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Consilient Investor > Book Reviews > Page 2 of 2

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Book Review: Extraordinary Popular Delusions...
Mackay's revered tome is as much an endorsement of Austrian Economics as it is a documentation of mob psychology. The frenzy intensifies to a point of unsustainability, the true believers falter, and then it all comes crashing back to earth again.
Book Review: Adventure Capitalist
The four dominant themes of Adventure Capitalist are bureaucracy, border hazards, untapped potential, and the transient nature of greatness. The country with a positive border-crossing experience, China, is the only one Rogers is wildly bullish on.
Book Review: The Money Game
There is no way a book written in 1966 could sound perfectly suited to 2001, no way that bowling stocks and fiber-optic packet-switching stocks could give near identical performances under mania circumstances, unless the game is indefinitely, immutably the same.
Book Review: Liar's Poker
This book was one of the earliest to roll back the i-banker canopy of secrecy and respectability, revealing Wall Street at its heart -- a bunch of thuggish suits with varying levels of pedigree, endlessly looking for new and creative ways to mug their clients.
Book Review: Fooled by Randomness
Taleb does not assault your brain with new math or doctorate level concepts; rather, he points things out with such casual ease, you wind up wondering how you could have missed the clarity before. It is a case of adding valuable depth, rather than breadth, to knowledge of probability.
Book Review: Mastery
This is not really a self-help book; nor is it truly a motivational book. Leonard's goal is more to explain and to guide than to motivate. To stay on the path of mastery he describes, the passion must be cultivated separately (or already be in place).
Book Review: Futures -- Fundamental Analysis
There is no question that, when it comes to informational books on the futures markets, Schwager is one of the best around. This one meets his high standard of quality and informativeness. But for those looking to trade the commodity markets -- rather than invest in them -- there is reason to be wary.
Book Review: Master Swing Trader
This book is a potentially useful volume for anyone who wants to brush up on TA techniques. The most hyped up aspect is the title -- it will not make you a `master' of anything -- but it could increase your knowledge of what swing trading is all about.
Book Review: Influence -- The Psychology of Persuasion
Cialdini uses well chosen examples to illustrate how the behavioral / cultural conditioning we receive from birth, designed to make us functioning members of an orderly society, also creates exploitable weaknesses within our psychological frameworks.
Book Review: Stock Market Wizards
A good measure of interview books is whether those being interviewed have unique and interesting things to say, or a fresh angle on a subject to give it new perspective. By that criterion, SMW does not match its predecessors but still shines.
Book Review: Fuzzy Thinking -- The New Science...
We do not live in a black and white world; many things are in between, and science is silly to pretend otherwise. Reality is messy, complex, and does not fit into a box. A simple statement at heart, but one with profound implications that Kosko does a decent job of exploring.
Book Review: What I Learned Losing a Million Dollars
An alternative title to this book could be, "What I learned losing my ego." The author's main message is that success fed his ego until he felt that winning was his birthright. He thought he could do no wrong, which led to inevitable downfall.
Book Review: Technical Analysis of the Futures Markets
To sum up, buy this book if you are new to technicals, if you want to brush up on your knowledge, or if you just want a handy reference. But be wary of the prediction trap; keep your understanding of probability and odds intact.
Book Review: Trader Vic--Methods of a Wall St Master
Sperandeo is a trader's trader -- the kind of guy who sees life as a fun challenge, and would happily trade anything from pork bellies to Pokemon cards (as long as the liquidity and profit opportunity is there).
Book Review: Winner Take All
When a book bills itself as "brutally honest," you are usually in for some interesting reading. But, shooting wide of his mark, Gallacher attacks the habits that mark poor trading in general, rather than technical analysis as a method.
Book Review: A Complete Guide to the Futures Markets
Schwager approaches markets the way a mathematics professor would approach a particularly thorny problem: with logic, rigor and a visible lack of passion. His strengths are in crunching the numbers and laying out basic facts and theories with precision and clarity.
Book Review: Trading in the Zone
One of the keys to successful trading is recognizing that the market is not necessarily a combatant. It does not have to be a bloodstained arena, a boxing ring, a firefight, or even a physical thing. Trading in the Zone helped me to realize this...
Book Review: Basic Economics
Standard economic theory (as taught in universities) might work if people were soulless robots who acted with the precision and predictability of computer programs. But they are not and do not. Mr. Sowell speaks plainly, conveying simple concepts that ivy league professors find themselves at a loss to understand.
Book Review: The 80/20 Principle
Sometimes a single idea or reflection is worth the price of the book, especially if it leads to new pathways of thinking. Koch's idea that the average "busy" individual has a surplus of time, rather than a sharp scarcity of it, is intriguing and worth pondering.
Book Review: The Disciplined Trader
If you are comfortable with your psychology and have the discipline to follow your methodology without fail, you probably don't need this book. But if you still struggle (as a majority of traders do), then the insights here may very well be worth the price.
Book Review: Japanese Candlestick Charting Techniques
This book explains how candlesticks take reading crowd psychology to the next level. Not only does Nison teach recognition of the important patterns, he explains the psychological motivation behind those patterns -- the emotions and sentiments unfolding as those patterns are created.


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