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Book Bits: 12 June 2021

Summary:
● The Banks Did It: An Anatomy of the Financial CrisisNeil FligsteinSummary via publisher (Harvard U. Press)ore than a decade after the 2008 financial crisis plunged the world economy into recession, we still lack an adequate explanation for why it happened. Existing accounts identify a number of culprits—financial instruments, traders, regulators, capital flows—yet fail to grasp how the various puzzle pieces came together. The key, Neil Fligstein argues, is the convergence of major U.S. banks on an identical business model: extracting money from the securitization of mortgages. But how, and why, did this convergence come about? ● Anthro-Vision:A New Way to See in Business and LifeGillian TettReview via The Wall Street JournalMs. Tett, who heads the FT’s American editorial board, is

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The Banks Did It: An Anatomy of the Financial Crisis
Neil Fligstein
Summary via publisher (Harvard U. Press)
ore than a decade after the 2008 financial crisis plunged the world economy into recession, we still lack an adequate explanation for why it happened. Existing accounts identify a number of culprits—financial instruments, traders, regulators, capital flows—yet fail to grasp how the various puzzle pieces came together. The key, Neil Fligstein argues, is the convergence of major U.S. banks on an identical business model: extracting money from the securitization of mortgages. But how, and why, did this convergence come about?

Anthro-Vision:
A New Way to See in Business and Life
Gillian Tett
Review via The Wall Street Journal
Ms. Tett, who heads the FT’s American editorial board, is the author of “Anthro-Vision,” a book about how anthropology—a subject in which she has a Ph.D. from Cambridge University—can explain the folkways (and speech habits) of non-elite people to professionals trapped in the insularity of their own guilds. The latter’s specialist tools are notably inadequate, she says, when “used without an awareness of culture and context”—without an awareness, that is, of the Big Picture.

The 5 Mistakes Every Investor Makes and How to Avoid Them: Getting Investing Right (2nd ed.)
Peter Mallouk
Summary via publisher (Wiley)
A reliable resource for investors who want to make more informed choices, this book steers readers away from past investment errors and guides them in the right direction. The Five Mistakes Every Investor Makes and How to Avoid Them, Second Edition, focuses on what investors do wrong, so you can avoid these common errors and set yourself on the right path to success. In this comprehensive reference, you’ll learn to navigate the ever-changing variables and market dilemmas that can make investing a risky and daunting endeavor. In this Second Edition, Peter Mallouk shares new investment techniques, an expanded discussion of the importance of disciplined investment management, and updated advice on avoiding common pitfalls.

The Successful Trader’s Guide to Money Management: Proven Strategies, Applications, and Management Techniques
Andrea Unger
Summary via Amazon.com
Money management is a central element of trading the financial markets, especially in uncertain times. Yet investors often misinterpret the central concepts of money management. To manage risk and obtain optimal rewards from your trades, you will benefit from a deeper understanding of how the professionals manage money. The Successful Trader’s Guide to Money Management describes the operating methods that seasoned investors use. With this book, you’ll avoid the common mistake of focusing too much on entry levels and stop-losses, and you’ll learn to consider the impact of proper money management on your final portfolio results.

Please note that the links to books above are affiliate links with Amazon.com and James Picerno (a.k.a. The Capital Spectator) earns money if you buy one of the titles listed. Also note that you will not pay extra for a book even though it generates revenue for The Capital Spectator. By purchasing books through this site, you provide support for The Capital Spectator’s free content. Thank you!

James Picerno
James Picerno is a financial journalist who has been writing about finance and investment theory for more than twenty years. He writes for trade magazines read by financial professionals and financial advisers. Over the years, he’s written for the Wall Street Journal, Barron’s, Bloomberg Markets, Mutual Funds, Modern Maturity, Investment Advisor, Reuters, and his popular finance blog, The CapitalSpectator.

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