Tag: Decisions
Freefall – Joseph Stiglitz
This is the best book so far on the financial crisis. Joseph Stiglitz, the Nobel prize-winning economist, is knowledgeable about the historical background, immersed...
Look back in anger at the spirit of the age
Every era spawns financial follies. Every era spawns observations that, with hindsight, protagonists wish they had not made.
Scroogenomics – Joel Waldfogel
Processes matter to us as well as outcomes, and so we genuinely appreciate gifts even if we don’t really care for the item.
Chaotic evolution defines the market economy
Markets are not a well-oiled machine: they are a constantly changing, adaptive biological system.
True survivors do not clutch at straws
Maintain a clear sense of long-term objectives but acknowledge the limits on your day-to-day actions.
Undone, but still not understood
One lesson of recent events is that there seem to be no limits to the greed of the greedy. But perhaps the explanation is simply the one Madoff gave to the judge who sentenced him: “I made a mistake.”
George Eliot wrote the book on moral hazard
Do not waste any time on sermons and the prohibition. Even if the Good Lord himself were to deliver the Sermon on the Mount, He would be ignored. Hardened gamblers only give up when they have made the resolution to quit themselves.
Dismal, yes, but economics flies off the shelves
If you want a book on economics to take to the beach, you are spoiled for choice at the airport bookstall. What you will find falls into three categories: Thump books, microeconomics books with little economics and the macroeconomic story-teller.
Managers doomed to repeat the mistakes of history
The Whiz Kids’ capacity for analysis far exceeded their knowledge of the world to which it was applied.
Dedicated follower? Or asset allocator?
Three simple rules – pay less, diversify more, and be contrarian – will serve almost everyone well who invests.