What I Learned Losing a Million Dollars

Author: Jim Paul
Publisher: Columbia University Press
ISBN: 0231164688
Format: PDF, Kindle
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Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it all--his fortune, his reputation, and his job--in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors. This book--winner of a 2014 Axiom Business Book award gold medal--begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. It then describes the circumstances leading up to Paul's $1.6 million loss and the essential lessons he learned from it--primarily that, although there are as many ways to make money in the markets as there are people participating in them, all losses come from the same few sources. Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. While all analytical methods have some validity and make allowances for instances in which they do not work, psychological factors can keep an investor in a losing position, causing him to abandon one method for another in order to rationalize the decisions already made. Paul and Moynihan's cautionary tale includes strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing, trading, and speculating.

We Learn Nothing

Author: Tim Kreider
Publisher: Simon and Schuster
ISBN: 1439198713
Format: PDF, ePub, Docs
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A New York Times political cartoonist and writer presents a collection of his most popular essays and drawings about life and government hypocrisy, exploring the darkly comic aspects of such topics as falling in love with unlikeable people, managing a friend with outspoken political views and reacting to a long acquaintance's sex-change operation. By the creator of The Pain--When Will It End?

The Business of Options

Author: Martin P. O'Connell
Publisher: John Wiley & Sons
ISBN: 0471151254
Format: PDF
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The Business of Options shows how to conduct a professional options business. While it addresses the principles and practices of option trading and hedging in great detail, the book is the first to do so from a management perspective. O'Connell's extensive experience in option trading, training, and consulting enables the book to offer a unique combination of sophistication, clarity and insight. Most option books that are written for professionals focus on advanced math or on specific trades. This book goes farther, incorporating broad strategic considerations and exploring the implications of likely human behavior. It often challenges conventional wisdom of "what works" in the options business. Its intuitive approach to complex issues involving options enables readers to stretch their mathematical capabilities. Its down-to-earth explanations about the business of options reflect both the optimism and skepticism of a seasoned practitioner in the option market who has, for over 20 years, advised and trained professional dealers and users of options around the world.

Memos from the Chairman

Author: Alan C. Greenberg
Publisher: Workman Publishing
ISBN: 9780761103462
Format: PDF, Mobi
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The chairman of the board of Bear Stearns investment bank shares his innovative approach to business in a collection of witty, trenchant, and inspirational thoughts on success, bureaucracy, arrogance, telephone manners, and other topics.

The Apprenticeship of Duddy Kravitz

Author: Mordecai Richler
Publisher: Emblem Editions
ISBN: 1551995646
Format: PDF, Kindle
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The Apprenticeship of Duddy Kravitz is the novel that established Mordecai Richler as one of the world’s best comic writers. Growing up in the heart of Montreal’s Jewish ghetto, Duddy Kravitz is obsessed with his grandfather’s saying, “A man without land is nothing.” In his relentless pursuit of property and his drive to become a somebody, he will wheel and deal, he will swindle and forge, he will even try making movies. And in spite of the setbacks he suffers, the sacrifices he must make along the way, Duddy never loses faith that his dream is worth the price he must pay. This blistering satire traces the eventful coming-of-age of a cynical dreamer. Amoral, inventive, ruthless, and scheming, Duddy Kravitz is one of the most magnetic anti-heroes in literature, a man who learns the hard way that dreams are never exactly what they seem, even when they do come true. From the Trade Paperback edition.

Twelve Against the Gods Reboot

Author: William Bolitho
Publisher: Createspace Independent Publishing Platform
ISBN: 9781542786652
Format: PDF
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"Really good" Elon Musk, CEO, Tesla Motors "An adventure of bucking established practices in pursuit of greatness" T. Randall, Bloomberg Twelve Against the Gods is the story of adventure and interpretation of the full-spectrum of "adventure" types through the lives and life lessons of Alexander the Great to Casanova, Mohammed to Isadora Duncan, Seraphina to Woodrow Wilson. It was originally written under Brit-born, South African William Ryall's nom de plume, William Bolitho, known to his fellow friends as "Bill." These friends included fellow adventurers and writers Ernest Hemingway and Noel Coward. Just a year after achieving enormous recognition with "Twelve Against the Gods," Bolitho died at age 39; ironically from appendicitis (vs. lion or tarmac impact). Many, including Elon Musk, consider it one of the "really good" books. Why? It's entertaining, yes, but it's also instructive to budding iconoclasts that want to glean operative knowledge through reading "the adventure of bucking established practices in pursuit of greatness" (source: T. Randall, Bloomberg) We've taken Bolitho's original text and added new photography, illustrations and graphics, while updating a few (now) archaic words, and cleaning up the original layout to better present Bolitho's original work. A work that is still as relevant today as it was 90 years ago, but better appreciated today through a fresher, more contemporary presentation. There are also a few hidden bonuses in this edition, you'll have to find them yourself. However, none of the original writing was changed (ideas, opinions, phrasing). Note: While we corrected some (minor) grammatical & type-setting errors in the original text, and "translated" some of the language that was outdated, to make the text less confusing (e.g., (e.g. "Mohamet" to "Mohammad"), we've preserved all of Bolitho's more "creative" English (neologisms) to maintain the character and flavor of the original.

This Time Is Different

Author: Carmen M. Reinhart
Publisher: Princeton University Press
ISBN: 0691152640
Format: PDF, ePub, Mobi
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Examines financial crises of the past and discusses similarities between these events and the current crisis, presenting and comparing historical patterns in bank failures, inflation, debt, currency, housing, employment, and government spending.

Measure of My Days

Author: Florida Scott-Maxwell
Publisher: Knopf
ISBN: 0307828344
Format: PDF, ePub, Docs
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At eighty-two, Florida Scott-Maxwell felt impelled to write about her strong reactions to being old, and to the time in which we live. Until almost the end this document was not intended for anyone to see, but the author finally decided that she wanted her thoughts and feelings to reach others. Mrs. Scott-Maxwell writes: “I was astonished to find how intensely one lives in one’s eighties. The last years seemed a culmination and by concentrating on them one became more truly oneself. Though old, I felt full of potential life. It pulsed in me even as I was conscious of shrinking into a final form which it was my task and stimulus to complete.” The territory of the old is not Scott-Maxwell’s only concern. In taking the measure of the sum of her days as a woman of the twentieth century, she confronts some of the most disturbing conflicts of human nature—the need for differentiation as against equality, the recognition of the evil forces in our nature—and her insights are challenging and illuminating. The vision that emerges from her accumulated experience of life makes this a remarkable document that speaks to all ages.

Financial Origami

Author: Brendan Moynihan
Publisher: John Wiley & Sons
ISBN: 9781118030325
Format: PDF, ePub
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An in-depth look at the failure of Wall Street's "proven" financial models Origami is the Japanese art of folding paper into intricate and aesthetically attractive shapes. As such, it is the perfect metaphor for the Wall Street financial engineering model, which ultimately proved to be the underlying cause of the 2008 financial crisis. In Financial Origami, Brendan Moynihan describes how the Wall Street business model evolved from a method to transfer risk into a method for manufacturing risk. Along the way, this timely book skillfully dissects financial engineering and addresses how it's often a mechanism to evade regulatory constraints, provide institutional investors with customized products, and, of course, generate revenue for financial engineers. Reveals how Wall Street's financial engineering business model morphed into something destructive Highlights how the origami model worked well in the comparatively stable years of the early 2000s, when there was less risk to transfer Discusses how Wall Street began manufacturing risk by creating products that multiplied risk exposures and encouraged subprime lending With the collapse of Lehman Brother the Wall Street business model effectively broke. But there are many lessons to be learned from what has transpired, and Financial Origami will show you what they are.

Boyd

Author: Robert Coram
Publisher: Little, Brown
ISBN: 9780759527775
Format: PDF, ePub, Mobi
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John Boyd may be the most remarkable unsung hero in all of American military history. Some remember him as the greatest U.S. fighter pilot ever -- the man who, in simulated air-to-air combat, defeated every challenger in less than forty seconds. Some recall him as the father of our country's most legendary fighter aircraft -- the F-15 and F-16. Still others think of Boyd as the most influential military theorist since Sun Tzu. They know only half the story. Boyd, more than any other person, saved fighter aviation from the predations of the Strategic Air Command. His manual of fighter tactics changed the way every air force in the world flies and fights. He discovered a physical theory that forever altered the way fighter planes were designed. Later in life, he developed a theory of military strategy that has been adopted throughout the world and even applied to business models for maximizing efficiency. And in one of the most startling and unknown stories of modern military history, the Air Force fighter pilot taught the U.S. Marine Corps how to fight war on the ground. His ideas led to America's swift and decisive victory in the Gulf War and foretold the terrorist attacks of September 11, 2001. On a personal level, Boyd rarely met a general he couldn't offend. He was loud, abrasive, and profane. A man of daring, ferocious passion and intractable stubbornness, he was that most American of heroes -- a rebel who cared not for his reputation or fortune but for his country. He was a true patriot, a man who made a career of challenging the shortsighted and self-serving Pentagon bureaucracy. America owes Boyd and his disciples -- the six men known as the "Acolytes" -- a great debt. Robert Coram finally brings to light the remarkable story of a man who polarized all who knew him, but who left a legacy that will influence the military -- and all of America -- for decades to come. ..