Books
The Washington Post compiles a recommended reading list from a list of putative luminaries to direct readers to books that will help them understand our current, volatile economic times. The results are typically good and bad, but this comment by an otherwise ignorable Mark Cuban was interesting:
"I don't think there is such a book. In my humble opinion, people who actually believe they can understand all the issues are the ones that got us to where we are today. In reality, there are so many variables and so little data, it's all a guess. I don't think a book exists that can explain it. Is there a book out there called 'No One Has a Clue What Is Going On and the Whole World Is Guessing'?"
Well yes Mark. Someone has written such a book. That someone is Nassim Nicholas Taleb and the book is entitled The Black Swan. Surprised you never heard of it.
FWIW, if you want to understand, nearly perfectly, what is going on today in our economy and our financial markets, I suggest The Panic of 1907: Lessons Learned from the Market's Perfect Storm.
"I don't think there is such a book. In my humble opinion, people who actually believe they can understand all the issues are the ones that got us to where we are today. In reality, there are so many variables and so little data, it's all a guess. I don't think a book exists that can explain it. Is there a book out there called 'No One Has a Clue What Is Going On and the Whole World Is Guessing'?"
Well yes Mark. Someone has written such a book. That someone is Nassim Nicholas Taleb and the book is entitled The Black Swan. Surprised you never heard of it.
FWIW, if you want to understand, nearly perfectly, what is going on today in our economy and our financial markets, I suggest The Panic of 1907: Lessons Learned from the Market's Perfect Storm.
posted by Donny Baseball at 9:30 AM
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