Book review of Rana Foroohar's 'Makers and Takers: How Wall Street destroyed Main Street'. She shows in her new book how financial greed came to disengage the economy of the vast majority of the population from the Wall Street economy - the economy that belongs to the top 1%.
The funny thing with modern financial markets is that the next crisis always appears to be lurking around the corner. World barely seems to have climbed out of the mess it got itself into six years ago. Weekly, there are news of financial impropriety and insider chicanery from across the world. With glib con men … Continue reading Flash Boys: A Wall Street Revolt
The book review of 'The Misbehaviour of Markets' - one of the finest works of the late legendary mathematician Benoit Mandelbrot.
"The charm of history and its enigmatic lesson consist in the fact that from age to age, nothing changes and yet everything is completely different." - Aldous Huxley 'The Ascent of Money' is a scintillating journey tracking the evolution of money from the erstwhile Babylonian clay tablets to the exotic financial instruments of modern day. … Continue reading The Ascent of Money
In the last one decade, many authors have highlighted the predicaments of emerging economies, but none so successfully as Ruchir Sharma has. Head of Investments in Emerging Markets for Morgan Stanley, Ruchir Sharma is an established name, courtesy his incisive op-Ed articles in The Economic Times. "Breakout Nations" is his travelogue interspersed with the cold … Continue reading Breakout Nations
When the US subprime mortgage market took the nosedive in 2008, its ripples were felt across the world. The resulting cascading effect decimated one financial domino after another. Some institutions were rescued while others were left to go under. Often, it is in the catastrophic times like these that the long-standing, cherished doctrines are blown … Continue reading The Myth of the Rational Market