book reviews

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Book Review: Crony Capitalism in America

Crony Capitalism in America: 2008–2012

According to this provocative book, the US economy is morphing into crony capitalism, a system in which business success is fostered by relationships between business and government. To gain a competitive edge or to limit competition, business interests lobby the government to tilt — rather than level — the playing field by granting their particular companies special favors. The end result is a system in which the few are enriched at the expense of the many. Read more


Book Review: In Bed with Wall Street

In Bed with Wall Street: The Conspiracy Crippling Our Global Economy

According to author Larry Doyle, the financial crisis of 2008–2009 was a failure of regulation and oversight, and he contends that the leaders of major institutions escaped retribution for irresponsible practices that helped cause the crisis. He calls for enhanced accountability and effectiveness in the regulatory arena. Read more

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Book Review: Modern Security Analysis

Modern Security Analysis: Understanding Wall Street Fundamentals

With a focus on value investing, this book is full of useful discussions of such topics as creditworthiness, market efficiency, diversification, and financial accounting. It is primarily aimed at investors interested less in trying to predict near-term earnings and the temporal movements of stock prices than in management’s ability to maximize the value of corporate assets. Read more

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Book Review: Inside the Yield Book: The Classic That Created the Science of Bond Analysis

Inside the Yield Book: The Classic That Created the Science of Bond Analysis

The third edition of Inside the Yield Book builds on the previous editions with valuable insights into duration targeting. The authors convey their mathematically elegant findings with the same clarity and accessibility that characterized the writing of Leibowitz and Homer more than 40 years ago, before abstruse formulas began to permeate fixed-income analysis. Read more

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