duncan Clark first met Jack in 1999 in the small apartment where Jack founded Alibaba. Granted unprecedented access to a wealth of new material including exclusive interviews, Clark draws on his own experience as an early advisor to Alibaba and two decades in China chronicling the Internet’s impact on the country to create an authoritative, compelling narrative account of Alibaba’s rise.How did Jack overcome his humble origins and early failures to achieve massive success with Alibaba? How did he outsmart rival entrepreneurs from China and Silicon Valley? Can Alibaba maintain its 80% market share? As it forges ahead into finance and entertainment, are there limits to Alibaba’s ambitions? How does the Chinese government view its rise? Will Alibaba expand further overseas, including in the U.S.?Clark tells Alibaba’s tale in the context of China’s momentous economic and social changes, illuminating an unlikely corporate titan as never before.
Super Pumped: The Battle for Uber
Mike Isaac - 2019
Uber had catapulted to the top of the tech world, yet for many came to symbolize everything wrong with Silicon Valley.Award-winning New York Times technology correspondent Mike Isaac’s Super Pumped presents the dramatic rise and fall of Uber, set against an era of rapid upheaval in Silicon Valley. Backed by billions in venture capital dollars and led by a brash and ambitious founder, Uber promised to revolutionize the way we move people and goods through the world. A near instant “unicorn,” Uber seemed poised to take its place next to Amazon, Apple, and Google as a technology giant.What followed would become a corporate cautionary tale about the perils of startup culture and a vivid example of how blind worship of startup founders can go wildly wrong. Isaac recounts Uber’s pitched battles with taxi unions and drivers, the company’s toxic internal culture, and the bare-knuckle tactics it devised to overcome obstacles in its quest for dominance. With billions of dollars at stake, Isaac shows how venture capitalists asserted their power and seized control of the startup as it fought its way toward its fateful IPO.Based on hundreds of interviews with current and former Uber employees, along with previously unpublished documents, Super Pumped is a page-turning story of ambition and deception, obscene wealth, and bad behavior that explores how blistering technological and financial innovation culminated in one of the most catastrophic twelve-month periods in American corporate history.
Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork
Reeves Wiedeman - 2020
Adam Neumann, an immigrant determined to make his fortune in the United States, landed on the idea of repurposing surplus New York office space for the burgeoning freelance class. Over the course of ten years, WeWork attracted billions of dollars from some of the most sought-after investors in the world, while spending it to build a global real estate empire that he insisted was much more than that: an organization that aspired to nothing less than "elevating the world's consciousness."Moving between New York real estate, Silicon Valley venture capital, and the very specific force field of spirituality and ambition erected by Adam Neumann himself, Billion Dollar Loser lays bare the internal drama inside WeWork. Based on more than two hundred interviews, this book chronicles the breakneck speed at which WeWork’s CEO built and grew his company along with Neumann’s relationship to a world of investors, including Masayoshi Son of Softbank, who fueled its chaotic expansion into everything from apartment buildings to elementary schools.Culminating in a day-by-day account of the five weeks leading up to WeWork’s botched IPO and Neumann’s dramatic ouster, Wiedeman exposes the story of the company’s desperate attempt to secure the funding it needed in the final moments of a decade defined by excess. Billion Dollar Loser is the first book to indelibly capture the highly leveraged, all-blue-sky world of American business in President Trump’s first term, and also offers a sober reckoning with its fallout as a new era begins.
My Life as a Quant: Reflections on Physics and Finance
Emanuel Derman - 2004
Page by page, Derman details his adventures in this field--analyzing the incompatible personas of traders and quants, and discussing the dissimilar nature of knowledge in physics and finance. Throughout this tale, he also reflects on the appropriate way to apply the refined methods of physics to the hurly-burly world of markets.
Hatching Twitter: A True Story of Money, Power, Friendship, and Betrayal
Nick Bilton - 2013
In barely six years, a small group of young, ambitious programmers in Silicon Valley built an $11.5 billion business out of the ashes of a failed podcasting company. Today Twitter boasts more than 200 million active users and has affected business, politics, media, and other fields in innumerable ways. Now Nick Bilton of the New York Times takes readers behind the scenes with a narrative that shows what happened inside Twitter as it grew at exponential speeds. This is a tale of betrayed friendships and high-stakes power struggles as the four founders—Biz Stone, Evan Williams, Jack Dorsey, and Noah Glass—went from everyday engineers to wealthy celebrities, featured on magazine covers, Oprah, The Daily Show, and Time’s list of the world’s most influential people. Bilton’s exclusive access and exhaustive investigative reporting—drawing on hundreds of sources, documents, and internal e-mails—have enabled him to write an intimate portrait of fame, influence, and power. He also captures the zeitgeist and global influence of Twitter, which has been used to help overthrow governments in the Middle East and disrupt the very fabric of the way people communicate.