[PDF] The Dao Of Capital eBook

Author : Mark Spitznagel
Publisher : John Wiley & Sons
Page : 375 pages
File Size : 33,66 MB
Release : 2013-08-16
Category : Business & Economics
ISBN : 1118416678

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As today's preeminent doomsday investor Mark Spitznagel describes his Daoist and roundabout investment approach, “one gains by losing and loses by gaining.” This is Austrian Investing, an archetypal, counterintuitive, and proven approach, gleaned from the 150-year-old Austrian School of economics, that is both timeless and exceedingly timely. In The Dao of Capital, hedge fund manager and tail-hedging pioneer Mark Spitznagel—with one of the top returns on capital of the financial crisis, as well as over a career—takes us on a gripping, circuitous journey from the Chicago trading pits, over the coniferous boreal forests and canonical strategists from Warring States China to Napoleonic Europe to burgeoning industrial America, to the great economic thinkers of late 19th century Austria. We arrive at his central investment methodology of Austrian Investing, where victory comes not from waging the immediate decisive battle, but rather from the roundabout approach of seeking the intermediate positional advantage (what he calls shi), of aiming at the indirect means rather than directly at the ends. The monumental challenge is in seeing time differently, in a whole new intertemporal dimension, one that is so contrary to our wiring. Spitznagel is the first to condense the theories of Ludwig von Mises and his Austrian School of economics into a cohesive and—as Spitznagel has shown—highly effective investment methodology. From identifying the monetary distortions and non-randomness of stock market routs (Spitznagel's bread and butter) to scorned highly-productive assets, in Ron Paul's words from the foreword, Spitznagel “brings Austrian economics from the ivory tower to the investment portfolio.” The Dao of Capital provides a rare and accessible look through the lens of one of today's great investors to discover a profound harmony with the market process—a harmony that is so essential today.

Author : Mark Spitznagel
Publisher : John Wiley & Sons
Page : 375 pages
File Size : 49,4 MB
Release : 2013-09-03
Category : Business & Economics
ISBN : 111834703X

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As today's preeminent doomsday investor Mark Spitznagel describes his Daoist and roundabout investment approach, “one gains by losing and loses by gaining.” This is Austrian Investing, an archetypal, counterintuitive, and proven approach, gleaned from the 150-year-old Austrian School of economics, that is both timeless and exceedingly timely. In The Dao of Capital, hedge fund manager and tail-hedging pioneer Mark Spitznagel—with one of the top returns on capital of the financial crisis, as well as over a career—takes us on a gripping, circuitous journey from the Chicago trading pits, over the coniferous boreal forests and canonical strategists from Warring States China to Napoleonic Europe to burgeoning industrial America, to the great economic thinkers of late 19th century Austria. We arrive at his central investment methodology of Austrian Investing, where victory comes not from waging the immediate decisive battle, but rather from the roundabout approach of seeking the intermediate positional advantage (what he calls shi), of aiming at the indirect means rather than directly at the ends. The monumental challenge is in seeing time differently, in a whole new intertemporal dimension, one that is so contrary to our wiring. Spitznagel is the first to condense the theories of Ludwig von Mises and his Austrian School of economics into a cohesive and—as Spitznagel has shown—highly effective investment methodology. From identifying the monetary distortions and non-randomness of stock market routs (Spitznagel's bread and butter) to scorned highly-productive assets, in Ron Paul's words from the foreword, Spitznagel “brings Austrian economics from the ivory tower to the investment portfolio.” The Dao of Capital provides a rare and accessible look through the lens of one of today's great investors to discover a profound harmony with the market process—a harmony that is so essential today.

Author : Mark Spitznagel
Publisher : John Wiley & Sons
Page : 247 pages
File Size : 46,87 MB
Release : 2023-10-10
Category : Business & Economics
ISBN : 1394214855

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What is a safe haven? What role should they play in an investment portfolio? Do we use them only to seek shelter until the passing of financial storms? Or are they something more? Contrary to everything we know from modern financial theory, can higher returns actually come as a result of lowering risk? In Safe Haven, hedge fund manager Mark Spitznagel—one of the top practitioners of safe haven investing and portfolio risk mitigation in the world—answers these questions and more. Investors who heed the message in this book will never look at risk mitigation the same way again.

Author : Rahim Taghizadegan
Publisher :
Page : 366 pages
File Size : 11,74 MB
Release : 2015-11-16
Category : Business & Economics
ISBN : 9783902639332

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Insanity seems to rule the financial markets and many investors are driven by delusion and anxiety. May everything you thought you knew about investing be wrong? The Austrian School's approach provides the needed respite for investors caught in inflationary treadmills. Conventional investment experts often overlook economic developments which may become a hazard for mainstream investors. Instead, the Austrian School of Economics has proved itself as an independent approach beyond the interests of politicians and bankers. The financial system is shaking. This book presents new paths through the shaky grounds between the tectonic plates of inflation and deflation to both private and professional investors. "This book is a must-have for every responsible investor!" (Felix W. Zulauf, Investor) "I am grateful to the authors of this book for not only highlighting the fundamental principles of the Austrian School but also for showing how investors can make practical use of them. " (Dr. Marc Faber, Investor) "For the first time an extensive compendium has been published in which the theoretical foundations developed by the 'Austrians' have been made useful for the investor's practical needs. The authors develop a remarkable 'Austrian investment philosophy'." (Prof. Guido HUlsmann, University of Angers) "The Austrian School's perception helps us to see long-term patterns and opportunities that today are often hidden. [...] For the authors and their important work I hope for the widest possible audience of a bestseller." (Prince Philipp von und zu Liechtenstein, Chairman LGT Group)

Author : Caglar Keyder
Publisher : Rowman & Littlefield Publishers
Page : 209 pages
File Size : 19,98 MB
Release : 1999-09-01
Category : Political Science
ISBN : 1461637937

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This groundbreaking volume investigates the processes of globalization in Istanbul, one of the oldest and grandest of world cities. Explaining the course of the conflicts and the compromises involved in maintaining a precarious urbanity, this theoretically informed volume focuses on the fields of struggle ranging from politics to heritage, humor to music, public space to housing.

Author : Gerard Colby
Publisher : Open Road Media
Page : 727 pages
File Size : 10,5 MB
Release : 2014-09-16
Category : Biography & Autobiography
ISBN : 1453220887

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Award-winning journalist Gerard Colby takes readers behind the scenes of one of America’s most powerful and enduring corporations; now with a new introduction by the author Their name is everywhere. America’s wealthiest industrial family by far and a vast financial power, the Du Ponts, from their mansions in northern Delaware’s “Chateau Country,” have long been leaders in the relentless drive to turn the United States into a plutocracy. The Du Pont story in this country began in 1800. Éleuthère Irénée du Pont, official keeper of the gunpowder of corrupt King Louis XVI, fled from revolutionary France to America. Two years later he founded the gunpowder company that called itself “America’s armorer”—and that President Wilson’s secretary of war called a “species of outlaws” for war profiteering. Du Pont Dynasty introduces many colorful characters, including “General” Henry du Pont, who profited from the Civil War to build the Gunpowder Trust, one of the first corporate monopolies; Alfred I. du Pont, betrayed by his cousins and pushed out of the organization, landing in social exile as the powerful “Count of Florida”; the three brothers who expanded Du Pont’s control to General Motors, fought autoworkers’ right to unionize, and then launched a family tradition of waging campaigns to destroy FDR’s New Deal regulatory reforms; Governor Pete du Pont, who ran for president and backed Newt Gingrich’s 1994 Republican Revolution; and Irving S. Shapiro, the architect of Du Pont’s ongoing campaign to undermine effective environmental regulation. From plans to force President Roosevelt from office, to munitions sales to warlords and the rising Nazis, to Freon’s damage to the planet’s life-protecting ozone layer, to the manufacture of deadly gases and the covered-up poisoning of Du Pont workers, to the reputation the company earned for being the worst polluter of America’s air and water, the Du Pont reign has been dappled with scandal for centuries. Culled from years of painstaking research and interviews, this fully documented book unfolds like a novel. Laying bare the bitter feuds, power plays, smokescreens, and careless unaccountability that erupted in murder, Colby pulls back the curtain on a dynasty whose formidable influence continues to this day. Suppressed in myriad ways and the subject of the author’s landmark federal lawsuit, Du Pont Dynasty is an essential history of the United States.

Author : Dominic Janes
Publisher : Cambridge University Press
Page : 232 pages
File Size : 33,45 MB
Release : 1998-02-19
Category : Art
ISBN : 9780521594035

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From the conversion of the emperor Constantine in the early fourth century, vast sums of money were spent on the building and sumptuous decoration of churches. The resulting works of art contain many of the greatest monuments of late antique and early medieval society. But how did such expenditure fit with Christ's message of poverty and simplicity? In attempting to answer that question, this 1998 study employs theories on the use of metaphor to show how physical beauty could stand for spiritual excellence. As well as explaining the evolving attitudes to sanctity, decorum and display in Roman and medieval society, detailed analysis is made of case studies of Latin biblical exegesis and gold-ground mosaics so as to counterpoint the contemporary use of gold as a Christian image in art and text.

Author : Erika Brodnock
Publisher : Holloway, Inc.
Page : 543 pages
File Size : 41,55 MB
Release : 2020-11-11
Category : Business & Economics
ISBN : 1952120616

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Better Venture is a first-of-its-kind guide to diversity and inclusion in startups and venture capital—who funds, who gets funded, and how the industry can change. The industry’s lack of diversity and inclusion not only compromises moral standing—it means overlooking profitable businesses and talented founders. That costs hundreds of millions of dollars a year, and neglects ideas that could serve the needs of many more people. In this collection of interviews, stories, and research, we use the momentum that has been building in recent years to expand the conversation about DEI, venture capital, and the startup ecosystem, and to inspire more concrete action. Highlights: - 43 in-depth conversations with leading investors, entrepreneurs, and researchers, making it one of the most comprehensive and diverse sets of perspectives on the startup ecosystem ever assembled in one place. - An economic history of venture capital through a diversity lens. - On-the-ground stories from founders and VCs that explore ways to create a more diverse, inclusive, equitable, and profitable venture ecosystem. No blog post can give the deep understanding and vision needed to address the complexity of the topic. That’s why we came together to write this book and are bringing in so many voices to clarify the picture of what is and what could be. Over the course of two years of research and discussion with almost 100 experts, we set out to answer four questions: - Why has the industry been so slow to change? We map the economic origins and history of venture capital to understand how the economics of VC has contributed to the glacial pace of diversifying the industry. - What barriers are founders and investors facing now? We draw on contributions from investors, operators, founders, and journalists to help catalog the barriers for founders seeking funding, and for investors seeking entry and influence in the industry. - Can diversity really lead to higher returns? We bring in new research and data to help us understand how betting on underrepresented founders and investors is really the better venture. Why does diversifying the industry matter, and to whom? How is it linked to financial performance and better decision making? How will it improve innovation across industries? - What can be done for positive change? We discuss cost effective and evidence-based interventions, tools, and solutions that can help to make the VC and startup worlds more diverse and inclusive—and result in higher returns. We hope this book and the conversations it contains help fulfill the vision of a more diverse, inclusive, and profitable ecosystem. It’s time venture got better.

Author : Benoit B. Mandelbrot
Publisher : Profile Books
Page : 352 pages
File Size : 42,66 MB
Release : 2010-10-01
Category : Business & Economics
ISBN : 1847651550

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This international bestseller, which foreshadowed a market crash, explains why it could happen again if we don't act now. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf or static in a computer connection to a few simple mathematical properties. With his fractal tools, Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time and wild behaviour that makes them volatile, dangerous - and beautiful. In his models, the complex gyrations of the FTSE 100 and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.