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In 1928, the Dow Jones
Roger L. Martin • The Design of Business
far too small to deal with the massive flood of transactions that Wall Street handles in that time frame.
Paul Vigna , Michael J. Casey • The Age of Cryptocurrency
“Sam, we’re broke,” the prime minister confessed. Sam wasn’t broke. Just then Sam was the opposite of broke. Alameda Research was no longer paying loan shark interest rates to borrow tens of millions of dollars from effective altruists. The new crypto lenders like Celsius and Genesis were willing to hand Alameda Research collectively between $10 bi
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
But economic volatility, as Clément Juglar observed long ago, is a source of vitality.
Edward Chancellor • The Price of Time: The Real Story of Interest
Edward Chancellor’s book Capital Returns helped
Gautam Baid • The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated (Heilbrunn Center for Graham & Dodd Investing Series)
The Distorting Power of Incentives (or the “Pointed Carrot”)
Laurence Endersen • Pebbles of Perception: How a Few Good Choices Make All The Difference
“smart property”—
Paul Vigna , Michael J. Casey • The Age of Cryptocurrency
The Bob Rubin trade? Robert Rubin, a former Secretary of the United States Treasury, one of those who sign their names on the banknote you just used to pay for coffee, collected more than $120 million in compensation from Citibank in the decade preceding the banking crash of 2008. When the bank, literally insolvent, was rescued by the taxpayer, he
... See moreNassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
When people entrust money to financial institutions, they generally don’t have the expertise or time to make sure the institution is doing its job. In most cases, it is much more efficient for people to band together and pool resources to ensure that their banks and exchanges are on the straight