Money and Finance
This tweet by Jesse Livermore got me thinking:
It got me thinking about Michael Lewis' last book Boomerang, which as ever was very well written. It has some pretty scary stories with Greece and Ireland as two of the worst case studies. The book calls them the new third world, effectively layering gloom on top of boom about state of the markets. I ran a quick chart on YCharts from the publication date of Boomerang (Oct 3, 2011) til now. The markets that rightly calls disastrous economic situations in the book have shown a fair amount of resiliency since Boomerang came out
Since Boomerang came out in October 2011, Ireland (EIRL) +107%, Greece (GREK) + 64%, Germany (EWG) +54%, and S&P +48%. Not bad.
I enjoyed Boomerang, and I am not saying that its a contrary indicator, you would have required a very high risk tolerance to buy things in those markets. Still any book and one by a skilled storyteller especially should be taken with heaping buckets of salt. Jim Collins' Good to Great is another example. Companies that were studied as almost evergreen in the book later turned out to be in need of bail outs Fannie Mae and bankrupt (Circuit City).
Obviously there was real risk to what Lewis captured, but at the same time publication could also be viewed as a sign of John Templeton's maximum pessimism.
- John Mauldin: The Good, The Bad, And The Greek (risks)
Greece was (and is) the first real test of the euro. Until the Greek crisis, there was no real need for any eurozone country to actually write a check for any other member. Ireland obligingly shouldered the responsibility for its own bad bank debts, paying...
- Wsj Interview With Michael Lewis
Found via The Big Picture. Link ……………….. Related book: Boomerang: Travels in the New Third World (also available as an Audio Book) ...
- Hedgehogs And Foxes
“The fox knows many things, but the hedgehog knows one big thing.” -Archilochos In the book Boombustology (which I’d put in my list of ‘Top 10 Most Important Books on Investing’), Vikram Mansharamani states that: The basic underlying logic of...
- John Mauldin: When Irish Eyes Are Voting
Most of the world is focused on the Middle East and Libya, and rightly so. We will look at that in a minute. And I agree the Middle East is important. But my eyes are focused on what I think is the far more important event of the day, and that is the...
- Hft Drama Versus Dramatically Lower Costs
Michael Lewis launched his HFT book, did Sixty Minutes on Sunday, and here we are on Wednesday and HFT is still dominating the news cycle. Whatever you think of HFT, Lewis has already won. In our ADHD society, that we are still talking about his book...
Money and Finance
Post Boomerang Stock Market Performance
This tweet by Jesse Livermore got me thinking:
Since Boomerang came out in October 2011, Ireland (EIRL) +107%, Greece (GREK) + 64%, Germany (EWG) +54%, and S&P +48%. Not bad.
I enjoyed Boomerang, and I am not saying that its a contrary indicator, you would have required a very high risk tolerance to buy things in those markets. Still any book and one by a skilled storyteller especially should be taken with heaping buckets of salt. Jim Collins' Good to Great is another example. Companies that were studied as almost evergreen in the book later turned out to be in need of bail outs Fannie Mae and bankrupt (Circuit City).
Obviously there was real risk to what Lewis captured, but at the same time publication could also be viewed as a sign of John Templeton's maximum pessimism.
- John Mauldin: The Good, The Bad, And The Greek (risks)
Greece was (and is) the first real test of the euro. Until the Greek crisis, there was no real need for any eurozone country to actually write a check for any other member. Ireland obligingly shouldered the responsibility for its own bad bank debts, paying...
- Wsj Interview With Michael Lewis
Found via The Big Picture. Link ……………….. Related book: Boomerang: Travels in the New Third World (also available as an Audio Book) ...
- Hedgehogs And Foxes
“The fox knows many things, but the hedgehog knows one big thing.” -Archilochos In the book Boombustology (which I’d put in my list of ‘Top 10 Most Important Books on Investing’), Vikram Mansharamani states that: The basic underlying logic of...
- John Mauldin: When Irish Eyes Are Voting
Most of the world is focused on the Middle East and Libya, and rightly so. We will look at that in a minute. And I agree the Middle East is important. But my eyes are focused on what I think is the far more important event of the day, and that is the...
- Hft Drama Versus Dramatically Lower Costs
Michael Lewis launched his HFT book, did Sixty Minutes on Sunday, and here we are on Wednesday and HFT is still dominating the news cycle. Whatever you think of HFT, Lewis has already won. In our ADHD society, that we are still talking about his book...