Best Money & Monetary Policy
Where does money come from? The money magicians' secrets are unveiled. We get a close look at their mirrors and smoke machines, their pulleys, cogs, and wheels that create the grand illusion called money. The title refers to the formation of the Federal Reserve System, which occurred at a secret meeting at Jekyll Island, Georgia in 1910. Griffin gives numerous examples of this, such as repeated failures by American colonies and European states in using fiat money. It tells the real story of how bankers have lured politicians with easy money and ended up in control of most of the world. Topics covered: founding of the Federal Reserve, war mongering, bail-outs, boom-bust cycles, the J.P.Morgans and Rothschilds of the world, the history of central banking in the United States, and most fascinating: how the money system really works in this country. It is written in terms that anyone can understand, which will immediately rule out the kind of reader who is impressed by a lot of technical jargon that supposedly demonstrates an author's mastery of the subject while only serving to confuse laymen (and experts too). It tells the real story of how bankers have lured politicians with easy money and ended up in control of most of the world. Topics covered: founding of the Federal Reserve, war mongering, bail-outs, boom-bust cycles, the J.P.Morgans and Rothschilds of the world, the history of central banking in the United States, and most fascinating: how the money system really works in this country. It is written in terms that anyone can understand, which will immediately rule out the kind of reader who is impressed by a lot of technical jargon that supposedly demonstrates an author's mastery of the subject while only serving to confuse laymen (and experts too).
Reviews
Find Best Price at Amazon"This book puts it right: * Why America fought in WW1. * Why Russian revolutions occurred and who benefited from those. * Why people in other countries are so gullible when receiving foreign aid. * How the large bankers took advantage of those countries by legalizing smuggling, just for them, not the common folk. And most importantly: * How the common US folk is paying for all of it out of its own pocket through the hidden tax of inflation."
"I read this book many years ago and wanted to read it again."
"good information Prompt delivery."
"Great!"
"If you want the truth , read this book."
"All of the historical sequences are easy to read and understand due to the patient pace of the author."
"I had heard about this a long time ago so I was somewhat familiar with what happened."
The second edition includes: A broad introduction to bitcoin--ideal for non-technical users, investors, and business executives An explanation of the technical foundations of bitcoin and cryptographic currencies for developers, engineers, and software and systems architects Details of the bitcoin decentralized network, peer-to-peer architecture, transaction lifecycle, and security principles New developments such as Segregated Witness, Payment Channels, and Lightning Network Improved explanations of keys, addresses and wallets User stories, analogies, examples, and code snippets illustrating key technical concepts.
Reviews
Find Best Price at Amazon"Deep complex book for programmers."
"This book really shows how a transaction works, how blockchain works, and why we need it--along with a history and and thorough introduction of bitcoin that could explain it to someone that knows nothing of distributed ledger technology."
"Fantastic book if you want to learn what Bitcoin is and how it works."
"I would recommend this book to everyone, who wants to know how the bitcoin works in bit level."
"Excelent information to for those who want to create blockchain related projects..."
"Very good book for both technical & non technical use."
"detailed, comprehensive, and masterful."
"great book very technical."
This clear, concise, and accessible guide from two industry insiders shows you how to navigate this brave new blockchain world―and how to invest in these emerging assets to secure your financial future. In addition to offering smart investment strategies, this authoritative resource will help you understand how these assets were created, how they work, and how they are evolving amid the blockchain revolution. By sequentially building on the concepts of each prior chapter, the book will provide you with a full understanding of the cryptoasset economy and the opportunities that await the innovative investor . “As we hurtle into a new, decentralized economy, Burniske and Tatar have laid down something of immense importance: a coherent logic, a new science even, for investing in the assets that will define that coming world.”. “In this sweeping and lucid work, Burniske and Tatar make a compelling case that cryptoassets are foundational to the second generation of the Internet and represent a once-in-a-generation opportunity for the innovative investor. ―Ric Edelman, three-time #1 Independent Financial Advisor ( Barron’s ) and New York Times bestselling author of The Truth About Your Future. Cryptoassets is an excellent introduction to this breakthrough in technology and finance, and a tremendous resource for those eager to get their heads around what can be a daunting and complex subject.”. Chris Burniske and Jack Tatar give the most compelling case for why, with sharp, detailed analysis that reflects their deep understanding of the technology and their strong finance background. The authors surface many historical examples to remind us that in times of excitement, it is even more important to pay attention to the teams and talent behind each project.”. “ Cryptoassets is a must-read for all financial services executives and investors who want to understand the fundamentals and future directions of this burgeoning, new asset class. Within this book, they’ve rolled up their sleeves to provide helpful historical context and a valuation framework that readers will find intellectually stimulating and illuminating for understanding this rapidly emerging world of cryptoassets.”. Cryptoassets explains, in simple to understand terms, the full paradigm of Bitcoin and its successor currencies, and it provides everything needed to explore this exciting world.”. Cryptoassets makes blockchains accessible to the nontechnical by exploring their varied origin stories, use cases, and fundamental value. “Young, Stanford-trained, blockchain analyst and investor Chris Burniske has teamed up with financial planning expert and author Jack Tatar to provide the first comprehensive guide to understanding the fastest growing, most exciting asset class under the sun. “While the cryptoasset space has witnessed exponential growth, to achieve its full potential, it has to be broadly integrated into the real world. With consistent objectivity and clarity, Chris and Jack’s book details cryptoassets as an asset class, and will prove influential in driving institutional investor adoption of this groundbreaking opportunity.”. “ Cryptoassets provides a great introduction to and overview of the young yet rapidly growing universe of all things blockchain. This industry, asset class, and overall idea will make you ponder why abstract concepts like money, identity, and business function like they do in the world today, and how the innovation we’re seeing will completely reshape the economy of tomorrow. From setting the stage to diving into specific protocols and projects to sharing practical knowledge on how to invest in these emerging assets, Chris and Jack’s combination of expertise and familiarity with the complex topics at hand are testament to why I have considered them some of the best resources throughout my journey of falling deeper and deeper down the crypto rabbit hole.”. It’s not a hard read yet delves into much of the detail needed for a complete understanding of the benefits, and risks, of bitcoin, blockchain, and more. I’d totally recommend it to anyone who wants to dive into investing and understanding how cryptoassets will shape the future of society and the creation of value.”. “Those of us who work in the blockchain industry have long realized that the rise of cryptocurrencies as a legitimate asset class was inevitable. Chris was the first buy-side analyst to focus exclusively on this emerging asset class, and Jack was one of the earliest financial journalists to stress its importance. Now, with Cryptoassets , they describe, as nobody has before, why every investor should incorporate bitcoin, ether, and new blockchain-based assets into their portfolios, and how to analyze these tokens in order to make the right investments.”. The authors capture not only the technical and market analysis you need to know to invest in these projects but also the ethos and excitement of the people pushing this envelope. The book provides background and the potential impacts of ICOs, offering insightful knowledge to both those entering the space and experienced investors like myself. The book covers the full potential and array of what this technology offers in piercing the veil to an Internet of value with all the new innovations and crossovers from the traditional realm of finance. Chris and Jack have brought a wealth of knowledge and cross-disciplinary methods to bear from their respective fields and broken new ground in their analysis of this exciting new space.”. Burniske and Tatar are able to leverage their deep industry experience to condense a complex, continually evolving topic into a concise and informative guide for investors looking to be on the cutting edge of a new asset class. “In a world where issuing digital assets becomes as easy as creating a website, Chris and Jack provide a comprehensive guide that will help you separate the wheat from the chaff.”. “As we enter the next great evolution in global financial markets, Chris Burniske and Jack Tatar have authored a unique and much needed volume. The book adapts classic finance pricing models to the challenging task of valuing cryptoassets, offering the reader a solid headstart to investing in this new exciting asset class.”. You’ll learn about their colorful histories, how to apply fundamental valuation techniques, and practical tips to navigate the at-times turbulent markets.”. For curious minds who want to know about emerging technologies or even those who already have an understanding of blockchains, Chris and Jack leave no stone unturned. Chris Burniske and Jack Tatar steer the reader through a torrent of unknowns, illuminating the complicated world of cryptoassets and their underlying technology, which will more than likely become our generation’s most important innovation.”. “A must-read to appreciate the Bitcoin network effect and the wave of innovation that it launched through the community of people who played critical roles in creating all the distributed ecosystems that are transforming business models.”.
Reviews
Find Best Price at Amazon"They cover the good, bad, and ugly of bitcoin’s history and bring us into the present world of decentralized applications. The examples include bitcoin, Litecoin, Ripple, Dogecoin, Dash, Monero, Zcash, Ethereum, Auger, dApps in general. They paint a realistic picture of the landscape and give fair warning to those that may embark on a ride of the cryptoasset roller coaster. The authors provide an analysis and valuation framework that lays out the elements to look for and analyze when deciding on weather or not an investment would be worth it. I have added 2 pictures to the review to show you there is a lot of things you’ll want to recall as you go through your journey."
"The book wisely uses textbook features including headings; sidebars; labeled diagrams; charts and graphs; resources, notes and large index; and maps. The history of this surprisingly (to me) large knowledge domain is presented in the most succinct and straightforward manner. But it's way to long to have been a mere essay, and hence we have the first justification for getting the book rather than picking up information piecemeal. Next the text discusses returns on bitcoin and inclusion of cryptoassets in a financial portfolio."
"A great introduction to crypto."
Best Financial Engineering
Cybermoney is poised to launch a revolution, one that could reinvent traditional financial and social structures while bringing the world's billions of "unbanked" individuals into a new global economy. But bitcoin, the most famous of the cybermonies, carries a reputation for instability, wild fluctuation, and illicit business; some fear it has the power to eliminate jobs and to upend the concept of a nation-state. “To their ample credit, Paul Vigna and Michael J. Casey, veteran Wall Street Journal reporters, resist the common temptations to hype their trendy subject. “Thorough, multidisciplinary approach to the topic, including a fascinating examination of the origin of money... newcomers will gain a better understanding of the revolutionary potential of digital currency...And the explication of the non-currency applications of the concepts behind Bitcoin--such as tamper-proof records of verified information will be valuable to any reader.” ― Publishers Weekly, starred review. “Anyone who doubts that bitcoin and its imitators are at the early stage of altering fundamentally the global payments system--if not the nature of money itself--will find it difficult to resist Michael Casey and Paul Vigna's admirably clear and judicious account. “An invaluable book: a fascinating field guide to the phenomenon in which three of the most powerful forces shaping our world today--the reform of finance, technological innovation, and the rejection of traditional politics--meet.” ― Felix Martin, author of Money: The Unauthorized Biography. “ The Age of Cryptocurrency not only demystifies and explains bitcoin, but also shows where it fits into the cultural zeitgeist and where it's pointed, and what that may mean for our financial system.” ― John Mauldin, New York Times bestselling author of Endgame. “[I]n...their fascinating book on the topic, Wall Street Journal columnists Paul Vigna and Michael Casey set out to convince readers that bitcoin is not only going straight, but has the potential to change the world.” ― Literary Review. “Bitcoin and Bitchain (sic) are likely to revolutionize money...The book to read on this topic is The Age of Cryptocurrency by Vigna and Casey two Wall Street Journal financial journalists.” ―Rishad Tobbacowala.
Reviews
Find Best Price at Amazon"The reader of this review may find it useful to mix my point of view with that of the book itself in trying to envision the mechanics. It appears to have been started by a single idiosyncratic individual calling himself Satoshi Nakamoto but whose identity remains unknown and who dropped out of sight some three years ago. Fiat currencies are imminently bankable, they can be moved around electronically with great ease. The counterfeiter can create false paper money, and a financial manipulator or central bank can arbitrarily dilute current holders, expanding the money supply by creating dollars out of thin air. The implications of being able to trace the history of every transaction in which a piece of money has been involved are extremely broad. Unlike a Federal Reserve System you cannot have $85 billion created every month out of thin air. There is a publicly available record of every transaction ever done within the system going back to Nakamoto's genesis block. But if, just for instance, you interpret each string of six letters as a (12 place hexadecimal) number, and add those up, the result is huge: 5,642,316,386,171,830. Rest assured that bitcoin uses bigger numbers and a more sophisticated scheme than I show here. 46. The take-home point is that a large volume of text can be (very close to) uniquely vouched for by a fairly compact number. Every transaction document can thus be represented uniquely enough for bitcoin's purposes by some string of numbers. It takes a large number, but one which is very small in comparison to the original document for which it vouches. Most importantly, this hash also includes the hash from the previous batch, which has in the intervening ten minutes been vetted by a "proof of work" concept, authenticated and accepted by the electronic voting process of the bitcoin community. These summary hashes, combined with the backwards links in the block chain, knit together every transaction in the history of the bitcoin universe. A little arithmetic (mine, not the authors') demonstrates that the data volumes are well within the realm of modern computing. Presumably, though it is not discussed, there is some kind of a tiered scheme, so as not to waste too much resource storing inactive data. The block chain serves two functions it guarantees the integrity of the system and it makes it compact enough that there is a way to work with it. This hash total functioning, and in fact almost all of the operation, is highly encrypted using public key cryptography. For a good description, see Nine Algorithms That Changed the Future: The Ingenious Ideas That Drive Today's Computers. In my simplistic example I said that we will digitize the representation of six characters and interpret the group as a large number. What fraud has occurred in bitcoin is due to human error rather than any architectural flaws. Going back to the book the authors do a good job of reporting the early days of bitcoin and then surveying how it is used today. They observe that bitcoin can only handle 7 transactions per second versus the 10,000 or so that Visa is structured to manage. In order for bitcoin to emerge as a competitor with the big financial houses, its architecture may need to be rethought. The counterargument is that this is equally true of fiat currencies, and bitcoin has the benefit of scarcity. Deflation works against governments, which depend on inflation to progressively hike people's tax brackets and things like that. How governments deal with bitcoin is an interesting question into which the authors delve at length. Bribe the right judge and he will change the paper land records, depriving you of a property right. The authors talk about its attraction in a place like Argentina that has not had a reliable currency since Juan Peron in the 1950s. Therefore when the governments decree that you cannot change pesos or rubles or whatever the fiat currency is into something more attractive, bitcoin seems to offer an alternative. Let me close in saying that this book will give you an insight into the modern financial system and a good appreciation of bitcoin, which may represent the most serious intellectual challenge to the structure of finance, both national and international, to arise within the past couple of centuries."
"You get a thorough introduction on what money is, or rather what it is that that turns something into money, you get an introduction to the biosphere out of which Bitcoin sprung, including a long list of its predecessors, and that part of the book is rounded up by a brief history of the "genesis" of Bitcoin itself. Everybody can verify that it is my Bitcoin, because my Bitcoin addresss is (or is derivable from) my public key. The above is merely an example; Bitcoin does not use RSA, it uses elliptic curves-based encryption, which (among other advantages) obviates the need to change private key every time you've changed your public key. The rest of the planet knows my wallet by the 26 to 34 character hash (you guessed it) that is a (hash of) my public key (it's not the public key itself, chiefly for error-correction purposes, one of the few times Bitcoin looks after you). The first input in the life of a Bitcoin is something along the lines of "WalletAthan was legitimately awarded 1 Bitcoin at 4:59pm on Sunday the 12th of April 2015". The 26 to 34 character hash that was my 1 Bitcoin gets re-hashed together with my brother's public key into a new 26 to 34 character hash. Something like GGe3523tn65ybn9a9441hmaR90AFGWR. So we started with 1 Bitcoin (which is a hash), we did a transaction (which is a longer hash) and we ended up with another 1 Bitcoin (which is a hash) Because the new 1 Bitcoin has my brother George’s public key somewhere in the hash, he alone knows what the private key is that can prove he is the rightful owner of the 1 Bitcoin. Whenever he feels like transferring the money to somebody else (say a bookstore), he must first unlock the 1 Bitcoin with his private key and then apply the bookstore’s public key to the 1 Bitcoin. This in turn generates 2 new hashes: 1. a 1 Bitcoin hash that has in it somewhere the bookstore’s public key. 2. a transaction hash that has in it both George’s unlocking of his public key and the bookstore’s public key (and this solves the mystery of why the transaction hash is longer). And so on. Regardless of the input, the Bitcoin hash is always <= 34 characters. A hundred years down the line the full history of what happened to every Bitcoin would be impossibly long, the Bitcoin would be pages long, but the hash keeps it all at a max of 34 characters at all times. You most obviously cannot travel from 34 characters back in time to every transaction, but the transactions themselves (64 characters apiece) are so compact that every "full node" (see below) can verify every transaction ever done via Bitcoin. The little miracle that is the hash means Bitcoin is money good that travels light. The algorithms are complex and they need to deal with the fact that computers are not connected to the network the whole time, but this technology makes is possible for Bitcoin wallets to become "nodes" in a network, with the explicit purpose of validating each other's transactions using the public key. The fourth relevant piece of technology is "Proof of Work," a lottery that involves hashing in pairs all 64-character transaction hashes of the past ten minutes and then hashing pairs of the resulting hashes until there's only one hash left (called the Merkle root) and then repeatedly hashing the Merkle root with a specified length hash (the "nonce") until a small enough hash can be generated. The first node to review a block of enough transactions and finish the requisite "proof of work" gets 25 Bitcoin (this it does by inserting an extra "coinbase" transaction whereby it is awarded 25 Bitcoin), publishes its results to the network for verification (incl. To catch a drug dealer, basically, you need to lure him into a sting and then the whole world can see you transferred money to him, but if I and my brother George can keep stumm, to find out what we did you need to go find the private key I used to encrypt the transaction and play the music forward from there (i.e. apply it to the last block's hash and the description of the transaction and then apply the public key to that and get back the mooted transaction you stuck in) Good luck to you, basically. Provided I never cash my Bitcoin into dollars (i.e. provided Bitcoin is money good and all I ever wanted to do is make a donation to the Finnish Sea Scouts, which will never be traceable to me) I can keep my identity totally safe. Obviously, 0.5 to the twentieth power is also known as one in a million, which at an original 50 Bitcoins per ten minutes corresponds to 2.5 fresh Bitcoins per annum after year 100, so Bitcoin needs to appreciate like mad for it to be worth mining for, but that's a story for later. Among other things, the tour includes: * a very good history of the actual Bitcoin protagonists such as Mt Gox. * interviews with the founders of perhaps twenty startups that are doing work along the lines of Bitcoin around the world. * a glimpse of the dinosaurs that are ripe for slaughter when the world has completed its move to cybercurrency (for example the seven companies that handle the money as it moves from my account to yours when I use my Visa card in your store). * a vista of the massive opportunity to provide transactional services to the world's unbanked, including field trips to the third world to see the work in action. Much like Michael Lewis does with Lewie Ranieri or Jim Clark or Brad Katsuyama, the authors tell the story from the angle of a "Sherpa." They explain very well that until the day people can buy everything they need using Bitcoin and also receive their salary in Bitcoin, users of Bitcoin will find themselves in the unenviable situation of an expat who gets paid in Euros but does his spending in Dollars, i.e. hostages to the exchange rate of Bitcoin to the currency in which they get their salary. Moreover, they detail how the New York Department of Financial Services takes this issue to its natural conclusion and treats Bitcoin like a commodity, recommending that holders of Bitcoin be taxed on their capital gains when they liquidate their Bitcoin to make a purchase in dollars. This is entirely consistent with how they'd handle a taxpayer who keeps his cash in Euros or Sterling, so it's not unfair, but it is a massive impediment to Bitcoin being a good means of exchange, because in essence you'd have to think twice about using Bitcoin ahead of every transaction: "am I about to realise a capital gain here?" They also don't shy away from the problem that Bitcoin is in essence a "deflationary currency" in the sense that a central bank cannot manipulate Bitcoin to loosen monetary policy during a recession like the one that occurred in 2008-09 because the increase in Bitcoin is predetermined by formula. A list of technical problems with Bitcoin, finally, includes that. 1. there simply isn't enough Bitcoin to handle all the world's transactions. Bitcoins get exchanged once every ten minutes and the proof of work has to be hard enough to prevent people from mining tons of Bitcoin. 3. if somebody does collect enough computer power he can use it to overwhelm the network and endorse his own version of Blockchain and spend all his Bitcoins twice or more. 4. there's already been a case of a documented bug in the Bitcoin code, which allowed Bitcoin to be stolen. Regardless, the authors are convinced that the technology is valid and at some point will evolve to the point that the benefits from adopting it (cutting out the 3% tax on all transactions that middlemen earn, full auditing of transactions for those who wish to submit to it, the benefits to the 100 million unbanked Americans and billions of unbanked people in the third world etc."
"This book was well-written and provided a broad yet detailed picture of the history, present and possible future of the cryptocurrency and its underlying blockchain."
"A page turner if your interested in crypto currencies."
"The combination of historical background information coupled with the contemporary state of the blockchain and bitcoin world is incredible."
"If you want to learn about Bitcoin and cryptocurrency in general, this is a great book."
"Great way to look into Bitcoin on a deeper level."
"A well written and easy to read explanation of bitcoin and blockchain."
Best Economic Policy
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. 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. What Thiel is after is the revitalization of imagination and invention writ large…" – The New Republic "Might be the best business book I've read...Barely 200 pages long and well lit by clear prose and pithy aphorisms, Thiel has written a perfectly tweetable treatise and a relentlessly thought-provoking handbook." This is a classic.” - Nassim Nicholas Taleb, author of Fooled by Randomness and The Black Swan “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 "Peter Thiel, in addition to being an accomplished entrepreneur and investor, is also one of the leading public intellectuals of our time. "The first and last business book anyone needs to read; a one in a world of zeroes."
Reviews
Find Best Price at Amazon"For example "we never invest in entrepreneurs who turn up for the interview in a suit" or "four of the founders of PayPal had built bombs as children." Memo to Peter Thiel: you are successful despite your prejudice against people who don't share your sartorial taste, and your partners made it to adulthood despite having been poorly supervised as children. He was not beaten by a better provider of software, he was superseded by a shift in technology toward powerful mobile devices, tablets and the cloud, all of which, in turn, were motivated by other entrepreneurs' desire to obtain monopoly profits. So Steve Jobs dominated many of these arenas for long enough to enjoy monopoly profits and other people will some day take this all further. Even the government is in on the act, Peter Thiel claims, or else it would not be granting patents to inventors or freedom from competition from generic drugs to the pharmaceutical companies that first develop new medications. My mom taught me that "necessity is the mother of invention:" GM did not develop the Volt till it was up against the wall, Archimedes discovered how to screw water upwards during the Roman siege of Syracuse, the Germans developed jet propulsion, the swept wing and the rocket we later sent to the moon when they had pretty much already lost WWII. And then we have the cases where, as the author says, it's clear that you need to incentivize people to innovate (drugs spring to mind, where the US has a lead) and that's where patents come in. And it was crystal clear to everybody with a modicum of common sense that both Intel and Microsoft were not helping the world along when they used dirty tricks to hurt AMD and Netscape. The author takes us on a (rather gratuitous) trip from Plato and Aristotle to Nozick and Rawls via Epicurus, Lucretius, Hegel and Marx to discuss when optimism is and isn't warranted and the bottom line is that you're only allowed to be an optimist if you have "definite optimism" based on a specific Design (my capital D) for a business. Peter Thiel takes a massive swipe at the Malcolm Gladwells of the world who overemphasize chance, serendipity and fate with facile arguments about the similarity in Steve Jobs' and Bill Gates' birthdates. It's the Nassim Nicholas Taleb idea, and he duly appears on the back cover to endorse the book. For the best book on the subject I'd swerve around NNT's work and turn to Benoit Mandelbrot's masterpiece, "The (Mis)behaviour of Markets." The fourth idea is no more original, but Thiel puts it well: "there are many more secrets left to find, but they will yield only to relentless searchers." The fifth idea is you need to pick your partners i.e. your investors, your fellow managers and your (ideally 3) directors very carefully in order to make sure you all want the same thing out of the company (and it had better not be immediate rewards). But once they have their first billion and don't need to run their ideas by anyone else to get them funded they very often go do something stupid (dunno, like go mine asteroids) with exactly the same fervour they previously applied to the sensible endeavour that made them rich. The more grounded ones keep their further investments close to home and direct their creativity toward giving lectures and writing books."
"Along with business strategy, Thiel outlines how successful innovation shapes society and shares an intriguing vision. Rather than offer scripts or formulas, Thiel discusses the logic of starting a company that will make a truly meaningful and unique impact on the world. Blake did a great job of adapting and presenting the contents, many of which were delivered when Thiel taught at Stanford. Keeping in mind that companies growing 1000x often carry entire portfolios, Peter gives a good argument for successful moonshots and grand visions. He also highlights the dangers of trying to disrupt entrenched competitors and avoid extra resistance and burn rates on marketing. Rather, Tesla began by making powertrains, then started with high end luxury models to which no solid alternative existed. His strong argument for monopolies are both for novelty and to develop early market dominance should competitors arise later. I found a Monopoly Index by Forbes that showed these types of companies outperforming the Dow and S&P by 33%, which was a pleasant result of some due diligence. Even if you make a product that’s a 3x improvement over a market leader, you aren’t creating anything truly new, and well funded competitors are likely to catch up. It looks at economics, globalization, artificial intelligence, and historical trends along with founder characteristics and the qualities of great salespeople. If you like diving really deep into the mind of a founder across many life experiences, check out Tony Hseih’s Delivering Happiness."
Best Intergovernmental Organizations Policy
Stiglitz reveals three potential paths forward: drastic structural reforms, not of the individual countries, but of the eurozone; a well-managed dissolution of the euro; or a bold new system dubbed the “flexible euro.” With trenchant analysis―and brand new material on Brexit― The Euro is urgent and timely reading. “Terrific and clarifying.”. - Peter Goodman, The New York Times. “[Stiglitz] is surely right.
Reviews
Find Best Price at Amazon"'The Euro was supposed to enhance commercial ties, erode borders and foster a spirit of collective interest - partly through economies of scale and comparative advantage. But in the 17 years since that currency came into existence, it has instead reinvigorated conflicts and a spirit of distrust while making economic inequality worse and dividing Europe into adversarial debtor and creditor camps. Worse yet, the structure of the Eurozone built in certain ideas about what was required for economic success - that the central bank should focus on inflation, ignoring unemployment, growth, and stability as well, as does the Federal Reserve. Why were Europe's leaders even focusing on milk, the size of loaves of bread, and what OTC drugs could be sold outside of pharmacies as Greece's GDP plummeted about 25%? Stiglitz also points that prior to the crisis (early 2000s), Germany adopted reforms that aggressively cut into ordinary workers' safety net, especially those at the bottom. Sitglitz endorses significant debt write-downs, raising both taxes and spending by the same amount (Stiglitz blames a hidden agenda of downsizing government for the latter), and banning excessive trade deficits. He also criticizes the European Common Bank for 'resisting quantative easing,' yet argues that the most important effect of QE has been contributing to 'growing inequality,' which he says hurts growth. Bottom-Line, per Stiglitz: The Euro has failed to achieve either of its two principal goals of prosperity and political integration."
"In fact Stiglitz explicates many arguments against the UE, but he doesn't arrive to affirm the paradox which it would be better to leave the single states with an its money."
"One could do well on advanced exams in economics by just rereading Samuelson's relevant chapter in his introductory book."
"Travels to other countries is necessary to observe the problems."
"His cruise left Tuesday and I learned at lunch on Saturday."
"Nobel prize winner Joseph E. Stiglitz successfully dismantles the conventional consensus about what ails Europe, demolishing the champions of austerity while offering a cure that can rescue the continent--and perhaps the world--from the next crisis."
"It is extremely accurate and helpful to understand all the alternatives facing the international community, willing to act to overcome the shortcomings of a monetary system developed without a fiscal coordination."
"Not an easy read but very informative."
Best Economic Theory
In this fifth edition of Basic Economics , Thomas Sowell revises and updates his popular book on common sense economics, bringing the world into clearer focus through a basic understanding of the fundamental economic principles and how they explain our lives. Thomas Sowell is the Rose and Milton Friedman Senior Fellow at the Hoover Institution and has taught economics at Cornell, UCLA, and Amherst.
Reviews
Find Best Price at Amazon"What sets Thomas Sowell apart from many economists and intellectuals is his ability to present complex ideas with both clarity and simplicity. As he himself once noted, "If academic writings were difficult because of the deep thoughts involved, that might be understandable, even if frustrating. Yet the book is of such breadth and depth that economist Dr. Walter Williams says "it provides an understanding of some economic phenomena that might prove elusive to a Ph.D. He also explains why, for similar reasons, rent control decreases the quality of apartment buildings, or why lowering the price of gas can cause a shortage. An insightful chapter, Sowell explains why some countries enjoy luxury while others suffer poverty, pointing to such commonly overlooked factors as geography and culture. Another addition is that this book ends with a section of questions covering important economic issues."
"This should be part of a “how to be a literate citizen” starter pack."
"Should be mandatory reading for HS students."
"The only basic economics text you will ever need."
"I recommend this work to everyone who wishes to know the way sound economic policies should work, and how to go about making the proper changes."
"I got my bachelors degree in economics but this book is so clear I will remember the concepts presented here for much longer."
"The anecdotal teaching of economics is far and away the best for a beginner...a student or a citizen looking to become more educated in a field that is vastly misunderstood."
"Easy to read."
Best Investment Portfolio Management
Antonacci reveals how momentum investors could have achieved long-run returns nearly twice as high as the stock market over the past 40 years, while avoiding or minimizing bear market losses--and he provides the information and insight investors need to achieve such success going forward. * Lock in profits and mitigate risk with a minimal number of switches per year among U.S. equities, non-U.S. equities, and bonds. * Establish meaningful control over investment risk once an asset's value begins to decline. * Remove emotional and behavioral biases from your decision-making,while taking advantage of. these same biases in others to achieve exceptional returns. From picking a cost-effective brokerage firm, to making asset choices, to customizing your strategy as you near retirement--this reliable guide helps you do it all with the confidence you'll gain through repeated success.
Reviews
Find Best Price at Amazon"This is a top shelf investment book. But the body of the book is written in plain english, putting building block upon building block, making the case that momentum should be a part of your investment arsenal, until you are ready for the investment models at the end."
"The author does a fantastic job walking through the background of index investing along with tasteful critiques of traditional academic financial theory."
"I've read the classics on investing - the books that are supposed to be the best (The Intelligent Investor, Common Stocks and Uncommon Profits, How to Make Money in Stocks, etc.)."
"The first thing to note with this investment book, is the author doesn't seem intent on up selling anything besides what he gets for the book."
"I've read a number of books about factor investing and Dual Momentum Investing by Gary Antonacci is great."
"It gives great background and historical information on investments."
"It is clearly written, well documented, and dispels many myths of investing."
"My eyes tend to glaze over with the technical jargon, but my brother recommended this book to me, and from his description, I felt it was a must read."
Best Online Trading E-commerce
In the book, I describe the fundamentals of day trading, explain how day trading is different from other styles of trading and investment, and elaborate on important trading strategies that many traders use every day. ABCD Pattern Trading Bull Flag Momentum Trading Top Reversal Trading Bottom Reversal Trading Moving Average Trend Trading VWAP Trading Support and Resistance Trading. For each strategy, I explain: How to find the Stock in Play for trade What indicators I am using on my charts When I enter the trade When I exit the trade (profit taking) What is my stop loss. To be successful at day trading you need the right tools and you need to be motivated, to work hard, and to persevere. At the beginning of my trading career, a pharmaceutical company announced some positive results for one of its drugs and its stock jumped from $1 to over $55 in just two days. As such, I wake up early, go for a run, take a shower, get dressed, eat breakfast, and fire up my trading station before the markets open in New York. I am motivated when I sit down and start working on the list of stocks I will watch that day. This morning routine has tremendously helped my mental preparation for coming into the market. Whatever your routine is, starting the morning in a similar fashion will pay invaluable dividends. Sitting at your computer in your pajamas or underwear does not put you in the right mindset to attack the market. In this book, I use simple and easy to understand words to explain the strategies and concepts you need to know to launch yourself into day trading on the stock market. This book is definitely NOT a difficult, technical, hard to understand, complicated and complex guide to the stock market. I know you will learn much about day trading and the stock market from studying my book.
Reviews
Find Best Price at Amazon"Scanning for stocks in play and trading unknown stocks is an approach I have resisted for my entire career but I think I have to go there now. There is also good information on other topics for real beginners such as the importance of risk management, emotional control which are important."
"In other words -- the information seemed useful, but I wasn't sure OF the author's genuine intentions (to write a great book, versus suck people in for long-term profits). Aziz offers his readers a few recommendations relative to "tools of the trade," and given this was my first experience with this sort of text -- I was caught off guard by some of what felt like self-promotion from within... Yup, as "good" as CANSLIM has (apparently) proven itself over the years, IBD not only sucked me in -- but they continue to annoy the heck out of me -- AS A PAID SUBSCRIBER -- by constantly inundating me with ads... Her "tools," by the way, are actually pretty useful... My point though, is this: Though these authors (obviously) have something to gain by increasing their follower-ship, they are also simultaneously recommending invaluable resources for ANY "trader" genuinely interested in succeeding in this business. Believe it, or not, the guy (Aziz) would be doing his readers a disservice if he didn't recommend (and/or offer) tools for success... My experiences so far: Chat Room: When I first stumbled into his chatroom, I was caught off guard. I think I was expecting some sort of forum-based venue, where newbie's like me could browse topics of interest, ask redundant questions, and receive "platinum" membership status for posting 1 billion times... And when he (Aziz) loses money on the day, it speaks volumes toward: 1) Everybody is capable of failing, and even a professional trader has risk/reward factors to consider, and 2) he's not pretending to have a "secret sauce" that will guarantee billions of dollars overnight! To be honest, I never imagined I'd put forth any sort of tangible effort into a simulator (it was "beneath me"), but now that I have the experience -- I'm soooooooo glad that I humbled myself, and took his advice! I would also argue that Aziz cuts a lot of unnecessary fluff, and focuses on providing advice that actually works; rather than just including pages of theory in an attempt to convince us of his acumen. I'm now thankful that Aziz made it a point to help guys like me consider the "big picture" ---- while holding our hand(s) along the journey ---- before my accounts were wiped away like an open bag of leaves on a gusty day!"
"This book will cover the most important concepts and basic strategies and not be overly technical."
"When I started reading this book I had little to no real understanding about day trading."
"Probably the best, most concise book I've read on day trading."
"I've bought various books on the topic of day trading, but most of them are overly complicated and misinformed."
"The terminologies are simple and the concepts are written for easy understanding with many real life trading examples."
"He is realistic: never promising a career of trading for a few hours a week while lounging in a beach hammock and reminding the user that anything short of months of simulator work will prohibit success."
Best Digital Currencies
While many books explain the how of bitcoin, The Internet of Money delves into the why of bitcoin. "Over the past three years, awareness of the sweeping, transformative potential of bitcoin and its underlying blockchain technology has grown exponentially. --Michael J. Casey, co-author of The Age of Cryptocurrency: How Bitcoin and Digital Money are Challenging the Global Economic Order.
Reviews
Find Best Price at Amazon"When I dove down the rabbit hole of Bitcoin in late 2013, Andreas' YouTube talks and podcasts pulled me further in, and this book is a compilation of these entertaining and informative talks."
"This study of Bitcoin is truly turning out to be an elemental experience where Andreaus' approach gives me the power to create endless scenarios about the world we live in."
"Andreas takes us on an unparalleled journey where he explains, in a simple way and with the best metaphors, the why of money, its history and its relationship with society and why cryptocurrencies and the blockchain are the greatest revolution seen in the society since the appearance of the Internet."
"It is a very knowledgeable book, but seems to just be literally the talks the author has given across the globe."
"THE BEST book there is about Crypto."
"Must read for anyone who is interested in cryptos, has cryptos, loves or hates the idea of cryptos."
"If you know anything about the blockchain you won’t want to waste your time with the comparisons to the early days of the internet or whatever."