ארכיון ספרים

Book Review: Berkshire Beyond Buffett | The Aleph Blog
הדיון על העידן שאחרי באפט עדיין קרוב לסיומו, ועכשיו יש אפילו ספר שלם שמוקדש לנושא. הנה ביקורת אחת.
Buffett’s not perfect — he has had his share of errors with textiles, shoe companies, airlines, Energy Future, and a variety of other investments, but his record will be tough to match, even if replaced by a team of clever people. Say what you will, but teams are not as decisive as a single manager, and that may be a future liability of BRK.
[חברות ותעשיות, ספרים]
ביקורת חיובית לספר Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk.
This is a dynamic approach to asset allocation, using only stocks and bonds for reasons that the author explains. The model (Global Equity Momentum--GEM) switches between the S&P 500 and the ACWI ex-U.S. based on relative strength momentum and uses aggregate bonds as a safe haven during bear markets based on absolute momentum signals taken from the S&P 500.
[ספרים]
אני מתחיל עכשיו לקרוא את Animal Madness: How Anxious Dogs, Compulsive Parrots, and Elephants in Recovery Help Us Understand Ourselves. הנה סקירה של הספר.
Acknowledging parallels between human and other animal mental health is a bit like recognizing capacities for language, tool use, and culture in other creatures. That is, it’s a blow to the idea that humans are the only animals to feel or express emotion in complex and surprising ways. It is also anthropomorphic, the projection of human emotions, characteristics, and desires onto nonhuman beings or things. We can choose, though, to anthropomorphize well and, by doing so, make more accurate interpretations of animals’ behavior and emotional lives. Instead of self-centered projection, anthropomorphism can be a recognition of bits and pieces of our human selves in other animals and vice versa.
[התנהגות פיננסית, ספרים]
ניר איל (ישראלי?) כותב על מוצרים וגאג'טים ממכרים, החל ממשחקים ועד רשתות חברתיות. חלק מספרו החדש Hooked שאני קורא בימים אלה.[הסחת דעת, ספרים]
Elizabeth Kolbert: Why Are We So Busy? : The New Yorker
ב-1928 ג'ון קיינס תיאר כתב קצר שנקרא 'כלכלת נכדינו' שהעולם יהיה כל כך יעיל, ואיכות החיים כל כך טובה, עד כי אנשים בכלל לא יטרידו את עצמם בעבודה יותר מ-3 שעות ביום. התחזית הזו כמובן לא התממשה. בספר חדש שנקרא Overwhelmed: Work, Love and Play When No One Has The Time חוקרת ברידג'ית שולט את תופעת הזמן החסר, את הסיבות שבגללן כולנו עסוקים כל הזמן ואת הפתרונות לבעיה. הניו יורקר סוקר את הספר. [הסחת דעת, ספרים]
אוסף מחשבות ופסקאות שונות מתחומים שונים, שמערערים ומאתגרים את החשיבה המקובלת. הנה אחת לדוגמא:
Two Australian surgeons found that half of the facts in that field also become false every forty-five years. As the French scientists noted, all of these results verify the first half of a well-known medical aphorism by John Hughlings Jackson, a British neurologist in the nineteenth and early twentieth centuries: "It takes 50 years to get a wrong idea out of medicine, and 100 years a right one into medicine." ... Max Plank codified this in a maxim: "New scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it."
[הסחת דעת, התנהגות פיננסית, ספרים]
ביקורת נוספת על הספר דויד וגוליית של גאלדוול, הפעם ב-WSJ.
One of Mr. Gladwell's best sellers, "Outliers" (2008), was about how outsize success results from arbitrary advantages and disciplined practice. Bill Gates was lucky enough to have a computer terminal in his high school when personal computers didn't yet exist; the Beatles laboriously honed their craft in Germany before hitting the London scene. So is the story of David Boies just another case like these—of a guy who stumbled into a rigorous debate program that inculcated the skills and provided the training he would need to out-argue his law-school peers and reach the top?
Not in this book. The overarching thesis of "David and Goliath" is that for the strong, "the same qualities that appear to give them strength are often the sources of great weakness," whereas for the weak, "the act of facing overwhelming odds produces greatness and beauty." According to Mr. Gladwell, the secret of Mr. Boies's greatness is neither luck nor training. Rather, he got where he did because he was dyslexic.
וגם, גאלדוול מדבר על הספר. קודם.[ספרים]
ספר חדש לגלאדוול, על אנדרדוגים, בלתי שייכים ואומנות הקרב בענקים. הוא מקבל C ב-avclub.[ספרים]
הספר החדש, Deep Risk: How History Informs Portfolio Design. , הוא השלישי בסדרת Investing For Adults שכוללת את The Ages of the Investor ו-Skating Where the Puck Was. שני הספרים המוקדמים שלו, The Intelligent Asset Allocator ו-The Four Pillars of Investing נמצאים ברשימת הספרים המומלצים שלי, וראויים לכל משקיע הבונה לעצמו תיק השקעות.[ספרים]
ביקורת על הספר: Big Data: A Revolution That Will Transform How We Live, Work, and Think[big-data, ספרים]

Sheena Iyengar: The art of choosing - YouTube.

Sheena Iyengar studies how we make choices -- and how we feel about the choices we make. At TEDGlobal, she talks about both trivial choices (Coke v. Pepsi) and profound ones, and shares her groundbreaking research that has uncovered some surprising attitudes about our decisions.
למי שהנושא מעניין אותו, אני יכול להמליץ גם על הספר: The Paradox of Choice [הסחת דעת, ספרים]
אם פקקי תנועה והדרך בה הם נוצרים ומשתחררים מעניינים אתכם לפחות כמו שהנושא מעניין אותי, תהנו מהקריאה הבאה על הפיזיקה שמאחורי הפקק. ואם אנחנו כבר בנושא, אז אני יכול להמליץ גם על הספר: Traffic: Why We Drive the Way We Do (and What It Says About Us).
There is a second important thing to notice. While some cars are still jammed, more cars are piling up behind them at the trailing end of the jam. Even after the wreck is removed, more cars are still "condensing" onto the back of the jam. The traffic jam is like a solid object whose front end is evaporating and whose back end is growing like a crystal. Cars move left to right, yet watch the group of stopped cars. The stoppage is creeping slowly upstream, in the opposite direction to the moving cars. The accident is gone, but a moving wave of stopped cars remains behind. It's not a traffic jam, it's a shock wave which propagates through the "automotive material". It's a traffic-clot in the blood vessel. It's a traveling wave of traffic-condensation.
[הסחת דעת, ספרים]
Book Review: Investors Give Graham And Dodd A Much-Needed Update | Editors Pick | Minyanville's Wall Street
סקירה וביקורת של הספר החדש מאת מארטין וויטמאן ופרננדו דיז: Modern Security Analysis: Understanding Wall Street Fundamentals.
The authors offer differing views from Graham and Dodd’s original analysis, but they were quick to point out to me that Graham and Dodd's ideas were originally conceived as far back as 80 years ago, and that the market has made quantum leaps since then in areas like disclosure and the speed of information flow. At the very least, I believe the book will encourage readers to look at the market and companies in a different light as we all have become conditioned to pay attention to each tick rather than the longer term picture.
[ספרים]
ספר חדש על המדף הדיגיטלי שלי: Quantitative Value. ראיון עם הסופר.[ספרים]
רשימת ספרים שיכולים לשמש כמתנות לחג הקרוב.

לאמהות

Love Is Not Enough: A Smart Woman’s Guide to Money

לאבות

The Long and the Short of it: A Guide for Normally Intelligent People

למשקיעים פאסיבים

Smarter Investing: Simpler Decisions for Better Results

למשקיעי ערך

The Most Important Thing: Uncommon Sense for the Thoughtful Investor

לסוחרים

The Naked Trader: How Anyone Can Make Money Trading Shares

לחובבי באפט

The Snowball: Warren Buffett and the Business of Life

ליזמים

How to Get Rich  

ולציניקנים בחבריכם

The Big Short: Inside the Doomsday Machine[ספרים]
אחד מספרי הכלכלה-פופולארית [על משקל מדע-פופולארי] האהובים עלי הוא The Undercover Economist, שעכשיו יוצא במהדורה חדשה. ישנו פרק שהינו התוספת העיקרית על פני המהדורה הקודמת, והוא מוצע חינם על ידי הסופר.[ספרים]
The Weatherman Is Not a Moron
קטע מתוך ספר חדש שנראה לי סופר מעניין: The Signal and the Noise: Why So Many Predictions Fail-but Some Don't. הנה קטע מתוך הקטע, שבין השאר גורם לי לתהות. האם חיזוי הוא הדרך האמיתית ביותר לבחון את המידע ואת יכולת העיבוד שלנו?
These meteorologists are dealing with a small fraction of the 2.5 quintillion bytes of information that, I.B.M. estimates, we generate each day. That’s the equivalent of the entire printed collection of the Library of Congress about three times per second... But if prediction is the truest way to put our information to the test, we have not scored well. In November 2007, economists in the Survey of Professional Forecasters — examining some 45,000 economic-data series — foresaw less than a 1-in-500 chance of an economic meltdown as severe as the one that would begin one month later. Attempts to predict earthquakes have continued to envisage disasters that never happened and failed to prepare us for those, like the 2011 disaster in Japan, that did.
[big-data, התנהגות פיננסית, ספרים]
אבי קרנות האינדקס ומייסד וואנגארד עם ספר חדש: The Clash of the Cultures: Investment vs. Speculation. פרק 8. [ספרים]
ראיון עם פרופ' פראנק פטורני, מחבר הספר: Wait: The Art and Science of Delay. ואם יש ספר שראוי לקנות אותו רק בגלל העטיפה, הרי זה הספר הזה. יש לו גם מה להגיד על להמן [ועל בלינק].
I interviewed a number of former senior executives at Lehman Brothers and discovered a remarkable story. Lehman Brothers had arranged for a decision-making class in the fall of 2005 for its senior executives. It brought four dozen executives to the Palace Hotel on Madison Avenue and brought in leading decision researchers, including Max Bazerman from Harvard and Mahzarin Banaji, a well-known psychologist. For the capstone lecture, they brought in Malcolm Gladwell, who had just published Blink, a book that speaks to the benefits of making instantaneous decisions and that Gladwell sums up as “a book about those first two seconds.” Lehman’s president Joe Gregory embraced this notion of going with your gut and deciding quickly, and he passed copies of Blink out on the trading floor.

The executives took this class and then hurriedly marched back to their headquarters and proceeded to make the worst snap decisions in the history of financial markets. I wanted to explore what was wrong with that lesson and to create something that would be the course that Wall Street should have taken and hopefully will take.
[ספרים]
דיוויד מארקל מראיין את הווארד מארקס על ספרו The Most Important Thing. [ספרים, שיחות, מכתבים]

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