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The New Robber Barons - Janet Tavakoli Free on Kindle Feb 21st


Aberhound

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Obviously free is free, but I don't know.  Maybe it's just me, but I find Janet Tavakoli impossible to read.  She is a self-proclaimed expert in structured finance and her books are all over the place and don't make a ton of sense.  Her book on Warrent Buffett (I forget the title) was such a scam.  She met him once, although they have corresponded a few times, and she writes an entire book about "what Warren would do" in various situations.  It was one of the few books that I just couldn't get past around 40-50 pages and wished I could return it and get my money back.

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I might observe that some books have negative value.  (Not necessarily the one in question because I've not read it.)  There's the opportunity cost - as in that's X hours I won't get back.  Even worse is the cost of absorbing poor mental models.  Those can be quite expensive ...  As a result, I've become rather more selective in my book reading over time.  (Wow, that was overly grouchy  ;) )

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I think Mike Burry has credit her book [amazonsearch]Credit Derivatives Synthetic Structures[/amazonsearch] with being the tool he used to first understand credit derivatives and then come up with his big CDS idea.

It's far from being free tho  :)

 

A bit expensive, but I'd say that Burry got a pretty good ROI on that one ;)

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I might observe that some books have negative value.  (Not necessarily the one in question because I've not read it.)  There's the opportunity cost - as in that's X hours I won't get back.  Even worse is the cost of absorbing poor mental models.  Those can be quite expensive ...  As a result, I've become rather more selective in my book reading over time.  (Wow, that was overly grouchy  ;) )

 

Yes and I think the vast majority of the investment books do fall under this category. Over the last couple of years I have drastically cut down on the number of investment books I read just for this reason.

 

Just think what is the value of a leather bound book containing verbatim all the comments on the Level 3 thread. I would pay a large amount to avoid reading such a book, just to avoid suicidal thoughts!

 

Vinod

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