Good Reading -- October 2017
Good Reading -- October 2017
Philip C. Ordway
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Books
The Fish That Ate the Whale: The Life and Times of America's Banana King -- This is a fascinating book. It is part engrossing biography of a business titan I did not know and part folk history that covers a huge arc of world events (American business and corporations in the 20th century, the development of Central America and "banana republics," WWII and the creation of Israel, the Bay of Pigs, etc.). Other than a bizarre assertion by the author that the equator crosses Honduras, I really liked this book.
Quoted
"I have been shifting positions all my life. I like changing my mind." -- Danny Kahneman (onbeing.org/programs/danie…)
"'Just leave people alone and let them do their work, at their own desks' does not get you a Harvard Business School case study." -- Matt Levine
Facts and Figures
>20% of "investors" see a 1929- or 1987-level market crash within six months. (Source: wsj.com/articles/how-t… som.yale.edu/faculty-resear…)
Smarte Carte -- the company behind those metal luggage carts in the airport -- has been retraded amongst PE firms 7x since '93 (with a bankruptcy along the way too). (Source: wsj.com/articles/buyou…)
Links
Mobile Homeland -- This is a long article, but it's interesting. (And it features Clayton Homes, among others.)
A High-End Mover Dishes on Truckstop Heirarchy, Rich People, and Moby Dick -- This was a fascinating essay about long-haul truck drivers. Thanks to Joe for sending this my way.
Richard Thaler won the Nobel Prize for making economics more human -- and more real -- Roger Lowenstein's latest column.
Why We Contradict Ourselves and confound Each Other -- Danny Kahneman interviewed on a range of topics.
It's a Fact: Supreme Court Errors Aren't Hard to Find -- The point isn't (or shouldn't be) to point a finger, but it amazing how rarely facts get checked in all fields. (And investing might be at the top of that list.) It always pays to ask "Why?" early and often.
The Thrill of Losing Money by Investing in a Manhattan Restaurant -- I had no fewer than four people send this to me (thank you!), and that was for good reason.
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Email: info at anabaticllc dot com
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