Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Put the Textbook Down and Step Away from the Economy

By

Or, everything I learned about finance I learned by not studying it.

PrintPRINT
Perhaps there's something about the daily onslaught of deranged government plans to "shore up" and "fix" the economy that is causing us to feel a certain hunger for understanding, for good old-fashioned book sense, for any reasonable explanation, really, of what's occurring. It's my working theory. Anyway, for reasons that may never be clear, over the past few weeks I've been asked this question more than any other:

Kevin,

I have been a Minyan for a couple of years now and am hoping you could give me (or write about it) some of your favorite books that helped you gain a healthy, comprehensive understanding of the economy, markets, psychology, history, etc. Maybe your top 5 favorite titles if you have the chance.

MCB


Last night I stumbled into an expensive book store in SoHo to do a little market research and was immediately overwhelmed by a wall of creepy titles threatening nothing but grim days ahead.

There was Paul Krugman warning about "The Return of Depression Economics and the Crisis of 2008." Michael Lewis wanted to tell me the story of "Panic: The Story of Modern Financial Insanity." Someone else took a broader approach with "The Two Trillion Dollar Meltdown: Easy Money, High Rollers and the Great Credit Crash." And then there was the most bizarre title of all, "Emergency: This Book Will Save Your Life," a survival book about how to prepare for life off-the-grid... written by the same guy whose other three titles are exclusively about how to get laid.

Even if they're right, that's no way for an author to develop a lasting fan base. People hunkered down in bunkers and off-the-grid safe houses are, by definition, one-time buyers. Remember, if you can see out, they can see in.
But that's beside the point.

The question, what should somebody read to understand the economy and finance, is a reasonable one. So here are five books I recommend. They're not textbooks. You don't need any specialized knowledge base or prerequisite work to understand them. They are just books about our condition; human motivations, desires, strange extremes, thuggish excesses and mind-numbing normalcy and banality.
< Previous
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE