Lords of Finance: The Bankers Who Broke the World
https://www.amazon.com/Lords-Finance-Bankers-Broke-World/dp/...
Ask HN: Book recommendations for understanding financial systems?
201–210 of 211 posts
Re: Ask HN: Book recommendations for understanding financial systems?
#202Earlier quoted context omitted.
Forecast is actually for a 3rd of 3rd wave down which is likely to be larger than anything seen so far maybe 15% + over one or two days, and then the midpoint of that should be the halfway point from the Feb 19th top to the eventual first big low point.
Sunday evening and stock market futures are limit down 5%
Monday S&P 500 down 11% - doesn't look done yet
Re: Ask HN: Book recommendations for understanding financial systems?
#203Earlier quoted context omitted.
Just on a quick scan we've got Graham, Buffett, Soros, Taleb... those are before I need to go and look up personal net worth for some of the other names. I'd bet on Burton Malkiel having done alright for himself, too.
Graham, Buffett, Soros – sure, ok, although I doubt they're giving away the keys to the kingdom in their books. Buffet himself is notorious for saying that great ideas are proprietary and not to be shared. In the investment world, in stark contrast to the tech community, ideas are as valuable as execution. Even in VC proprietary dealflow is considered to be valuable. There is actually some controversy as to how much…
Right, so your argument is what? That no valuable idea is ever written down? Or that no written down idea is valuable? Why would either of these be true?
Re: Ask HN: Book recommendations for understanding financial systems?
#204Meltdown by Thomas E. Woods
The Great Deformation by David Stockman
The Fed Flunks: My Speech at the New York Federal Reserve Bank by Robert Wenzel
Economics in One Lesson by Henry Hazlitt
Re: Ask HN: Book recommendations for understanding financial systems?
#205Earlier quoted context omitted.
Graham, Buffett, Soros – sure, ok, although I doubt they're giving away the keys to the kingdom in their books. Buffet himself is notorious for saying that great ideas are proprietary and not to be shared. In the investment world, in stark contrast to the tech community, ideas are as valuable as execution. Even in VC proprietary dealflow is considered to be valuable. There is actually some controversy as to how much…
Right, so your argument is what? That no valuable idea is ever written down? Or that no written down idea is valuable? Why would either of these be true?
I see a common fantasy among developers; they want to apply their sophisticated intellect and technical knowledge towards exploiting financial markets. So, my argument is that if this is what one is up to, one is not going to find many valuable ideas spelled out and spoon fed in a book.
Re: Ask HN: Book recommendations for understanding financial systems?
#206Re: Ask HN: Book recommendations for understanding financial systems?
#207Earlier quoted context omitted.
Right, so your argument is what? That no valuable idea is ever written down? Or that no written down idea is valuable? Why would either of these be true?
I see a common fantasy among developers; they want to apply their sophisticated intellect and technical knowledge towards exploiting financial markets. So, my argument is that if this is what one is up to, one is not going to find many valuable ideas spelled out and spoon fed in a book.
But that's a non sequitur. There's no connection between the intent of the reader and the value of the content. Whether the reader is in the right mental state to learn from it is another matter entirely...
Re: Ask HN: Book recommendations for understanding financial systems?
#208Re: Ask HN: Book recommendations for understanding financial systems?
#209Earlier quoted context omitted.
I see a common fantasy among developers; they want to apply their sophisticated intellect and technical knowledge towards exploiting financial markets. So, my argument is that if this is what one is up to, one is not going to find many valuable ideas spelled out and spoon fed in a book.
But that's a non sequitur. There's no connection between the intent of the reader and the value of the content. Whether the reader is in the right mental state to learn from it is another matter entirely...
Ok. I acknowledge your points and am glad we had this discussion.
Re: Ask HN: Book recommendations for understanding financial systems?
#210I will offer that 'Where does money come from' By Josh Ryan-Collins, Tony Greenham, Richard Werner, Andrew Jackson. Its a fantastic short book on how money actually works in this system.
The follow up to this is Richard Werners study on central banking.
A lost century in economics: Three theories of banking and the conclusive evidence
https://www.sciencedirect.com/science/article/pii/S105752191...
This is one of the first empirical tests of theories of central banking and how money flows.
Anything by Richard Werner I think is lucid. He has lots of youtube videos that goes into the details in the book and this study.