Investing *

House of Cards: A Tale of Hubris and Wretched Excess on Wall Street, William D. Cohan, 2010.

The Last Tycoons: The Secret History of Lazard Frères & Co., William D. Cohan, 2008.

The Price of Silence, The Duke Lacrosse Scandal, and the Corruption of Our Great Universities, William D. Cohan, 2014.

the winner of the 2007 FT/Goldman Sachs Business Book of the Year Award. His book, The Price of Silence, about the Duke lacrosse scandal, was published in April 2014 and was also a New York Times bestseller. His new book, Why Wall Street Matters (2017), 

William D. Cohan, a former senior Wall Street M&A investment banker for 17 years at Lazard Frères & Co., Merrill Lynch and JPMorganChase, is the New York Times bestselling author of three non-fiction narratives about Wall Street: Money and Power: How Goldman Sachs Came to Rule the World (2012); House of Cards: A Tale of Hubris and Wretched Excess on Wall Street (2010); and, The Last Tycoons: The Secret History of Lazard Frères & Co. (2008), the winner of the 2007 FT/Goldman Sachs Business Book of the Year Award. His book, The Price of Silence, about the Duke lacrosse scandal, was published on April 2014 and was also a New York Times bestseller. His new book, Why Wall Street Matters (2017), was published by Random House in February 2017. He is a special correspondent at Vanity Fair and a columnist for the DealBook section of the New York Times. He also writes for The Financial Times, The New York Times, Bloomberg BusinessWeek, The Atlantic, The Nation, Fortune, and Politico. He previously wrote a bi-weekly opinion column for The New York Times and an opinion column for BloombergView. He also appears regularly on CNN, on Bloomberg TV, where he is a contributing editor, on MSNBC and the BBC-TV. He has also appeared three times as a guest on the Daily Show, with Jon Stewart, The NewsHour, The Charlie Rose Show, The Tavis Smiley Show, and CBS This Morning as well as on numerous NPR, BBC and Bloomberg radio programs. He is a graduate of Phillips Academy, Duke University, Columbia University School of Journalism and the Columbia University Graduate School of Business. He grew up in Worcester, Massachusetts and now lives in New York City with his wife and two sons.

[posted Monday, May 14, 2018] Tectonic Shifts in Financial Markets: People, Policies, and Institutions, Henry Kaufman, 2016.  Robert Wenzel offers an excellent review.  

The Stock Market, Credit, and Capital Formation, Fritz Machlup, 1930.

Economist Fritz Machlup was an early Misesian who wrote this book as an early study in the workings of the business cycle. In particular, he investigates and explains the relationship between expanding credit, monetary policy, and rising stock prices. The German edition was written in 1929 and published in 1930 and proved prophetic in every way. The English edition came out in 1940, with some revisions. It remains the most thorough analysis of stock-market bubbles from the point of view of the Austrian School. It demonstrates that the business cycle can and does affect stock markets and in unusual ways.

On Machlup’s book, Robert Wenzel writes

Krugman needs to spend some of his Nobel Prize money and read The Stock Market, Credit, and Capital Formation by Fritz Machlup. Machlup goes into detail on what different stock and bond positioning means. Nothing was done like it before he detailed it all and no one has since.

Mark Thornton points out that

Ironically, his dismissal of the traditional gold standard as a possible solution on grounds of political practicality led to a temporary split with his mentor, Ludwig von Mises. Later, when Mises was seeking a publisher for his 1949 work Human Action, Machlup intervened on his behalf with Yale University Press. Machlup’s influence was decisive in bringing this great book, the culmination of the Austrian School, to light. 

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