One of the biggest questions of the financial crisis has not been answered until now: What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers—right from the belly of the beast. In A Colossal Failure of Common Sense, Larry McDonald, a Wall Street insider, reveals, the culture and unspoken rules of the game like no book has ever done. The book is couched in the very human story of Larry McDonald’s Horatio Alger-like rise from a Massachusetts “gateway to nowhere” housing project to the New York headquarters of Lehman Brothers, home of one of the world’s toughest trading floors. We get a close-up view of the participants in the Lehman collapse, especially those who saw it coming with a helpless, angry certainty. We meet the Brahmins at the top, whose reckless, pedal-to-the-floor addiction to growth finally demolished the nation’ s oldest investment bank. The Wall Street we encounter here is a ruthless place, where brilliance, arrogance, ambition, greed, capacity for relentless toil, and other human traits combine in a potent mix that sometimes fuels prosperity but occasionally destroys it. The full significance of the dissolution of Lehman Brothers remains to be measured. But this much is certain: it was a devastating blow to America’s—and the world’s—financial system. And it need not have happened. This is the story of why it did.
A New York Times bestselling author and leading expert on market risk argues that seismic shifts in the global economy will trigger a multi-trillion-dollar migration of wealth, outlining new rules of investing for the forward-thinking. “I can’t tell you how much I learned from How to Listen When Markets Speak. The historical perspectives and insights are something every investor needs to know. Buy this book.”—Mark Cuban From Wall Street to the White House, the fantasy of an eventual “return to normal” is still alive and well, nurtured by dangerously outdated theories. But the economic world as we know it—and the rules that govern it—are over. In the coming decade, we’ll witness sustained inflation, a series of sovereign and corporate debt crises, and a thundering of capital out of financial assets into hard assets. Few are prepared. Lawrence G. McDonald, founder of the economic research platform The Bear Traps Report, got a real-world education in market risk when, as a Lehman Brothers VP, he watched the firm ignore flashing warning signs before its collapse. His analysis led him to identify twenty-one indicators for gauging the health of an economy and detecting early signals of opportunity and danger. In How to Listen When Markets Speak, McDonald unveils his unique predictive models, connecting surprising dots between past, present, and future and outlining actionable trading ideas for staying a beat ahead of the markets. Readers will learn: • How disastrous Fed policy will collide with an increasingly fragmented geopolitical landscape to keep U.S. inflation near 3-5% for the next decade • How growing demand for oil and gas, underinvestment in urgently needed energy infrastructure, and cozy Russia–Saudi Arabia relations will lift the base price of energy to historic levels • Why hard assets and rare minerals like lithium and cobalt will outperform growth stocks, U.S. treasuries, and overcrowded passive investment strategies—how to detect bearish and bullish trends in advance • How passive investing and the vehicles intended to democratize finance have fueled bubbles and ideological skew by large market participants, leaving millions of 401(k)s and IRAs at risk • Why America will likely lose its position as a global superpower and holder of the world’s premier reserve currency, and may be forced to slash Social Security, Medicare, and military spending Rather than merely doomsaying, How to Listen When Markets Speak equips readers to make sense of our current moment, resist reactionary narratives and baseless analysis, and preserve their wealth in turbulent times. When markets speak, it pays to listen.
Complete Digital Illustration is an informative and practical guide to this in-demand area of design. Alongside step-by step tutorials, top image-makers from around the world provide real and practical advice on setting up a studio, creating a killer portfolio, and winning commissions. The work featured in the book reflects the wide and exciting range of image-making practice that thrives today, from music and fashion to character and toy design. The book reveals the secrets of the industry’s most successful creatives who transfer traditional illustrative skills into digital dimensions, producing the highest quality, most commercially successful animation, three-dimensional, and vector-based illustration. This book offers a master class for students and professional designers and illustrators who want to take their work beyond the constraints of two-dimensions and gain greater commercial success. An inspirational, must-have guide, Complete Digital Illustration is also of real value for professional image-makers.
Besides guiding you through Sedona's sight-seeing and recreational bounty, this book connects you emotionally and spiritually with Sedona. Insightful narrative, touring tips, and color photographs infuse in you Sedona's physical and metaphysical allure.
Sport has come to have an increasingly large impact on daily life and commerce across the globe. From mega-events, such as the World Cup or Super Bowl, to the early socialization of children into sport, the study of sport and society has developed as a distinctly wide-ranging scholarly enterprise, centered in sociology, sport studies, and cultural, media, and gender studies. In The Oxford Handbook of Sport and Society, Lawrence Wenner brings together contributions from the world's leading scholars on sport and society to create the premier comprehensive and interdisciplinary reference for scholars and students looking to understand key areas of inquiry about the role and impacts of sport in contemporary culture. The Handbook offers penetrating analyses of the key ways that today's outsized sport is integrated into the lives of both athletes and fans and increasingly shapes the social fabric and cultural logics across the world. Featuring 85 leading international scholars, the volume is organized into six sections: society and values, enterprise and capital, participation and cultures, lifespan and careers, inclusion and exclusion, and spectator engagement and media. To aid comprehension and comparison, each chapter opens with a brief introduction to the area of research and features a common organizational scheme with three main sections of key issues, approaches, and debates to guide scholars and students to what is currently most important in the study of each area. Written at an accessible level and offering rich resources to further study each topic, this handbook is an essential resource for scholars and students as well as general readers who wish to understand the growing social, cultural, political, and economic influences of sport in society and our everyday lives.
The cup was presented to the Wagga Wagga CA on the October 20, 1925, by Mr. Thomas Joseph “Tom” O’Farrell, who was a tailor with a business in Wagga Wagga. Its purpose was to raise the standard of country cricket and help arouse the interest and enthusiasm of both players and public in the game. By the original rules, which were drawn up by Mr. O’Farrell, Mr. M. Cusick, and Mr. G. Pinkstone, the cup was won outright by Wagga, who wisely redonated it, and it was put into play in the 1930–31 season as a perpetual challenge trophy for teams within one hundred miles radius of Wagga Wagga. O’Farrell was a frequent spectator at games and often handed over the cup to the winning captain. He was later to say, “I am particularly glad that the competition is doing so much to let the residents of surrounding towns learn more of each other in so friendly a way.”
A New York Times bestselling author and leading expert on market risk argues that seismic shifts in the global economy will trigger a multi-trillion-dollar migration of wealth, outlining new rules of investing for the forward-thinking. “I can’t tell you how much I learned from How to Listen When Markets Speak. The historical perspectives and insights are something every investor needs to know. Buy this book.”—Mark Cuban From Wall Street to the White House, the fantasy of an eventual “return to normal” is still alive and well, nurtured by dangerously outdated theories. But the economic world as we know it—and the rules that govern it—are over. In the coming decade, we’ll witness sustained inflation, a series of sovereign and corporate debt crises, and a thundering of capital out of financial assets into hard assets. Few are prepared. Lawrence G. McDonald, founder of the economic research platform The Bear Traps Report, got a real-world education in market risk when, as a Lehman Brothers VP, he watched the firm ignore flashing warning signs before its collapse. His analysis led him to identify twenty-one indicators for gauging the health of an economy and detecting early signals of opportunity and danger. In How to Listen When Markets Speak, McDonald unveils his unique predictive models, connecting surprising dots between past, present, and future and outlining actionable trading ideas for staying a beat ahead of the markets. Readers will learn: • How disastrous Fed policy will collide with an increasingly fragmented geopolitical landscape to keep U.S. inflation near 3-5% for the next decade • How growing demand for oil and gas, underinvestment in urgently needed energy infrastructure, and cozy Russia–Saudi Arabia relations will lift the base price of energy to historic levels • Why hard assets and rare minerals like lithium and cobalt will outperform growth stocks, U.S. treasuries, and overcrowded passive investment strategies—how to detect bearish and bullish trends in advance • How passive investing and the vehicles intended to democratize finance have fueled bubbles and ideological skew by large market participants, leaving millions of 401(k)s and IRAs at risk • Why America will likely lose its position as a global superpower and holder of the world’s premier reserve currency, and may be forced to slash Social Security, Medicare, and military spending Rather than merely doomsaying, How to Listen When Markets Speak equips readers to make sense of our current moment, resist reactionary narratives and baseless analysis, and preserve their wealth in turbulent times. When markets speak, it pays to listen.
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