July 1, 2010
News & Opinion: Too Big To Fail again!
From Penguin: "Andrew Ross Sorkin’s Too Big to Fail won a Loeb Award for the Best Business Book of the Year. The Loeb, an annual competition administered by the UCLA Anderson School of Management, is considered the highest award in business journalism." Earlier this year, 800-CEO-READ awarded Sorkin's book, Business Book of the Year in our annual Business Book Awards. We did think it was an incredible book, but it's nice to know we're in agreement with an institution like UCLA! Here's video from our 2009 awards event in NYC:
NEWS & OPINION: The Economist's Page-turners
By 800-CEO-READ, published December 8, 2009, at 1:12 AM – Filed under: Management & Workplace Culture
The Economist has released their Best Books List of 2009. In their Economics & Business category, they chose: Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial Systems—and Themselves by Andrew Ross Sorkin, Viking Lords of Finance: The Bankers Who Broke the World by Liaquat Ahamed, Penguin Press How Markets Fail: The Logic of Economic Calamities by John Cassidy, Farrar Straus Giroux Poorly Made in China: An Insider’s Account of the Tactics Behind China’s Production Game by Paul Midler, John Wiley & Sons Check out The Economist's Page-turners for summaries of these titles and their picks in other categories including Politics & Current Affairs, Biography & Memoirs, History, Science & Technology, Culture & Society and Fiction.
NEWS & OPINION: The Greatest Gamble Ever
By 800-CEO-READ, published April 20, 2010, at 10:27 PM – Filed under: Management & Workplace Culture
Gregory Zuckerheim's The Greatest Trade Ever: The Behind-The-Scenes Story of How John Paulson Defied Wall Street and Made Financial History tells of how Paulson "realized something few others suspected—that the housing market and the value of sub-prime mortgages we grossly inflated and headed for a major fall. " But it turns out that "The Greatest Trade Ever" may have been something very akin to a rigged bet. What the book didn't tell us (because it was unknown at the time) is that Paulson had shaped the portfolio of mortgages—hand-picking the bonds it contained for Goldman Sachs—that he bet against to make his fortune.
NEWS & OPINION: The 800-CEO-READ Business Book Awards of 2009
By 800-CEO-READ, published December 15, 2009, at 3:00 PM – Filed under: Management & Workplace Culture
The 800-CEO-READ Business Book of the Year Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System—And Themselves by Andrew Ross Sorkin, Viking Books, 624 pages, $32. 95 Even though Too Big to Fail was written during the same year the financial collapse occurred, Andrew Ross Sorkin has written what we predict will be the definitive book on the subject. Sorkin not only tells a gripping “perfect storm” story—reporting the gory details as our 401k’s disappeared and our financial system became nationalized—but he humanizes the players as well, resulting in an imminently readable, albeit lengthy, book.
NEWS & OPINION: The Quants
By 800-CEO-READ, published February 26, 2010, at 2:12 AM – Filed under: Management & Workplace Culture
I've not yet finished reading Scott Patterson's The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It, but I'd like to go on record now in disagreement with The Economist's review of the book. I do agree that Patterson's prose can get a bit "purple" in places, but I think his focus on the quantitative models developed and used on Wall Street over the last three decades is an important one. And the way he explores the topic—through the stories of the individuals who created those models—keeps the reader engaged in a tale that might otherwise turn too academic for most.
NEWS & OPINION: Books as Intellectual Assets in an Economic Discourse
By 800-CEO-READ, published March 18, 2010, at 1:30 PM – Filed under: Management & Workplace Culture
Michael Lewis's latest book, The Big Short: Inside the Doomsday Machine, was released this week to a lot of media attention and bestseller lists. We'll review the book more in depth on this site and elsewhere over the coming weeks, but its very release is what's giving me hope this week. You see, for all the doom-and-gloom surrounding publishing these days, publishers themselves have done a quietly masterful job of finding books that put the Great Recession, and what caused it, in focus over the last year and a half—Michael Lewis being but the latest (albeit one of the finest) voices in the choir that publishers have been directing.