A NEW YORK TIMES, WALL STREET JOURNAL, AND USA TODAY BESTSELLER
"Howard Marks, among the world’s most successful investment managers as well as an intellectual leader of the profession [has written a new book]. Mastering the Market Cycle is...wise...A careful reading can make us better investors and protect us from the all too frequent errors that ruin investment results." Burton G. Malkiel, Wall Street Journal
"I always say, ‘There’s no better teacher than history in determining the future.’ Howard’s book tells us how to learn from history... and thus get a better idea of what the future holds." Charlie Munger, Vice Chairman, Berkshire Hathaway
The legendary investor shows how to identify and master the cycles that govern the markets.
We all know markets rise and fall, but when should you pull out, and when should you stay in? The answer is never black or white, but is best reached through a keen understanding of the reasons behind the rhythm of cycles. Confidence about where we are in a cycle comes when you learn the patterns of ups and downs that influence not just economics, markets, and companies, but also human psychology and the investing behaviors that result.
If you study past cycles, understand their origins and remain alert for the next one, you will become keenly attuned to the investment environment as it changes. You’ll be aware and prepared while others get blindsided by unexpected events or fall victim to emotions like fear and greed.
By following Marks’s insights drawn in part from his iconic memos over the years to Oaktree’s clients you can master these recurring patterns to have the opportunity to improve your results. READ MORE
"[An] extraordinary tale... [Vaughan] tells it in vivid detail... The real lesson from Mr. Vaughan’s well-reported book is that far too much energy goes into prosecuting such small fry. The real bandits are still out there, cloaked in political cover and respectability yet rigging the markets at scale." Wall Street Journal
"Read this book. It is briskly written and well paced. It explains complex financial concepts in lucid prose that should be accessible to newcomers, while also providing details that will engage more knowledgeable readers...A worthy and engaging addition to the genre of book-length narrative financial journalism." Los Angeles Review of Books
The riveting story of a trading prodigy who amassed $70 million from his childhood bedroom until the US government accused him of helping trigger an unprecedented market collapse. On May 6, 2010, financial markets around the world tumbled simultaneously and without warning. In the span of five minutes, a trillion dollars of valuation was lost. The Flash Crash, as it became known, represented what was then the fastest drop in market history. When share values rebounded less than half an hour later, experts around the globe were left perplexed. What had they just witnessed?
Navinder Singh Sarao hardly seemed like a man who would shake the world's financial markets to their core. Raised in a working-class neighborhood in West London, Nav was a preternaturally gifted trader who played the markets like a computer game. By the age of thirty, he had left behind London's "trading arcades," working instead out of his childhood home. For years the money poured in. But when lightning-fast electronic traders infiltrated markets and started eating into his profits, Nav built a system of his own to fight back. It worked until 2015, when the FBI arrived at his door. Depending on whom you ask, Sarao was a scourge, a symbol of a financial system run horribly amok, or a folk hero who took on the tyranny of Wall Street and the high-frequency traders. A real-life financial thriller, Flash Crash uncovers the remarkable, behind-the-scenes narrative of a mystifying market crash, a globe-spanning investigation into international fraud, and a man at the center of them both. READ MORE
"Amazon Unbound is particularly valuable in explaining how the company makes money, and the day-to-day decisions that end up having a big effect on consumers... Significantly, the book is also very much a biography of Bezos. And that makes it timely at a moment when our economy is dominated by giant firms headed by a small handful of men... [a] juicy tour of the company Bezos built." New York Times Book Review
"Fascinating and deeply researched... Stone is at his best describing Bezos’s demanding style of management... [a] masterful book." Marc Levinson, Washington Post
Almost ten years ago, Bloomberg journalist Brad Stone captured the rise of Amazon in his bestseller The Everything Store. Since then, Amazon has expanded exponentially, inventing novel products like Alexa and disrupting countless industries, while its workforce has quintupled in size and its valuation has soared to nearly two trillion dollars. It’s almost impossible to go a day without encountering the impact of Jeff Bezos’s Amazon, between services like Whole Foods, Prime Video, and Amazon’s cloud computing unit, AWS, plus Bezos’s ownership of The Washington Post. We live in a world run, supplied, and controlled by Amazon and its iconoclast founder.
In Amazon Unbound, Brad Stone presents an "excellent" (The New York Times), deeply reported, vividly drawn portrait of how a retail upstart became of the most powerful and feared entities in the global economy. Stone also probes the evolution of Bezos himselfwho started as a geeky technologist totally devoted to building Amazon, but who transformed to become a fit, disciplined billionaire with global ambitions, who ruled Amazon with an iron fist, even as he found his personal life splashed over the tabloids.
Definitive, timely, and "engaging" (Jon Meacham, author of The Soul of America), Stone has provided an unvarnished portrait of a man and company that we couldn’t imagine modern life without. READ MORE
"Rubenstein wants readers to see the full spectrum of assets and liabilities in leaders." Forbes
"Rubenstein shares his unparalleled access to many influential leaders, using his stature and experience to provide insights otherwise unavailable to many... An introduction launches into Rubenstein's ruminations on life; his 12 attributes of leadership, from luck and focus to failure and integrity; plus his belief that real success occurs during the second and third "thirds" of life on earth... Readers will want to keep a pen handy: "Most of our regrets are acts of omission" (Jeff Bezos). "Your legacy is every life that you’ve touched" (Oprah). "Data is actually sexist" (Melinda Gates). "If you’re willing to make the trade-offs that you need to make, you can have it all" (Indra Nooyi). Words for life." Booklist, starred review
The essential leadership playbook. Learn the principles and guiding philosophies of Bill Gates, Jeff Bezos, Ruth Bader Ginsburg, Warren Buffett, Oprah Winfrey, and many others through illuminating conversations about their remarkable lives and careers.
For the past five years, David M. Rubenstein author of The American Story, visionary cofounder of The Carlyle Group, and host of The David Rubenstein Show has spoken with the world’s highest performing leaders about who they are and how they became successful. How to Lead distills these revealing conversations into an indispensable leadership guidebook.
Gain advice and wisdom from CEOs, presidents, founders, and master performers from the worlds of finance (Warren Buffett, Jamie Dimon, Christine Lagarde, Ken Griffin), tech (Jeff Bezos, Bill Gates, Eric Schmidt, Tim Cook), entertainment (Oprah Winfrey, Lorne Michaels, Renee Fleming, Yo-Yo Ma), sports (Jack Nicklaus, Adam Silver, Coach K, Phil Knight), government (President Bill Clinton, President George W. Bush, Ruth Bader Ginsburg, Nancy Pelosi), and many others.
How to Lead shares the extraordinary stories of these pioneering agents of change. Discover how each luminary got started and how they handle decision making, failure, innovation, change, and crisis. Learn from their decades of experience as pioneers in their field. No two leaders are the same. READ MORE
"[A] remarkable new book... [Lo’s] insights should allow investors and regulators alike to manage risks better. They should read it." John Authers, Financial Times
"A fascinating read, cogently situating financial behaviour within what we know about human behaviour and evolutionary history." Diane Coyle, Nature
A new, evolutionary explanation of markets and investor behavior
Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe―and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.
Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought―a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.
A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications―including how hedge funds have become the Galápagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises. An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work. READ MORE
"Mr. Dalio has long been an object of fascination... His new book is more significant than the original list of principles: It is part memoir, part how-to guide. It is a deeply personal story, with Mr. Dalio wading into how he started his firm in 1975, internal conflicts inside the company, and strife early on in his career. The book is both instructive and surprisingly moving... Underneath what may seem like a clinical, emotionless approach is something different and far more poignant: Mr. Dalio is preaching for individuals to have a sense of humility and introspection, an ability to open themselves to appreciate pointed criticism and use it to improve." The New York Times
In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as "an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency." It is these principles, and not anything special about Dalio who grew up an ordinary kid in a middle-class Long Island neighborhood that he believes are the reason behind his success.
In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of "radical truth" and "radical transparency," include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating "baseball cards" for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve. READ MORE
In this instant and tenacious New York Times bestseller, Nike founder and board chairman Phil Knight "offers a rare and revealing look at the notoriously media-shy man behind the swoosh" (Booklist, starred review), illuminating his company’s early days as an intrepid start-up and its evolution into one of the world’s most iconic, game-changing, and profitable brands.
Bill Gates named Shoe Dog one of his five favorite books of 2016 and called it "an amazing tale, a refreshingly honest reminder of what the path to business success really looks like. It’s a messy, perilous, and chaotic journey, riddled with mistakes, endless struggles, and sacrifice. Phil Knight opens up in ways few CEOs are willing to do."
Fresh out of business school, Phil Knight borrowed fifty dollars from his father and launched a company with one simple mission: import high-quality, low-cost running shoes from Japan. Selling the shoes from the trunk of his car in 1963, Knight grossed eight thousand dollars that first year. Today, Nike’s annual sales top $30 billion. In this age of start-ups, Knight’s Nike is the gold standard, and its swoosh is one of the few icons instantly recognized in every corner of the world.
But Knight, the man behind the swoosh, has always been a mystery. In Shoe Dog, he tells his story at last. At twenty-four, Knight decides that rather than work for a big corporation, he will create something all his own, new, dynamic, different. He details the many risks he encountered, the crushing setbacks, the ruthless competitors and hostile bankers as well as his many thrilling triumphs. Above all, he recalls the relationships that formed the heart and soul of Nike, with his former track coach, the irascible and charismatic Bill Bowerman, and with his first employees, a ragtag group of misfits and savants who quickly became a band of swoosh-crazed brothers.
Together, harnessing the electrifying power of a bold vision and a shared belief in the transformative power of sports, they created a brand and a culture that changed everything. READ MORE
"A mighty and mighty confident work... This is state-of-the-art biography... The First Tycoon has been widely praised, and rightly so... This is state-of-the-art biography." The New York Times
"Superbly written and researched... Worthy of its subject." The Economist
"Truly remarkable... A landmark study that significantly enhances one’s understanding of U.S. economic history... [Stiles is] one of the most exciting writers in the field." Foreign Affairs
"Stiles has painted a full-bodied, nuanced picture of the man... Elegance of style and fair-minded intent illuminate Stiles’s latest, expectedly profound exploration of American culture in the raw." The Boston Globe
"Stiles, a superb researcher, has unearthed quantities of new material and crafted them into the illuminating, authoritative portrait of Vanderbilt that has been missing for so long." The Washington Post
"Very absorbing... Much more than a biography. The book is filled with important, exhaustively researched and indeed fascinating details that would profit every student of American business and social history to read." San Francisco Chronicle
In this groundbreaking biography, T.J. Stiles tells the dramatic story of Cornelius "Commodore" Vanderbilt, the combative man and American icon who, through his genius and force of will, did more than perhaps any other individual to create modern capitalism. Meticulously researched and elegantly written, The First Tycoon describes an improbable life, from Vanderbilt’s humble birth during the presidency of George Washington to his death as one of the richest men in American history. In between we see how the Commodore helped to launch the transportation revolution, propel the Gold Rush, reshape Manhattan, and invent the modern corporation. Epic in its scope and success, the life of Vanderbilt is also the story of the rise of America itself. READ MORE
"A book that details the extraordinary success of CEOs who took a radically different approach to corporate management." Charlie Munger, Vice-Chairman of Berkshire Hathaway Corporation
What makes a successful CEO? Most people call to mind a familiar definition: "a seasoned manager with deep industry expertise." Others might point to the qualities of today’s so-called celebrity CEOscharisma, virtuoso communication skills, and a confident management style. But what really matters when you run an organization? What is the hallmark of exceptional CEO performance? Quite simply, it is the returns for the shareholders of that company over the long term.
In this refreshing, counterintuitive book, author Will Thorndike brings to bear the analytical wisdom of a successful career in investing, closely evaluating the performance of companies and their leaders. You will meet eight individualistic CEOs whose firms’ average returns outperformed the S&P 500 by a factor of twenty in other words, an investment of $10,000 with each of these CEOs, on average, would have been worth over $1.5 million twenty-five years later. You may not know all their names, but you will recognize their companies: General Cinema, Ralston Purina, The Washington Post Company, Berkshire Hathaway, General Dynamics, Capital Cities Broadcasting, TCI, and Teledyne. In The Outsiders, you’ll learn the traits and methods striking for their consistency and relentless rationality that helped these unique leaders achieve such exceptional performance.
Humble, unassuming, and often frugal, these "outsiders" shunned Wall Street and the press, and shied away from the hottest new management trends. Instead, they shared specific traits that put them and the companies they led on winning trajectories: a laser-sharp focus on per share value as opposed to earnings or sales growth; an exceptional talent for allocating capital and human resources; and the belief that cash flow, not reported earnings, determines a company’s long-term value.
Drawing on years of research and experience, Thorndike tells eye-opening stories, extracting lessons and revealing a compelling alternative model for anyone interested in leading a company or investing in oneand reaping extraordinary returns. READ MORE
"Successful people make it look so easy but they never said it was. In Getting There, the highest achievers share some of their lowest moments, and there is much wisdom to be gained from those struggles. Captivating, thought-provoking, humorous, and uplifting, this book delivers straight-from-the-source accounts of what it is really like to achieve something meaningful." David Faber, CNBC
"Kudos to Gillian Zoe Segal for assembling this remarkable group of visionaries and helping them all tell their stories without filters or false bravado. Getting There is both empowering and illuminating." Piper Kerman, New York Times bestselling author of Orange Is the New Black
"Reading Getting There is like having an intimate, one-on-one talk with some of the world's most fascinating and accomplished people. You will be taken aback by their honesty, entertained by their anecdotes, and, most of all, learn invaluable lessons about both business and life. This book is fantastic you will not be able to put it down!" JJ Ramberg, MSNBC
"Getting There is a great book whether you're just starting out or well into your career. Somehow, Gillian Zoe Segal has gotten these leaders to share their stories in a unique, authentic, and revealing way. Their insights will inspire you and help clarify many of the key challenges you must face in building a successful professional life." Robert Steven Kaplan, senior associate dean and professor, Harvard Business School
"For life-changing, real-world advice." Vanity Fair
The path to success is rarely easy or direct, and good mentors are hard to find. In Getting There, thirty leaders in diverse fields share their secrets to navigating the rocky road to the top. In an honest, direct, and engaging way, these role models describe the obstacles they faced, the setbacks they endured, and the vital lessons they learned. They dispense not only essential and practical career advice, but also priceless wisdom applicable to life in general. Getting There is for everyone from students contemplating their futures to the vast majority of us facing challenges or seeking to reach our potential. READ MORE
"Michael Lewis is a genius, and his book will give high-frequency trading a much-needed turn under the microscope." Kevin Roose, New York Magazine
"Lewis, as always, is exceedingly good at describing the complexities and absurdities of the subculture he portrays here... A deeply entertaining book, and one that illuminates how much our world has changed in less than a decade." Hector Tobar, Los Angeles Times
"Important to public debate about Wall Street... in exposing what one of his central characters calls the ‘Pandora’s box of ridiculousness’ that financial exchanges have become." Philip Delves Broughton, Wall Street Journal
"Reads like a thriller... Lewis is the kind of writer who creates his own weather system." John Lanchester, London Review of Books
"For life-changing, real-world advice." ― Vanity Fair
"Guaranteed to make blood boil." ―Janet Maslin, New York Times
"A beautiful narrative, so well-written. You’ve got to get this." Jon Stewart, The Daily Show
In Michael Lewis's game changing bestseller, a small group of Wall Street iconoclasts realize that the U.S. stock market has been rigged for the benefit of insiders. They band together some of them walking away from seven figure salaries―to investigate, expose, and reform the insidious new ways that Wall Street generates profits. If you have any contact with the market, even a retirement account, this story is happening to you. READ MORE
Robert Iger became CEO of The Walt Disney Company in 2005, during a difficult time. Competition was more intense than ever and technology was changing faster than at any time in the company’s history. His vision came down to three clear ideas: Recommit to the concept that quality matters, embrace technology instead of fighting it, and think bigger think global and turn Disney into a stronger brand in international markets. Today, Disney is the largest, most admired media company in the world, counting Pixar, Marvel, Lucasfilm, and 21st Century Fox among its properties. Its value is nearly five times what it was when Iger took over, and he is recognized as one of the most innovative and successful CEOs of our era.
Today, Disney is the largest, most admired media company in the world, counting Pixar, Marvel, Lucasfilm, and 21st Century Fox among its properties. Its value is nearly five times what it was when Iger took over, and he is recognized as one of the most innovative and successful CEOs of our era.
Robert Iger shares the lessons he learned while running Disney and leading its 220,000-plus employees, and he explores the principles that are necessary for true leadership, including: Optimism. Even in the face of difficulty, an optimistic leader will find the path toward the best possible outcome and focus on that, rather than give in to pessimism and blaming. Courage. Leaders have to be willing to take risks and place big bets. Fear of failure destroys creativity. Decisiveness. All decisions, no matter how difficult, can be made on a timely basis. Indecisiveness is both wasteful and destructive to morale. Fairness. Treat people decently, with empathy, and be accessible to them.
This book is about the relentless curiosity that has driven Iger for forty-five years, since the day he started as the lowliest studio grunt at ABC. It’s also about thoughtfulness and respect, and a decency-over-dollars approach that has become the bedrock of every project and partnership Iger pursues, from a deep friendship with Steve Jobs in his final years to an abiding love of the Star Wars mythology.
"The ideas in this book strike me as universal" Iger writes. "Not just to the aspiring CEOs of the world, but to anyone wanting to feel less fearful, more confidently themselves, as they navigate their professional and even personal lives." READ MORE
"A biography that has many of the best attributes of a novel... Wonderfully fluent and compelling." The New York Times
"Important and impressive... Reveals the man behind both the mask and the myth." The Wall Street Journal
"One of the great American biographies... [Chernow] writes with rich impartiality. He turns the machinations of Standard Oil... into fascinating social history." Time
John D. Rockefeller, Sr.--history's first billionaire and the patriarch of America's most famous dynasty--is an icon whose true nature has eluded three generations of historians. Now Ron Chernow, the National Book Award-winning biographer of the Morgan and Warburg banking families, gives us a history of the mogul "etched with uncommon objectivity and literary grace... as detailed, balanced, and psychologically insightful a portrait of the tycoon as we may ever have" (Kirkus Reviews). Titan is the first full-length biography based on unrestricted access to Rockefeller's exceptionally rich trove of papers. A landmark publication full of startling revelations, the book will indelibly alter our image of this most enigmatic capitalist.
From the acclaimed, award-winning author of Alexander Hamilton: here is the essential, endlessly engrossing biography of John D. Rockefeller, Sr.the Jekyll-and-Hyde of American capitalism. In the course of his nearly 98 years, Rockefeller was known as both a rapacious robber baron, whose Standard Oil Company rode roughshod over an industry, and a philanthropist who donated money lavishly to universities and medical centers. He was the terror of his competitors, the bogeyman of reformers, the delight of caricaturistsand an utter enigma.
Drawing on unprecedented access to Rockefeller’s private papers, Chernow reconstructs his subjects’ troubled origins (his father was a swindler and a bigamist) and his single-minded pursuit of wealth. But he also uncovers the profound religiosity that drove him "to give all I could"; his devotion to his father; and the wry sense of humor that made him the country’s most colorful codger. Titan is a magnificent biographybalanced, revelatory, elegantly written. READ MORE
"Well-founded advice based on hard-won experience." Financial Times
"Nothing if not entertaining, even inspiring." Time
"An unexpected gem." Forbes
"Engaging and blunt." BusinessWeek
"If Machiavelli sat down at his iMac to confect The Billionaire Prince, it might sound remarkably like Felix Dennis's How to Get Rich." The Wall Street Journal
Felix Dennis is an expert at proving people wrong. Starting as a college dropout with no family money, he created a publishing empire, founded Maxim magazine, made himself one of the richest people in the UK, and had a blast in the process.
How to Get Rich is different from any other book on the subject because Dennis isn't selling snake oil, investment tips, or motivational claptrap. He merely wants to help people embrace entrepreneurship, and to share lessons he learned the hard way. He reveals, for example, why a regular paycheck is like crack cocaine; why great ideas are vastly overrated; and why "ownership isn't the important thing, it's the only thing."
Felix Dennis, who believes that almost anyone of reasonable intelligence can become rich, given sufficient motivation and application. How To Get Rich is a distillation of his business wisdom. Primarily concerned with the step-by-step creation of wealth, it ruthlessly dissects the business failures and financial triumphs of 'a South London lad who became rich virtually by accident'. Part manual, part memoir, part primer, this book is a template for those who are willing to stare down failure and transform their lives. Canny, infuriating, cynical and generous by turns. READ MORE
Based on more than forty interviews with Steve Jobs conducted over two yearsas well as interviews with more than 100 family members, friends, adversaries, competitors, and colleaguesWalter Isaacson has written a riveting story of the roller-coaster life and searingly intense personality of a creative entrepreneur whose passion for perfection and ferocious drive revolutionized six industries: personal computers, animated movies, music, phones, tablet computing, and digital publishing.
At a time when America is seeking ways to sustain its innovative edge, Jobs stands as the ultimate icon of inventiveness and applied imagination. He knew that the best way to create value in 21st century was to connect creativity with technology. He built a company where leaps of the imagination were combined with remarkable feats of engineering.
Although Jobs cooperated with the author, he asked for no control over what was written. He put nothing off-limits. He encouraged the people he knew to speak honestly. And Jobs speaks candidly, sometimes brutally so, about the people he worked with and competed against. His friends, foes, and colleagues provide an unvarnished view of the passions, perfectionism, obsessions, artistry, devilry, and compulsion for control that shaped his approach to business and the innovative products that resulted.
His friends, foes, and colleagues offer an unvarnished view of the passions, perfectionism, obsessions, artistry, devilry, and compulsion for control that shaped his approach to business and the innovative products that resulted.
Driven by demons, Jobs could drive those around him to fury and despair. But his personality and products were interrelated, just as Apple’s hardware and software tended to be, as if part of an integrated system. His tale is instructive and cautionary, filled with lessons about innovation, character, leadership, and values.
His tale is instructive and cautionary, filled with lessons about innovation, character, leadership, and values. READ MORE
In Jeff Bezos's own words, the core principles and philosophy that have guided him in creating, building, and leading Amazon and Blue Origin.
In this collection of Jeff Bezos's writings his unique and strikingly original annual shareholder letters, plus numerous speeches and interviews that provide insight into his background, his work, and the evolution of his ideas you'll gain an insider's view of the why and how of his success. Spanning a range of topics across business and public policy, from innovation and customer obsession to climate change and outer space, this book provides a rare glimpse into how Bezos thinks about the world and where the future might take us.
Written in a direct, down-to-earth style, Invent and Wander offers readers a master class in business values, strategy, and execution. The importance of a Day 1 mindset, Why "it's all about the long term", What it really means to be customer obsessed, How to start new businesses and create significant organic growth in an already successful company, Why culture is an imperative, How a willingness to fail is closely connected to innovation, and What the Covid-19 pandemic has taught us. Each insight offers new ways of thinking through today's challenges and more importantly, tomorrow's and the never-ending urgency of striving ahead, never resting on one's laurels.
Each insight offers new ways of thinking through today's challenges and more importantly, tomorrow's and the never-ending urgency of striving ahead, never resting on one's laurels. Everyone from CEOs of the Fortune 100 to entrepreneurs just setting up shop to the millions who use Amazon's products and services in their homes or businesses will come to understand the principles that have driven the success of one of the most important innovators of our time. READ MORE
The Art of War is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC). The work, which is attributed to the ancient Chinese military strategist Sun Tzu is composed of 13 chapters. Each one is devoted to a different set of skills related to warfare and how it applies to military strategy and tactics. For almost 1,500 years it was the lead text in an anthology that was formalized as the Seven Military Classics by Emperor Shenzong of Song in 1080. The Art of War remains the most influential strategy text in East Asian warfare and has influenced both Eastern and Western military thinking, business tactics, legal strategy, lifestyles and beyond.
The book contained a detailed explanation and analysis of the Chinese military, from weapons and strategy to rank and discipline. Sun also stressed the importance of intelligence operatives and espionage to the war effort. Because Sun has long been considered to be one of history's finest military tacticians and analysts, his teachings and strategies formed the basis of advanced military training for millennia to come.
Sun Tzu’s ancient treatise on the art of war has exerted enormous influence over both Asian and Western soldiers, covering subjects ranging from morale and discipline to the correct use of spies. Despite questions about the historicity of the author, the text has stood the test of time and remains widely read by strategists, politicians, and even business leaders today.
Though Dr. Lionel Giles was not the first to translate Sun Tzu into English, he was the first to do so in a systematic and scholarly manner. His translation was unequaled until the mid-20th century, and remains relevant today due to his copious notes. READ MORE
This classic survey of crowd psychology offers an illuminating and entertaining look at three grand-scale swindles. Originally published in England in 1841, its remarkable tales of human folly reveal that the hysteria of the Wall Street Crash of 1929 and the junk-bonds frenzy of the 1980s were far from uniquely twentieth-century phenomena.
The first of the financial scandals discussed, "The Mississippi Scheme," concerns a disastrous eighteenth-century plan for the commercial exploitation of the Mississippi valley, where investors were lured by Louisiana's repute as a region of gold and silver mountains. During the same era, thousands of English investors were ruined by "The South-Sea Bubble," a stock exchange based on British trade with the islands of the South Seas and South America. The third episode involves Holland's seventeenth-century "Tulipomania," when people went into debt collecting tulip bulbs until a sudden depreciation in the bulbs' value rendered them worthless (except as flowers).
Fired by greed and fed by naiveté, these historic investment strategies gone awry retain an irrefutable relevance for modern times. Extraordinary Popular Delusions is essential and enthralling reading for investors as well as students of history, psychology, and human nature.
As we progress further, the scope of the book broadens into several more exotic fields of mass self-deception. Mackay turns his attention to the witch hunts of the 17th and 18th centuries, the practice of alchemy, the phenomena of haunted houses, the vast and varied practices of fortune telling and the search for the philosopher's stone, to name but a handful of subjects. Informed by personal research, and exhaustive in detail, it is with an evocative conviction that the author excoriates mankind's numerous delusions.
Further examples of topics in this lengthy book include various claims concerning old relics and artefacts, often involving such items being said to possess religious significance. Mackay saves particular scorn for popular romanticism surrounding the lives of certain criminal scoundrels, whereby said wrongdoers are thought virtuous in popular society; he also notes the marked emergence of quack medicine concurrent with meaningful advances in medical science. READ MORE
Think and Grow Rich, based on the author’s famed Law of Success, represents the distilled wisdom of distinguished men of great wealth and achievement.
This book will teach you that secret and the secrets of other great men like him. It will show you not only what to do but also how to do it. If you learn and apply the simple basic techniques revealed here, you will have mastered the secret of true and lasting success and you may have whatever you want in life!
Think and Grow Rich has been called the "Granddaddy of All Motivational Literature." It was the first book to boldly ask, "What makes a winner?" The man who asked and listened for the answer, Napoleon Hill, is now counted in the top ranks of the world's winners himself.
The most famous of all teachers of success spent "a fortune and the better part of a lifetime of effort" to produce the "Law of Success" philosophy that forms the basis of his books and that is so powerfully summarized in this one.
In the original Think and Grow Rich, published in 1937, Hill draws on stories of Andrew Carnegie, Thomas Edison, Henry Ford, and other millionaires of his generation to illustrate his principles. In the updated version, Arthur R. Pell, Ph.D., a nationally known author, lecturer, and consultant in human resources management and an expert in applying Hill's thought, deftly interweaves anecdotes of how contemporary millionaires and billionaires, such as Bill Gates, Mary Kay Ash, Dave Thomas, and Sir John Templeton, achieved their wealth. Outmoded or arcane terminology and examples are faithfully refreshed to preclude any stumbling blocks to a new generation of readers. READ MORE
"Mr. Zuckerman is a first-rate reporter who is also able to explain the complexities of real estate finance in layman’s terms. At times, The Greatest Trade Ever reads like a thriller." The New York Times
"How Paulson and a handful of contrarian investors pulled off this once-in-a-lifetime coup is the subject of The Greatest Trade Ever... a fascinating and believable counter-narrative to the growing pile of books recounting the disastrous mistakes made by many of the supposedly smartest minds on Wall Street. It is also a surprisingly dramatic work...In The Greatest Trade Ever, Zuckerman skillfully shows how Paulson and a few cohorts anticipated a disaster and figured out a way to profit." BusinessWeek
In 2006, hedge fund manager John Paulson realized something few others suspected that the housing market and the value of subprime mortgages were grossly inflated and headed for a major fall. Paulson's background was in mergers and acquisitions, however, and he knew little about real estate or how to wager against housing. He had spent a career as an also-ran on Wall Street. But Paulson was convinced this was his chance to make his mark. He just wasn't sure how to do it. Colleagues at investment banks scoffed at him and investors dismissed him. Even pros skeptical about housing shied away from the complicated derivative investments that Paulson was just learning about. But Paulson and a handful of renegade investors such as Jeffrey Greene and Michael Burry began to bet heavily against risky mortgages and precarious financial companies. Timing is everything, though. Initially, Paulson and the others lost tens of millions of dollars as real estate and stocks continued to soar. Rather than back down, however, Paulson redoubled his bets, putting his hedge fund and his reputation on the line.
In the summer of 2007, the markets began to implode, bringing Paulson early profits, but also sparking efforts to rescue real estate and derail him. By year's end, though, John Paulson had pulled off the greatest trade in financial history, earning more than $15 billion for his firm a figure that dwarfed George Soros's billion-dollar currency trade in 1992. Paulson made billions more in 2008 by transforming his gutsy move. Some of the underdog investors who attempted the daring trade also reaped fortunes. But others who got the timing wrong met devastating failure, discovering that being early and right wasn't nearly enough. READ MORE
"My friend – and now partner – Jorge Paulo and his team are among the best businessmen in the world. He is a fantastic person and his story should be an inspiration to everybody, as it is for me." Warren Buffett
In just over forty years, Jorge Paulo Lemann, Marcel Telles and Beto Sicupira built the biggest empire in the history of Brazilian capitalism and launched themselves onto the world stage in an unprecedented way.
Over the past five years, they have acquired no fewer than three globally-recognized American brands: Budweiser, Burger King and Heinz. This has been achieved as discreetly as possible and they have shunned any personal publicity.
The management method they developed, which has been zealously followed by their employees, is based on meritocracy, simplicity and constant cost cutting.
Their culture is as efficient as it is merciless and leaves no room for mediocre performances. On the other hand, those who bring in exceptional results have the chance to become company partners and make a fortune.
Dream Big presents a detailed behind-the-scenes portrait of the meteoric rise of these three businessmen, from the founding of Banco Garantia in the 1970s to the present day.
In 1971, when the Brazilian stock market was going through an euphoria, Harvard graduate, tennis champion and underwater fishing enthusiast from Rio de Janeiro Jorge Paulo Lemann decided to start a new business. He assembled some partners and put out a newspaper ad: "Brokerage wanted." Days later, Lemann began running what would become the cornerstone of his fortune and those of over 200 other people. Its name was Garantia.
The "Garantia model" was based on businesses that impressed Lemann, such as Goldman Sachs in finance and Walmart in retail. Its philosophy gave the best workers the opportunity to become shareholders. READ MORE
"An intimate... three-dimensional portrait of the executive, with lots of reporting from his friends and family." Mara Der Hovanesian, BusinessWeek
In the midst of the most disastrous economic climate of Wall Street’s history, one executive has weathered the storm more deftly than any other: Jamie Dimon, chairman and CEO of JPMorgan Chase. In 2008, while Dimon’s competitors watched their companies crumble, JPMorgan not only survived, it made an astonishing $5 billion profit. Dimon’s continued triumph in the face of an industry-wide meltdown has made him a paragon of finance.
In Last Man Standing, award-winning journalist Duff McDonald chronicles Dimon's tumultuous rise: from his joining the legendary Sandy Weill at American Express fresh out of Harvard Business School to their building of Citigroup (and Dimon's unceremonious ouster) to his rescue of Bank One and, at the unprecedented age of forty-eight, his ascension to the top post at JPMorgan Chase -- a bank he transformed from a broken institution to the sine qua non of global banking in five short years.
Upon gaining unfettered access to Dimon, McDonald spent countless hours interviewing him and his full circle of family, friends, and colleagues to provide an unprecedented and deeply personal look at this extraordinary figure. Moving beyond Dimon's "fortress" balance sheets, McDonald reveals a dedicated family man whose uncanny facility with numbers and tireless work ethic are complemented by fierce loyalty and an unrelenting aversion to offi ce politics. Dimon, for the first time, shares detailed insights on the heart of his business and management philosophies, and industry titans such as Weill and Warren Buffett offer their analyses of his career.
At a time when Dimon's competitors watch their companies crumble, JPMorgan not only continues to weather the worst period in the history of Wall Street but is growing by leaps and bounds. The definitive biography of Jamie Dimon, Last Man Standing is by far the most comprehensive portrait of the only man in finance today who can be called an American hero. READ MORE
"As a young man, I came across George Samuel Clason's classic book The Richest Man in Babylon, which offered commonsense financial advice told through ancient parables. I recommend it to everyone." Tony Robbins
"This is a great gift for a graduate or anyone who seems baffled by the world of finance and a wonderful, refreshing read for even the most experienced investor." Los Angeles Times
This is the complete, original 1926 edition of a classic. This is a beautifully-designed edition of the complete, classic work. The ancient Babylonians were the first people to discover the universal laws of prosperity. In his classic bestseller, "The Richest Man in Babylon," George S. Clason reveals their secrets for creating, growing, and preserving wealth.
Through these entertaining tales of merchants, tradesmen, and herdsmen, you'll learn how to keep more out what you earn; get out of debt; put your money to work; attract good luck; choose wise investments; and safeguard a lasting fortune.
He puts the place and action back 8000 years in ancient Babylon, the cradle of financial culture and the best example of how prosperity depends only on the efforts and abilities of the individual, not on external, climatic or random circumstances. He offers the opportunity to see our present time and our personal situation from different eyes and to become a disciple of the wise men of Babylon. The diversity of human characters and individual life situations correspond to the eleven parables of the book, which show the effectiveness of the timeless basic rules of success, which are intended to serve the understanding of general financial relationships. We recommend this book to anyone looking for thought as well as entertainment.
The Richest Man in Babylon, based on "Babylonian parables", has been hailed as the greatest of all inspirational works on the subject of thrift, financial planning, and personal wealth. In simple language, these fascinating and informative stories set you on a sure path to prosperity and its accompanying joys. A celebrated bestseller, it offers an understanding and a solution to your personal financial problem. Revealed inside are the secrets to acquiring money, keeping money, and making money earn more money. READ MORE
"This story of a Wharton graduate who carried out the $5 billion swindle known as 1MDB offers a textbook case of financial fraud in the modern age." New York Times
"As Bad Blood is to biotech, Billion Dollar Whale is to international finance... a wonderful read... Thrilling." Bill Gates
"If you like global intrigue, financial crime, wealth porn, and absurdity, Billion Dollar Whale, by Tom Wright and Bradley Hope, is for you... It almost seems made up. Still, anyone who has followed the news out of Malaysia will know that the story is all too real." The New Yorker
Named a Best Book of 2018 by the Financial Times and Fortune, this "thrilling" (Bill Gates) New York Times bestseller exposes how a "modern Gatsby" swindled over $5 billion with the aid of Goldman Sachs in "the heist of the century" (Axios). Now a #1 international bestseller, Billion Dollar Whale is "an epic tale of white-collar crime on a global scale" (Publishers Weekly), revealing how a young social climber from Malaysia pulled off one of the biggest heists in history. Billion Dollar Whale has joined the ranks of Liar's Poker, Den of Thieves, and Bad Blood as a classic harrowing parable of hubris and greed in the financial world.
In 2009, a chubby, mild-mannered graduate of the University of Pennsylvania's Wharton School of Business named Jho Low set in motion a fraud of unprecedented gall and magnitude one that would come to symbolize the next great threat to the global financial system. Over a decade, Low, with the aid of Goldman Sachs and others, siphoned billions of dollars from an investment fund right under the nose of global financial industry watchdogs.
Low used the money to finance elections, purchase luxury real estate, throw champagne-drenched parties, and even to finance Hollywood films like The Wolf of Wall Street. By early 2019, with his yacht and private jet reportedly seized by authorities and facing criminal charges in Malaysia and in the United States, Low had become an international fugitive, even as the U.S. Department of Justice continued its investigation. READ MORE
"No one writes with more narrative panache about money and finance than Mr. Lewis... [he] does a nimble job of using his subjects’ stories to explicate the greed, idiocies and hypocrisies of a system notably lacking in grown-up supervision... Writing in faintly Tom Wolfe-ian prose, Mr. Lewis does a colorful job of introducing the lay reader to the Darwinian world of the bond market." Michiko Kakutani, The New York Times
"It is the work of our greatest financial journalist, at the top of his game. And it's essential reading." Graydon Carter, Vanity Fair
"I read Lewis for the same reasons I watch Tiger Woods. I’ll never play like that. But it’s good to be reminded every now and again what genius looks like. One of the best business books of the past two decades." Malcolm Gladwell, New York Times Book Review
"Superb: Michael Lewis doing what he does best, illuminating the idiocy, madness and greed of modern finance... Lewis achieves what I previously imagined impossible: He makes subprime sexy all over again." Andrew Leonard, Salon.com
The real story of the crash began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower- and middle-class Americans who can't pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren't talking.
Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liar's Poker. Out of a handful of unlikely-really unlikely-heroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest chronicler of our time. READ MORE
"An extraordinarily useful account of the methods of an investor held by many to be the world's greatest." The Wall Street Journal
Warren Buffett is the most famous investor of all time and one of today's most admired business leaders. He became a billionaire and investment sage by looking at companies as businesses rather than prices on a stock screen. The first two editions of The Warren Buffett Way gave investors their first in-depth look at the innovative investment and business strategies behind Buffett's spectacular success. The new edition updates readers on the latest investments by Buffett. And, more importantly, it draws on the new field of behavioral finance to explain how investors can overcome the common obstacles that prevent them from investing like Buffett.
Over an investment career that is six decades and counting, Warren Buffett has confronted countless challenges and navigated his way to unparalleled success. His humility, integrity, and intellectual spirit have endeared him to millions of investors around the world, and continue to ignite intense interest in how he goes about his business. That's why Robert Hagstrom has returned with the Third Edition of The Warren Buffett Way.
Despite the avalanche of information available to today's investor, many still struggle to earn a profit. But far above the market madness stands the insights and experience of Warren Buffett. In this latest edition of The Warren Buffett Way, Hagstrom puts the "Oracle of Omaha's" investment philosophy in perspective, while revealing how you can incorporate his effective approach into your own endeavors.
The greatest challenge to emulating Buffett is not in the selection of the right stocks, Hagstrom writes, but in having the fortitude to stick with sound investments in the face of economic and market uncertainty. The new edition explains the psychological foundations of Buffett's approach, thus giving readers the best roadmap yet for mastering both the principles and behaviors that have made Buffett the greatest investor of our generation. READ MORE
"Raw and frequently hilarious." The New York Times
By day he made thousands of dollars a minute. By night he spent it as fast as he could. From the binge that sank a 170-foot motor yacht and ran up a $700,000 hotel tab, to the wife and kids waiting at home and the fast-talking, hard-partying young stockbrokers who called him king, here, in Jordan Belfort’s own words, is the story of the ill-fated genius they called the Wolf of Wall Street. In the 1990s, Belfort became one of the most infamous kingpins in American finance: a brilliant, conniving stock-chopper who led his merry mob on a wild ride out of Wall Street and into a massive office on Long Island. It’s an extraordinary story of greed, power, and excess that no one could invent: the tale of an ordinary guy who went from hustling Italian ices to making hundreds of millions until it all came crashing down.
In the 1990s Jordan Belfort, former kingpin of the notorious investment firm Stratton Oakmont, became one of the most infamous names in American finance: a brilliant, conniving stock-chopper who led his merry mob on a wild ride out of the canyons of Wall Street and into a massive office on Long Island. Now, in this astounding and hilarious tell-all autobiography, Belfort narrates a story of greed, power, and excess that no one could invent.
Reputedly the prototype for the film Boiler Room, Stratton Oakmont turned microcap investing into a wickedly lucrative game as Belfort’s hyped-up, coked-out brokers browbeat clients into stock buys that were guaranteed to earn obscene profits for the house. But an insatiable appetite for debauchery, questionable tactics, and a fateful partnership with a breakout shoe designer named Steve Madden would land Belfort on both sides of the law and into a harrowing darkness all his own.
From the stormy relationship Belfort shared with his model-wife as they ran a madcap household that included two young children, a full-time staff of twenty-two, a pair of bodyguards, and hidden cameras everywhere even as the SEC and FBI zeroed in on them to the unbridled hedonism of his office life, here is the extraordinary story of an ordinary guy who went from hustling Italian ices at sixteen to making hundreds of millions. Until it all came crashing down... READ MORE
"Hair-raising...as revealing a document about contemporary Britain as all 2,000 pages of the Scott Report." OBSERVER
"The story of Leeson and his bride has it all: filthy lucre, brazen abuse of power, and boy-meets-girl romance." SUNDAY TIMES
"Simultaneously entertaining and appalling." FINANCIAL TIMES
When Leeson was arrested in 1995 for bringing Barings Bank to its knees, it initially seemed as if he had single-handedly crushed the company. Indeed, it was he alone who found himself in the dark confines of a Singapore jail, from where he wrote Rogue Trader.
Now updated for the twentieth anniversary of the collapse of Barings, this is his story of a broken system; of a cast of characters blind to anything but profits whatever the cost.
Leeson's tale of boom and bust is an important reminder of the immense power the banking system held and, worryingly, still holds. READ MORE
"MONEY Master the Game will be a huge help to investors. Tony Robbins dropped by my office for a forty-minute appointment that lasted for four hours. It was the most provocative, probing interview of my long career, a reaction shared, I’m sure, by the other souls with strong investment values and sharp financial minds who populate this fine book. This book will enlighten you and reinforce your understanding of how to master the money game and, in the long run, earn you financial freedom." John C. Bogle, founder, the Vanguard Group and the Vanguard Index Funds
"You can’t meet Tony Robbins and listen to his words without being inspired to act. This book will give you the strategies to create financial freedom for yourself and your family." T. Boone Pickens
"Put MONEY on your short list of new books to read... It’s that good" Marketwatch
Tony Robbins turns to the topic that vexes us all: How to secure financial freedom for ourselves and for our families. "If there were a Pulitzer Prize for investment books, this one would win, hands down" Forbes.
Tony Robbins is one of the most revered writers and thinkers of our time. People from all over the world from the disadvantaged to the well-heeled, from twenty-somethings to retirees credit him for giving them the inspiration and the tools for transforming their lives. From diet and fitness, to business and leadership, to relationships and self-respect, Tony Robbins’s books have changed people in profound and lasting ways. Now, for the first time, he has assembled an invaluable "distillation of just about every good personal finance idea of the last forty years" The New York Times.
Based on extensive research and interviews with some of the most legendary investors at work today (John Bogle, Warren Buffett, Paul Tudor Jones, Ray Dalio, Carl Icahn, and many others), Tony Robbins has created a 7-step blueprint for securing financial freedom. With advice about taking control of your financial decisions, to setting up a savings and investing plan, to destroying myths about what it takes to save and invest, to setting up a "lifetime income plan," the book brims with advice and practices for making the financial game not only winnable but providing financial freedom for the rest of your life. READ MORE
People know who Stephen Schwarzman is at least they think they do. He’s the man who took $400,000 and co-founded Blackstone, the investment firm that manages over $500 billion (as of January 2019). He’s the CEO whose views are sought by heads of state. He’s the billionaire philanthropist who founded Schwarzman Scholars, this century’s version of the Rhodes Scholarship, in China. But behind these achievements is a man who has spent his life learning and reflecting on what it takes to achieve excellence, make an impact, and live a life of consequence.
Folding handkerchiefs in his father’s linen shop, Schwarzman dreamed of a larger life, filled with purpose and adventure. His grades and athleticism got him into Yale. After starting his career in finance with a short stint at a financial firm called DLJ, Schwarzman began working at Lehman Brothers where he ascended to run the mergers and acquisitions practice. He eventually partnered with his mentor and friend Pete Peterson to found Blackstone, vowing to create a new and different kind of financial institution.
Building Blackstone into the leading global financial institution it is today didn’t come easy. Schwarzman focused intensely on culture, hiring great talent, and establishing processes that allow the firm to systematically analyze and evaluate risk. Schwarzman’s simple mantra "don’t lose money" has helped Blackstone become a leading private equity and real estate investor, and manager of alternative assets for institutional investors globally. Both he and the firm are known for the rigor of their investment process, their innovative approach to deal making, the diversification of their business lines, and a conviction to be the best at everything they do.
Schwarzman’s story is an empowering, entertaining, and informative guide for anyone striving for greater personal impact. From deal making to investing, leadership to entrepreneurship, philanthropy to diplomacy, Schwarzman has lessons for how to think about ambition and scale, risk and opportunities, and how to achieve success through the relentless pursuit of excellence. Schwarzman not only offers readers a thoughtful reflection on all his own experiences, but in doing so provides a practical blueprint for success. READ MORE
"A must-read that hopefully will be adapted for the screen. Greene lets Wilzig’s effervescent spirit shine through, and his story will appeal to a wide variety of readers." Library Journal
"He taught all of us that you don’t have to be a victim of circumstances. May we one day inhabit a world where more people live by his example." Congressman Donald M. Payne
"Siggi took hardships and made them a badge of honor. This is a story we need right now." Cyrus Webb, Conversations Live
"The most important book of 2021." Hamptons Magazine
Unstoppable is the ultimate immigrant story and an epic David-and-Goliath adventure. While American teens were socializing in ice cream parlors, Siggi was suffering beatings by Nazi hoodlums for being a Jew and was soon deported along with his family to the darkest place the world has ever known: Auschwitz. Siggi used his wits to stay alive, pretending to have trade skills the Nazis could exploit to run the camp. After two death marches and near starvation, he was liberated from camp Mauthausen and went to work for the US Army hunting Nazis, a service that earned him a visa to America. On arrival, he made three vows: to never go hungry again, to support the Jewish people, and to speak out against injustice. He earned his first dollar shoveling snow after a fierce blizzard. His next job was laboring in toxic sweatshops. From these humble beginnings, he became President, Chairman and CEO of a New York Stock Exchange-listed oil company and grew a full-service commercial bank to more than $4 billion in assets.
Siggi’s ascent from the darkest of yesterdays to the brightest of tomorrows holds sway over the imagination in this riveting narrative of grit, cunning, luck, and the determination to live life to the fullest. READ MORE
"Riveting reading... [Henriques] probably knows more than anyone outside the FBI and the Securities and Exchange Commission about the mechanics of the fraud. As a consequence, in The Wizard of Lies she is able to add significant detail to the story... In the end the story holds us not because of the engrossing details of the scam, but because of the human dimension." Liaquat Ahamed, The New York Times Book Review
"An impressive, meticulously reported postmortem... The Wizard of Lies is the definitive book on what Madoff did and how he did it." Bloomberg Businessweek
The inside story of Bernie Madoff and his $65 billion Ponzi scheme, with surprising and shocking new details from Madoff himself. Who is Bernie Madoff, and how did he pull off the biggest Ponzi scheme in history? These questions have fascinated people ever since the news broke about the respected New York financier who swindled his friends, relatives, and other investors out of $65 billion through a fraud that lasted for decades. Many have speculated about what might have happened or what must have happened, but no reporter has been able to get the full story until now.
In The Wizard of Lies, Diana B. Henriques of The New York Times who has led the paper's coverage of the Madoff scandal since the day the story broke has written the definitive book on the man and his scheme, drawing on unprecedented access and more than one hundred interviews with people at all levels and on all sides of the crime, including Madoff's first interviews for publication since his arrest. Henriques also provides vivid details from the various lawsuits, government investigations, and court filings that will explode the myths that have come to surround the story.
A true-life financial thriller, The Wizard of Lies contrasts Madoff's remarkable rise on Wall Street, where he became one of the country’s most trusted and respected traders, with dramatic scenes from his accelerating slide toward self-destruction. It is also the most complete account of the heartbreaking personal disasters and landmark legal battles triggered by Madoff’s downfall the suicides, business failures, fractured families, shuttered charities and the clear lessons this timeless scandal offers to Washington, Wall Street, and Main Street. READ MORE
"Impressive... A corporate history, lucidly told, about the enormous energy conglomerate that has inserted itself into nearly every aspect of daily life, raking in billions along the way." The New York Times
Just as Steve Coll told the story of globalization through ExxonMobil and Andrew Ross Sorkin told the story of Wall Street excess through Too Big to Fail, Christopher Leonard’s Kochland uses the extraordinary account of how one of the biggest private companies in the world grew to be that big to tell the story of modern corporate America.
The annual revenue of Koch Industries is bigger than that of Goldman Sachs, Facebook, and US Steel combined. Koch is everywhere: from the fertilizers that make our food to the chemicals that make our pipes to the synthetics that make our carpets and diapers to the Wall Street trading in all these commodities. But few people know much about Koch Industries and that’s because the billionaire Koch brothers have wanted it that way.
For five decades, CEO Charles Koch has kept Koch Industries quietly operating in deepest secrecy, with a view toward very, very long-term profits. He’s a genius businessman: patient with earnings, able to learn from his mistakes, determined that his employees develop a reverence for free-market ruthlessness, and a master disrupter. These strategies made him and his brother David together richer than Bill Gates.
But there’s another side to this story. If you want to understand how we killed the unions in this country, how we widened the income divide, stalled progress on climate change, and how our corporations bought the influence industry, all you have to do is read this book.
Seven years in the making, Kochland "is a dazzling feat of investigative reporting and epic narrative writing, a tour de force that takes the reader deep inside the rise of a vastly powerful family corporation that has come to influence American workers, markets, elections, and the very ideas debated in our public square. Leonard’s work is fair and meticulous, even as it reveals the Kochs as industrial Citizens Kane of our time" (Steve Coll, Pulitzer Prize–winning author of Private Empire). READ MORE
"The story is even crazier than I expected, and I found myself unable to put it down once I started. This book has everything: elaborate scams, corporate intrigue, magazine cover stories, ruined family relationships, and the demise of a company once valued at nearly $10 billion." Bill Gates
"In Bad Blood, acclaimed investigative journalist John Carreyrou, who broke the story in 2015, presents comprehensive evidence of the fraud perpetrated by Theranos chief executive Elizabeth Holmes... He unveils many dark secrets of Theranos that have not previously been laid bare... The combination of these brave whistle-blowers, and a tenacious journalist who interviewed 150 people (including 60 former employees) makes for a veritable page-turner." Eric Topol, Nature
"Chilling... Reads like a thriller... Carreyrou tells [the Theranos story] virtually to perfection." The New York Times Book Review
"A great and at times almost unbelievable story of scandalous fraud, surveillance, and legal intimidation at the highest levels of American corporate power... The story of Theranos may be the biggest case of corporate fraud since Enron. But it’s also the story of how a lot of powerful men were fooled by a remarkably brazen liar." Yashar Ali, New York Magazine
The full inside story of the breathtaking rise and shocking collapse of Theranos, the one-time multibillion-dollar biotech startup founded by Elizabeth Holmes now the subject of the HBO documentary The Inventor by the prize-winning journalist who first broke the story and pursued it to the end.
In 2014, Theranos founder and CEO Elizabeth Holmes was widely seen as the female Steve Jobs: a brilliant Stanford dropout whose startup "unicorn" promised to revolutionize the medical industry with a machine that would make blood testing significantly faster and easier. Backed by investors such as Larry Ellison and Tim Draper, Theranos sold shares in a fundraising round that valued the company at more than $9 billion, putting Holmes’s worth at an estimated $4.7 billion. There was just one problem: The technology didn’t work. A riveting story of the biggest corporate fraud since Enron, a tale of ambition and hubris set amid the bold promises of Silicon Valley. READ MORE
ONE OF THE BEST BOOKS OF THE YEAR The New York Times and The Economist • Finalist for the New York Public Library’s Helen Bernstein Book Award for Excellence in Journalism
"A modern version of Moby-Dick, with wiretaps rather than harpoons." Jennifer Senior, The New York Times
"If you liked James B. Stewart’s Den of Thieves, Sheelah Kolhatkar’s thrilling Black Edge should be next on your reading list." The Wall Street Journal
"A true-life thriller with Shakespearian stakes... Her chilling account of a blighted industry is as mesmerizing as a human story as it is as a financial one." Fortune
"A tour de force of groundbreaking reporting and brilliant storytelling." Jeffrey Toobin, New York Times bestselling author of American Heiress
The hedge fund industry changed Wall Street. Its pioneers didn’t lay railroads, build factories, or invent new technologies. Rather, they made their billions through financial speculation, by placing bets in the market that turned out to be right more often than not. In hedge fund circles, Steven A. Cohen was revered as one of the greatest traders who ever lived. But that image was shattered when his fund, SAC Capital, became the target of a seven-year government investigation. Prosecutors labeled SAC a "magnet for market cheaters" whose culture encouraged the relentless pursuit of "edge"and even "black edge," which is inside informationand the firm was ultimately indicted and pleaded guilty to charges related to a vast insider trading scheme. Cohen, himself, however, was never charged. Black Edge is a riveting legal thriller that raises urgent questions about the power and wealth of those who sit at the pinnacle of high finance and how they have reshaped the economy. READ MORE
"A provocative read...There are few tomes that coherently map such broad economic histories as well as Mr. Dalio’s. Perhaps more unusually, Mr. Dalio has managed to identify metrics from that history that can be applied to understand today." Andrew Ross Sorkin, The New York Times
"Ray Dalio has a special talent for identifying the key questions of our time. In this sweeping new book, he marshals a variety of economic, social, and political measures to trace the rise and decline of nations. It is a serious contribution and an urgent warning to the West." Henry Kissinger
From legendary investor Ray Dalio, author of the #1 New York Times bestseller Principles, who has spent half a century studying global economies and markets, Principles for Dealing with the Changing World Order examines history’s most turbulent economic and political periods to reveal why the times ahead will likely be radically different from those we’ve experienced in our lifetimesand to offer practical advice on how to navigate them well.
A few years ago, Ray Dalio noticed a confluence of political and economic conditions he hadn’t encountered before. They included huge debts and zero or near-zero interest rates that led to massive printing of money in the world’s three major reserve currencies; big political and social conflicts within countries, especially the US, due to the largest wealth, political, and values disparities in more than 100 years; and the rising of a world power (China) to challenge the existing world power (US) and the existing world order. The last time that this confluence occurred was between 1930 and 1945. This realization sent Dalio on a search for the repeating patterns and cause/effect relationships underlying all major changes in wealth and power over the last 500 years.
In this remarkable and timely addition to his Principles series, Dalio brings readers along for his study of the major empires including the Dutch, the British, and the American putting into perspective the "Big Cycle" that has driven the successes and failures of all the world’s major countries throughout history. He reveals the timeless and universal forces behind these shifts and uses them to look into the future, offering practical principles for positioning oneself for what’s ahead. READ MORE
"Sorkin’s prodigious reporting and lively writing put the reader in the room for some of the biggest-dollar conference calls in history. It’s an entertaining book, brisk book... Sorkin skillfully captures the raucous enthusiasm and riotous greed that fueled this rational irrationality." The New York Times Book Review
"Brings the drama alive with unusual inside access and compelling detail... A deeply researched account of the financial meltdown." BusinessWeek
"Sorkin’s densely detailed and astonishing narrative of the epic financial crisis of 2008 is an extraordinary achievement that will be hard to surpass as the definitive account... as a dramatic close-up, his book is hard to beat." Financial Times
Andrew Ross Sorkin delivers the first true behind-the-scenes, moment-by-moment account of how the greatest financial crisis since the Great Depression developed into a global tsunami. From inside the corner office at Lehman Brothers to secret meetings in South Korea, and the corridors of Washington, Too Big to Fail is the definitive story of the most powerful men and women in finance and politics grappling with success and failure, ego and greed, and, ultimately, the fate of the world’s economy.
"We’ve got to get some foam down on the runway!" a sleepless Timothy Geithner, the then-president of the Federal Reserve of New York, would tell Henry M. Paulson, the Treasury secretary, about the catastrophic crash the world’s financial system would experience.
Through unprecedented access to the players involved, Too Big to Fail re-creates all the drama and turmoil, revealing never disclosed details and elucidating how decisions made on Wall Street over the past decade sowed the seeds of the debacle. This true story is not just a look at banks that were "too big to fail," it is a real-life thriller with a cast of bold-faced names who themselves thought they were too big to fail. READ MORE
Wall Street is the stuff of legend and a source of nightmares, a force so powerful in American society and, indeed, in world economics and culture that it has become an almost universal symbol of both the highest aspirations of commercial success and the basest impulses of greed and deception. How did such a small, concentrated pocket of lower Manhattan came to have such enormous influence in national and world affairs. In this wide-ranging volume, economic historian Charles Geisst answers this question as he provides the first history of Wall Street, ranging from the loose association of traders meeting on New York sidewalks and coffee houses in the late 18th century, to the modern billion-dollar computer-driven colossus of today.
Here is a fascinating chronicle of America's securities industry and of its role in our nation's economic development. Geisst's narrative ranges over two centuries, from just after the Revolutionary War, to the California Gold Rush and the economic boom (for the North) of the Civil War, to the great stock market crash of 1929, right up to the recent junk bond frenzy and the merger mania of the 1980s that culminated in the fall of Drexel Burnham. The book traces many themes the move of industry and business westward in the early 19th century, the rise of the great Robber Barons, the influence of the securities market on incredible growth of industry, particularly in the innovative financing of the railroads and major steel companies and crucial investments in Bell's and Edison's technical innovations. Geisst also looks at the gradual increase in government involvement in Wall Street, revealing how regulation had been minimal at first and many investors had suffered from the abuses of corrupt firms. But with the beginning of the New Deal, the government stepped in to pass a series of laws centered on the Securities Exchange Commission that severely restricted the ways that Wall Street firms could operate. Here began a heated debate that still rages today between those who want unfettered license to operate as they please and those who want the government to regulate the market to curb corruption.
Wall Street is at once a chronicle of the street itself, from the days when the wall was merely a defensive barricade built by Peter Stuyvesant, and in a broader sense it is an engaging economic history of the United States, a tale of profits and losses, endlessly enterprising spirits, and the role Wall Street played in helping America become the most powerful economy in the world. READ MORE
"Edward J. Renehan has brought to life the multi-faceted Jay Gould like nobody else before him. Dark Genius of Wall Street is a sensitive, well-written, thoroughly engaging portrait of the Gilded Age's most colorful robber baron. Highly recommended!" Douglas Brinkley, Director of the Theodore Roosevelt Center for American Civilization, and Distinguished Professor of History, Tulane University
Though reviled for more than a century as Wall Street's greatest villain, Jay Gould was in fact its most original creative genius. Gould was the robber baron's robber baron, the most astute financial and business strategist of his time and also the most widely hated. In Dark Genius of Wall Street, acclaimed biographer Edward J. Renehan, Jr., combines lively anecdotes with the rich social tapestry of the Gilded Age to paint the portrait of the most talented financial buccaneer of his generation and one of the inventors of modern business.
Jay Gould was the robber baron's robber baron: the greatest financial and business genius of his time and also the most widely hated. He could go head-to-head with the likes of J. P. Morgan, Cornelius Vanderbilt, and the U.S. Treasury and almost always outsmart them. Gould was the undisputed master of the nation's railroads and telegraph systems at a time when these were the fastest-growing new technologies of the age. His scheme to corner the gold market in 1869 caused the Black Friday panic. He created new ways of manipulating markets, assembling capital and swallowing his competitors. Many of these methods are now standard practice; others were unique to their circumstances and unrepeatable; others were among the first practices prohibited by the SEC when it came into being in the 1930s.Acclaimed biographer Edward J. Renehan, Jr., recounts the dazzling life story of a figure whose stature in his era outranks that of Bill Gates, in a time when a "corporate takeover battle" was literally a battle, involving not just lawyers and bankers but the buying and selling of judges and occasional confrontations between gangs of armed thugs. Renehan combines lively anecdotes with the rich social tapestry of the Gilded Age to create the first balanced biography of a man who was undoubtedly the greatest financial genius of his ageand one of the inventors of modern business. READ MORE
"Absolutely Splendid... Tremendously Important... Indecently Readable." Michael Thomas The New York Times
"A fast-paced adventure populated with people who could teach the characters in 'Dallas' and 'Dynasty' a thing or two... It is a must read for anyone trying to make sense of the greed decade." USA Today
"A revealing, disturbing tale of what can happen when greed runs rampant." The Seattle Times
"Bursting with details... but told with magical clarity." The Washington Post
"Stewart takes the reader through the maze of arcane Wall Street dealings as if he were writing a detective story." The Philadelphia Inquirer
A #1 bestseller from coast to coast, Den of Thieves tells the full story of the insider-trading scandal that nearly destroyed Wall Street, the men who pulled it off, and the chase that finally brought them to justice.
Pulitzer Prize–winner James B. Stewart shows for the first time how four of the eighties’ biggest names on Wall StreetMichael Milken, Ivan Boesky, Martin Siegel, and Dennis Levine created the greatest insider-trading ring in financial history and almost walked away with billions, until a team of downtrodden detectives triumphed over some of America’s most expensive lawyers to bring this powerful quartet to justice.
Based on secret grand jury transcripts, interviews, and actual trading records, and containing explosive new revelations about Michael Milken and Ivan Boesky written especially for this paperback edition, Den of Thieves weaves all the facts into an unforgettable narrative a portrait of human nature, big business, and crime of unparalleled proportions. READ MORE
A book that stormed both the bestseller list and the public imagination, a book that created a genre of its own, and a book that gets at the heart of Wall Street and the '80s culture it helped define, Barbarians at the Gate has emerged twenty years after the tumultuous deal it so brilliantly recounts as a modern classic a masterpiece of investigatory journalism and a rollicking book of corporate derring-do and financial swordsmanship. The fight to control RJR Nabisco during October and November of 1988 was more than just the largest takeover in Wall Street history. Marked by brazen displays of ego not seen in American business for decades, it became the high point of a new gilded age and its repercussions are still being felt. The tale remains the ultimate story of greed and glory a story and a cast of characters that determined the course of global business and redefined how deals would be done and fortunes made in the decades to come.
Barbarians at the Gate is the gripping account of these two frenzied months, of deal makers and publicity flaks, of an old-line industrial powerhouse (home of such familiar products a Oreos and Camels) that became the victim of the ruthless and rapacious style of finance in the 1980s. As reporters for The Wall Street Journal, Burrough and Helyar had extensive access to all the characters in this drama. They take the reader behind the scenes at strategy meetings and society dinners, into boardrooms and bedrooms, providing an unprecedentedly detailed look at how financial operations at the highest levels are conducted but also a richly textured social history of wealth at the twilight of the Reagan era.
At the center of the huge power struggle is RJR Nabisco's president, the high-living Ross Johnson. It's his secret plan to buy out the company that sets the frenzy in motion, attracting the country's leading takeover players: Henry Kravis, the legendary leveraged-buyout king whose entry into the fray sets off an acquisitive commotion; Peter Cohen, CEO of Shearson Lehman Hutton and Johnson's partner, who needs a victory to propel his company to an unchallenged leadership in the lucrative mergers and acquisitions field; the fiercely independent Ted Forstmann, motivated as much by honor as by his rage at the corruption he sees taking over the business he cherishes; Jim Maher and his ragtag team, struggling to regain credibility for the decimated ranks at First Boston; and an army of desperate bankers, lawyers, and accountants, all drawn inexorably to the greatest prize of their careers and one of the greatest prizes in the history of American business. READ MORE
Confidence Game is a real-world "Emperor's New Clothes," a tale of widespread delusion and one dissenting voice in the era leading up to the worst financial disaster since the Great Depression. Wall Street appeared to have found the secret for turning everything from risky mortgages to credit card bills into super-safe, triple-A-rated securities. Behind the facade of safety, the financial system had become dangerously fragile. Few had anything to gain from pointing out the risk.
Bill Ackman did. In 2002, the hedge fund manager issued a critical research report on MBIA Inc., the owner of a triple-A-rated bond insurer that played a central role in the financial alchemy on Wall Street. "This company will spiral downward," Ackman warned, and he placed a bet against MBIA that would earn his investors billions of dollars if it did.
The backlash was swift. Ackman was branded a fraud in the press and investigated by Eliot Spitzer and the SEC. Despite the scrutiny, he spent years telling anyone who would listen why MBIA was a catastrophe waiting to happen. With the onset of the credit crisis, the problems exposed turned out to be bigger than MBIA. An unquestioning acceptance of credit ratings, a blind eye to leverage, a dangerous reliance on financial models, and the abandonment of common sense had become part of a deeply flawed financial system. The collapse humbled nearly every large financial institution and plunged the country into recession. Ackman's story captures an era of delusional confidence, when debt exploded yet risk appeared to vanish. Told by award-winning bond market reporter Christine Richard, Confidence Game is a behind-the-scenes look at how warnings went unheeded as Wall Street careened toward disaster.
An expose on the delusion, greed, and arrogance that led to America's credit crisis The collapse of America's credit markets in 2008 is quite possibly the biggest financial disaster in U.S. history. Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff is the story of Bill Ackman's six-year campaign to warn that the $2.5 trillion bond insurance business was a catastrophe waiting to happen. Branded a fraud by the Wall Street Journal and New York Times, and investigated by Eliot Spitzer and the Securities and Exchange Commission, Ackman later made his investors more than $1 billion when bond insurers kicked off the collapse of the credit markets. READ MORE
"Billion Dollar Loser would be absorbing enough if it were just one man’s grandiosity, but Wiedeman has a larger argument to make about what Neumann represents." Jennifer Szalai, New York Times
"A rollicking Hyperloop of a ride." San Francisco Chronicle
The inside story of WeWork and its CEO, Adam Neumann, which tells the remarkable saga of one of the most audacious, and improbable, rises and falls in American business history. In its earliest days, WeWork promised the impossible: to make the American work place cool. 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. READ MORE
"It’s one of the best and most original finance books in years." Jason Zweig, The Wall Street Journal
"The Psychology of Money is bursting with interesting ideas and practical takeaways. Quite simply, it is essential reading for anyone interested in being better with money. Everyone should own a copy." James Clear, Author, million-copy bestseller, Atomic Habits
"Morgan Housel is that rare writer who can translate complex concepts into gripping, easy-to-digest narrative. The Psychology of Money is a fast-paced, engaging read that will leave you with both the knowledge to understand why we make bad financial decisions and the tools to make better ones." Annie Duke, Author, Thinking in Bets
"Housel's observations often hit the daily double: they say things that haven't been said before, and they make sense." Howard Marks, Director and Co-Chairman, Oaktree Capital & Author, The Most Important Thing and Mastering the Market Cycle
Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people.
Money investing, personal finance, and business decisions is typically taught as a math-based field, where data and formulas 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 own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.
In The Psychology of Money, award-winning author Morgan Housel 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 topics. READ MORE
"The many young people who seem to share [a] gloomy view of the future should read the new book by Laurence B. Siegel" The Wall Street Journal
"Laurence B. Siegel... on the nature and benefits of economic growth and progress." Tyler Cowen
"A wonderful antidote to apocalyptic predictions about humanity's future. It's easy to forget that, in the span of a single lifetime, the lives of billions have been improved and enriched by innovation and progress." Professor William N. Goetzmann, Yale University, author of Money Changes Everything
Our world seems to be experiencing stagnant economic growth, climatic deterioration, dwindling natural resources, and an unsustainable level of population growth. The world is doomed, they argue, and there are just too many problems to overcome. But is this really the case? In Fewer, Richer, Greener, author Laurence B. Siegel reveals that the world has improved and will continue to improve in almost every dimension imaginable.
This practical yet lighthearted book makes a convincing case for having gratitude for today’s world and optimism about the bountiful world of tomorrow. Life has actually improved tremendously. We live in the safest, most prosperous time in all human history. Whatever the metric food, health, longevity, education, conflict it is demonstrably true that right now is the best time to be alive. The recent, dramatic slowing in global population growth continues to spread prosperity from the developed to the developing world. Technology is helping billions of people rise above levels of mere subsistence. This technology of prosperity is cumulative and rapidly improving: we use it to solve problems in ways that would have be unimaginable only a few decades ago.
Fewer, Richer, Greener: Prospects for Humanity in an Age of Abundance is a must-read for anyone who wishes to regain hope for the present and wants to build a better future. READ MORE
"Merrill remains a significant firm with a large customer base, but it would be foolish to say that it represents a catalytic populist social movement bent on reshaping society. And yet that is what it once was... The book sheds vital light on two eras: the early years that saw the expansion of the firm and of populist finance and on the bleak-post-millennial decade when its confidence and vision collapsed along with much of Wall Street's reputation... As Mr Smith's book shows, Merrill's success had broad implications. Sadly, so did its travails." The Economist
The fascinating story behind the company that revolutionized the financial world Catching Lightning in a Bottle traces the complete history of Merrill Lynch and the company's substantial impact on the world of finance, from the birth of the once-mighty company to its inauspicious end. Throughout its ninety-four year history, Merrill Lynch revolutionized finance by bringing Wall Street to Main Street, operating under a series of guidelines known as the Principles. These values allowed the company to gain the trust of small investors by putting the clients' interests first, driving a business trajectory that expanded capital markets and fueled the growth of the American post-war economy. Written by the son of Merrill Lynch co-founder Winthrop H. Smith, this book describes the creation and evolution of the company from Charlie Merrill's one-man shop in 1914 to its acquisition by Bank of America in 2008.
Author Winthrop H. Smith Jr. spent twenty-eight years at the company his father co-founded, bringing a unique perspective to bear in telling the story of the company that democratized the stock market and eventually fell from its lofty perch. Learn why the industry initially scoffed at Charles Merrill's "radical" investment ideas. Discover the origin of the Principles, and how they drove operations for nearly a century. Find out why the author left a successful Wall Street career, and why it was such a smart move. Examine the culture and values that built Merrill Lynch into one of the world's most successful and respected companies.
Revolutionary vision is rare, and enduring success is even more so. When a single organization demonstrates both of those characteristics, it is felt throughout the world. Discover the fascinating story behind Merrill Lynch and the men who built it from an insider's perspective in Catching Lightning in a Bottle. READ MORE
"Stone's book, at last, gives us a Bezos biography that can fit proudly on a shelf next to the best chronicles of America's other landmark capitalists." Forbes
"Stone's tale of the birth, near-death, and impressive revival of an iconic American company is well worth your time." Matthew Yglesias, Slate
"An engaging and fascinating read... An excellent chronicle of Amazon's rise... A gift for entrepreneurs and business builders of the new generation." Business Insider
"Outstanding... An authoritative, deeply reported, scoopalicious, nuanced, and balanced take that pulls absolutely no punches." Adam Lashinsky, Fortune
The definitive story of Amazon.com, one of the most successful companies in the world, and of its driven, brilliant founder, Jeff Bezos.
Amazon.com started off delivering books through the mail. But its visionary founder, Jeff Bezos, wasn't content with being a bookseller. He wanted Amazon to become the everything store, offering limitless selection and seductive convenience at disruptively low prices. To do so, he developed a corporate culture of relentless ambition and secrecy that's never been cracked. Until now. Brad Stone enjoyed unprecedented access to current and former Amazon employees and Bezos family members, giving readers the first in-depth, fly-on-the-wall account of life at Amazon. Compared to tech's other elite innovators -- Jobs, Gates, Zuckerberg -- Bezos is a private man. But he stands out for his restless pursuit of new markets, leading Amazon into risky new ventures like the Kindle and cloud computing, and transforming retail in the same way Henry Ford revolutionized manufacturing. READ MORE
"If you care about what it takes to be a successful CEO in the most complicated market ever, you will want to read The House of Dimon. Patricia Crisafulli has captured the growth and development of one of the most outstanding CEOs of our time." Frank Zarb, Managing Director, Hellman & Friedman LLC
"The House of Dimon is a great read, allowing you to observe Dimon's actual strategic actions. He's a leader who doesn't obsess over predicting the future but sets his organization on its toes ready to move in any direction when a problem or opportunity arises. For readers interested in real leadership, it's an action thriller. Dimon walks the talk doing the right thing even when it hurts in the short term." William J. White, retired chairman and CEO, Bell & Howell Company
A behind-the-scenes look at Wall Street's top banker. Following the eleventh-hour rescue of Bear Stearns by JP Morgan, Jamie Dimon's profile reached stratospheric levels. And while the deals and decisions he's made have usually turned out to be the right ones, his journey to the top of the financial world has been anything but easy.
Now, in The House of Dimon, former business journalist Patricia Crisafulli goes behind the scenes to recount the amazing events that have shaped Dimon's career, from his rise to prominence as Sandy Weill's protŽgŽ at Citigroup to the drama surrounding his purchase of Bear Stearns and Washington Mutual. Each step of the way, this engaging book provides insider accounts of how Dimon successfully acquired and integrated companies, created efficiencies, and grew bottom-line results as the consummate hands-on manager.
Includes interviews with Dimon himself, Sandy Weill, and colleagues who've known Dimon over the course of his career Shows how Dimon's management style and talent for taking calculated risks have allowed him to excel where many others have failed. Places Dimon in the context of contemporary Wall Street, an environment that has destroyed several top CEOs. During one of the most difficult and tumultuous periods in Wall Street history, Jamie Dimon has survived and thrived. The House of Dimon reveals how he's done it and explores what lies ahead for Dimon, as he attempts to grow JPMorgan in the face of the unrelenting pressures of Wall Street. READ MORE
Here is the book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom.
Although the media track him constantly, Buffett himself has never told his full life story. His reality is private, especially by celebrity standards. Indeed, while the homespun persona that the public sees is true as far as it goes, it goes only so far. Warren Buffett is an array of paradoxes. He set out to prove that nice guys can finish first. Over the years he treated his investors as partners, acted as their steward, and championed honesty as an investor, CEO, board member, essayist, and speaker. At the same time he became the world’s richest man, all from the modest Omaha headquarters of his company Berkshire Hathaway. None of this fits the term "simple."
When Alice Schroeder met Warren Buffett she was an insurance industry analyst and a gifted writer known for her keen perception and business acumen. Her writings on finance impressed him, and as she came to know him she realized that while much had been written on the subject of his investing style, no one had moved beyond that to explore his larger philosophy, which is bound up in a complex personality and the details of his life. Out of this came his decision to cooperate with her on the book about himself that he would never write.
Never before has Buffett spent countless hours responding to a writer’s questions, talking, giving complete access to his wife, children, friends, and business associates opening his files, recalling his childhood. It was an act of courage, as The Snowball makes immensely clear. Being human, his own life, like most lives, has been a mix of strengths and frailties. Yet notable though his wealth may be, Buffett’s legacy will not be his ranking on the scorecard of wealth; it will be his principles and ideas that have enriched people’s lives. This book tells you why Warren Buffett is the most fascinating American success story of our time. READ MORE
"As a portrait of finance, politics and the world of avarice and ambition on Wall Street, the book has the movement and tension of an epic novel. It is, quite simply, a tour de force." The New York Times Book Review
"As informative and entertaining a history, especially of the period from 1880 to 1930, as this reviewer has ever read... Nowhere has our tenuous financial system been better described than by Chernow." John Rothchild, Los Angeles Times Book Review
"Chernow deftly mixes biography with economics and explicates arcane matters of high finance with sparkling clarity... A fascinating historical journey from Charles Dickens’ London to Tom Wolfe’s New York." David M. Kennedy, The Atlantic Monthly
"An astonishingly detailed and fascinating story of the Morgan banks and the men who have run them. Chernow uses his gift for description to bring out vividly the personalities of his principals." Don Keown, San Francisco Chronicle
Published to critical acclaim twenty years ago, and now considered a classic, The House of Morgan is the most ambitious history ever written about American finance. It is a rich, panoramic story of four generations of Morgans and the powerful, secretive firms they spawned, ones that would transform the modern financial world. Tracing the trajectory of J. P. Morgan’s empire from its obscure beginnings in Victorian London to the financial crisis of 1987, acclaimed author Ron Chernow paints a fascinating portrait of the family’s private saga and the rarefied world of the American and British elite in which they moved a world that included Charles Lindbergh, Henry Ford, Franklin Roosevelt, Nancy Astor, and Winston Churchill.
A masterpiece of financial history it was awarded the 1990 National Book Award for Nonfiction and selected by the Modern Library as one of the 100 Best Nonfiction Books of the Twentieth CenturyThe House of Morgan is a compelling account of a remarkable institution and the men who ran it, and an essential book for understanding the money and power behind the major historical events of the last 150 years. READ MORE
"If you read just one book on investing during your lifetime, make it this one" Fortune
"By far the best book on investing ever written." Warren Buffett
"The wider Mr. Graham’s gospel spreads, the more fairly the market will deal with its public." Barron's
This classic text is annotated to update Graham's timeless wisdom for today's market conditions...
The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949.
Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles.
Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals. READ MORE
"Although Reminiscences...was first published some seventy years ago, its take on crowd psychology and market timing is a s timely as last summer's frenzy on the foreign exchange markets." Worth magazine
"The most entertaining book written on investing is Reminiscences of a Stock Operator, by Edwin Lefèvre, first published in 1923." The Seattle Times
"After twenty years and many re-reads, Reminiscences is still one of my all-time favorites." Kenneth L. Fisher, Forbes
"A must-read classic for all investors, whether brand-new or experienced." William O'Neil, founder and Chairman, Investor's Business Daily
"Whilst stock market tomes have come and gone, this remains popular and in print eighty years on." GQ magazine
First published in 1923, Reminiscences of a Stock Operator is the most widely read, highly recommended investment book ever. Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your life and your portfolio. READ MORE
"Lots of entrepreneurs make money. Lots of entrepreneurs who make money write books. Few of those books make you glad they did. This one does." The New York Times Book Review
Michael Bloomberg rose from middle-class Medford, Massachusetts to become a pioneer of the computer age, mayor of New York, one of the world's most generous philanthropists, and one of America's most respectedand fearlessvoices on gun violence, climate change, public health, and other issues. And it all happened after he got fired at the age of 39.
This is his story, told in his own words and in his own candid style.
After working his way through college and graduating from Harvard Business School, Bloomberg landed on the bottom rung of a Wall Street firm and worked his way up to partner. But in 1981, he was forced out of the firm. With an idea for computerizing financial data, Bloomberg started his own company. And, since personal computers barely existed, he built his own. Specially designed for Wall Street traders and analysts, the Bloomberg Terminal revolutionized the world of finance. Under Bloomberg's leadership, his company grew rapidly, playing David to the Goliaths of finance and mediaand making Bloomberg one of the world's wealthiest men.
Bloomberg by Bloomberg offers an intimate look at the creative mind and driven personality behind the Bloomberg brand. He describes in vivid detail his early Wall Street career, both the victories and frustrations, including a personal account of what it was like to be fired and given $10 million on the same day.
He combines personal stories with penetrating insights into business and technology, while also offering lessons from his unique approach to management. There is no one in business or politics quite like himor who has had more success in both areas. All author's royalties from Bloomberg by Bloomberg are donated to the Committee to Protect Journalists. READ MORE
The unusual, frequently outrageous autobiography of one of the great business geniuses of our time, Richard Branson.
"Few people in contemporary business are as colorful, shrewd, and irreverent, and probably no one’s nearly as much fun to be around... Branson embodies America’s cherished mythology of the iconoclastic, swashbuckling entrepreneur." GQ
"Branson wears his fame and money exceedingly well: no necktie, no chauffeur, no snooty clubs... What continues to set Branson apart is the unique -- and, to some, baffling -- nature of his ambition... He isn’t interested in power in the usual sense of influencing other people... Boiled down to its singular essence, Richard Branson just wants to have fun." Newsweek
"Branson, a self-described ‘adventure capitalist,’ is a business-creation engine who was clearly born in the wrong place... Those business instincts are matched by an ability to motivate people who work for him. And who wouldn’t want to -- Branson seems hell-bent on making sure that everybody, but everybody, is having as much fun as he is." Time
In little more than twenty-five years, Richard Branson spawned nearly a hundred successful ventures. From the airline business (Virgin Atlantic Airways), to music (Virgin Records and V2), to cola (Virgin Cola), and others ranging from financial services to bridal wear, Branson has a track record second to none. Many of his companies were started in the face of entrenched competition. The experts said, "Don't do it." But Branson found golden opportunities in markets in which customers have been ripped off or underserved, where confusion reigns, and the competition is complacent.
In this stressed-out, overworked age, Richard Branson gives us a new model: a dynamic, hardworking, successful entrepreneur who lives life to the fullest. Branson has written his own "rules" for success, creating a group of companies with a global presence, but no central headquarters, no management hierarchy, and minimal bureaucracy. Family, friends, fun, and adventure are equally important as business in his life. Losing My Virginity is a portrait of a productive, sane, balanced life, filled with rich and colorful stories. READ MORE
"Thiel has drawn upon his wide-ranging and idiosyncratic readings in philosophy, history, economics, anthropology, and culture to become perhaps America’s leading public intellectual today" Fortune
"Crisply written, rational and practical, Zero to One should be read not just by aspiring entrepreneurs but by anyone seeking a thoughtful alternative to the current pervasive gloom about the prospects for the world." The Economist
If you want to build a better future, you must believe in secrets.
The great secret of our time is that there are still uncharted frontiers to explore and new inventions to create. In Zero to One, legendary entrepreneur and investor Peter Thiel shows how we can find singular ways to create those new things.
Thiel begins with the contrarian premise that we live in an age of technological stagnation, even if we’re too distracted by shiny mobile devices to notice. Information technology has improved rapidly, but there is no reason why progress should be limited to computers or Silicon Valley. Progress can be achieved in any industry or area of business. It comes from the most important skill that every leader must master: learning to think for yourself.
Doing what someone else already knows how to do takes the world from 1 to n, adding more of something familiar. But when you do something new, you go from 0 to 1. The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. Tomorrow’s champions will not win by competing ruthlessly in today’s marketplace. They will escape competition altogether, because their businesses will be unique.
Zero to One presents at once an optimistic view of the future of progress in America and a new way of thinking about innovation: it starts by learning to ask the questions that lead you to find value in unexpected places. READ MORE
More than one million copies have been sold of this seminal book on investing in which legendary mutual-fund manager Peter Lynch explains the advantages that average investors have over professionals and how they can use these advantages to achieve financial success.
Peter Lynch is America's number-one money manager. His mantra: Average investors can become experts in their own field and can pick winning stocks as effectively as Wall Street professionals by doing just a little research.
Now, in a new introduction written specifically for this edition of One Up on Wall Street, Lynch gives his take on the incredible rise of Internet stocks, as well as a list of twenty winning companies of high-tech '90s. That many of these winners are low-tech supports his thesis that amateur investors can continue to reap exceptional rewards from mundane, easy-to-understand companies they encounter in their daily lives.
Investment opportunities abound for the layperson, Lynch says. By simply observing business developments and taking notice of your immediate world -- from the mall to the workplace -- you can discover potentially successful companies before professional analysts do. This jump on the experts is what produces "tenbaggers", the stocks that appreciate tenfold or more and turn an average stock portfolio into a star performer.
The former star manager of Fidelity's multibillion-dollar Magellan Fund, Lynch reveals how he achieved his spectacular record. Writing with John Rothchild, Lynch offers easy-to-follow directions for sorting out the long shots from the no shots by reviewing a company's financial statements and by identifying which numbers really count. He explains how to stalk tenbaggers and lays out the guidelines for investing in cyclical, turnaround, and fast-growing companies.
Lynch promises that if you ignore the ups and downs of the market and the endless speculation aboutinterest rates, in the long term (anywhere from five to fifteen years) your portfolio will reward you. This advice has proved to be timeless and has made One Up on Wall Street a number-one bestseller. And now this classic is as valuable in the new millennium as ever. READ MORE