Book Report: Cloudsplitter

I just finished Cloudsplitter by Russell Banks. It tells the story of abolitionist John Brown from the point of view of is son Owen. You can get salient links from the Wikipedia page. It's a monster book - 758 pages - that I was reading on and off for a couple months. I'm not sure I have a ton to say about it that isn't included here or here.

I liked it because it covered a historical subject that I had learned about from US History classes in high school and college but really paints the scene of how society worked and the motivations that (perhaps) could have been the cause of such an important piece of our history.

Book Report: Mind over Money

My most recent financial book was Mind over Money: Match Your Personality to a Winning Financial Strategy by John W. Schott. It's not exactly recent - published in 2000. Schott's advice lies somewhere between day traders and buy and holders - tailored to specific personality types. It was published before the recent wave of behavioral economics books (to wit: Mind over Money: Overcoming the Money Disorders That Threaten Our Financial Health, which I have not read but was published in late 2009.

I didn't really feel like I matched any of Schott's personality profiles but there were a couple of things I like. First a quote:

Wealth accrues from a pattern of generally right behavior, not from trying to extract the maximum profit out of each and every situation, since one never knows what the maximum might be.

Which I liken to my baseball analogy: it's better to hit singles and doubles, get men on base and move the runners rather than hit a home run at every at bat. The next part I liked was Appendix B: Net Present Value: A Calculation for Confident Buying. For awhile I've been looking for methods to calculate values of companies that is short of getting an MBA. This is a great 3 page start.

Book Report: The Girl Who Kicked the Hornet's Nest

The Girl Who Kicked the Hornet's Nest finale of Stieg Larsson's Millenium Trilogy and my 13th book of the year. A great book but bittersweet because of Larsson's premature death from a heart attack. Mostly the same characters as The Girl With the Dragon Tattoo and The Girl Who Played With Fire. Start reading now!

Book Report: The Girl Who Played with Fire

The Girl Who Played With Fire, book two of Stieg Larsson's Millenium Trilogy. I finished this book on a bus/train ride from San Luis Obispo to Union Station (Amtrak!). Then I took the FlyAway Shuttle from Union Station to LAX. Fun!


View Bus/Train Fun! in a larger map

Book Report: 9, 10, and 11

Reading my 9th book of 2010, Babbitt by Sinclair Lewis, was a taxing ordeal. It's a satire of American culture in the early 20th century but with everything happening now (hello income gap!) it was basically super depressing and made me read magazines for a couple months.

Fortunately I borrowed the hot novel The Girl With the Dragon Tattoo by Stieg Larsson from my mom and tore through it in a couple days. Very cool noirish story set in Sweden. It's the first in a trilogy so hopefully I can get to the other two pretty quickly. Unfortunately Steig died unexpectedly a couple years ago. (Also he was a socialist so watch out!)

To round out my latest trilogy I pulled The Perfect Storm by Sebastian Junger from my bookshelf which I probably 'borrowed' from my mom as well. Great piece of reporting/writing and of course the movie starts George Clooney so I'll probably watch that too.

Book Report: Siddhartha

I don't have much to talk about. I started reading Siddhartha, by Hermann Hesse, last year after I stole it from my mom. I remember reading parts of it in high school and it's a thought-provoking story. But my brain is full so all I have is this quote:

I have had many thoughts, but it would be difficult for me to tell you about them. But this is one thought that has impressed me, Govinda. Wisdom is not communicable. The wisdom which a wise man tries to communicate always sounds foolish. (p. 142)

Maybe that's why nobody in DC listens to Paul Krugman?

Book Report: The Virginian

My fourth book of 2010 was The Virginian, by Owen Wister (free ebook!). Self proclaimed "The Most Famous Western Novel Ever Written." The copy I had was published in 1970 but it was originally published in 1902. Accordingly the dialogue is a bit hard to follow. However this really is an excellent book. Wikipedia tells me that "the character is seen as the first real cowboy character that has set the standard for the cowboy character stereotype. The book is seen as one of the first great western novels about cowboys."

An instructive lesson was to do a cursory look at the old US history book (aka Wikipedia) to find out what was going on in the country. We had exited the gilded age and in the early 1890's suffered through a long depression (worst in the country at that time). Our president (McKinley) had just been assassinated and Teddy Roosevelt (the author's friend) had just been sworn in. A tumultuous time to say the least.

With that in mind I thought there were a number of interesting quotes that really resonated with both my personal beliefs and current events:

I have thought that matter of dress and speech should not carry with them so much distrust in our democracy. (p. 25)

I know a man that mostly wins at cyards. I know a man that mostly loses. He says it is his luck. All right. Call it his luck. I know a man that works hard and he's gettin' rich, and I know another that works hard and is gettin' poor. He says it is his luck. All right. Call it his luck. I looked around and I see folks movin' up or movin' down, winners or losers everywhere. All luck, of course. But since folks can be born that different in their luck, where's your equality? No, seh! call your failure luck, or call it laziness, wander around the words, prospect all yu' mind to, and yu'll come out the same old trail of inequaility." He paused for a moment and look at her. "Some holds four aces," he went on, "and some holds nothin', and some poor fello' gets the aces and no show to play 'em; but a man has got to prove himself my equal before I'll believe him." (p. 103)

Now cyards are only one o' the manifestations of poker in this hyeh world. One o' the shapes yu' fool with it in when the day's work is oveh. If a man is built like that Prince boy was built (and it's away down deep beyond brains), he'll play winnin' poker with whatever hand he's holdin' when the trouble begins. Maybe it will be a mean, triflin' army, or an empty six-shoter, or a lame hawss, or maybe just nothin' but his natural countenance. Most any old thing will do for a fello' like that Prince boy to play poker with. (p. 111)

"It's might hard to do what your neighbors ain't doin." (p. 137)

"Anthing a man's bread and butter depends on, he's going to care about." (p. 138)

"It is not praying nor preaching that has ever caught me and made me ashamed of myself, but one or two people I have knowed that never said a superior word to me. They thought more o' me than I deserved, and that made me behave better than I naturally wanted to." (p. 152)

"As for salvation, I have got this far; somebody," he swept an arm at the sunset and the mountains, "must have made all that, I know. But I know one more thing I would tell Him to His face: if I can't do nothing long enough and good enough to earn eternal happiness, I can't do nothing long enough and bad enough to be damned. I reckon He plays a square game with us if He plays at all, and I ain't bothering my haid about other worlds." (p. 157)

The latter half of the book deals more with how the plot unravels so unfortunately no more quotes that I wrote down. Until next book!

Book Report: Outliers

Everyone has heard of Outliers. If you haven't, you might actually be an Outlier. HEYO! Anyway, I was reading a post about becoming an expert, by Penelope Trunk. Penelope links to a couple posts. And although Penelope's post and links have more to do with the first part of Outliers (Opportunity) none of them discussed the book at all. And it would have been interesting if those articles explored the Legacy aspect the way Gladwell does.

Aaaaaaaaaanywho.......

The part about Outliers that was the least accessible to me was his quote from Matthew at the VERY beginning of the book:

Matthew 25:29 - "For unto everyone that hath shall be given, and he shall have abundance. But from him that hath not shall be taken away even that which he hath."

This quote did not make much sense to me so I asked my cousin if he could expound. Which he did with aplomb:

The verse comes at the end of a parable that Jesus tells called “the parable of the talents”. In brief, a master leaves 3 men in charge of a great deal of money (a ‘talent’ may be the equivalent of 20 years of wages, so in other words, a boat load of cash. This is important because it is not about ‘natural talents’.) (for a modern translation, read: this [sic]).

To one guy he leaves 5 talents, to the second 2 talents, and the third 1 talent. The first two dudes double the money, but the last guy takes the money and hides it in a hole. He’s worried that the master will be mad if he looses any, so when the master comes back, he gives all of the money back, down to the last cent.

Well, that pisses the master off, and the master takes the money and gives it to the guy who has done really well, leaving the the 3rd guy with nothing. Which leads to the verse in question.

Why is the master so upset? He got his money back. Well, technically the 3rd guy did ‘less than the least’. The ‘least’ he could have done was taken the money to the bank and collected interest. But he didn’t even do that. Instead he operated from a place of fear, and the explanation point for Jesus here is that that is the real sin. (side note: the end of the story talks about “throwing the 3rd guy out into the outer darkness”. Its tempting as modern readers to read that as “the third guy” or “people who fail” go to hell. Not the case. Jesus is saying that the fear itself needs to be cast out. But, this is getting off topic.)

Why it works for Gladwell: His book isn’t about people born extraordinary. Bill Gates wasn’t born a computer genius, he was born in a very specific window of time in history and had extraordinary access to technology at a critical age. BUT, he also worked. Hard. 10,000 hours. The first two guys in the story above take what they have, whatever it is, and work. Plain and simple. The third guy does not work. He doesn’t do anything.

The message I most take from Gladwell (and Jesus), is that it is the opportunity directly in front of us that matters. Not the pie in the sky what-ifs, but making the most of what you have each day. And, as ‘proven’ by the 10,000 hours theory, hard will will repay itself. Exactly like Jesus said it would.

Book Report: Bonfire of the Vanities

I just finished Tom Wolfe's Bonfire of the Vanities. It took me a couple weeks to get my Krugman post up but I wanted to get through this one is much faster, mostly because I've been reading the book off and on for a few months and I'm sick of it being in my life. Nevertheless, I'm still taking credit for one of my 26 books of 2010 though.

There are a couple reasons this book took so long: it's mammoth (almost 700 pages), the characters are very hard to identify with, and I just can't seem to get into Wolfe's writing style. There are a lot of similarities between the characters in Bonfire and the current mess on Wall Street, which if anything made me like the book less. It would have been better if we had left the Gordon Geckos in the 80's (or Vin Diesel in the Boiler Room?). I also have a dog-eared copy of The Right Stuff that I plan on finishing this year but for the same reason that I decided to read Bonfire: I just want it off my shelf. At least Right Stuff is about some cool historical shit, er, stuff.

Next....

Book Report: The Return of Depression Economics

I'm testing a new feature here at Nacho Lovers Anonymous, cataloging the books I read throughout 2010. A friend of mine made a resolution to read 25 books in 2010. I thought that was a good number. I actually like 26 better (a book every 2 weeks) but let's not quibble over details. So in addition to my previous resolutions (which, as it turns out, isn't such a great idea) let's add "read 26 books".

My first book of 2010 was The Return of Depression Economics and the Crisis of 2008 by Nobel Prize winning economist Paul Krugman. For those who have never heard of him, I apologize. For those who dislike him, I'm not sure I like you. And for those who know and like him this post will be relatively meaningless since I don't have anything of substance to add to any of his topics.

In addition to his work as an economist Paul is a columnist and blogger for the New York Times, with an article entitled Conscience of a Liberal (an interesting sidenote is that while his is very liberal and progressive, Times' policy does not allow him to endorse political candidates). I read the blog regularly and have read a couple of his other books. His writing is clear, concise, and persuasive. He makes the subject of economics extremely interesting (at least for this humble blogger), in addition to offering keen insights to other parts of the political spectrum (especially health care).

Here's a quick book review, another from the UK, and an interesting video of a talk he did recently about the book.