I told her I'd wonder where the rest of my money went."--@GSElevatorOver the past three years, the notorious @GSElevator Twitter feed has offered a hilarious, shamelessly voyeuristic look into the real world of international finance. Hundreds of thousands followed the account, Goldman Sachs launched an internal investigation, and when the true identity of the man behind it all was revealed, it created a national media sensation--but that's only part of the story.Where @GSElevator captured the essence of the banking elite with curated jokes and submissions overheard by readers, Straight to hell adds John LeFevre's own story--an unapologetic and darkly funny account of a career as a globe-conquering investment banker spanning New York, London, and Hong Kong. Straight to Hell pulls back the curtain on a world that is both hated and envied, taking readers from the trading floors and roadshows to private planes and after-hours overindulgence. Full of shocking lawlessness, boyish antics, and win-at-all-costs schemes, this is the definitive take on the deviant, dysfunctional, and absolutely excessive world of finance.

    Valuation provides up-to-date insights and practical advice on how to create, manage, and measure an organization's value. Along with all-new case studies that illustrate how valuation techniques and principles are applied in real-world situations, this comprehensive guide has been updated to reflect the events of the Internet bubble and its effect on stock markets, new developments in academic finance, changes in accounting rules (both U. S. and IFRS), and an enhanced global perspective. This edition contains the solid framework that managers at all levels, investors, and students have come to trust.

    Just over fifteen years later, he had transformed himself into the charismatic CEO of a company worth $47 billion--at least on paper. With his long hair and feel-good mantras, the 6-foot-five Neumann, who grew up in part on a kibbutz, looked the part of a messianic Silicon Valley entrepreneur. The vision he offered was mesmerizing: a radical reimagining of work space for a new generation, with its fluid jobs and lax office culture. He called it WeWork. Though the company was merely subleasing amenity-filled office space to freelancers and small startups, Neumann marketed it like a revolutionary product--and investors swooned.As billions of funding dollars poured in, Neumann's ambitions grew limitless. WeWork wasn't just an office space provider, he boasted. It would build schools, create WeWork cities, even colonize Mars. Could he, Neumann wondered from the ice bath he'd installed in his office, become the first trillionaire or a world leader? In pursuit of its founder's grandiose vision, the company spent money faster than it could bring it in. From his private jet, sometimes clouded with marijuana smoke, the CEO scoured the globe for more capital. In late 2019, just weeks before WeWork's highly publicized IPO, a Hail Mary effort to raise cash, everything fell apart. Neumann was ousted from his company--but still was poised to walk away a billionaire.Calling to mind the recent demise of Theranos and the hubris of the dotcom era bust, WeWork's extraordinary rise and staggering implosion were fueled by disparate characters in a financial system blind to its risks, from a Japanese billionaire with designs on becoming the Warren Buffet of tech, to leaders at JPMorgan and Goldman Sachs who seemed intoxicated by a Silicon Valley culture where sensible business models lost out to youthful CEOs who promised disruption. Why did some of the biggest names in banking and venture capital buy the hype? And what does the future hold for Silicon Valley unicorns? Wall Street Journal reporters Eliot Brown and Maureen Farrell explore these questions in this definitive account of WeWork's unraveling.

    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.

    Former Economic Hit Man John Perkins goes behind the scenes of the current geopolitical crisis and offers bold solutions to our most pressing problems. Drawing on interviews with other EHMs, jackals, CIA operatives, reporters, businessmen, and activists, Perkins reveals the secret history of events that have created the current American Empire, including: How the defeats in Vietnam and Iraq have benefited big businessThe role of Israel as Fortress America in the Middle EastTragic repercussions of the IMF's Asian Economic CollapseThe current Latin American revolution and its lessons for democracyU.S. blunders in Tibet, Congo, Lebanon, and VenezuelaFrom the U.S. military in Iraq to infrastructure development in Indonesia, from Peace Corps volunteers in Africa to jackals in Venezuela, Perkins exposes a conspiracy of corruption that has fueled instability and anti-Americanism around the globe, with consequences reflected in our daily headlines. Having raised the alarm, Perkins passionately addresses how Americans can work to create a more peaceful and stable world for future generations.

    After trying – and failing – to land a job as a journalist, he secured a trainee position at Morgan Stanley and got his first feel for the pecking order that exists in the trading pits.  Those on the “buy side,” the traders who make large bets on whether a stock will rise or fall, are the “alphas” and those on the “sell side,” the brokers who handle their business, are eager to please. How eager to please was brought home stunningly to Turney in 1999 when he arrived at the Galleon Group, a colossal hedge-fund management firm run by secretive founder Raj Rajaratnam.  Finally in a position to trade on his own, Turney was encouraged to socialize with the sell side and siphon from his new broker friends as much information as possible.  Soon he was not just vacuuming up valuable tips but also being lured into a variety of hedonistic pursuits.  Naïve enough to believe he could keep up the lifestyle without paying a price, he managed to keep an eye on his buy-and-sell charts and, meanwhile, pondered the strange goings on at Galleon, where tens of millions were being made each week in sometimes mysterious ways.  At his next positions, at Argus Partners and J.L. Berkowitz, Turney climbed to even higher heights – and, as it turned out, plummeted to even lower depths – as, by day, he solidified his reputation one of the Street’s most powerful healthcare traders, and by night, he blazed a path through the city’s nightclubs, showing off his social genius and voraciously inhaling any drug that would fill the void he felt inside. A mesmerizingly immersive journey through Wall Street’s first millennial decade, and a poignant self portrait by a young man who surely would have destroyed himself were it not for his decision to walk away from a seven-figure annual income, The Buy Side is one of the best coming-of-age-on-the-Street books ever written.

    Although this social revolution created a firestorm of controversy, no one questioned the idea that women's involvement in the workforce was certain to improve families' financial lot. Until now.In this brilliantly argued book, Harvard Law School bankruptcy expert Elizabeth Warren and business consultant Amelia Tyagi show that today's middle-class parents are suffering from an unprecedented and totally unexpected economic meltdown. Astonishingly, sending mothers to work has made families more vulnerable than ever before. Today's two-income family earns 75% more money than its single-income counterpart of a generation ago, but actually has less discretionary income once their fixed monthly bills are paid.How did this happen? Warren and Tyagi provide convincing evidence that the culprit is not "overconsumption," as many critics have charged. Instead, they point to the ferocious bidding war for housing and education that has quietly engulfed America's suburbs. Stay-at-home mothers once provided a financial safety net if disaster struck; their move into the workforce has left today's families chillingly at risk. The authors show why the usual remedies--child-support enforcement, subsidized daycare, and higher salaries for women--won't solve the problem, and propose a set of innovative solutions, from rate caps on credit cards to open-access public schools, to restore security to the middle class.

     'A tour de force' Lord Rose, former CEO and Chairman of Marks & Spencer'Dr Pippa Malmgren's book is essential reading' Dr Liam Fox, former British Defence Minister'Better than Piketty' James Galbraith, Chair of Government and Business at the University of Texas Pippa Malmgren argues that by being alert to the many signals around us, we can be empowered to deal with the varied troubles and treasures the world economy inevitably brings. Economics is not just maths and data. Perfume and makeup are part of the world economy too. Signals will help you understand why the size of chocolate bars, steaks and apartments are shrinking. It explains why the government says we face deflation yet everyone feels their cost of living is rising and their standard of living is falling. Rising protein prices are felt not just during your weekly shop but by the leaders of emerging markets who are obliged to reach for food and energy assets to feed their people. The increasing near misses between America's spy planes and the fighter jets of China and Russia are no coincidence. Malmgren reveals how our daily lives are affected by the ongoing battle, created by central bankers, between inflation and deflation. The fallout of this battle is evident in the rise of anti-establishment voting, the return of social unrest to emerging markets, the movement of manufacturing jobs back to the West, and by pressure from mass immigration. Economic forces are breaking the social contract between citizens and their states. If the only real solution is innovation, then the key question becomes whether governments are hostile or hospitable to efforts to build tomorrow's economy today. Malmgren shows us who is already building the future and how to be part of it.With its wonderful range of examples, from a Vogue magazine cover to a protest by a Tibetan monk, Signals demonstrates that although we can't predict the future of the world economy, we can better prepare ourselves for it. Far from being the concern of only a privileged few, Malmgren shows that economics is a hot topic that touches every life.

    While this has had the positive effect of equalizing access to knowledge, it also has lowered the bar on what depth of knowledge is required to consider oneself an "expert." A cult of anti-expertise sentiment has coincided with anti-intellectualism, resulting in massively viral yet poorly informed debates ranging from the anti-vaccination movement to attacks on GMOs. This surge in intellectual egalitarianism has altered the landscape of debates-all voices are equal, and "fact" is a subjective term. Browsing WebMD puts one on equal footing with doctors, and Wikipedia allows all to be foreign policy experts, scientists, and more. As Tom Nichols shows in The Death of Expertise, there are a number of reasons why this has occurred-ranging from easy access to Internet search engines to a customer satisfaction model within higher education. The product of these interrelated trends, Nichols argues, is a pervasive distrust of expertise among the public coinciding with an unfounded belief among non-experts that their opinions should have equal standing with those of the experts. The experts are not always right, of course, and Nichols discusses expert failure. The crucial point is that bad decisions by experts can and have been effectively challenged by other well-informed experts. The issue now is that the democratization of information dissemination has created an army of ill-informed citizens who denounce expertise.When challenged, non-experts resort to the false argument that the experts are often wrong. Though it may be true, but the solution is not to jettison expertise as an ideal; it is to improve our expertise. Nichols is certainly not opposed to information democratization, but rather the enlightenment people believe they achieve after superficial internet research. He shows in vivid detail the ways in which this impulse is coursing through our culture and body politic, but the larger goal is to explain the benefits that expertise and rigorous learning regimes bestow upon all societies.

    Citigroup, PepsiCo and Mastercard are just a handful of the Fortune 500 companies led by a group known as the "Twice Blessed." Yet little is known about how these Indian emigres (and children of emigres) rose through the ranks. Until now...The collapse of the Galleon Group--a hedge fund that managed more than $7 billion in assets--from criminal charges of insider trading was a sensational case that pitted prosecutor Preet Bharara, himself the son of Indian immigrants, against the best and brightest of the South Asian business community. At the center of the case was self-described King of Kings, Galleon's founder Raj Rajaratnam, a Sri-Lankan-born, Wharton-educated billionaire. But the most shocking allegation was that the éminence grise of Indian business, Rajat Gupta, was Rajaratnam's accomplice and mole. If not for Gupta's nose-to-the-grindstone rise to head up McKinsey & Co and a position on the Goldman Sachs board, men like Rajaratnam would have never made it to the top of America's moneyed elite.Author Anita Raghavan criss-crosses the globe from Wall Street boardrooms to Delhi's Indian Institute of Technology as she uncovers the secrets of this subculture--an incredible tale of triumph, temptation and tragedy.

    This Harriman House edition includes Charles Mackay's account of the three infamous financial manias - John Law's Mississipi Scheme, the South Sea Bubble, and Tulipomania.Between the three of them, these historic episodes confirm that greed and fear have always been the driving forces of financial markets, and, furthermore, that being sensible and clever is no defence against the mesmeric allure of a popular craze with the wind behind it.In writing the history of the great financial manias, Charles Mackay proved himself a master chronicler of social as well as financial history. Blessed with a cast of characters that covered all the vices, gifted a passage of events which was inevitably heading for disaster, and with the benefit of hindsight, he produced a record that is at once a riveting thriller and absorbing historical document. A century and a half later, it is as vibrant and lurid as the day it was written.For modern-day investors, still reeling from the dotcom crash, the moral of the popular manias scarcely needs spelling out. When the next stock market bubble comes along, as it surely will, you are advised to recall the plight of some of the unfortunates on these pages, and avoid getting dragged under the wheels of the careering bandwagon yourself.

    Increasingly, the decisions that affect our lives--where we go to school, whether we can get a job or a loan, how much we pay for health insurance--are being made not by humans, but by machines. In theory, this should lead to greater fairness: Everyone is judged according to the same rules.But as mathematician and data scientist Cathy O'Neil reveals, the mathematical models being used today are unregulated and uncontestable, even when they're wrong. Most troubling, they reinforce discrimination--propping up the lucky, punishing the downtrodden, and undermining our democracy in the process.

    In an Internet society, according to Richard Susskind and Daniel Susskind, we will neither need nor want doctors, teachers, accountants, architects, the clergy, consultants, lawyers, and many others, to work as they did in the 20th century.The Future of the Professions explains how 'increasingly capable systems' -- from telepresence to artificial intelligence -- will bring fundamental change in the way that the 'practical expertise' of specialists is made available in society.The authors challenge the 'grand bargain' -- the arrangement that grants various monopolies to today's professionals. They argue that our current professions are antiquated, opaque and no longer affordable, and that the expertise of their best is enjoyed only by a few. In their place, they propose six new models for producing and distributing expertise in society.The book raises important practical and moral questions. In an era when machines can out-perform human beings at most tasks, what are the prospects for employment, who should own and control online expertise, and what tasks should be reserved exclusively for people?Based on the authors' in-depth research of more than ten professions, and illustrated by numerous examples from each, this is the first book to assess and question the relevance of the professions in the 21st century.

    Busy people fail to manage their time efficiently for the same reasons the poor and those maxed out on credit cards fail to manage their money. The dynamics of scarcity reveal why dieters find it hard to resist temptation, why students and busy executives mismanage their time, and why sugarcane farmers are smarter after harvest than before. Once we start thinking in terms of scarcity and the strategies it imposes, the problems of modern life come into sharper focus.Mullainathan and Shafir discuss how scarcity affects our daily lives, recounting anecdotes of their own foibles and making surprising connections that bring this research alive. Their book provides a new way of understanding why the poor stay poor and the busy stay busy, and it reveals not only how scarcity leads us astray but also how individuals and organizations can better manage scarcity for greater satisfaction and success.http://us.macmillan.com/scarcity/Send...

    This book tackles such questions head-on.   The authors begin with the great economist John Maynard Keynes. In 1930 Keynes predicted that, within a century, per capita income would steadily rise, people’s basic needs would be met, and no one would have to work more than fifteen hours a week. Clearly, he was wrong: though income has increased as he envisioned, our wants have seemingly gone unsatisfied, and we continue to work long hours.   The Skidelskys explain why Keynes was mistaken. Then, arguing from the premise that economics is a moral science, they trace the concept of the good life from Aristotle to the present and show how our lives over the last half century have strayed from that ideal. Finally, they issue a call to think anew about what really matters in our lives and how to attain it.   How Much Is Enough? is that rarity, a work of deep intelligence and ethical commitment accessible to all readers. It will be lauded, debated, cited, and criticized. It will not be ignored.