John Authers
Senior Editor at Bloomberg @business. Previously 29 yrs @FT Englishman in New York. Mexicanophile. Red Sox forever. Views mine except RTs Please sign up below:
Book Recommendations:
Recommended by John Authers
“This book is going to be great: @mdc's magnum opus on Bill Gross. Jim Grant seems to like it: The more complex a security, the more Bill Gross liked it. Futures, derivatives, options and foreign exotica were his cups of tea. https://t.co/fQQi6KBa1i via @WSJBooks” (from X)
From the host of NPR’s Planet Money, the deeply-investigated story of how one visionary, dogged investor changed American finance forever. Before Bill Gross was known among investors as the Bond King, he was a gambler. In 1966, a fresh college grad, he went to Vegas armed with his net worth ($200) and a knack for counting cards. $10,000 and countless casino bans later, he was hooked: so he enrolled in business school. The Bond King is the story of how that whiz kid made American finance his casino. Over the course of decades, Bill Gross turned the sleepy bond market into a destabilized game of high risk, high reward; founded Pimco, one of today’s most powerful, secretive, and cutthroat investment firms; helped to reshape our financial system in the aftermath of the Great Recession―to his own advantage; and gained legions of admirers, and enemies, along the way. Like every American antihero, his ambition would also be his undoing. To understand the winners and losers of today’s money game, journalist Mary Childs argues, is to understand the bond market―and to understand the bond market is to understand the Bond King.
Recommended by John Authers
“Reminder: I'll be conducting a live blog discussion with the great Charley Ellis about his book Winning the Losers' Game, starting at 11Am NY time. Just go to TLIV <GO> on @TheTerminal If you have questions on index investing, this is your chance! https://t.co/V5asA0BcJl” (from X)
by Charles Ellis·You?
The go-to guide for serious investors seeking long-term success, Winning the Loser’s Game explains clearly the all-important lessons learned over half a century working with the world’s leading investment experts. Called “Wall Street’s wisest man” by Money magazine, Charles Ellis converts the expertise he has developed as a consultant to the world’s largest pension, endowment and sovereign wealth funds and as a teacher at Harvard, Yale and Princeton into candid, pithy, easy to use chapters on how to succeed as an investor. This final edition of this popular book―it has already sold over 500,000 copies―is packed with important up to the minute facts and insights into… • Why indexing continues to out-perform “active” indexing. • Why fees are much higher than most of us realize. • How 401(k) plans can and should be modernized. • Why understanding behavioral economics is so important for all investors. With Winning the Loser’s Game, you have anything you need to identify your unique investment objectives, develop a realistic and powerful investment program, and enjoy superior results. In 2 – 3 hours of easy reading, you can have the same informed and candid advice that his clients gladly pay big fees to get from Charles Ellis. You’ll also have fun.
Recommended by John Authers
“Marc Chandler has long been one of Wall Street's masters in calling the short-term moves in capital markets. In Political Economy of Tomorrow, he gives us a framework for looking at the very long-term. Many of us have fixed economic terms of reference, but this book--without too many numbers and without any Greek letters--gives a new way of trying to understand the way the world is moving. Bretton Woods, and now Reagan-Thatcher have had their day; Chandler helps cut through the uncertainty to look at the third post-war economic paradigm which is now emerging. For many, including me, it will be revelatory.” (from Amazon)
by Marc Chandler·You?
by Marc Chandler·You?
Since the financial crisis of 2007-2008, the future of capitalism remains a hotly debated subject. Tracing the path of the American and global economy over the twentieth century, Political Economy of Tomorrow shows that the most significant problems of the economic system arise not from capitalism's weaknesses, but its strengths. Picking up where journalist and presidential adviser Charles Conant left off over a century ago, renowned foreign exchange strategist and professor Marc Chandler (Making Sense of the Dollar) squares off against conventional understanding of international economics by suggesting that the challenge modern economies face is not scarcity, but surplus. Exploring the past and considering the present, Chandler makes big ideas accessible as he examines the economic and social conditions that helped modern capitalism thrive and deal with surplus. By showing how changing social relationships construct a new motor for our economic engine and a new accommodation to the surplus, Political Economy of Tomorrow offers compelling arguments for what lies ahead for society in advanced capitalist countries.