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New Books in Finance

Marshall Poe
New Books in Finance
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  • Stuart Hart, "Beyond Shareholder Primacy: Remaking Capitalism for a Sustainable Future" (Stanford Business Books, 2024)
    In Beyond Shareholder Primacy: Remaking Capitalism for a Sustainable Future (Stanford Business Books, 2024) Hart argues that the current Milton Friedman–style "shareholder primacy capitalism," as taught in business schools and embraced around the world, has become dangerous for society, the climate, and the planet. Moreover, he maintains, it's economically unnecessary. Yet there are many reasons for hope―from the history of capitalism itself. Hart holds that capitalism has reformed itself twice before and is poised for a third major reformation. Retelling the origin story of capitalism from the fifteenth century to the present, he argues that a radically sustainable, just capitalism is possible, and even likely. Hart goes on to describe what it will take to move beyond capitalism's present worship of "shareholder primacy," including corporate transformations to re-embed purpose and reforms to major economic institutions. A key requirement is eliminating the "externalities" (or collateral damage) of the current version of shareholder capitalism. Sustainable capitalism has to explicitly incorporate the needs of society and the planet, include a financial system that allows leaders to prioritize the planet, reorganize business schools around sustainable management thinking, and enable corporations not just to stop ignoring the damage they cause, but actually begin to create positive impact. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance
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  • Christopher F. Jones, "The Invention of Infinite Growth: How Economists Forgot About the Natural World" (Simon and Schuster, 2025)
    Most economists believe that growth is the surest path to better lives. This has proven to be one of humanity’s most powerful and dangerous ideas. It shapes policy across the globe, but it fatally undermines the natural ecosystems necessary to sustain human life. How did we get here and what might be next?In The Invention of Infinite Growth: How Economists Forgot About the Natural World (Simon and Schuster, 2025), environmental historian Christopher F. Jones takes us through two hundred and fifty years of economic thinking to examine the ideal of growth, its powerful influence, and the crippling burdens many decisions made in its name have placed on us all. Jones argues that the pursuit of growth has never reflected its costs, because economists downplay environmental degradation. What’s worse, skyrocketing inequality and diminishing improvements in most people’s well-being mean growth too often delivers too little for too many. Jones urges economists to engage more broadly with other ways of thinking, as well as with citizens and governments to recognize and slow infinite growth’s impact on the real world. Both accessible and eye-opening, The Invention of Infinite Growth offers hope for the future. Humans have not always believed that economic growth could or should continue, and so it is possible for us to change course. We can still create new ideas about how to promote environmental sustainability, human welfare, and even responsible growth, without killing the planet and ourselves. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance
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  • Joe Wiggins, "The Intelligent Fund Investor: Practical Steps for Better Results in Active and Passive Funds" (Harriman House, 2022)
    Investing in funds is not straightforward. We are faced with a countless range of options and constantly distracted by meaningless noise and turbulent markets. To make matters worse, our flawed beliefs and behavioural biases lead to repeated and costly mistakes, such as a damaging obsession with past performance and a dangerous attraction to thematic funds. There is a solution―a more intelligent way to invest in funds. In The Intelligent Fund Investor: Practical Steps for Better Results in Active and Passive Funds (Harriman House, 2022), experienced portfolio manager and behavioural finance expert Joe Wiggins brings simplicity and clarity to fund investing. Each chapter of this fascinating and highly readable book focuses on a vital element of investing in funds―exploring how and why investors can get it badly wrong, and providing direct, actionable steps for better results. Joe reveals: why we should avoid investing with star managers; how to decide between active and passive funds; why we should beware of smooth performance and captivating stories; why risk is far more than just volatility; the importance of a long time horizon; and much, much more. Using a combination of stories, empirical evidence and experience, Joe gives all fund investors―active and passive―what they need to reassess their beliefs, understand their biases, and make better investment decisions. John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the investment space called Kick the Dogma. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance
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  • Ethan A. Everett, "The Investment Philosophers: Financial Lessons from the Great Thinkers" (Columbia Business School, 2025)
    What do Warren Buffett and Friedrich Nietzsche have in common? Why does Baruch Spinoza’s understanding of irrational emotions help explain financial markets? How did Voltaire’s success in a bond lottery arbitrage shape his writing? Can David Hume teach an investor when to buck the consensus and when to heed it?Exploring these questions and many others, Ethan A. Everett reveals the surprising lessons we can learn about investing from major philosophers. Demystifying ideas and texts that can often seem intimidating or irrelevant, he shows how philosophical concepts can be fruitfully applied to financial markets. Everett shares how philosophers’ insights have informed his development as an investor, and he considers how great investors have embodied philosophical wisdom in their own endeavors.Ranging from the birth of modern securities markets in seventeenth-century Amsterdam to recent trends like meme stocks, this book shows why a philosophical perspective can prove invaluable to challenging common assumptions in finance. Thinkers like Spinoza or Baudrillard are sometimes envisioned as disembodied minds constructing opaque, self-enclosed theoretical systems, but Everett elegantly concretizes their teachings, brings them to bear on our lived experience of the world, and shows how they can help us better appreciate the joys and vicissitudes of the market. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance
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  • Allen B. Downey, "Probably Overthinking It: How to Use Data to Answer Questions, Avoid Statistical Traps, and Make Better Decisions" (U Chicago Press, 2023)
    Statistics are everywhere: in news reports, at the doctor's office, and in every sort of forecast, from the stock market to the weather. Blogger, teacher, and computer scientist Allen B. Downey knows well that people have an innate ability both to understand statistics and to be fooled by them. As he makes clear in this accessible introduction to statistical thinking, the stakes are big. Simple misunderstandings have led to incorrect medical prognoses, underestimated the likelihood of large earthquakes, hindered social justice efforts, and resulted in dubious policy decisions. There are right and wrong ways to look at numbers, and Downey will help you see which are which. Probably Overthinking It: How to Use Data to Answer Questions, Avoid Statistical Traps, and Make Better Decisions (University of Chicago Press, 2023) uses real data to delve into real examples with real consequences, drawing on cases from health campaigns, political movements, chess rankings, and more. He lays out common pitfalls--like the base rate fallacy, length-biased sampling, and Simpson's paradox--and shines a light on what we learn when we interpret data correctly, and what goes wrong when we don't. Using data visualizations instead of equations, he builds understanding from the basics to help you recognize errors, whether in your own thinking or in media reports. Even if you have never studied statistics--or if you have and forgot everything you learned--this book will offer new insight into the methods and measurements that help us understand the world. Allen B. Downey is a curriculum designer at the online learning company Brilliant and professor emeritus of computer science at Olin College. Gregory McNiff is a Managing Director in the New York office of the Blueshirt Group, an IR firm focused on technology. Greg holds an MBA from the University of Chicago Booth School of Business, an M. Litt. in Shakespeare Studies from the University of St. Andrews and a B.A. in Classical Languages from Columbia University. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance
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