Edwin Lefèvre’s Reminiscences of a Stock Operator is a fictionalized autobiography based on the life of Jesse Livermore (1877–1940) who was a pioneer of day trading and one of the greatest investors of all time. At his peak in 1929, Livermore was worth $100 million, which in today’s dollars roughly equates to $1.5 billion, making him one of the richest people in the world at that time. The book, which began as a series of articles published during 1922 and 1923 in The Saturday Evening Post, tells the story of Livermore’s progression from day trading in the then so-called “bucket shops” to market speculator, market maker, and market manipulator to Wall Street “Boy Plunger” where he won and lost tens of millions of dollars. This classic of American business writing continues to offer sharp insights into the art and psychology of trading and speculation. It is one of the most widely read, highly recommended investment books of all time. This Warbler Classics edition includes an illustrated life of Jesse Livermore. Edwin Lefèvre (1871–1943) was an American journalist, writer, and diplomat who is most noted for his writings about Wall Street, most notably Reminiscences of a Stock Operator (1923). He began his career as a journalist and eventually became a stockbroker as well. Edwin Lefèvre’s first short stories were published under the title, Wall Street Stories (1901), which were followed by several novels about money and finance. Lefèvre was appointed an Ambassador of the United States by President Howard Taft in 1909, serving in posts in Italy, France, and Spain. In 1913, Lefévre returned to his home in Vermont where he resumed writing novels and contributing short stories for magazines such as The Saturday Evening Post and McClure’s. “A must-read classic for all investors, whether brand-new or experienced.” —Investor’s Business Daily “Although...first published some seventy years ago, its take on crowd psychology and market timing is as timely as last summer’s frenzy on the foreign exchange markets.” —Worth magazine
Interviews with successful traders in stock, commodity, and currency markets outline their sales methods and techniques, and their personal advice for other traders
Economics is a science. It primarily examines how decisions are made, which alternatives provide greatest benefits to various stakeholders. Contrary to popular belief, economics is not about money. It has and continues to be about the study of allocation of scarce resources (behaviours). We enforce them through incentives and disincentives (punishments).You don’t need to be an economist or technologist to understand the book. We keep things high-level to digest the information, yet coming from fundamental academic research.The difference between economics (soft science) and physics (hard science) is that economics is continuously evolves because it is a study of human behaviours. As we moved from Web 1 to Web 2 and now Web 3, the economics 101 that we initially understood has changed.While is important to be coding the tech infrastructure of Web 3.0 and having ideas of what Web 3.0 is like, an important aspect is the economics and incentive alignment of Web 3.0 users. It is easy to create a token or currency out of thin air. The token is only valuable when the economics make sense.The aim of this book is to dive into the core foundational principles of economics in Web 3.0. We explore the evolution to economics, the change in principles we learnt in Econs 101, and the new environment that economics will exist in.Then, we explore ways to apply these foundational principles in Web 3.0, with or without a token. We also tap into the general mathematics that defines the economic mechanisms.
[ MP3 CD Format ] A venture capitalist draws on expertise developed at the premier venture capital firm, Andreessen Horowitz, and as an executive at Uber to address how tech's most successful products have solved the dreaded "cold start problem" -- by leveraging networks effects to launch and scale towards billions of users. Although software has become easier to build, launching and scaling new products and services remains difficult. Startups face daunting challenges entering the technology ecosystem, including stiff competition, copycats, and ineffective marketing channels. Teams launching new products must consider the advantages of "the network effect," where a product or service's value increases as more users engage with it. Apple, Google, Microsoft, and other tech giants utilize network effects, and most tech products incorporate them, whether they're messaging apps, workplace collaboration tools, or marketplaces. Network effects provide a path for fledgling products to break through, attracting new users through viral growth and word of mouth. Yet most entrepreneurs lack the vocabulary and context to describe them - much less understand the fundamental principles that drive the effect. What exactly are network effects? How do teams create and build them into their products? How do products compete in a market where every player has them? Andrew Chen draws on his experience and on interviews with the CEOs and founding teams of LinkedIn, Twitch, Zoom, Dropbox, Tinder, Uber, Airbnb, Pinterest - to provide unique insights in answering these questions. Chen also provides practical frameworks and principles that can be applied across products and industries. The Cold Start Problem reveals what makes winning networks successful, why some startups fail to successfully scale, and most crucially, why products that create and compete using the network effect are virally important today.
What is money? How does it work, and what effects does it have on our society and economy? Hardly anyone has penetrated the answers to these questions better and explained them more comprehensibly than Alfred Lansburgh, who published them in the form of letters to his son, under the pseudonym “Argentarius” in his publishing house “Die Bank”. This edition contains the following collections of letters from the years 1921 to 1923: * On Money * Valuta * The Central Bank * Monetary Crisis
Perhaps everyone has heard of Bitcoin or cryptocurrencies. They appear in the media at moments when they are drawing their last breath (the price has dropped a bit) or when everyone is going crazy and buying (the price has gone up a bit). However, only a few people are experimenting with using them in their lives. Can something so volatile be used reliably? And if we don't care about the price, can cryptocurrencies be used in other ways? For example, to fund creators, or for crowdfunding. Can you use cryptocurrencies to take out a loan? How to use them in international trade or to promote your products? How to build a local crypto economy in your social bubble? Can bitcoin be used to expand personal and social contacts? We can even use bitcoin as a form of "insurance" against the failure of the traditional financial system. Juraj Bednár is a serial entrepreneur. He has founded several companies in the field of information technology. He is a co-founder of the non-profit project Paralelná Polis, thanks to which he discovered the potential of cryptocurrencies in life and business. By combining the principle of hacking (ethical hacking, life hacking, ...) and cryptocurrencies, he creates mindsets with which you can introduce cryptocurrencies into your life. The aim of his books is to open the minds of his readers to new possibilities – if we have the courage to experiment.
Humanity is at a crossroads. Never have we had so much potential to do good in the world or literally transform our civilization into transnational gulags. Almost 175 Years have passed since the Communist Manifesto was written and circulated by Marx and Engels. Some statistics point to it being one of the most widely read and distributed works of political science and economics. However, the core ideology has led to hundreds of millions of murders worldwide at the hands of those who fervently 'believed' and 'reformed' society by its decrees. It's about time something was written to help challenge and potentially unwind some of the moral, intellectual, social, and economic damage done since. * Why is it that an idea with a consistent failure rate draws more young people to it than ever before? * What is it about the original book that's so infectious that it continues to influence people around the world almost two centuries later? * What elements of the original text are accurate observations, and what conclusions are drawn ignorant of human psychology and praxeology that lead to devastating consequences? We wrote The UnCommunist Manifesto to answer these questions and much more. We emulated the format and length of the Communist Manifesto, so it is a sharp, concise and lucid read, but the message contained is a reminder for people to reach upward and become better versions of themselves instead of renouncing individual responsibility by classifying themselves into static groups and intellectually validating their desire to bring others down to their level. One goal was to change the axis of the “struggle.” Marx and Engels outlined it as “a struggle between two classes’, whom an individual is arbitrarily assigned to based on their material wealth. We reject this and assert that the real struggle is between individual autonomy, sovereignty, and responsibility versus the collectivist tendency toward group identity politics, rights, entitlements, and co-dependencies. Between cooperation and coercion. It always has been. We hope to see it used as an inspirational text in the years ahead as Individuals seek to maintain autonomy and claim sovereignty, while the collective seeks to coerce. Our longer-term hope is that this text can be a beacon of hope, sanity, and sense in a world being swallowed up by the envy inherently justified by Marxist doctrine. Humanity is at a crossroads. Never have we had so much potential to do good in the world, or literally transform our civilisation into transnational gulags. The siren call of Marxist entropy is stronger than ever. The greatness and sanctity of the individual and the soul must counter it. May this book be not just an answer to the misguided, nihilistic, and often dangerous ideology that is Marxism, but a message of hope, responsibility, and liberty for all. This is the first edition, and we hope that you find deep meaning within it. Aleks Svetski & Mark Moss
One of the biggest questions of the financial crisis has not been answered until now: What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers—right from the belly of the beast. In A Colossal Failure of Common Sense, Larry McDonald, a Wall Street insider, reveals, the culture and unspoken rules of the game like no book has ever done. The book is couched in the very human story of Larry McDonald’s Horatio Alger-like rise from a Massachusetts “gateway to nowhere” housing project to the New York headquarters of Lehman Brothers, home of one of the world’s toughest trading floors. We get a close-up view of the participants in the Lehman collapse, especially those who saw it coming with a helpless, angry certainty. We meet the Brahmins at the top, whose reckless, pedal-to-the-floor addiction to growth finally demolished the nation’ s oldest investment bank. The Wall Street we encounter here is a ruthless place, where brilliance, arrogance, ambition, greed, capacity for relentless toil, and other human traits combine in a potent mix that sometimes fuels prosperity but occasionally destroys it. The full significance of the dissolution of Lehman Brothers remains to be measured. But this much is certain: it was a devastating blow to America’s—and the world’s—financial system. And it need not have happened. This is the story of why it did.
A Comprehensive Overview of the Past, Present, and Future of Money Broken Money explores the history of money through the lens of technology. Politics can affect things temporarily and locally, but technology is what drives things forward globally and permanently. The book's goal is for the reader to walk away with a deep understanding of money and monetary history, both in terms of theoretical foundations and in terms of practical implications. From shells to gold, from papyrus bills of exchange to central banks, and from the invention of the telegraph to the creation of Bitcoin, Lyn Alden walks the reader through the emergence of new technologies that have shaped what we use as money over the ages. And beyond that, Alden explores the concept of what money is at its very foundation to give the reader a framework to analyze and compare different types of monetary technologies and monetary theories. The book also takes a distinctively human look at how money impacts the lives of real people, and how new monetary technologies shape the power structures within society. In the modern era, energy abundance and technological enhancements have broadly improved human well-being, but the global monetary system has been slow to keep up. There are over 160 active currencies in the world, each with a local monopoly over its own country, and with little or no acceptance elsewhere. Many of them are rapidly diluted, which continually devalues the savings and the wages of the billions of people who live and work within those jurisdictions. Being born in the "wrong" country makes saving money far harder than it needs to be. Nigeria has a population of over 200 million people and has averaged 13% annualized inflation over the past decade. Egypt cut its currency in half relative to the dollar twice over the past decade, which instantly devalued the savings and wages of its 100 million citizens. Dozens of countries have experienced at least triple-digit year-over-year inflation within the past four decades, including Brazil that outright hyperinflated in the 1990s while it was the fifth most populous country in the world. Europe and Japan had $18 trillion worth of negative-yielding bonds in 2019, right before a wave of inflation wiped their purchasing power away. In 2021, the chairman of the U.S. Federal Reserve dismissed the idea that the sharp rise in the money supply from the pandemic stimulus would lead to price inflation. By 2022, as major inflation emerged, the chairman rapidly changed his outlook and tightened monetary policy so quickly that it led to the failure of some of the largest banks in the country. How did we get to this point? Why isn't our money better than this in the 21st century? Broken Money answers these questions by examining the current mix of technology that has led to these limitations, and then explores emerging technologies that may be able to provide us with a monetary system that is fit for the modern era.
MP3 CD Format In this pathbreaking work, now with a new introduction, Edward S. Herman and Noam Chomsky show that, contrary to the usual image of the news media as cantankerous, obstinate, and ubiquitous in their search for truth and defense of justice, in their actual practice they defend the economic, social, and political agendas of the privileged groups that dominate domestic society, the state, and the global order. Based on a series of case studies—including the media's dichotomous treatment of "worthy" versus "unworthy" victims, "legitimizing" and "meaningless" Third World elections, and devastating critiques of media coverage of the U.S. wars against Indochina—Herman and Chomsky draw on decades of criticism and research to propose a Propaganda Model to explain the media's behavior and performance. Their new introduction updates the Propaganda Model and the earlier case studies, and it discusses several other applications.
A Business Week, New York Times Business, and USA Today Bestseller "Ambitious and readable . . . an engaging introduction to the oddsmakers, whom Bernstein regards as true humanists helping to release mankind from the choke holds of superstition and fatalism." ―The New York Times "An extraordinarily entertaining and informative book." ―The Wall Street Journal "A lively panoramic book . . . Against the Gods sets up an ambitious premise and then delivers on it." ―Business Week "Deserves to be, and surely will be, widely read." ―The Economist "[A] challenging book, one that may change forever the way people think about the world." ―Worth "No one else could have written a book of such central importance with so much charm and excitement." ―Robert Heilbroner author, The Worldly Philosophers "With his wonderful knowledge of the history and current manifestations of risk, Peter Bernstein brings us Against the Gods. Nothing like it will come out of the financial world this year or ever. I speak carefully: no one should miss it." ―John Kenneth Galbraith Professor of Economics Emeritus, Harvard University In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one of the central ideas that distinguishes modern times from the distant past. Against the Gods chronicles the remarkable intellectual adventure that liberated humanity from oracles and soothsayers by means of the powerful tools of risk management that are available to us today. "An extremely readable history of risk." ―Barron's "Fascinating . . . this challenging volume will help you understand the uncertainties that every investor must face." ―Money "A singular achievement." ―Times Literary Supplement "There's a growing market for savants who can render the recondite intelligibly-witness Stephen Jay Gould (natural history), Oliver Sacks (disease), Richard Dawkins (heredity), James Gleick (physics), Paul Krugman (economics)-and Bernstein would mingle well in their company." ―The Australian
UPDATED & EXTENDED 2ND EDITION - with a brand-new foreword by Merryn Somerset Webb Let the market come to you Deep Value Investing by Jeroen Bos is an incredibly candid and revealing guide to the secrets of deep value investment. Written by an investor with a long and remarkable track record, it shares for the first time the ins and outs of finding high-potential undervalued stocks before anyone else. Deep value investing means finding companies that are genuine bargains that can pay back phenomenally over the long term. They are firms so cheap that even if they were to close tomorrow their assets would pay you out at a profit. But if they can turn things around, the rewards will be many times greater ... These were the favourite shares of Benjamin Graham, author of The Intelligent Investor. Inspired by Graham's classic and with a long history of discovering these great value stocks - sometimes known as 'bargain issues' or 'netnets' - author and investor Jeroen Bos reveals: - how to use only publicly available information to discover these shares and filter the gold from the dross - everything he did when analysing, purchasing, monitoring and selling more than ten recent successful deep value investments - the complete philosophy behind deep value investing, and the ins and outs of this strategy in practice - what can go wrong and how to minimise the chances of it happening to you. Deep value investing has a better track record than almost any other approach to the market. Even better, it doesn't require minute and technical knowledge of a company, nor is it fixated on earnings or often-unreliable future projections. It's all about the balance sheet and patience. This makes it the perfect investing approach for those who want to see phenomenal stock market returns without wasting time or commission costs.