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Archive for the 'Columbia Business School Publishing' Category

Friday, December 23rd, 2016

Introducing Class Clowns

Class Clowns

“At the end of the day, the underlying motivations of the various actors matter less than knowing how to avoid the mistakes detailed here. The trick is to retain the passion for education but lose the emotional or ideological commitments to particular solutions.” — Jonathan A. Knee

This week, our featured book is Class Clowns: How the Smartest Investors Lost Billions in Education, by Jonathan A. Knee. Today, for the final day of the feature, we are happy to present an excerpt from Knee’s introduction.

Don’t forget to enter our book giveaway for your chance to win a free copy of Class Clowns!

Monday, December 19th, 2016

Book Giveaway! Class Clowns: How the Smartest Investors Lost Billions in Education

Class Clowns

Class Clowns is more than a business book, or a book on the education industry. Filled with colorful characters and gripping narratives, it poses deep questions that should engage a broad audience. By bringing the keen insights of a veteran investment banker, Knee demonstrates that no matter the goals, any business is subject to the basic laws of economies of scale, geographic advantage, and barriers to entry. This is an important lesson that many in the education sector seem to have ignored” — James B. Stewart, Pulitzer Prize–winning author of Den of Thieves

This week, our featured book is Class Clowns: How the Smartest Investors Lost Billions in Education, by Jonathan A. Knee. Throughout the week, we will be featuring content about the book and its author on our blog as well as on our Twitter feed and our Facebook page.

Thursday, November 3rd, 2016

Rolling the Dice

A Brief History of Entrepreneurship

“To paraphrase Virgil, both fortune and misfortune tend to favor the bold. In other words, the surest route to avoiding misfortune is certainly not by starting one’s own business. Those who are motivated primarily by a fear of discomfort, uncertainty, and the like will find a safer way to earn a living. Of course, in many instances, such people will fare better economically over the long run than the perennial risk-taker. Nonetheless, those looking for the safe route are not likely to become entrepreneurs, successful or otherwise.” — Joe Carlen

This week, our featured book is A Brief History of Entrepreneurship: The Pioneers, Profiteers, and Racketeers Who Shaped Our World, by Joe Carlen. For today’s post, Carlen discusses the traits that are most commonly shared by successful entrepreneurs throughout history.

Don’t forget to enter our book giveaway for a chance to win a free copy of A Brief History of Entrepreneurship!

Rolling the Dice
By Joe Carlen

During a recent radio interview about A Brief History of Entrepreneurship, the host asked me about those traits that are most commonly found among successful entrepreneurs. Having recently written a book that traces entrepreneurship from the dawn of civilization to the nascent space tourism industry, three initial answers sprung to mind. In this piece, I will review each of them, and discuss my personal choice for the single most important trait shared by successful entrepreneurs.

Ingenuity? Certainly, some of history’s greatest entrepreneurs, especially those of recent centuries, were distinguished by their ingenuity. Yet, many more, equally successful, were not especially innovative, at least in the technological sense. Moreover, some of the most creative ones – like Samuel Crompton, the brilliant industrial innovator who failed to adequately protect his intellectual property – never attained significant financial success. Meanwhile, even some of today’s largest technology companies were not founded on particularly original ideas. Rather, some are enterprises that grew out of tweaking existing concepts and promoting them far more aggressively and effectively than the original innovators ever did. (more…)

Wednesday, November 2nd, 2016

Introducing “A Brief History of Entrepreneurship”

A Brief History of Entrepreneurship

“Throughout history, the entrepreneur’s ceaseless quest to discover and/or develop new markets has been pursued through a variety of means, all of which have had an enormous impact on society…. So while this book does not posit a moral argument for or against entrepreneurship, it does argue that it has been a “prime mover,” an instigator of seminal transformations that have altered the course of history.” — Joe Carlen

This week, our featured book is A Brief History of Entrepreneurship: The Pioneers, Profiteers, and Racketeers Who Shaped Our World, by Joe Carlen. Today, we are happy to present an excerpt from Carlen’s Introduction, in which he traces the term “entrepreneur” back to its invention, and explains what made him investigate the history of economic invention.

Don’t forget to enter our book giveaway for a chance to win a free copy of A Brief History of Entrepreneurship!

In 1985, Peter Drucker, the late management expert, defined entrepreneurship as “the act that endows resources with a new capacity to create wealth,” among the most specific and meaningful definitions of the term. More literally, the words “entrepreneurship” and “enterprise” both derive from the Old French word for “an undertaking,” entrependre. Yet even in French, the related word entrepreneur did not take on its current meaning until the economist Jean-Baptiste Say so imbued it in 1800.

In the English language, until the mid-nineteenth century, when the French term entrepreneur began to enjoy common usage outside France, the term undertaker (a literal translation of the French word) was sometimes used in its stead. More frequently, however, the more evocative term “adventurer” was preferred. In this vein, the American economist William Baumol once defined the entrepreneur as “the individual willing to embark on adventure in pursuit of economic goals.” These individuals and the often unintended impact of their adventures on the course of world history are the focus of this book. (more…)

Tuesday, November 1st, 2016

Flying Money and Capitalist Monks

A Brief History of Entrepreneurship

“Living in the land where paper had been invented several centuries earlier, these Chinese entrepreneurs began using paper bills of credit representing and exchangeable for a certain sum of guan. Upon selling their shipments of tea in the city, usually the dynasty capital Chang’an, they would receive paper IOUs…. The lightness of paper money, especially in comparison with copper coinage, inspired the name fei-qian, ‘flying money.’” — Joe Carlen

This week, our featured book is A Brief History of Entrepreneurship: The Pioneers, Profiteers, and Racketeers Who Shaped Our World, by Joe Carlen. To start the feature, we are happy to present an excerpt from “Flying Money and Capitalist Monks,” Carlen’s chapter on entrepreneurship in Tang and Song China.

Don’t forget to enter our book giveaway for a chance to win a free copy of A Brief History of Entrepreneurship!

Monday, October 31st, 2016

Book Giveaway! A Brief History of Entrepreneurship, by Joe Carlen

A Brief History of Entrepreneurship

“Joe Carlen delves in primary and secondary sources, including texts on modern management, and presents them in readable and attractive prose. A Brief History of Entrepreneurship is a light and enjoyable read.” — Ali Kahn, Abram Hutzler Professor of Political Economy, Johns Hopkins University

This week, our featured book is A Brief History of Entrepreneurship: The Pioneers, Profiteers, and Racketeers Who Shaped Our World, by Joe Carlen. Throughout the week, we will be featuring content about the book and its author on our blog as well as on our Twitter feed and our Facebook page.

Thursday, April 7th, 2016

Lessons from Google and Columbia’s CMO Academy

The Digital Transformation Playbook

“As the media available to customers proliferates, effective targeting is absolutely critical. Your message matters; but increasingly, who you reach is the difference between success and failure. In the digital era, targeting is fundamentally different than the traditional world of media buying. Marketers must shift from the old thinking of audiences (based on demographic fictions, e.g. ‘fashion-savvy, 25-40 year old, urban mothers’) towards addressing specific customers based on their actual behaviors.” — David L. Rogers

This week, our featured book is The Digital Transformation Playbook: Rethink Your Business for the Digital Age, by David L. Rogers. In today’s post, crossposted from David Rogers’s blog, Rogers details seven important lessons learned from Google/Columbia Business School’s recent “CMO Academy.”

Don’t forget to enter our book giveaway for a chance to win a free copy!

Lessons from Google and Columbia’s CMO Academy
David L. Rogers

What are the challenges that today’s Chief Marketing Officers face as they manage a changing role and rising expectations in a world shaped by digital technologies? I got to discuss this question with a hundred CMOs of North American companies recently, while teaching a joint Google/Columbia Business School program, our first-ever “CMO Academy.” The invited executives from the US, Canada, and Mexico represented a diverse range of industries from fashion to financial services, and hospitality to healthcare.

Below are seven lessons that emerged through two days of case studies, interactive presentations, and hands-on problem solving with this group. (more…)

Wednesday, April 6th, 2016

Build Platforms, Not Just Products

The Digital Transformation Playbook

“Airbnb is an example of a platform—a class of businesses that are rethinking which competitive assets need to be owned by a firm (e.g., rental properties and trained service staff) and which can be managed through new kinds of external relationships. These platform businesses are part of a broad transformation of the domain of competition and the relationships between firms.” — David L. Rogers

This week, our featured book is The Digital Transformation Playbook: Rethink Your Business for the Digital Age, by David L. Rogers. In today’s post, excerpted from the third chapter of The Digital Transformation Playbook, Rogers delves into the story of Airbnb to provide an introduction to the rise of “platform businesses” in the digital age.

Don’t forget to enter our book giveaway for a chance to win a free copy!

Build Platforms, Not Just Products
David L. Rogers

In 2007, two recent graduates of the Rhode Island School of Design, Brian Chesky and Joe Gebbia, were struggling to pay the rent on their apartment in San Francisco. When they heard that the city’s hotels were fully booked during an upcoming design conference, they had an entrepreneurial idea: Why not rent out a bit of their space? They bought three airbeds (inflatable mattresses), put up a website, and, within six days, found three guest lodgers. Each one paid $80 a night. “As we were waving these people goodbye, Joe and I looked at each other and thought, there’s got to be a bigger idea here,” Chesky said. By the following year, they had teamed up with another friend, computer science graduate Nathan Blecharczyk, and started a business that they later named Airbnb.

By 2015, Airbnb had served 25 million travelers, providing them with lodging in over 190 countries around the world. But it doesn’t look like a typical global corporation in the business of providing lodging and hospitality. Instead of building hotels and hiring employees to serve customers, the three founders built a platform that brings together two distinct types of people: hosts with homes to rent (whether a spare room or their whole home while they are away) and travelers who are looking for someplace to stay. The company has minimal assets. In fact, it doesn’t own a single rental property. Yet it can offer travelers their choice of more than 1 million listings, ranging from a sofa or tiny guest room up to an actual castle (more than 600 are available to rent). The company takes a cut of the rental fee on each transaction. (more…)

Tuesday, April 5th, 2016

The Five Domains of Digital Transformation

The Digital Transformation Playbook

“[D]igital technologies are redefining many of the underlying principles of strategy and changing the rules by which companies must operate in order to succeed. Many old constraints have been lifted, and new possibilities are now available. Companies that were established before the Internet need to realize that many of their fundamental assumptions must now be updated.” — David L. Rogers

This week, our featured book is The Digital Transformation Playbook: Rethink Your Business for the Digital Age, by David L. Rogers. Today, we are happy to present an excerpt from the first chapter, “The Five Domains of Digital Transformation,” in which Rogers introduces the five key domains of strategy that digital forces are reshaping.

Don’t forget to enter our book giveaway for a chance to win a free copy!

Monday, April 4th, 2016

Book Giveaway! The Digital Transformation Playbook, by David L. Rogers

The Digital Transformation Playbook

“In this indispensable (and highly readable) guide, Rogers shares what we can learn from today’s greatest digital innovators. Packed with illuminating case studies and practical tools, The Digital Transformation Playbook maps out clear strategies for thriving in the digital age. Don’t start a business without it.” — Neil Blumenthal, cofounder and co-CEO, Warby Parker

This week, our featured book is The Digital Transformation Playbook: Rethink Your Business for the Digital Age, by David L. Rogers. Throughout the week, we will be featuring content about the book and its author on our blog as well as on our Twitter feed and our Facebook page.

We are also offering a FREE copy of The Digital Transformation Playbook. To enter our book giveaway, simply fill out the form below with your name and preferred mailing address. We will randomly select our winners on Friday, April 8th at 1:00 pm. Good luck, and spread the word!

Friday, February 19th, 2016

The First Financial Commandment for the 21st Century: “Thou Shalt Not Plead Total Investment Ignorance”

Investment: A History

“If people knew their history, they would marvel at the sheer range of investment opportunities now available to them. The idea that investing has become democratic probably feels alien to most people, but investing is extremely democratic today compared to past eras. So it is incumbent on the average person to learn enough to be his or her own best advocate in taking advantage of all this new-found opportunity.” — Norton Reamer

This week, our featured book is Investment: A History, by Norton Reamer and Jesse Downing. For the final post of the week’s feature, Reamer and Downing explain their first financial commandment for today’s investors: “Though Shalt Not Plead Total Investment Ignorance!”

Don’t forget to enter our book giveaway for a chance to win a free copy of Investment: A History! You can also learn more about the book and its authors on the Investment: A History webpage and Youtube channel!

The First Financial Commandment for the 21st Century: “Thou Shalt Not Plead Total Investment Ignorance”

For thousands of years, the only people who qualified as “investors” were wealthy and politically connected landowners. Investment opportunities were few and accessible only to the elite. Yet in the blink of an eye, historically speaking, that world has been replaced by one full of investment opportunities for “everyman,” from stocks and bonds, to mutual funds, to life insurance, to pension plans, to real estate, and many other vehicles for investment.

“If people knew their history, they would marvel at the sheer range of investment opportunities now available to them,” says Norton Reamer, co-author of Investment: A History. Reamer is also the founder of United Asset Management and former CEO of Putnam Investments. “The idea that investing has become democratic probably feels alien to most people, but investing is extremely democratic today compared to past eras. So it is incumbent on the average person to learn enough to be his or her own best advocate in taking advantage of all this new-found opportunity.” (more…)

Friday, February 19th, 2016

Moments in Investing History You’ve Never Heard Of

Investment: A History

This week, our featured book is Investment: A History, by Norton Reamer and Jesse Downing. Today, on the final day of the feature, we are happy to present a short series of Youtube videos produced by the Investment: A History team that take a closer look at turning points in the history of investing that may not be as well-known as they should be. You can see all these videos and more on the Investment: A History Youtube channel!

Don’t forget to enter our book giveaway for a chance to win a free copy of Investment: A History! You can also learn more about the book and its authors on the Investment: A History webpage!

When Social Security Almost Wasn’t

(more…)

Thursday, February 18th, 2016

Savvy Investors Look Back at the History of Investment for Lessons for 2016

Investment: A History

“The key is that successful investors throughout history have stuck to a few basic principles. As complex as investing can be, it is, at the same time, possible to avoid some obvious mistakes.” — Norton Reamer

This week, our featured book is Investment: A History, by Norton Reamer and Jesse Downing. As they explain in today’s post, Reamer and Downing wrote Investment: A History in part to provide investors with a historical perspective that could help them find smarter ways to invest.

Don’t forget to enter our book giveaway for a chance to win a free copy of Investment: A History! You can also learn more about the book and its authors on the Investment: A History webpage and Youtube channel!

New Year’s Resolution for Savvy Investors: Look Back at The History of Investment for Lessons for 2016

Thinking about how to improve your portfolio in 2016? Don’t forget the last three thousand.

A healthy understanding of investment history is a true bonus for investors – lay and professional alike – to avoid pitfalls and to be the best advocates for their own financial interests. Whether it’s running a personal retirement account or a university endowment, ancient history has lessons for portfolios today.

That’s according to Norton Reamer and Jesse Downing, co-authors of Investment: A History. Reamer is also the founder of United Asset Management and former CEO of Putnam Investments, and Downing is an investment professional in Boston. The book traces the history of investment, from the ancient world to the present day, and draws lessons for today’s investors at all levels.

Reamer and Downing note that for thousands of years, the only people who qualified as “investors” were wealthy and politically connected landowners. Yet in the blink of an eye, historically speaking, that world has been replaced by one full of investment opportunities for average people – stocks and bonds, mutual funds, life insurance, pensions and real estate.

“The key is that successful investors throughout history have stuck to a few basic principles,” says Reamer. “As complex as investing can be, it is, at the same time, possible to avoid some obvious mistakes.”

Reamer and Downing have identified four guideposts that can help investors in 2016:

1. Focus on what’s “real” – Don’t get distracted by the form of an investment (e.g., a stock certificate or a bond note). Make sure you understand the real asset behind the piece of paper, such as the company behind the stock you are buying, or the public works project issuing the bond. When buying a mutual fund or other packaged investment the same rule applies: make sure you understand the fund manager’s criteria for buying and selling securities in the portfolio. Focusing on what’s “real” should always be the priority.

2. Focus on fundamental “value” – In its simplest form, the value of an investment today is determined by the present value of its future cash generation – that is, the future cash that the investment will produce over its lifetime. Don’t be distracted by market gyrations. Take a long-term perspective and understand that markets go up and down, often for reasons other than fundamental value. Investors often forget this basic rule and allow emotion to guide their decisions – and make mistakes as a result.

3. Consider the intelligent use of leverage – Excessive leverage is dangerous, but most of the great fortunes in history were built using moderate and smart amounts of leverage. For example, a home mortgage is a sensible form of leverage for most families. On the other hand, taking out a second mortgage to fund a speculative investment is probably foolhardy.

4. Allocate your capital – Every investment is an “allocation” of capital. That is, it’s a choice between competing priorities and opportunities. Make informed, deliberate choices and tradeoffs as you decide where to put your money – especially when the choice is between saving, spending, and investing. Think through your needs. Do your best to be accountable to yourself. Set some objectives and stick to them.

“Investment is one of humanity’s most fundamental activities, and in the modern world it’s open to more people than ever before,” adds Downing. “We encourage everyone to learn some basic investment principles and take full advantage of this unprecedented opportunity.”

Thursday, February 18th, 2016

Five Archetypal Investing Mistakes That Have Bedeviled Investors Through the Ages

Investment: A History

“Decade after decade, we see markets collapse and fortunes vanish for the same basic reasons. Most of the time the root cause is not some complex technical error. It’s just some new flavor of poor judgment.” — Norton Reamer

This week, our featured book is Investment: A History, by Norton Reamer and Jesse Downing. In today’s post, Reamer and Downing break down the five investing mistakes that they see repeated again and again throughout the history of investing.

Don’t forget to enter our book giveaway for a chance to win a free copy of Investment: A History! You can also learn more about the book and its authors on the Investment: A History webpage and Youtube channel!

Five Archetypal Investing Mistakes Have Bedeviled Investors Through the Ages

For thousands of years, investors have been making the same mistakes over and over. So true financial literacy should include not just understanding the history of investment successes, but also investing failures. Unfortunately, the recent history of the financial crisis and Great Recession indicate that many investors—even professionals—have not learned those lessons.

“Decade after decade, we see markets collapse and fortunes vanish for the same basic reasons,” says Norton Reamer, co-author of the new book, Investment: A History (Columbia Business School Publishing, February 2016). “Most of the time the root cause is not some complex technical error. It’s just some new flavor of poor judgment.” Reamer is the founder of United Asset Management and Asset Management Finance, and he is the former CEO of Putnam Investments. His co-author, Jesse Downing, is an investment professional in Boston.

Mistake #1: Not diversifying enough

“In plain language, diversification means not putting all your eggs in one basket,” says Reamer. “One of the biggest advancements of the last few hundred years has been the ability to truly diversify one’s investments. Diversification is what makes modern investment portfolios tick.”

As a historical reference point, Reamer points to 14th-century Italy, before there was such a concept as “too big to fail.” Two major Florentine banking houses, the Bardi and the Peruzzi, poured a great deal of their capital into the wartime exploits of England’s King Edward III. When Edward defaulted, both banks failed.

According to Reamer, the goal of diversification is to ensure that even if one asset in the portfolio is underperforming, other assets are still potentially delivering gains. Both the Bible and Shakespeare reference diversification, and despite how ancient the wisdom may be, it can be hard to follow. Many homeowners have a significant portion of their wealth tied up in a single asset, such as a home, company-granted stock, or even a single asset class. To weather the inevitable vagaries of the market, one must diversify. (more…)

Wednesday, February 17th, 2016

The Investment Challenge

Investment: A History

“This book is not about how to manage investments; rather, as a history of investment and the activities related to it over the centuries, it adds vital perspective to issues in investment management. It traces the development of investment from the earliest civilizations where agricultural land, lending, and trade activities were the economic foundation; to the creation of basic financial, collective, and charitable investment forms; and through the innovation of a vast array of specialized vehicles and funds extending into the twenty-first century.” — Norton Reamer and Jesse Downing

This week, our featured book is Investment: A History, by Norton Reamer and Jesse Downing. Today, we are happy to present an excerpt from “The Investment Challenge,” Reamer and Downing’s Introduction to Investment: A History.

Don’t forget to enter our book giveaway for a chance to win a free copy of Investment: A History! You can also learn more about the book and its authors on the Investment: A History webpage and Youtube channel!

Tuesday, February 16th, 2016

A conversation with Norton Reamer and Jesse Downing, authors of “Investment: A History”

Investment: A History

“[T]he basic principles of investing are timeless, even as the economic and social stakes grow higher. The challenge will be to harness all that increasing sophistication to further push the democratization of investment, and in that regard we are optimists.” — Norton Reamer and Jesse Downing

This week, our featured book is Investment: A History, by Norton Reamer and Jesse Downing. In the first post of the week’s feature, we are happy to present an interview with Reamer and Downing in which they discuss their goals for the book, important changes in the history of investing, and what the future holds for investors.

Don’t forget to enter our book giveaway for a chance to win a free copy of Investment: A History! You can also learn more about the book and its authors on the Investment: A History webpage and Youtube channel!

What will readers find in Investment: A History?

The book explains key elements in the long history of investment. Each chapter includes important stories and lessons that are intended to illustrate crucial dimensions of the investment world, as they have developed over the centuries. Our goal is to increase understanding of the investment practices and opportunities of today by understanding the history of investing.

In broad scope, what are the most important findings in the book?

Most people will be surprised to find out how remarkably uncomplicated it is to be a sensible investor, and in that regard we identified four basic investing principles. First, look at every investment as “real.” That is, when you invest, you own the underlying asset—e.g., with stocks you are buying a piece of a corporation. Don’t be distracted by the paper form of the investment. Understand the basics of whatever entity you are buying.

Second, it’s all about fundamental value, where “value” is determined by the value today of future cash flows that the investment may produce over its lifetime. Third, intelligent use of financial leverage is a legitimate tool for investors; in fact, it has helped build most of the great fortunes of history. Of course, excessive leverage can be extremely dangerous because all leverage will multiply returns—either positively or negatively. Finally, the most basic management skill is resource allocation: i.e., the effective allocation of capital and human resources.

Investing did not always exist in its current form. What were the precursors to the current investment landscape?

With ancient and pre-modern investment, we emphasize three areas: the basic investment vehicles of early history; the extreme inequality in the distribution of investment opportunity and benefit; and the surprising sophistication of some early investment vehicles, strategies, and purposes.

We believe that, to grasp the reality and significance of investment as a fundamental human activity, it’s necessary to begin in ancient times and understand the roles of agricultural land, lending and trade in the ancient world. At the same time, it is important to acknowledge that by today’s standards, it took an astonishing amount of wealth and power to even qualify to be an ‘investor.’ Finally, we felt it was essential to understand that in some respects—despite a lack of investment diversity and the absence of equality—investment even in those early days had features that were remarkably sophisticated and prescient. (more…)

Monday, February 15th, 2016

Book Giveaway! Investment: A History, by Norton Reamer and Jesse Downing

Investment: A History

“Norton Reamer and Jesse Downing have delivered a truly impressive history of investments and the investment-management business, starting from its earliest origins in the ancient world to its most recent and innovative forms, for example, the hedge funds, private-equity pools, and other forms of alternative investments in the twenty-first century. It is not only a complete history but a well-organized and analytical one, built with continual reference to the important principles of business and investing.” — Jay Light, dean emeritus, Harvard Business School

This week, our featured book is Investment: A History, by Norton Reamer and Jesse Downing. Throughout the week, we will be featuring content about the book and its authors on our blog as well as on our Twitter feed and our Facebook page. You can also learn more about the book and its authors on the Investment: A History webpage and Youtube channel!

We are also offering a FREE copy of Investment: A History. To enter our book giveaway, simply fill out the form below with your name and preferred mailing address. We will randomly select our winners on Friday, February 19th at 1:00 pm. Good luck, and spread the word!

Thursday, February 4th, 2016

Recipes for Cooked Books

Short Selling

“Investors can detect accounting issues by paying attention to unusual assumptions and changes in assumptions used in reporting financial statements…. Changes and anomalies in the assumptions can often point to early warning signs.” — Amit Kumar

This week, our featured book is Short Selling: Finding Uncommon Short Ideas, by Amit Kumar. In today’s post, Kumar lists and describes some of the ways one can tell a company is “cooking their books.”

Don’t forget to enter our book giveaway for a chance to win a free copy of Short Selling!

Wednesday, February 3rd, 2016

Due Diligence in Short Selling

Short Selling

“Although buying low and selling high usually works for long ideas, selling short based only on high valuation usually does not work as well. Investment theses for short ideas work well when a company faces clear issues with its business model, whereas high valuation only serves as icing on the cake.” — Amit Kumar

This week, our featured book is Short Selling: Finding Uncommon Short Ideas, by Amit Kumar. In today’s post, Kumar explains some basics of short selling, and examines the practice of selling short based only on high valuation.

Don’t forget to enter our book giveaway for a chance to win a free copy of Short Selling!

Tuesday, February 2nd, 2016

On Reading Short Selling

Short Selling

“Short selling is not for the faint of heart. While fortunes have been made shorting, many have also been lost. Shorting stocks is for the financially experienced and sophisticated investors with a strong stomach for losses.” — Amit Kumar

This week, our featured book is Short Selling: Finding Uncommon Short Ideas, by Amit Kumar. For our first post of the week, we have excerpted Kumar’s Preface, in which he offers a word of caution and explains how he hopes his book will be used.

Don’t forget to enter our book giveaway for a chance to win a free copy of Short Selling!