What I Learned Losing A Million Dollars

Author: Jim Paul
Publisher: Columbia University Press
ISBN: 0231164688
Size: 24.41 MB
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Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it all--his fortune, his reputation, and his job--in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors. This book--winner of a 2014 Axiom Business Book award gold medal--begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. It then describes the circumstances leading up to Paul's $1.6 million loss and the essential lessons he learned from it--primarily that, although there are as many ways to make money in the markets as there are people participating in them, all losses come from the same few sources. Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. While all analytical methods have some validity and make allowances for instances in which they do not work, psychological factors can keep an investor in a losing position, causing him to abandon one method for another in order to rationalize the decisions already made. Paul and Moynihan's cautionary tale includes strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing, trading, and speculating.

The Apprenticeship Of Duddy Kravitz

Author: Mordecai Richler
Publisher: Emblem Editions
ISBN: 1551995646
Size: 58.73 MB
Format: PDF, Kindle
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The Apprenticeship of Duddy Kravitz is the novel that established Mordecai Richler as one of the world’s best comic writers. Growing up in the heart of Montreal’s Jewish ghetto, Duddy Kravitz is obsessed with his grandfather’s saying, “A man without land is nothing.” In his relentless pursuit of property and his drive to become a somebody, he will wheel and deal, he will swindle and forge, he will even try making movies. And in spite of the setbacks he suffers, the sacrifices he must make along the way, Duddy never loses faith that his dream is worth the price he must pay. This blistering satire traces the eventful coming-of-age of a cynical dreamer. Amoral, inventive, ruthless, and scheming, Duddy Kravitz is one of the most magnetic anti-heroes in literature, a man who learns the hard way that dreams are never exactly what they seem, even when they do come true. From the Trade Paperback edition.

The Business Of Options

Author: Martin P. O'Connell
Publisher: John Wiley & Sons
ISBN: 0471151254
Size: 50.62 MB
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The Business of Options shows how to conduct a professional options business. While it addresses the principles and practices of option trading and hedging in great detail, the book is the first to do so from a management perspective. O'Connell's extensive experience in option trading, training, and consulting enables the book to offer a unique combination of sophistication, clarity and insight. Most option books that are written for professionals focus on advanced math or on specific trades. This book goes farther, incorporating broad strategic considerations and exploring the implications of likely human behavior. It often challenges conventional wisdom of "what works" in the options business. Its intuitive approach to complex issues involving options enables readers to stretch their mathematical capabilities. Its down-to-earth explanations about the business of options reflect both the optimism and skepticism of a seasoned practitioner in the option market who has, for over 20 years, advised and trained professional dealers and users of options around the world.

Class Clowns

Author: Jonathan A Knee
Publisher: Columbia University Press
ISBN: 0231543336
Size: 48.45 MB
Format: PDF
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The past thirty years have seen dozens of otherwise successful investors try to improve education through the application of market principles. They have funneled billions of dollars into alternative schools, online education, and textbook publishing. They have, with surprising regularity, lost their shirts. In Class Clowns, professor and investment banker Jonathan A. Knee dissects what drives investors’ efforts to improve education and why they consistently fail. Knee takes readers inside four spectacular financial failures in education: Rupert Murdoch’s billion-dollar effort to reshape elementary education through technology; the unhappy investors—including hedge fund titan John Paulson—who lost billions in textbook publisher Houghton Mifflin; the abandonment of Knowledge Universe, Michael Milken’s twenty-year mission to revolutionize the global education industry; and the story of Chris Whittle, founder of EdisonLearning and a pioneer of large-scale transformational educational ventures, who continues to attract investment despite decades of financial and operational disappointment. Although deep belief in the curative powers of the market drove these initiatives, it was the investors’ failure to appreciate market structure that doomed them. Knee asks: What makes a good education business? By contrasting rare successes, Knee finds a dozen broad lessons at the heart of these cautionary case studies. Class Clowns offers an important guide for public policy makers and guard rails for future investors, as well as an intelligent exposé for activists and teachers frustrated with the repeated disappointments to shake up education.

Rescuing Retirement

Author: Teresa Ghilarducci
Publisher: Columbia University Press
ISBN: 0231546270
Size: 17.53 MB
Format: PDF, Kindle
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Everyone deserves to be able to retire with dignity, but this core feature of the social contract is in jeopardy. Companies have swerved away from pensions, and most of the workforce has woefully inadequate retirement savings. If we don’t act to fix this broken system, rates of impoverishment for senior citizens threaten to skyrocket, and tens of millions of Americans reaching retirement age in the coming decades will be forced to delay retirement and will experience a dramatic drop in their standard of living. In Rescuing Retirement, Teresa Ghilarducci and Tony James offer a comprehensive yet simple plan to help workers save for retirement, increase retirement savings by earning higher returns, and guarantee lifelong income for everyone. Built on people’s own money in individual Guaranteed Retirement Accounts, the plan requires no new taxes, no more bureaucracy, and no increase in the deficit. Speaking to Americans’ growing anxiety about their ability to retire, Rescuing Retirement provides answers to anyone wanting to understand the growing movement to protect a period of life once considered a deserved time of rest and creativity and offers a practical guide to the future of secure retirement.

Measure Of My Days

Author: Florida Scott-Maxwell
Publisher: Knopf
ISBN: 0307828344
Size: 42.68 MB
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At eighty-two, Florida Scott-Maxwell felt impelled to write about her strong reactions to being old, and to the time in which we live. Until almost the end this document was not intended for anyone to see, but the author finally decided that she wanted her thoughts and feelings to reach others. Mrs. Scott-Maxwell writes: “I was astonished to find how intensely one lives in one’s eighties. The last years seemed a culmination and by concentrating on them one became more truly oneself. Though old, I felt full of potential life. It pulsed in me even as I was conscious of shrinking into a final form which it was my task and stimulus to complete.” The territory of the old is not Scott-Maxwell’s only concern. In taking the measure of the sum of her days as a woman of the twentieth century, she confronts some of the most disturbing conflicts of human nature—the need for differentiation as against equality, the recognition of the evil forces in our nature—and her insights are challenging and illuminating. The vision that emerges from her accumulated experience of life makes this a remarkable document that speaks to all ages.

Twelve Against The Gods

Author: William Bolitho
Publisher: Diversion Books
ISBN: 1635765048
Size: 28.92 MB
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"It's really quite good." - Elon Musk Twelve Against the Gods was an instant bestseller when it first published in 1929. In his trademark journalist style, author William Bolitho details the lives of twelve great adventurers—Alexander the Great, Casanova, Christopher Columbus, Mahomet, Lola Montez, Cagliostro (and Seraphina), Charles XII of Sweden, Napoleon I, Lucius Sergius Catiline, Napoleon III, Isadora Duncan, and Woodrow Wilson. Bolitho shines light on both the struggles and successes that made these figures so iconic, and demonstrates how they all battled convention and conformity to achieve enduring fame and notoriety. “We are born adventurers,” Bolitho writes, “and the love of adventures never leaves us till we are very old; old, timid men, in whose interest it is that adventure should quite die out. This is why all the poets are on one side, and all the laws on the other; for laws are made by, and usually for, old men." Though his essays are nearly one hundred years old, they encompass the timeless values of perseverance, bravery, and strength of spirit that have proven to resonate with the pioneers and thought leaders of today.

The Million Dollar One Person Business

Author: Elaine Pofeldt
Publisher: Lorena Jones Books
ISBN: 0399578978
Size: 26.37 MB
Format: PDF, ePub, Mobi
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The indispensable guide to earning a six-figure take-home income on your own terms, from Forbes.com contributing writer Elaine Pofeldt. The rise of one-million-dollar, one-person businesses in the past five years is the biggest trend in employment today, offering the widest range of people the most ways to earn a living while having the lifestyles they want. In The Million-Dollar, One-Person Business, Elaine Pofeldt outlines the pathways to joining this entrepreneurial movement, synthesizing advice from hundreds of business owners who've done it. She explains how to identify, launch, grow, and reinvent the business, showing how a single individual can generate $1 million in revenue--something only larger small companies have done in the past. Both inspirational and practical, this book will appeal to all who seek a great worklife and a great lifestyle.