The definition of “how to” is providing detailed and practical advice. How to Invest instead offers a series of interviews with investment masters at The definition of “how to” is providing detailed and practical advice. How to Invest instead offers a series of interviews with investment masters at the top of their game, reflecting on how they entered their careers and their most astounding deals and track records. As such, they began their careers in the ‘70s and ‘80s – a golden time when a young person with no experience could step into a major bank or investment firm and anticipate attention, mentoring and training. And now they manage funds that are worth billions.
Many attended Ivy League schools: “if [Harvard Business School] doesn’t teach you anything else, it teaches you to convince people to let you do a job that you arguably are not qualified to do, notes Kim Lew, president and CEO of Columbia Investment Management Company.
But such degrees are not essential. Most of the investors are humble, crediting mentors and clients for early support. Adebayo Ogunlesi, chairman and managing partner of Global Infrastructure Partners, concedes “the only thing required is you have to be lucky, because we raised money at a time when people were giving money to people who are not experienced. I hate to think what reception we’d have gotten if we tried to do it today.”
David Rubenstein poses solid questions, prompting each investor to reflect and analyze their success and a market that has evolved over the decades. The book offers insights into the mindsets behind financial careers ranging from public equities and endowments to hedge funds, venture capital, cryptocurrencies, SPACSs and more. The investors describe their hiring preferences: Some prefer physicists and computer scientists; others seek the “hungry” ambitious and even the blank slates of liberal arts degrees.
A better title for the book would have been Careers in Investment: A nostalgic look back. ...more
Tara Westover was the youngest of seven children born to survivalist parents in Idaho who trusted neither public schools nor the medical establishmentTara Westover was the youngest of seven children born to survivalist parents in Idaho who trusted neither public schools nor the medical establishment. The family avoided birth certificates, telephones, or insurance for the family vehicle – but the father eventually allowed the internet and a few activities for his youngest children like theater, singing and dance. The author of Educated recalls that “Learning to dance felt like learning to belong.” Yet happy memories are few , and the family home was a place for injuries, violence, humiliation and shifting loyalties....
The fundamentalist Mormon parents insisted they homeschooled the children in basic reading and math skills, but Tara describes how she and her siblings spent most time helping her father in his makeshift scrapyard and the mother with her unlicensed midwifery practice that included collecting herbs and preparing folk medicines. The older boys left home as teenagers for jobs - driving rigs, welding or working scrapyards. But her brother Tyler aspired to attend college, using savings to purchase a trigonometry book and other texts to study. The father, worried about the temptations and disappointments associated with an education, discouraged his children. “College is extra school for people too dumb to learn the first time around,” he retorted. Still, some of the children persevered.
Trump’s goal as president was to disrupt government, and Biden's style is to restore expertise, competence and faith in government. With a style that Trump’s goal as president was to disrupt government, and Biden's style is to restore expertise, competence and faith in government. With a style that is choppy even for journalists, the book details how the two men handle policy and crisis.
Kevin Peraino analyzes President Harry Truman’s response to the birth of modern China in 1949. The history is concise, and the profiles of lead playerKevin Peraino analyzes President Harry Truman’s response to the birth of modern China in 1949. The history is concise, and the profiles of lead players offer insightful context: Mao’s insatiable reading fueling his rebellious streak; Madam Chiang Kai-shek entrancing US politicians with persistence, glamour and celebrity; and Truman’s political sense transforming from Midwest folksiness to respect for liberal internationalism. US efforts to control the poor nation ranged from trying to drive a wedge between Russia and China to blocking trade ties and espionage. Truman’s cabinet quarreled over methods, including support for the Chinese Nationalists under Chiang Kai-shek, and Secretary of State Dean Acheson’s hand’s-off approach, relying on patience and rising dissatisfaction among the Chinese people, attracted easy criticism.
The fall of Shanghai was Truman’s worst foreign-policy defeat, foreshadowing subsequent US struggles in Korea, Vietnam and Afghanistan. Even India, under Nehru, worried about being targeted next for US intervention. From the start, Mao relied on guerilla warfare and population relocation to control recalcitrant areas like Xinjiang. US support for the Nationalists waned, Mao triumphed, and General Douglas MacArthur predicted that the “great events of the next thousand years” would play out in East Asia....more
Donald Trump delivered thousands of errors, exaggerations and outright delusions during his four years as president, and political strategist Stuart SDonald Trump delivered thousands of errors, exaggerations and outright delusions during his four years as president, and political strategist Stuart Stevens blames the Republican Party for going along. "Republicans are linked to a vast life-support system of lies, terrified that the truth will unplug the machine,” he writes. “American history has never seen a party so unified in perpetuating a massive fraud.” Trump is “the logical conclusion of what the Republican Party became over the last fifty or so years, a natural product of the seeds of race, self-deception, and anger that became the essence of the Republican Party.”
Stevens worked for Republican candidates, but his book It Was All a Lie will be sure to delight Democrats.
The book is a combination of history, travel guide, biography, adventure and treasure quest as Tahir Shah researches and hunts for the source of gold The book is a combination of history, travel guide, biography, adventure and treasure quest as Tahir Shah researches and hunts for the source of gold behind King Solomon's wealth. The story is engaging and humorous and seems candid, though the narrator certainly demonstrates his willingness to play easy with the truth when he wants his way, sometimes describing his team as missionaries who have come to chase the devil away. As with any travel to new locales, he learns as much about himself as he does about those who meets and works with in Ethiopia. Early on, he's surprised by the interest in America and the constant requests for advice on how to reach its shores. Later, he's more weary:
"Up on the plateau, a herd of fifty oxen were grazing in long grass. I was about to ask Eyba how they'd got there but Eyba had more important things on his mind. Had I been to America he asked. I replied that I had.
"'I am going to America,' he said earnestly.... Eyba led the way through a maze of wattle and daub walls. As he walked, he foraged under his shamma and brought out a familiar sheet of paper. It was a Diversity Visa form for the United Sates. I rolled my eyes.
"'I think they will need me in America, he said."
While Tahir Shah obsessed for ancient gold, many Ethiopians are intent on finding opportunity, security and comforts associated with endless consumer goods in another far-off land. Individuals would not concede as much along the way, but as noted by T.S. Eliot, the journey matters more than the destination....more
The analysis, focusing on debt as a literary theme, will disappoint economists or policymakers. The style is colloquial with little data or evidence, The analysis, focusing on debt as a literary theme, will disappoint economists or policymakers. The style is colloquial with little data or evidence, although such evidence can be found in many other sources. Instead, the conclusions are based on the logical consequences of debt and inequality, as detailed in historical and literary works over the centuries - resentment, temptation, greed, unnecessary and reckless development, regret and. The book, published in 2008, may seem extreme but the final chapter was certainly prescient about a pandemic. Margaret Atwood suggests that survival of society may depend on how children are raised and beliefs- do parents and teachers counsel patience, planning and living within one's means, careful assessment of needs versus wants, or do they encourage living on the edge, magical thinking and instant gratification. She touches on a key contradiction of the modern economy - the choices that work best for individuals may not necessarily boost society's overall wealth. ...more
Protests erupted throughout the Muslim world in response to Donald Trump’s announcement on US recognition of Jerusalem as Israel's capital. “Over the Protests erupted throughout the Muslim world in response to Donald Trump’s announcement on US recognition of Jerusalem as Israel's capital. “Over the course of a seven-decade alliance with the United States, Saudi Arabia has consistently emphasized one foreign-policy goal – resolution of the Palestinian conflict with Israel and end to Israeli occupation,” writes Susan Froetschel who reviews "Kings and Presidents: Saudi Arabia and the United States Since FDR" by Bruce Riedel. “But with new players, the alliance has entered a new phase with tradition, cautions and promises shoved to the side.” Riedel had a 30-year career with the US Central Intelligence Agency before serving with the US National Security Council, the Department of Defense and NATO. Froetschel identifies the unresolved Palestinian crisis as the book’s most persistent theme and suggests the timely analysis offers lessons in the value of insightful intelligence, meticulous diplomacy and experienced leadership. Read the review at YaleGlobal Online. ...more
Some enjoy venturing into extreme environments, where survival depends on meticulous planning and managing risks. In Extreme: Why Some People Thrive aSome enjoy venturing into extreme environments, where survival depends on meticulous planning and managing risks. In Extreme: Why Some People Thrive at the Limits, Emma Barrett and Paul Martin describe the skills and mindset required of those who relish diving into the ocean depths, descending into caves to crawl among narrow spaces, working for months in contained modules in outer space, climbing mountains, or hiking the world’s remote deserts, jungles and polar regions.
Such capabilities can be developed and practiced, argue Barrett and Martin. "Being brave, making good decisions, planning and preparing, dealing with social conflict, working in small groups, learning to focus attention, coping with boredom, sleeping well, and building psychological resilience are valuable skills in everyday life, just as they are in extreme environments."
Barrett and Martin do not explicitly mention climate change or global warming, but communities increasingly must cope with disasters of human making and those exacerbated by poor planning ....
Book review in YaleGlobal: "The stories of what a few unpaid young adults could accomplish in a few years – sometimes working with global partners onBook review in YaleGlobal: "The stories of what a few unpaid young adults could accomplish in a few years – sometimes working with global partners online whom they never met in person – do inspire and amaze.... The collection beckons young readers to explore a world of interconnected possibilities." ...more
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