Moneyball is an amazing multi-genre book that is changing the way that millions of people think about sports as well as other topics. The statistics used to evaluate baseball players were not an accurate portrayal of player value. When Bill James blew that wide open with his Baseball Abstract, most of baseball didn’t notice. Those who did shrugged.
Once Oakland A’s manager Billy Beane started winning against all odds by using sabermetrics as the basis for player selection, people finally started paying attention. Even then, it took a long time for baseball to come around.
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Our society increasingly relies on complex, tightly coupled systems that handle our healthcare, finances, travel, and more. While those systems can be more productive and theoretically safer, they have vulnerabilities, including the complexity in itself. Sometimes, the addition of more safety features can actually make something less safe by making it more complex and therefore more likely to allow for a mistake to be made. Continue reading “Book Review: Meltdown by Chris Clearfield”
Good to Great, which is sort of a prequel to Collins’s bestselling Built to Last, is a study of 11 established companies that suddenly broke out and outperformed the market in an unbelievable fashion. 11 comparison companies that remained stable in the same industry and environment are used in the study. Continue reading “Book Review: Good to Great”
In Save, Spend, Invest, Give, Daniel Pecaut shares his expertise on personal finance as the CEO of an investment firm for over 30 years. Pecaut is a value investor inspired by value gurus like Warren Buffett and John Templeton. However, this is not so much a value investing guide as it is an inspirational personal finance guide. Continue reading “Book Review: Save, Spend, Invest, Give”