Look to this book for guiding principles rather than specific tips.
Forget about getting rich quick: The new investment climate, writes Mad Money host Cramer (Jim Cramer's Real Money: Sane Investing in an Insane World, 2005, etc.), is “treacherous....[B]izarre stock movements have become the staple, if not the hallmark, of this era.”
It’s an age of “random gyrations” and irrationality, and the 2010 “flash crash” may have been a technical hiccup, but it’s spooked investors ever since—and Cramer, formerly known for his exuberant approach (and often lampooned for it), has since taken a visibly more deliberate approach to the matter. This new book reflects his caution. For one thing, he observes early on, the stock market is now “hostage” to sector exchange-traded funds whose movements make the fundamentals meaningless; the big-basket approach is the tail that wags the dog. Of course, ETFs are easier to own than individually selected stocks, and, as Cramer observes, if you want to understand the cyclical nature of the market, you “have to be on top of world events, particularly in China, pretty much every day,” which, in theory, is just what fund managers do. Still, the author stresses fundamental wisdom pitched at different categories of investors: For a conservative investor, for instance, he recommends “pipeline master limited partnerships” as a point of entry into the energy market, while he notes the tea-cup shifts in commodity producers like Domino’s Pizza that, properly timed, can yield wealth. But who can time the market? Not the Federal Reserve, for sure, for its minutes are a month old and are worth “nothing at all.” Cramer’s long list of dos and don’ts (Relative valuations don’t justify a purchase”; “Stop falling in love with your stocks”) is worth the price of the book.
Look to this book for guiding principles rather than specific tips.Pub Date: Jan. 1, 2014
ISBN: 978-0-399-16818-5
Page Count: 448
Publisher: Blue Rider Press
Review Posted Online: Dec. 3, 2013
Kirkus Reviews Issue: Dec. 15, 2013
A readable, persuasive argument that our ways of doing business will have to change if we are to prosper—or even survive.
A well-constructed critique of an economic system that, by the author’s account, is a driver of the world’s destruction.
Harvard Business School professor Henderson vigorously questions the bromide that “management’s only duty is to maximize shareholder value,” a notion advanced by Milton Friedman and accepted uncritically in business schools ever since. By that logic, writes the author, there is no reason why corporations should not fish out the oceans, raise drug prices, militate against public education (since it costs tax money), and otherwise behave ruinously and anti-socially. Many do, even though an alternative theory of business organization argues that corporations and society should enjoy a symbiotic relationship of mutual benefit, which includes corporate investment in what economists call public goods. Given that the history of humankind is “the story of our increasing ability to cooperate at larger and larger scales,” one would hope that in the face of environmental degradation and other threats, we might adopt the symbiotic model rather than the winner-take-all one. Problems abound, of course, including that of the “free rider,” the corporation that takes the benefits from collaborative agreements but does none of the work. Henderson examines case studies such as a large food company that emphasized environmentally responsible production and in turn built “purpose-led, sustainable living brands” and otherwise led the way in increasing shareholder value by reducing risk while building demand. The author argues that the “short-termism” that dominates corporate thinking needs to be adjusted to a longer view even though the larger problem might be better characterized as “failure of information.” Henderson closes with a set of prescriptions for bringing a more equitable economics to the personal level, one that, among other things, asks us to step outside routine—eat less meat, drive less—and become active in forcing corporations (and politicians) to be better citizens.
A readable, persuasive argument that our ways of doing business will have to change if we are to prosper—or even survive.Pub Date: May 1, 2020
ISBN: 978-1-5417-3015-1
Page Count: 336
Publisher: PublicAffairs
Review Posted Online: Feb. 16, 2020
Kirkus Reviews Issue: March 15, 2020
A timely, vividly realized reminder to slow down and harness the restorative wonders of serenity.
An exploration of the importance of clarity through calmness in an increasingly fast-paced world.
Austin-based speaker and strategist Holiday (Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue, 2018, etc.) believes in downshifting one’s life and activities in order to fully grasp the wonder of stillness. He bolsters this theory with a wide array of perspectives—some based on ancient wisdom (one of the author’s specialties), others more modern—all with the intent to direct readers toward the essential importance of stillness and its “attainable path to enlightenment and excellence, greatness and happiness, performance as well as presence.” Readers will be encouraged by Holiday’s insistence that his methods are within anyone’s grasp. He acknowledges that this rare and coveted calm is already inside each of us, but it’s been worn down by the hustle of busy lives and distractions. Recognizing that this goal requires immense personal discipline, the author draws on the representational histories of John F. Kennedy, Buddha, Tiger Woods, Fred Rogers, Leonardo da Vinci, and many other creative thinkers and scholarly, scientific texts. These examples demonstrate how others have evolved past the noise of modern life and into the solitude of productive thought and cleansing tranquility. Holiday splits his accessible, empowering, and sporadically meandering narrative into a three-part “timeless trinity of mind, body, soul—the head, the heart, the human body.” He juxtaposes Stoic philosopher Seneca’s internal reflection and wisdom against Donald Trump’s egocentric existence, with much of his time spent “in his bathrobe, ranting about the news.” Holiday stresses that while contemporary life is filled with a dizzying variety of “competing priorities and beliefs,” the frenzy can be quelled and serenity maintained through a deliberative calming of the mind and body. The author shows how “stillness is what aims the arrow,” fostering focus, internal harmony, and the kind of holistic self-examination necessary for optimal contentment and mind-body centeredness. Throughout the narrative, he promotes that concept mindfully and convincingly.
A timely, vividly realized reminder to slow down and harness the restorative wonders of serenity.Pub Date: Oct. 1, 2019
ISBN: 978-0-525-53858-5
Page Count: 288
Publisher: Portfolio
Review Posted Online: July 20, 2019
Kirkus Reviews Issue: Aug. 15, 2019
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