The Sages: Warren Buffett, George Soros, Paul Volcker, and the Maelstrom of Markets
Tags:Buffett, George, Maelstrom, Markets, Paul, Sages, Soros, Volcker, Warren; 28 downloads ; Comments: 5 Responses
The Sages: Warren Buffett, George Soros, Paul Volcker, and the Maelstrom of Markets
Author: Charles R. Morris
Publisher: PublicAffairs
Publication Date: 2009-06-08
ISBN-10: 1586487523
ISBN-13: 9781586487522
Hardcover: 224 Pages
Throughout the violent financial disruptions of the past several years, three men have stood out as beacons of judgment and wisdom: Warren Buffett, George Soros, and Paul Volcker. Though their experiences and styles vary—Buffett is the canny stock market investor; Soros is the reader of shifting global tides in trade and currencies; and Volcker is the regulator and governor, sheriff and clean-up crew—they have very much in common.
All three men have more than fifty years of deep involvement in markets. All are skeptical of Wall Street frenzies. They believe that markets tend to be right, but usually only over the medium term. They have seen too many cycles of herd-driven, emotion-riding booms and busts to make their views hostage to the sweeping and simplistic assumptions of “efficient-markets” models.
With the benefit of his own deep understanding of markets and finance, Morris brilliantly analyzes the records of these men, distilling their wisdom and experience—and argues for the importance of consistent values in navigating the treacherous terrain of today’s globalized world.
The Sages: Warren Buffett, George Soros, Paul Volcker, and the Maelstrom of Markets (Hardcover)
by Charles R. Morris
ISBN: 1586487523
Publisher: PublicAffairs
Price: USD 16.29
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Even Buffett Isn’t Perfect: What Y...
Even Buffett Isn't Perfect: What You Can--and Can't--Learn from the World's Greatest Investor by Vahan Janjigian Hardcover: 256 pages Publisher: Portfolio Hardcover (May 1, 2008) Language: English ISBN-10: 1591841968 ISBN-13: 978-1591841968 Description of Even Buffett Isn't Perfect: What You Can--and Can't--Learn from the World's Greatest ...Download
(1 votes, average: 5.00 out of 5)
Loading ...Tags:Buffett, Greatest, Investor; 34 downloads ; Comments: 10 Responses
This was a gift for my husband. He enjoyed it very much, and it arrived in a timely fashion. Thank you.
Rating: 5 / 5
[Reply]
The author has used the book to present his prejudices on economic policy.
The section on Soros was slow moving and certainly didn’t present any investment methods for the layman.
The section on Buffett was interesting but again no applicable investment advice if that’s what the reader is locking for.
Rating: 2 / 5
[Reply]
Morris speaks from a deep background in economic theory and analysis. His insightful recounting of both people and events in recent financial markets is provocative. He relates his subjects’ unique vision and interpretation of financial market cycles in an interesting and easy to understand way.
Rating: 5 / 5
[Reply]
Morris is one the earliest financial writers to tell the story of the current financial mess. “Sages” follows his “The Trillion Dollar Meltdown” in tracking and explainingn today economic turmoil. In Sages he tells how Buffet, Soros, and Volcker warned us years ago of the building financial bubble. His biography of the 3 men is interesting but his final chapter “economics, markets, and reality” is fascinating. It shows how wrong so many economist have been in there ability to forecast the economy and how poorly mathematical models perform in time of market turmoil. Human nature is what was left out of the equation.
The sages insight into human nature and history is the key. Snappy Sayings: wit & wisdom from the world’s greatest minds contains this same type of insight into human nature from some of the world’s greatest minds.
Read Morris’ book for insight into why economic forecasters are so often wrong. Read Snappy Sayings: wit & wisdom from the world’s greatest minds for witty insight into many aspects of human nature.
Rating: 5 / 5
[Reply]
This book gives us a short biography of three of the most successful financial figures of the last 20th and early 21st century: George Soros, Warren Buffet and Paul Volcker. The first two are billionaires, with a decades long run of success in the markets. The third was the Federal Reserve chief who, under Reagan, broke inflation and restored our economy to strength in the 1980s.
Except the book really is not about the men. The book is really about the economic crisis. Using the three men, their careers and their insights, as a narrative device, Morris gives us a quick and lucid overview of the economic ups and downs of the last thirty years.
The moral of the story is fairly straightforward. For our economy to succeed, we need to stick to creating value. America went badly wrong in the last ten years by letting itself be seduced by the promises of rapid wealth based on Wall Street tricks and financial flim-flam rather than actually producing goods and services that people want, for less money than the competiton produces them.
The three figures are very different. Soros darts in and out of the market, riding the ups and downs of market fashion like a surfer. He is successful, because he understands how volatile the market is and the forces, both rational and irrational, that move it. Buffett is the polar opposite of Soros. He looks for undervalued companies, with long-term value. He buys for long periods of time. What Soros and Buffett both have in common is not buying the lastest fashionable nonsense from Wall Street. Soros makes money off the fact that other idiots buy into fashion and so produce violent market swings; Buffett makes money by looking for real value, which fashion disdains. And Volcker is not a financer. He is a career public servant known for total integrity.
This is a very good book. The three figures all can see reality. By giving us their collective vision, Morris shows us, quickly and effectively, what is so wrong with the recent economic idiocies.
Rating: 5 / 5
[Reply]