Category Archives: Economics

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Interesting reads 26 Sept 2013 – Economy, Currency, and few metrics


1. How The Economic Machine Works – http://bit.ly/1ftVSA7
An interesting video on how Economy works
2. How Currency Works – http://bit.ly/1gZdYI7
A simple but, excellent explanation of how the currency works – Starting from barter system, through paper currency, upto the current electronic payments, this article puts down in simple language. Minted currency started as back as 2500 BC as metal rings, coins were introduced as back as 700 BC and current paper currency were introduced during Tang Dynasty in China during 618-907 AD
3. Top 3 Useless Stock Metrics that Investors Use – http://bit.ly/1b5pl0e
In this article the author tries to explain how Price to Sales, Enterprise Value to Free Cash Flow and Return on Assets are not so useful metrics. But, I still think the ROA is still a very useful metric. But, isn’t any metric to be considered along with other key parameters / ratios?

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Interesting reads 18 Sept 2013 – Seth Klarman, Tom Russo


1. Learning from Superinvestors: The Wisdom of Tom Russo – http://bit.ly/18o1Ta6
Tom Russo sharing his thoughts on investing and shares his investment tenets. He certainly is an admirer of Warren Buffett. Also, in this article he gives out 4 key points that he looks for in a business. Also, a nice note on Nestle – http://bit.ly/19eSfHT
2. How the US Created a Monster in the Federal Reserve – http://bit.ly/17xYrg7
An interesting article on formation of the Federal Reserve in the US, and also few pointers on Gold standard, and some misconceptions on having or not having this standard
3. How to Research and Determine the Growth Rate of a Company – http://bit.ly/TjJ2aA
Jae Jun on factors that should influence our thoughts while determining the growth rate of a company – True that it should pass the qualitative metrics prior to even thinking about quantitative metrics. Also, the importance of FCF in determining the growth rate
4. Seth Klarman on the Painful Decision to Hold Cash – http://bit.ly/17JzoqG
Seth Klarman’s text on holding cash and the dilemma that any one would have making decisions.

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Interesting reads 14 Aug 2013 – Economics is an Art, Facts of Indian Economy, What millionaires do, 4000 years history of the world


1. 10 reasons why economics is an art, not a science – http://wapo.st/13QEdOi
Barry Ritholtz explains in an excellent fashion why economics is more of an art and not science. Explaining about how markets behave, how predictions of recessions is nearly impossible, usage of economic models, emotions driving contexts, forecasts and predictions by analysts, extrapolation of past events into the present and future etc.,

2. 10 facinating facts about Indian Economy – http://bit.ly/1bs1kR3
Nice article explaining the strengths of our economy. Fastest growing economy, Key Exporter to world markets, Textile manufacturing abilities, Largest producer of Jute, Milk and Pulses, Largest retail market, Our excellence in road and rail and postal networks. In my opinion, we could have even added a few more like lot of youth population, nerve center for software industry

3. 19 Things The Millionaire Next Door Won’t Tell You – http://read.bi/1440Jj2
Len explains several practically seem and possible things that anyone of us can do to become a millionaire. Most of these are already known to us like spending below means, patience in investing, paying off credit card debt in full, pay yourself first, second job, money management, planning, goals, compunding etc., but, still a good read.

4. The Entire History of the World—Really, All of It—Distilled Into a Single Gorgeous Chart – http://slate.me/14HlYxo

 

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Finance Documentaries


I would like our readers to checkout this website if you have not already – http://www.financedocumentaries.com/.
This site contains approximately 200 documentaries on various subjects on Finance, Banking, Investing and related areas.
I have checked out a few and it looks great.
Just wanted to share with you all.

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Recommended Movies, Videos, and Documentaries


Thought I would share the list of recommended movies, videos and documentaries on Business, Economics, Finance, Investing, Stocks, and Money etc.,
I have seen some of these myself, but, most of them are still on my ‘to view’ list.
Please share your thoughts and the movies or videos or documentaries that you think I might have missed out.

  1. 25 Million Pounds – Adam Curtis
  2. 97% Owned – Directed – Peter Joseph
  3. American Casino (2009) – Leslie Cockburn, Andrew Cockburn
  4. America’s Bankrupt Banks (Inside the Meltdown) – Michael Kirk
  5. Barbarians at the Gate (1993) – Glenn A. Jordan
  6. Betting on the Market – PBS Frontline
  7. Billion Dollar Day – BBC
  8. Boiler Room (2000) – Ben Younger
  9. Breaking the Bank – PBS Frontline
  10. Career Success: Playing to Win the Donald Trump Way – Donald Trump
  11. Coca Cola- The Real Story Behind The Real Thing – Melissa Lee
  12. Collapse – Chris Smith
  13. Commanding Heights — The Battle for the World Economy – William Cran
  14. Debt Collapse – Mike Maloney
  15. Debtocracy – Katerina Kitidi and Aris Hatzistefanou
  16. Dragon’s Den – Sony Pictures
  17. Enron: The Smartest Guys in the Room – Alex Gibney
  18. Family Man – Brett Ratner
  19. Floored – James Allen Smith
  20. Free to Choose  – Rose Friedman, Milton Friedman
  21. Frontline: Secret History of the Credit Card – PBS Frontline
  22. Frontline: The Warning (2009) – PBS Frontline
  23. GasLand  – Josh Fox
  24. Gung Ho – Ron Howard
  25. How the Banks Never Lose – BBC
  26. I.O.U.S.A – Patrick Creadon
  27. In Debt We Trust – Danny Schechter
  28. Inside Job – Charles Ferguson
  29. Margin Call (2011) – J.C. Chandor
  30. Overdose: The Next Financial Crisis – Martin Borgs
  31. Pirates of Silicon Valley (1999) – Martyn Burke
  32. Pursuit of Happyness – Gabriele Muccino
  33. Quants: The Alchemists of Wall Street – Rogier Hendriks, Marije Meerman
  34. Rogue Trader (1999) – James Dearden
  35. Secrets of Money – David Himot
  36. Something Ventured – Dan Geller, Dayna Goldfine
  37. Startup.com (2001) – Chris Hegedus, Jehane Noujaim
  38. The Apprentice – Videos by Donald Trump – NBC Network
  39. The Ascent of Money – Adrian Pennick, Niall Ferguson
  40. The Bank – Robert Connolly
  41. The Company Men – John Wells
  42. The Corporation (2003) – Mark Achbar, Jennifer Abbott
  43. The Crash Course – Chris Martenson
  44. The Crash of 1929 – Ronald Blumer
  45. The End of Poverty? – Philippe Diaz
  46. The Flaw (2011) – David Sington
  47. The Last Days Of Lehman Brothers – Michael Samuels
  48. The Madoff Affair – Marcela Gaviria
  49. The Money Masters – William T. Still
  50. The Secret of Oz – Bill Still
  51. The Secret World Of Shoplifting – Andy Blicq
  52. The Social Network – David Fincher
  53. Too Big to Fail (2011) – Curtis Hanson
  54. Trading Places (1983) – John Landis
  55. Trillion Dollar Bet – Malcolm Clark
  56. Up in the Air – Jason Reitman
  57. Wall Street 1 – Oliver Stone
  58. Wall Street 2 – Oliver Stone
  59. Wall Street Warriors – Scott J. Gill, Sean Skelton
  60. Warren Buffett – Oracle of Omaha – PBS Home Video
  61. Warren Buffett Talks Business – Ian Darling
  62. Wizards of Dalal Street – CNBCTV18
  63. Working Girl (1988) – Mike Nichols

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Recommended Reading List


Thought I would share the list of recommended books, the best ones on each category.
I have read some of these myself and have experienced the rich knowledge in these, but, most of them are still on my ‘to read’ list.
Please share your thoughts and the books that you think I might have missed out.

Personal Finance

  • Winning the Wealth Game – Sanjiv Mehta
  • Rich Dad Poor Dad – Robert Kiyosaki
  • Cashflow Quadrant – Robert Kiyosaki
  • The Richest Man In Babylon – George S. Clason
  • Asset Allocation: Balancing Financial Risk – Roger C Gibson
  • The Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Risk – William J. Bernstein
  • The Millionaire Next Door: The Surprising Secrets of America’s Wealthy – Thomas J. Stanley and William D. Danko
  • I will teach you to be rich – Ramit Sethi
  • The Total Money Makeover: A Proven Plan for Financial Fitness – Dave Ramsey
  • Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth – T. Harv Eker
  • Think and Grow Rich – Napoleon Hill
  • The Forbes/CFA Institute Investment Course: Timeless Principles for Building Wealth – Vahan Janjigian, Stephen M. Horan, Charles Trzcinka

Economics

  • Basic Economics: A Common Sense Guide to the Economy – Thomas Sowell
  • Economics in One Lesson – Henry Hazlitt
  • Principles of economics – N. Gregory Mankiw
  • Principles of Macroeconomics – Joseph E. Stiglitz
  • Principles of Microeconomics – Joseph E. Stiglitz
  • The Economics of Inflation – Constantino Bresciani Turroni
  • Kautilya’s Arthashastra: The Way Of Financial Management And Economic Governance – Kautilya, R. Shamasastry (Translator)
  • The Box – How the Shipping Container Made the World Smaller and the World Economy Bigger  – Marc Levinson
  • How an Economy Grows and Why It Crashes – Peter D. Schiff and Andrew J. Schiff
  • Saving Capitalism from the Capitalists: Unleashing the Power of Financial Markets to Create Wealth and Spread Opportunity – Raghuram G. Rajan
  • Fault Lines: How Hidden Fractures Still Threaten the World Economy – Raghuram G. Rajan
  • Breakout Nations: In Search of The Next Economic Miracles – Ruchir Sharma
  • Spot the Next Economic Bubble – Saurabh Thirani
  • Freakonomics: A Rogue Economist Explores the Hidden Side of Everything – Steven D. Levitt and Stephen J. Dubner
  • The Logic of Life: The Rational Economics of an Irrational World – Tim Harford
  • The Undercover Economist – Tim Harford
  • 23 Things They Don’t Tell You about Capitalism – Ha-Joon Chang
  • 50 Economics Ideas You Really Need To Know – Edmond Conway

Finance & Valuations

  • The Interpretation of Financial Statements: The Classic 1937 Edition – Benjamin Graham
  • Investment Valuation: Tools and Techniques for Determining the Value of Any Asset – Aswath Damodaran
  • Damodaran on Valuation – Aswath Damodaran
  • The Little Book of Valuation: How to Value a Company, Pick a Stock and Profit – Aswath Damodaran
  • How To Read A Balance Sheet – Ram Kumar Kakani
  • How To Read A Cash Flow Statement – Ram Kumar Kakani
  • How To Read A Profit And Loss Statement – Ram Kumar Kakani
  • Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports – Howard Schilit and Jeremy Perler

Economic History

  • Wealth of Nations – Adam Smith
  • Das Kapital – Karl Marx
  • Lords of Finance – Liaquat Ahamed
  • The Ascent of Money – Niall Ferguson
  • The Worldly Philosophers – Robert L. Heilbroner
  • The Great Crash 1929 – John Kenneth Galbraith
  • A short history of Financial Euphoria – John Kenneth Galbraith
  • Manias, Panics, and Crashes: A History of Financial Crises – Charles P. Kindleberger, Robert Z. Aliber
  • Tulipomania: The Story of the World’s Most Coveted Flower & the Extraordinary Passions It Aroused – Mike Dash
  • The Secret History of the South Sea Bubble: The World’s First Great Financial Scandal – Malcolm Balen
  • 100 minds that made the market – Ken Fisher
  • Conspiracy of Fools: A True Story – Kurt Eichenwald

Investing

  • Intelligent Stock market Investing – Dr.Yasaswy
  • The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns – John C. Bogle
  • The Little Book that Builds Wealth – Pat Dorsey
  • Learn to Earn – Peter Lynch
  • One up on Wall street – Peter Lynch
  • Beating the Street – Peter Lynch
  • The Intelligent Investor – Benjamin Graham
  • Security Analysis – Benjamin Graham and David Dodd
  • Margin of Safety – Seth Klarman
  • Benjamin Graham on Value Investing – Janet Lowe
  • The Warren Buffett Way – Robert G Hagstrom
  • The Warren Buffett Portfolio – Robert G Hagstrom
  • Buffett – The making of an American Capitalist – Roger Lowenstein
  • How to pick stocks like Warren Buffett – Timothy Vick
  • The New Buffettology – Mary Buffett & David Clark
  • The Tao of Warren Buffett – Mary Buffett & David Clark
  • The Essays of Warren Buffett – Lawrence A. Cunningham
  • The Real Warren Buffett – James O Loughlin
  • Warren Buffett and the Interpretation of Financial Statements – Mary Buffett and David Clark
  • Of permanent value : The story of Warren Buffett – Andrew Kilpatrick
  • The Snowball: Warren Buffett and the Business of Life – Alice Schroeder
  • Common Stocks and Uncommon Profits – Phillip A Fisher
  • The Little Book that Still Beats the Market – Joel Greenblatt
  • Dhandho Investor – Mohnish Pabrai
  • Mosaic: Perspectives On Investing – Mohnish Pabrai
  • Poor Charlie’s Almanack – Charlie Munger, compiled by Peter D. Kaufman
  • Damn Right – Behind the scenes with Berkshire Hathaway Billionaire Charlie Munger – Janet Lowe
  • Investing the Templeton Way – Lauren C. Templeton, Scott Phillips
  • Common Sense on Mutual Funds – John C Bogle
  • Bogle on Mutual Funds – John C Bogle
  • Quality of Earnings – Thornton L. O’glove
  • Moats: The Competitive Advantages of Buffett and Munger Businesses – Bud Labitan
  • Valuations – 30 Intrinsic Value Estimations in the Style of Warren Buffett and Charlie Munger – Bud Labitan
  • Supermoney – George J. W. Goodman
  • F Wall Street: Joe Ponzio’s No-Nonsense Approach to Value Investing for the Rest of Us – Joel Ponzio
  • Value Investing And Behavioral Finance: Insights Into Indian Stock Market Realities – Parag Parikh
  • The Little Book of Behavioral Investing: How Not to Be Your Own Worst Enemy – James Montier
  • The Greatest Trade Ever: The Behind-The-Scenes Story of How John Paulson Defied Wall Street and Made Financial History – Gregory Zuckerman
  • Reminiscences of a Stock Operator – Edwin Lefèvre
  • Market Sense and Nonsense: How the Markets Really Work (and How They Don’t) – Jack D. Schwager

Business & Strategy

  • How to win friends and influence people – Dale Carnegie
  • Everything You Wanted to Know About Business & Economics – Rommel Rodrigues
  • The Goal – Eliyahu M Goldratt
  • Competitive Strategy – Michael E Porter
  • The Competitive advantages of Nations – Michael E Porter
  • Built to Last – Jim Collins
  • Good to Great – Jim Collins
  • How the mighty Fail – Jim Collins
  • The Art of War – Sun Tzu
  • Nuts! – Kevin Freiberg, Jackie Freiberg
  • Business Stripped Bare – Richard Branson
  • Steve Jobs: A Biography – Walter Issacson
  • In Search of Excellence: Lessons from America’s Best-Run Companies – Tom Peters, Robert H. Waterman
  • Who moved my Cheese – Dr. Spencer Johnson
  • Execution: The Discipline of Getting Things Done – Larry Bossidy and Ram Charan
  • The Essential Drucker – Peter F. Drucker
  • Moneyball – Michael Lewis
  • The Best Business Books Ever: The Most Influential Management Books You’ll Never Have Time to Read – Basic Books
  • Small Giants: Companies That Choose to Be Great Instead of Big – Bo Burlingham
  • The 21 Irrefutable Laws of Leadership – John C. Maxwell
  • Titan – The life of John D Rockefeller Sr. – Ron Chernow
  • Sam Walton: Made in America – Sam Walton with John Huey
  • The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change – Stephen R. Covey
  • The New Digital Age: Reshaping the Future of People, Nations and Business – Eric Schmidt, Jared Cohen
  • The Best Business Books Ever: The 100 Most Influential Management Books You’ll Never Have Time to Read – Perseus Publishing
  • Lateral Thinking – Edward De Bono

 

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Warren Buffett and Klarman on Investing and Economy


  1. 7 Secrets of Investing the Warren Buffett Way
  2. 12 simple lessons to learn from Warren Buffett
  3. Klarman: Economy ‘House of Cards’, ‘Will Eventually Implode’

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