Wednesday, April 15, 2009

The End of Food by Paul Roberts

In the book, Roberts says one of the main roots of the wider food crisis is the way a unified farming process was broken down into discrete components so that they could each be industrialised, from the development and production of seeds and the mechanisation of planting and harvesting through to factory-scale food processing.
These changes have lead to a system where each individual step in the process takes no account of the wider costs imposed on the rest of society.
In addition, there is an ongoing concern about climate change. Not only does this system generate enormous greenhouse gas emissions. It is also dependant on huge quantities of water, something that is to become less secure as existing water sources are used up.
Roberts says, for example 'bird flu' is one of a number of bullets that could strike the modern food system . He also lists oil price rise, extreme weather, plant diseases and the loss of water supplies as other potential disasters awaiting us in this global Russian Roulette.
The title of this book - The end of food - means the collapse of this industrialised food system. It is this pessimism that runs to the heart of the book.

Saturday, March 28, 2009

Jeremy Siegel and his investment books

Jeremy Siegel, a Professor of Finance at the Wharton School of the University of Pennsylvania has written a number of books on investment. The following two books are his research works on stocks.

Stocks for the Long Run (4Th edition): The definitive guide to financial market returns and long term investment strategies

This book is the best summary of the historical data on investing in US (with some comparison to other financial markets as well). The main topics are:
1. The Verdict of History;
2. Stocks Returns;
3. Economic Environment of Investing;
4. Stock Fluctuations in the Short Run;
5. Building Wealth Through Stocks.

Another book is

The Future for Investors: Why the tried and the true triumph over the bold and the new

This book cover five parts:
First two parts focus on analysis of historic data using very unique perspective, mostly with respect to changing membership of SP500 index over the years.
In the Third and Fourth parts, he discusses the different measures to consider while analysing a company's performance from the shareholders' points of view.
The Fifth part is the most useful for reader seeking investment advice. He provides a sample portfolio based on the principles he explains in the Third and Fourth parts of the book. In addition to percentage allocation for US and non-US(about 30-40%) markets, he provides allocation targets for some of the specific investment strategies he discusses in the book (centred around the dividend paid by the company).

Tuesday, March 10, 2009

The New Paradigm for Financial Markets

The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means

This is a book written by George Soros. It was published in May 2008 before the severe financial crisis in Sept 2009. So George Soros became a successful prophet of the markets.

In his book, he offers some solutions, which centre on new regulation for markets and how to avoid forced sales for US homeowners. The theory he developed is based on 'the relationship between thinking and reality' - "Reflexivity". He says, participants' thinking plays a dual function: they try to understand the situation, and to change it. The two functions can interfere with each other, when they do so the markets displays 'reflexivity'.

Soros believes that a super bubble has been formed as the result of a "long-term reflexive process". Its hallmarks include credit expansion and a prevailing misconception. There have been numerous financial crisis in this period, and these served as successful tests which reinforced the prevailing trend and the prevailing misconception. Thus the current crisis grows in severity because it marks the turning point when both the trend and the misconception have become unsustainable.

Tuesday, March 3, 2009

Wednesday, February 25, 2009

Futurecast by Robert J Shapiro

This book is written by Robert J Shapiro. He looks into the future to tell us what our world will over the next dozen years.
Shapiro foresees monumental changes caused by three historic new forces - Globalization, the Aging of societies and the rise of America as a sole superpower with no near peer - will determine the paths of nations and the lives of countless millions.
Rob Shapiro thinks we can expect
- US military hegemony will be a thing of the past while the new superpower rivalry will be between China and the US.
- Mexico and Turkey will produce most of the world's cars.
- The US will be the premiere source of products and services, but the economy will be hostage to foreign lenders for capital to develop these products.
- China will be able to offer less-developed countries a new model of political and economic success based on investment -led growth.
- Japan and Europe will move to the periphery of world power.
-Labour forces will contract and economic growth will be stymied, the vast number of retirees will create a financial crisis for government.
- Two wild cards : Terrorism & Technological Advancement have the potential to unpredictably alter the projected future outcome. Technological advancement includes nanotechnology, biotechnology and information technologies.

Friday, January 23, 2009

The Snowball - Warren Buffet and the Business of Life

Miss Alice Schroeder, a former managing director at Morgan Stanley- an insurance analyst - and hand picked by Buffet to be his biographer - strips away the mystery that has long cloaked the world's richest man to reveal a life of fortune erected around lucid and inspired business vision and unimaginable personal complexity.

The Snowball is the much anticipated book recounting with intimate detail the life experiences and life-wisdom of the man known as " The Oracle of Omaha": Warren Buffet.

Being human, Buffet's own life, like most lives, has been a mix of strengths and frailties. Yet notable though his wealth may be, Buffet's legacy will not be his ranking on the scorecard of wealth, it will be his principles and ideas that have enriched people's lives. This book tells you why Warren Buffet is the most fascinating American success story of our time.

Saturday, January 3, 2009

Professor John Allen Paulos and his books

John Allen Paulos is a professor of mathematics at Temple University in Philadelphia, who has gained fame as a writer and speaker. His book "Innumeracy" was an influential bestseller and "A Mathematician Reads the Newspaper" extended the critique.

The following are the abstracts of some of the books written by him.

Innumeracy - Mathematical Illiteracy and its Consequences : Innumeracy is an examination of some of the consequences in every day life of mathematical illiteracy. Topics addressed include stock scams, para psychological claims, medical testing & etc.

A Mathematician Reads the Newspaper : The book, structured like the morning paper, investigates the mathematical angles of stories in the news and offers novel perspectives, questions, and ideas to coffer-drinkers, policy-makers, gossip-mongers and others who can't get along without their daily paper.

Mathematics and Humor : In the book, he (i) explores the operations and structures common to humor and the formal sciences. (ii) shows how various notions from these sciences provide formal analogues for different sorts of jokes and joke schema and (iii) develops a mathematical model of jokes using ideas from "catastrophe theory".

A Mathematician Plays the Stock Market : The book primary purpose is to lay out, elucidate, and explore the basic conceptual mathematics of the market.