The Day the Markets Roared

The Day the Markets Roared

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  • Author: Henry Kaufman
  • Publisher: BenBella Books
  • ISBN: 1953295207
  • Category : Business & Economics
  • Languages : en
  • Pages : 217

Legendary economist Dr. Henry Kaufman shares a classic Wall Street story that has never been fully told: a firsthand account of the day in August 1982 that would define US economics for decades Dr. Henry Kaufman is the most famous economist Wall Street has ever seen, renowned well beyond the financial industry. He was the subject of New Yorker cartoons, had cameos in drama productions and two seminal literary works of the 1980s, was subject to death threats, and enjoyed the nickname "Dr. Doom." His pinnacle of influence arrived on August 17, 1982. That single day turned out to be the beginning of the world that we now live in. At the time, after painful years of high interest rates and the inflation of the late 1960s and 1970s, consumers were paying 17 percent and higher to borrow money. But by the end of one summer day almost 40 years ago, the stock market had undergone its second-biggest rally since WWII, while bond prices soared and interest rates plunged. Dr. Kaufman himself had written a memo that sparked this tremendous boom-and it set the global markets on fire, marking the start of almost four decades of US economic growth. The Day the Markets Roared answers the questions: • Why did Dr. Kaufman break with his longstanding bearish views to make a momentous prediction that spurred blaring headlines everywhere from Brazil to Beijing? • How could a private individual exercise such profound influence over global financial markets? • How did we get to today's rock-bottom and even negative rates? And what is their continuing impact on the economy, our financial markets and our livelihoods? The Day the Markets Roared is a firsthand, minute-by-minute account of one remarkable day in financial and economic history, with a rich cast of characters, from Salomon's John Gutfreund to interest rate guru Sydney Homer, to Dr. Kaufman's longtime friend, Fed Chairman Paul Volcker. Dr. Kaufman reflects on the lessons of the historic August 1982 episode, harkening back to a more optimistic moment in American history, and offering inspiration for better times ahead.


Other People's Money

Other People's Money

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  • Author: Nomi Prins
  • Publisher: The New Press
  • ISBN: 1595586628
  • Category : Business & Economics
  • Languages : en
  • Pages : 370

Critical, independent voices are seldom found within the citadels of international finance. That's what makes Nomi Prins unique. During fifteen years as an executive at skyscraping banks like Goldman Sachs, Bear Stearns, and Lehman Brothers, Prins never lost her ability to see the broader picture. She walked away from the game in 2002 out of disgust with the burgeoning corporate corruption, just as its magnitude was becoming clear to the public. In this acclaimed exposé, named one of the best books of 2004 by The Economist, Barron's, Library Journal, and The Progressive, Prins provides fascinating firsthand details of day-to-day life in the financial leviathans, with all its rich absurdities. She demonstrates how the much-publicized fraud of recent years resulted from deregulation that trashed the rules of responsible corporate behavior, and not simply the unbridled greed of a select few. While the stock market roared on the back of phony balance sheets, executives made out like bandits and Congress looked the other way. Worse yet, as the new foreword to the paperback edition makes clear, everything remains in place for a repeat performance.


Tectonic Shifts in Financial Markets

Tectonic Shifts in Financial Markets

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  • Author: Henry Kaufman
  • Publisher: Springer
  • ISBN: 3319483870
  • Category : Business & Economics
  • Languages : en
  • Pages : 186

In this wide-ranging book, Wall Street legend Henry Kaufman recounts the events surrounding the catastrophic collapse of Lehman Brothers from his then vantage point on the board. He explains how, ironically, the Federal Reserve’s shortcomings contributed to its growing power. And he argues that Dodd-Frank – by sanctioning rather than truly addressing the too‐big‐to‐fail dilemma – squandered a rare opportunity for essential reform. Whether sparring in print with Citicorp’s mercurial Walter Wriston, consulting with British Prime Minister Margaret Thatcher, spurning a deal with junk bond king Michael Milken, or reflecting on his long-time friend Paul Volcker, Kaufman brings readers inside post-war Wall Street. Looking ahead, he dissects major national and global trends and the likely future of credit markets, financial institutions, and leading economies. As we search for bearings in the wake of the 2008 financial debacle, Henry Kaufman offers sage and penetrating analysis of today’s superheated and – he argues – still‐fragile financial world.


Value Investing Today

Value Investing Today

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  • Author: Charles Brandes
  • Publisher: McGraw Hill Professional
  • ISBN: 0071436286
  • Category : Business & Economics
  • Languages : en
  • Pages : 239

Updated data and insights to help value investors address the realities of today's markets On the heels of recent stock market tumbles and deceptions, value investing--the staple of investing greats from Benjamin Graham to Warren Buffett--has roared back into the spotlight. Value Investing Today returns with a new edition, filled with updated information and advice to give investors the skills and knowledge to become successful value investors. Broader in scope than previous editions, this third edition offers fresh lessons investors can use to uncover stocks that are, for whatever reason, underpriced in relation to their value. Updates to this edition include: New chapters on the psychology of investing and corporate governance Expanded discussions on the importance of margin of safety Increased correlations among world markets, and how to capitalize on them


Justice

Justice

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  • Author: Michael J. Sandel
  • Publisher: Farrar, Straus and Giroux
  • ISBN: 1429952687
  • Category : Philosophy
  • Languages : en
  • Pages : 318

A renowned Harvard professor's brilliant, sweeping, inspiring account of the role of justice in our society--and of the moral dilemmas we face as citizens What are our obligations to others as people in a free society? Should government tax the rich to help the poor? Is the free market fair? Is it sometimes wrong to tell the truth? Is killing sometimes morally required? Is it possible, or desirable, to legislate morality? Do individual rights and the common good conflict? Michael J. Sandel's "Justice" course is one of the most popular and influential at Harvard. Up to a thousand students pack the campus theater to hear Sandel relate the big questions of political philosophy to the most vexing issues of the day, and this fall, public television will air a series based on the course. Justice offers readers the same exhilarating journey that captivates Harvard students. This book is a searching, lyrical exploration of the meaning of justice, one that invites readers of all political persuasions to consider familiar controversies in fresh and illuminating ways. Affirmative action, same-sex marriage, physician-assisted suicide, abortion, national service, patriotism and dissent, the moral limits of markets—Sandel dramatizes the challenge of thinking through these con?icts, and shows how a surer grasp of philosophy can help us make sense of politics, morality, and our own convictions as well. Justice is lively, thought-provoking, and wise—an essential new addition to the small shelf of books that speak convincingly to the hard questions of our civic life.


The Great Race

The Great Race

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  • Author: Levi Tillemann
  • Publisher: Simon and Schuster
  • ISBN: 1476773505
  • Category : Business & Economics
  • Languages : en
  • Pages : 352

The Great Race recounts the exciting story of a century-long battle among automakers for market share, profit, and technological dominance—and the thrilling race to build the car of the future. The world’s great manufacturing juggernaut—the $3 trillion automotive industry—is in the throes of a revolution. Its future will include cars Henry Ford and Karl Benz could scarcely imagine. They will drive themselves, won’t consume oil, and will come in radical shapes and sizes. But the path to that future is fraught. The top contenders are two traditional manufacturing giants, the US and Japan, and a newcomer, China. Team America has a powerful and little-known weapon in its arsenal: a small group of technology buffs and regulators from California. The story of why and how these men and women could shape the future—how you move, how you work, how you live on Earth—is an unexpected tale filled with unforgettable characters: a scorned chemistry professor, a South African visionary who went for broke, an ambitious Chinese ex-pat, a quixotic Japanese nuclear engineer, and a string of billion-dollar wagers by governments and corporations. “To explain the scramble for the next-generation auto—and the roles played in that race by governments, auto makers, venture capitalists, environmentalists, and private inventors—comes Levi Tillemann’s The Great Race…Mr. Tillemann seems ideally cast to guide us through the big ideas percolating in the world’s far-flung workshops and labs” (The Wall Street Journal). His account is incisive and riveting, explaining how America bounced back in this global contest and what it will take to command the industrial future.


Tractor Wars

Tractor Wars

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  • Author: Neil Dahlstrom
  • Publisher: BenBella Books
  • ISBN: 1637740085
  • Category : Business & Economics
  • Languages : en
  • Pages : 248

"Mr. Dahlstrom...has written a superb history of the tractor and this long-forgotten period of capitalism in U.S. agriculture. We now know the whole story of when farming, business and the free-market economy diverged, divided and conquered." —Wall Street Journal Discover the untold story of the “tractor wars,” the twenty-year period that introduced power farming—the most fundamental change in world agriculture in hundreds of years. Before John Deere, Ford, and International Harvester became icons of American business, they were competitors in a forgotten battle for the farm. From 1908-1928, against the backdrop of a world war and economic depression, these brands were engaged in a race to introduce the tractor and revolutionize farming. By the turn of the twentieth century, four million people had left rural America and moved to cities, leaving the nation’s farms shorthanded for the work of plowing, planting, cultivating, harvesting, and threshing. That’s why the introduction of the tractor is an innovation story as essential as man’s landing on the moon or the advent of the internet—after all, with the tractor, a shrinking farm population could still feed a growing world. But getting the tractor from the boardroom to the drafting table, then from factory and the farm, was a technological and competitive battle that until now, has never been fully told. A researcher, historian, and writer, Neil Dahlstrom has spent decades in the corporate archives at John Deere. In Tractor Wars, Dahlstrom offers an insider’s view of a story that entwines a myriad of brands and characters, stakes and plots: the Reverend Daniel Hartsough, a pastor turned tractor designer; Alexander Legge, the eventual president of International Harvester, a former cowboy who took on Henry Ford; William Butterworth and the oft-at-odds leadership team at John Deere that partnered with the enigmatic Ford but planned for his ultimate failure. With all the bitterness and drama of the race between Ford, Dodge, and General Motors, Tractor Wars is the untold story of industry stalwarts and disruptors, inventors, and administrators racing to invent modern agriculture—a power farming revolution that would usher in a whole new world.


Tightrope

Tightrope

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  • Author: Nicholas D. Kristof
  • Publisher: Vintage
  • ISBN: 0525564179
  • Category : Social Science
  • Languages : en
  • Pages : 322

NATIONAL BESTSELLER • With stark poignancy and political dispassion Tightrope addresses the crisis in working-class America while focusing on solutions to mend a half century of governmental failure. This must-read book from the authors of Half the Sky “shows how we can and must do better” (Katie Couric). "A deft and uniquely credible exploration of rural America, and of other left-behind pockets of our country. One of the most important books I've read on the state of our disunion."—Tara Westover, author of Educated Drawing us deep into an “other America,” the authors tell this story, in part, through the lives of some of the people with whom Kristof grew up, in rural Yamhill, Oregon. It’s an area that prospered for much of the twentieth century but has been devastated in the last few decades as blue-collar jobs disappeared. About a quarter of the children on Kristof’s old school bus died in adulthood from drugs, alcohol, suicide, or reckless accidents. While these particular stories unfolded in one corner of the country, they are representative of many places the authors write about, ranging from the Dakotas and Oklahoma to New York and Virginia. With their superb, nuanced reportage, Kristof and WuDunn have given us a book that is both riveting and impossible to ignore.


The Day Freedom Died

The Day Freedom Died

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  • Author: Charles Lane
  • Publisher: Macmillan + ORM
  • ISBN: 1429936789
  • Category : History
  • Languages : en
  • Pages : 345

The untold story of the massacre of a Southern town’s freedmen and a white lawyer’s battle to bring the killers to justice: “Riveting.” —The New York Times Book Review Following the Civil War, Colfax, Louisiana, was a town, like many, where African Americans and whites mingled uneasily. But on April 13, 1873, a small army of white ex–Confederate soldiers, enraged after attempts by freedmen to assert their new rights, killed more than sixty African Americans who had occupied a courthouse. With skill and tenacity, the Washington Post’s Charles Lane transforms this nearly forgotten incident into a riveting historical saga. Seeking justice for the slain, one brave US attorney, James Beckwith, risked his life and career to investigate and punish the perpetrators—but they all went free. What followed was a series of courtroom dramas that culminated at the Supreme Court, where the justices’ verdict compromised the victories of the Civil War and left Southern blacks at the mercy of violent whites for generations. The Day Freedom Died is an electrifying piece of historical detective work that captures a gallery of characters from presidents to townspeople, and re-creates the bloody days of Reconstruction, when the often-brutal struggle for equality moved from the battlefield into communities across the nation. “Thoroughly readable, carefully documented.” —Publishers Weekly (starred review) “Fascinating.” —New Orleans Times-Picayune “An electrifying piece of historical reporting.” —Tucson Citizen


Keeping At It

Keeping At It

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  • Author: Paul A Volcker
  • Publisher: PublicAffairs
  • ISBN: 154178829X
  • Category : Biography & Autobiography
  • Languages : en
  • Pages : 332

The extraordinary life story of the former chairman of the Federal Reserve, whose absolute integrity provides the inspiration we need as our constitutional system and political tradition are being tested to the breaking point. As chairman of the Federal Reserve (1979-1987), Paul Volcker slayed the inflation dragon that was consuming the American economy and restored the world's faith in central bankers. That extraordinary feat was just one pivotal episode in a decades-long career serving six presidents. Told with wit, humor, and down-to-earth erudition, the narrative of Volcker's career illuminates the changes that have taken place in American life, government, and the economy since World War II. He vibrantly illustrates the crises he managed alongside the world's leading politicians, central bankers, and financiers. Yet he first found his model for competent and ethical governance in his father, the town manager of Teaneck, NJ, who instilled Volcker's dedication to absolute integrity and his "three verities" of stable prices, sound finance, and good government.