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Author: Vikram Mansharamani
Publisher: John Wiley & Sons
ISBN: 1118028570
Category : Business & Economics
Languages : en
Pages : 287
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Book Description
A multi-disciplinary framework through which to spot financial bubbles before they burst. Based on a popular undergraduate seminar, entitled Financial Booms & Busts, taught by the author at Yale University, Boombustology presents a multi-disciplinary framework for identifying unsustainable booms and forthcoming busts. The magnitude of our recent financial crisis mandates a firm understanding of this phenomenon before the next crisis occurs. Boombustology provides an in-depth look at several major booms and busts and offers a solid framework for thinking about future occurrences. Examines why booms and busts are not random and can therefore be identified Focuses upon various theoretical and disciplinary lenses useful in the study of booms and busts Contains a framework for thinking about and identifying forthcoming financial bubbles including several tell-tale indicators of a forthcoming bust. Illustrates the framework in action by evaluating China as a potential bubble in the making. If you want to make better decisions in today’s turbulent investment environment, understanding the dynamics of booms and busts is the best place the start. Boombustology can help you achieve this elusive goal. Vikram Mansharamani is a Lecturer at Yale University and a global equity investor.
Author: Vikram Mansharamani
Publisher: John Wiley & Sons
ISBN: 1118028570
Category : Business & Economics
Languages : en
Pages : 287
Get Book
Book Description
A multi-disciplinary framework through which to spot financial bubbles before they burst. Based on a popular undergraduate seminar, entitled Financial Booms & Busts, taught by the author at Yale University, Boombustology presents a multi-disciplinary framework for identifying unsustainable booms and forthcoming busts. The magnitude of our recent financial crisis mandates a firm understanding of this phenomenon before the next crisis occurs. Boombustology provides an in-depth look at several major booms and busts and offers a solid framework for thinking about future occurrences. Examines why booms and busts are not random and can therefore be identified Focuses upon various theoretical and disciplinary lenses useful in the study of booms and busts Contains a framework for thinking about and identifying forthcoming financial bubbles including several tell-tale indicators of a forthcoming bust. Illustrates the framework in action by evaluating China as a potential bubble in the making. If you want to make better decisions in today’s turbulent investment environment, understanding the dynamics of booms and busts is the best place the start. Boombustology can help you achieve this elusive goal. Vikram Mansharamani is a Lecturer at Yale University and a global equity investor.
Author: William Quinn
Publisher: Cambridge University Press
ISBN: 1108369359
Category : Business & Economics
Languages : en
Pages : 297
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Book Description
Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.
Author: Vikram Mansharamani
Publisher: Harvard Business Press
ISBN: 1633699226
Category : Business & Economics
Languages : en
Pages : 176
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Book Description
We've outsourced too much of our thinking. How do we get it back? Have you ever followed your GPS device to a deserted parking lot? Or unquestioningly followed the advice of an expert—perhaps a doctor or financial adviser—only to learn later that your own thoughts and doubts were correct? And what about the stories we've all heard over the years about sick patients—whether infected with Ebola or COVID-19—who were sent home or allowed to travel because busy staff people were following a protocol to the letter rather than using common sense? Why and how do these kinds of things happen? As Harvard lecturer and global trend watcher Vikram Mansharamani shows in this eye-opening and perspective-shifting book, our complex, data-flooded world has made us ever more reliant on experts, protocols, and technology. Too often, we've stopped thinking for ourselves. With stark and compelling examples drawn from business, sports, and everyday life, Mansharamani illustrates how in a very real sense we have outsourced our thinking to a troubling degree, relinquishing our autonomy. Of course, experts, protocols, and computer-based systems are essential to helping us make informed decisions. What we need is a new approach for integrating these information sources more effectively, harnessing the value they provide without undermining our ability to think for ourselves. The author provides principles and techniques for doing just that, empowering readers with a more critical and nuanced approach to making decisions. Think for Yourself is an indispensable guide for those looking to restore self-reliant thinking in a data-driven and technology-dependent yet overwhelmingly uncertain world.
Author: Murray Sabrin
Publisher:
ISBN: 9781637423646
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Will Your Business Be Prepared When the Bubble Bursts? Sabrin's book is a must guide for corporate executives, managers, and business owners, for any size company; and for MBA students and executives in professional education programs and seminars to assist them better manage their companies during the boom-bust cycle. The business cycle in the United States has been characterized booms and busts for decades. But how can corporate executives and their firms not just survive--but also thrive--when economic bubbles burst? And how can small business owners steer their companies during the business cycle so they too can thrive and survive. This book is designed to give them tools and strategies to do that. After that grounding in fundamentals, readers are given specific tools and strategies that entrepreneurs and executives can use to help their companies prepare for when the next bubble bursts.
Author: Andrew Smithers
Publisher: Oxford University Press
ISBN: 0192662716
Category : Business & Economics
Languages : en
Pages : 216
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Book Description
The current consensus economic model, the neoclassical synthesis, depends on aprioristic assumptions that are shown to be invalid when tested against the data and fails to include finance. Economic policy based on this consensus has led to the financial crisis of 2008, the 'Great Recession' that followed, and the slow subsequent rate of growth. In The Economics of the Stock Market, Andrew Smithers proposes a model that is robust when tested, and by including the impact of the stock market on the economy, overcomes both these defects. The faults of the current consensus model are shown to result typically from an unscientific methodology in which assumptions are held to be valid despite their incompatibility with data evidence. Smithers demonstrates examples of these faults: the Miller/Modigliani Theorem (the assumption that leverage does not affect the value of produced capital assets); the assumption that short-term and long-term interest rates, and the cost of equity capital, are co-determined; and the assumption that the decisions of corporate managements aim to maximise the present value of corporate assets ('profit maximisation') rather than the value determined by the stock market. The Economics of the Stock Market proposes a model that includes and explains the stationarity of real returns on equity, based on the interaction of the differing utility preferences of the managers of companies and the owners of financial capital. These claims are highly controversial, and Smithers proposes that the relative merits of the neoclassical synthesis and this proposed alternative can only be properly considered through public debate.
Author: Steven G. Mandis
Publisher: Harvard Business Press
ISBN: 1422194205
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
This is the story of the slow evolution of Goldman Sachs—addressing why and how the firm changed from an ethical standard to a legal one as it grew to be a leading global corporation. In What Happened to Goldman Sachs, Steven G. Mandis uncovers the forces behind what he calls Goldman’s “organizational drift.” Drawing from his firsthand experience; sociological research; analysis of SEC, congressional, and other filings; and a wide array of interviews with former clients, detractors, and current and former partners, Mandis uncovers the pressures that forced Goldman to slowly drift away from the very principles on which its reputation was built. Mandis evaluates what made Goldman Sachs so successful in the first place, how it responded to pressures to grow, why it moved away from the values and partnership culture that sustained it for so many years, what forces accelerated this drift, and why insiders can’t—or won’t—recognize this crucial change. Combining insightful analysis with engaging storytelling, Mandis has written an insider’s history that offers invaluable perspectives to business leaders interested in understanding and managing organizational drift in their own firms.
Author: Robert Greene
Publisher: Penguin
ISBN: 014312417X
Category : Self-Help
Languages : en
Pages : 369
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Book Description
From the bestselling author of The 48 Laws of Power and The Laws of Human Nature, a vital work revealing that the secret to mastery is already within you. Each one of us has within us the potential to be a Master. Learn the secrets of the field you have chosen, submit to a rigorous apprenticeship, absorb the hidden knowledge possessed by those with years of experience, surge past competitors to surpass them in brilliance, and explode established patterns from within. Study the behaviors of Albert Einstein, Charles Darwin, Leonardo da Vinci and the nine contemporary Masters interviewed for this book. The bestseller author of The 48 Laws of Power, The Art of Seduction, and The 33 Strategies of War, Robert Greene has spent a lifetime studying the laws of power. Now, he shares the secret path to greatness. With this seminal text as a guide, readers will learn how to unlock the passion within and become masters.
Author: Thomas A. King
Publisher: John Wiley & Sons
ISBN: 1118044614
Category : Business & Economics
Languages : en
Pages : 260
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Book Description
The world certainly suffers no shortage of accounting texts. The many out there help readers prepare, audit, interpret and explain corporate financial statements. What has been missing is a book offering context and discussion for divisive issues such as taxes, debt, options, and earnings volatility. King addresses the why of accounting instead of the how, providing practitioners and students with a highly readable history of U.S. corporate accounting. More Than a Numbers Game: A Brief History of Accounting was inspired by Arthur Levitt's landmark 1998 speech delivered at New York University. The Securities and Exchange Commission chairman described the too-little challenged custom of earnings management and presaged the breakdown in the US corporate accounting three years later. Somehow, over a one-hundred year period, accounting morphed from a tool used by American railroad managers to communicate with absent British investors into an enabler of corporate fraud. How this happened makes for a good business story. This book is not another description of accounting scandals. Instead it offers a history of ideas. Each chapter covers a controversial topic that emerged over the past century. Historical background and discussion of people involved give relevance to concepts discussed. The author shows how economics, finance, law and business customs contributed to accounting's development. Ideas presented come from a career spent working with accounting information.
Author: Harold L. Vogel
Publisher: Springer Nature
ISBN: 3030791823
Category : Business & Economics
Languages : en
Pages : 619
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Book Description
Economists broadly define financial asset price bubbles as episodes in which prices rise with notable rapidity and depart from historically established asset valuation multiples and relationships. Financial economists have for decades attempted to study and interpret bubbles through the prisms of rational expectations, efficient markets, equilibrium, arbitrage, and capital asset pricing models, but they have not made much if any progress toward a consistent and reliable theory that explains how and why bubbles (and crashes) evolve and are defined, measured, and compared. This book develops a new and different approach that is based on the central notion that bubbles and crashes reflect urgent short-side rationing, which means that, as such extreme conditions unfold, considerations of quantities owned or not owned begin to displace considerations of price.
Author: Mark Thornton
Publisher: Ludwig von Mises Institute
ISBN: 1610166884
Category : Business & Economics
Languages : en
Pages : 275
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Book Description
The Skyscraper Curse is Dr. Mark Thornton's definitive work on booms and busts, and it explains why only Austrian economists really understand them. It makes business cycle theory accessible to a whole new 21st-century audience. And they need it, especially those under 40. Many of the brilliant quants working on Wall Street and at the Fed barely remember the Crash of 2008, much less understand it. But Mark Thornton does, and his book is a warning about overheated equity markets, over-inflated housing prices, and clueless central bankers. Given the shaky stock markets lately, 2018 may be the year the Fed’s latest bubble bursts. And when it does, it will be even more painful than 10 years ago. In fact, US household and business debt is now one trillion dollars higher than 2008. Mark is well known as an expert on bubbles and Fed malfeasance. His work appears in outlets like Wall Street Journal, Bloomberg, Forbes, The Economist, Barron’s, and Investor’s Business Daily. His now-infamous Skyscraper Index theory draws the connection between loose monetary policy, artificially low interest rates, and vanity construction projects. Put the three together and it doesn’t turn out well. And let’s not forget that Dr. Thornton was among only a handful of economists to warn about the dangerous housing bubble in 2004, and again in 2006. Cabbies and waiters bought up condos with no money down in places like Las Vegas. Prices rose 25 percent or more every year in some coastal markets. Even people with terrible credit financed houses at five or seven times their annual income. All of it was made possible by the Fed and its mania for low interest rates. So when the experts said “Nobody could have seen this coming,” the Mises Institute had Mark’s articles and papers ready to go. The housing crash, and the meltdown in equity markets less than a year later, were thoroughly explained by Austrian business cycle theory. And Mark was the capable face of the Mises Institute during it all. Without a lay-friendly book like The Skyscraper Curse, millions more Americans will be duped by the next crash. Dr. Thornton’s book tells the story that needs to be told. It will be among the only alternative explanations available when the next crisis comes.
