Trial #2 of your Newsletter. Very good again Stephanie. My sense is financial risk is captured very well in the writing of Michael Lewis and his accessibility is second to none.
Thanks, Mark! Glad Trial #2 went well :-) Michael Lewis' background is interesting: majored in art history and then went to work on Wall Street. Liar's Poker was great. Any recommendations for which of his other books to pick up next?
I had a career installing control systems in nuclear power stations. He wrote the most insightful book recently "The Fifth Risk" that characterizes the functions of government that are non-negotiable and the dangers that are inherent when someone at the helm does not care to dig in.
As a risk person, you will likely love Boomerang. It presents the housing crisis through the eyes of five different cultures and their biases that inherently led to unique collapse structures in Greece, Ireland, Iceland, Germany & US
Cool, I just ordered these. Thank you for the recommendations! I'm intrigued by your description of Boomerang; when I visited Iceland in 2015, I went on a walking tour in Reykjavik called "Walk the Crash" (of course I did lol) with a fantastic host. We ended in a courtyard near the Parliament building while snow fell. Their recovery was hard-won and well-done, as far as I understand it.
Lewis, without spoiling the story focuses on a strong cultural trait of the places he studies and then projects how such people would be prone to behave. It was fascinating and entertaining. His premise for the Icelanders is magnificent.
Ray Dalio, in his book “Principles for Dealing with the Changing World Order” talks about trying to get past our bias associated with assuming things will always happen the way we’ve experienced them in our lifetimes, instead of learning from the past beyond our own lifetime, and even beyond the lifetime of our current civilization. Just because something hasn’t happened in my lifetime, doesn’t mean it hasn’t happened many times in past history. It’s an interesting take on the recency bias.
I love this viewpoint and agree so much. We assume stability in our world based on a tiny slice of history. What is "normal"? I sometimes wonder what past civilizations we don't have records or awareness of... maybe they built with wood instead of stone, for example, so all traces are gone. I'm going to read this book, thank you!
Trial #2 of your Newsletter. Very good again Stephanie. My sense is financial risk is captured very well in the writing of Michael Lewis and his accessibility is second to none.
Thanks, Mark! Glad Trial #2 went well :-) Michael Lewis' background is interesting: majored in art history and then went to work on Wall Street. Liar's Poker was great. Any recommendations for which of his other books to pick up next?
I had a career installing control systems in nuclear power stations. He wrote the most insightful book recently "The Fifth Risk" that characterizes the functions of government that are non-negotiable and the dangers that are inherent when someone at the helm does not care to dig in.
As a risk person, you will likely love Boomerang. It presents the housing crisis through the eyes of five different cultures and their biases that inherently led to unique collapse structures in Greece, Ireland, Iceland, Germany & US
Cool, I just ordered these. Thank you for the recommendations! I'm intrigued by your description of Boomerang; when I visited Iceland in 2015, I went on a walking tour in Reykjavik called "Walk the Crash" (of course I did lol) with a fantastic host. We ended in a courtyard near the Parliament building while snow fell. Their recovery was hard-won and well-done, as far as I understand it.
Lewis, without spoiling the story focuses on a strong cultural trait of the places he studies and then projects how such people would be prone to behave. It was fascinating and entertaining. His premise for the Icelanders is magnificent.
Ray Dalio, in his book “Principles for Dealing with the Changing World Order” talks about trying to get past our bias associated with assuming things will always happen the way we’ve experienced them in our lifetimes, instead of learning from the past beyond our own lifetime, and even beyond the lifetime of our current civilization. Just because something hasn’t happened in my lifetime, doesn’t mean it hasn’t happened many times in past history. It’s an interesting take on the recency bias.
I love this viewpoint and agree so much. We assume stability in our world based on a tiny slice of history. What is "normal"? I sometimes wonder what past civilizations we don't have records or awareness of... maybe they built with wood instead of stone, for example, so all traces are gone. I'm going to read this book, thank you!
Thanks for the reminders about the biases, Stephanie, and for the hat tip. :)
You're welcome! That scanners piece just felt like coming home.