An analysis of the investment approach of the world's top investors, showing how to achieve market-beating returns It is possible to beat the market. Taking this as a starting point, Excess Returns sets out to explore how exactly the most famous investors in the world have done it, year after year, sometimes by huge margins. Excess Returns is not a superficial survey of what investors have said about what they do. Rather, Frederik Vanhaverbeke applies a forensic analysis to hundreds of books, articles, letters and speeches made by dozens of top investors over the last century and synthesises his findings into a definitive blueprint of how exactly these investment legends have gone about their work. Among the legends whose work has been studied are Warren Buffett, Benjamin Graham, Anthony Bolton, Peter Lynch, Charles Munger, Joel Greenblatt, Seth Klarman, David Einhorn, Daniel Loeb, Lou Simpson, Prem Watsa and many more. Among the revealing insights, you will learn of the striking similarities in the craft of great investors, crucial subtleties in their methods that are ignored by many, and the unconscious errors investors commonly make and how these are counter to successful investing. Special attention is given to two often overlooked areas: effective investment philosophy and investment intelligence. The investing essentials covered include: - Finding bargain shares - Making a quantitative and qualitative business analysis - Valuation methods - Investing throughout the business cycle - Timing buy and sell decisions - And much, much more! Excess Returns is full of timeless and practical insights, presented in a unique style, to help investors focus on the most promising opportunities and lead the way to beating the market.
There are shelves of memoirs about overcoming the death of a parent, childhood abuse, rape, drug addiction, miscarriage, alcoholism, hustling, gangbanging, near-death injuries, drug dealing, prostitution, or homelessness. Cupcake Brown survived all these things before she’d even turned twenty. And that’s when things got interesting…. You have in your hands the strange, heart-wrenching, and exhilarating tale of a woman named Cupcake. It begins as the story of a girl orphaned twice over, once by the death of her mother and then again by a child welfare system that separated her from her stepfather and put her into the hands of an epically sadistic foster parent. But there comes a point in her preteen years—maybe it’s the night she first tries to run away and is exposed to drugs, alcohol, and sex all at once—when Cupcake’s story shifts from a tear-jerking tragedy to a dark comic blues opera. As Cupcake’s troubles grow, so do her voice and spirit. Her gut-punch sense of humor and eye for the absurd, along with her outsized will, carry her through a fateful series of events that could easily have left her dead. Young Cupcake learned to survive by turning tricks, downing hard liquor, partying like a rock star, and ingesting every drug she could find while hitchhiking up and down the California coast. She stumbled into gangbanging, drug dealing, hustling, prostitution, theft, and, eventually, the best scam of all: a series of 9-to-5 jobs. But Cupcake’s unlikely tour through the cubicle world was paralleled by a quickening descent into the nightmare of crack cocaine use, till she eventually found herself living behind a Dumpster. Astonishingly, she turned it around. With the help of a cobbled together family of eccentric fellow addicts and “angels”—a series of friends and strangers who came to her aid at pivotalmoments—she slowly transformed her life from the inside out. A Piece of Cake is unlike any memoir you’ll ever read. Moving and almost transgressive in its frankness, it is a relentlessly gripping tale of a resilient spirit who took on the worst of contem-porary urban life and survived it with a furious wit and unyielding determination. Cupcake Brown is a dynamic and utterly original storyteller who will guide you on the most satisfying, startlingly funny, and genuinely affecting tour through hell you’ll ever take. When it came time for me to talk, I wasn’t sure which parts of my past to tell, which to keep secret, and which to pretend never happened. Uncle Jr. had already seen the welts on my back, so he wasn’t too surprised when I told them about some of the physical abuse I endured at Diane’s. Everyone else hit the roof, except Daddy. He got really quiet and started balling and unballing his fists. I continued my update. Experience had taught me that adults have trouble accepting the idea of children having sex. I decided that from then on, that part of my life never happened. I picked up the story by telling them about Fly, the Gangstas, and getting shot. I was dying for a cigarette. So it seemed a good time to announce that I smoked cigarettes—and weed. After a moment Sam looked at me, smiled, and handed me one of her Marlboros. I preferred menthols, but beggars can’t be choosers. I kicked back, took a long drag, and closed my eyes. Daddy and Jr. were silent. They seemed a bit shocked and unsure about how to respond. “Well, Cup,” Jr. said, “it’s a little too late to be trying to raise you now. But those cigarettes will kill you. And weed will only lead you to stronger drugs.” He didn’t know how right he was. But for me, it was too late to be worrying about stronger drugs—the only worrying I did was whether I could find a connection to get some. So I just smiled, nodded, and took another hit off my cigarette. The eerie quiet returned. —from A Piece of Cake Also available as a Random House AudioBook and eBook.
Social media is changing the community. Several may speak up, but under such apparent freedom of expression, an undercurrent of conformity, obedience, self-censorship, and fear dominates. This is how tolerance turns into intolerance and political freedom into totalitarianism. Distinctive attitudes and individuality are replaced by group affiliation, where those who think differently are ostracized. We sense something disturbing: A community moving toward greater control. And a growing risk of politics with totalitarian features that, instead of fighting for freedom, wants to curtail it.
The story of the idealists, technologists, and opportunists fighting to bring cryptocurrency to the masses. In their short history, Bitcoin and other cryptocurrencies have gone through booms, busts, and internecine wars, recently reaching a market valuation of more than $2 trillion. The central promise of crypto endures—vast fortunes made from decentralized networks not controlled by any single entity and not yet regulated by many governments. The recent growth of crypto would have been all but impossible if not for a brilliant young man named Vitalik Buterin and his creation: Ethereum. In this book, Laura Shin takes readers inside the founding of this novel cryptocurrency network, which enabled users to launch their own new coins, thus creating a new crypto fever. She introduces readers to larger-than-life characters like Buterin, the Web3 wunderkind; his short-lived CEO, Charles Hoskinson; and Joe Lubin, a former Goldman Sachs VP who became one of crypto’s most well-known billionaires. Sparks fly as these outsized personalities fight for their piece of a seemingly limitless new business opportunity. This fascinating book shows the crypto market for what it really is: a deeply personal struggle to influence the coming revolution in money, culture, and power.
BLACK & WHITE VERSION Peercoin (PPC) is a decentralised cryptocurrency similar to Bitcoin. It was the first cryptocurrency to introduce a new form of timestamping (proof of stake) that allows users of the wallet to receive a 1% rate of return on their holdings per year. This book is a detailed history of the first year of Peercoin up to the 19th of August 2013 (the time at which the blockchain had been usable for one year by the general public).
Real-world advice on how to be invisible online from "the FBI's most wanted hacker" (Wired). Be online without leaving a trace. Your every step online is being tracked and stored, and your identity literally stolen. Big companies and big governments want to know and exploit what you do, and privacy is a luxury few can afford or understand. In this explosive yet practical book, Kevin Mitnick uses true-life stories to show exactly what is happening without your knowledge, teaching you "the art of invisibility" -- online and real-world tactics to protect you and your family, using easy step-by-step instructions. Reading this book, you will learn everything from password protection and smart Wi-Fi usage to advanced techniques designed to maximize your anonymity. Kevin Mitnick knows exactly how vulnerabilities can be exploited and just what to do to prevent that from happening. The world's most famous -- and formerly the US government's most wanted -- computer hacker, he has hacked into some of the country's most powerful and seemingly impenetrable agencies and companies, and at one point was on a three-year run from the FBI. Now Mitnick is reformed and widely regarded as the expert on the subject of computer security. Invisibility isn't just for superheroes; privacy is a power you deserve and need in the age of Big Brother and Big Data. "Who better than Mitnick -- internationally wanted hacker turned Fortune 500 security consultant -- to teach you how to keep your data safe?" --Esquire
The Art of War is a renowned ancient Chinese military treatise written by Sun Tzu, a military strategist and philosopher. Composed around the fifth century BC, it provides valuable insights into warfare and strategy. The book emphasizes the importance of careful planning, understanding the enemy, exploiting weaknesses, and employing tactics to achieve victory. It covers various aspects of warfare, including tactics, intelligence gathering, leadership, and the importance of adaptability. It continues to be studied and applied in various fields beyond the military, including business and politics. Strategy. Strength. Supreme success. * Insights into strategy and warfare. * Provides valuable insights into navigating dynamic and unpredictable environments in various domains. * Delves into the qualities of successful leaders. * Offers practical advice on how to gain advantages and outmanoeuvre opponents. * Emphasizes the importance of strategic thinking and planning.
What distinguishes the truly exceptional from the merely great? After five years of writing The Profile, Polina Marinova Pompliano has studied thousands of the most successful and interesting people in the world and examined how they reason their way through problems, unleash their creativity, and perform under extreme pressure. The highest performers don’t use tricks or hacks to achieve greatness. They use mental frameworks that fundamentally change the way they see the world. They’ve learned how to unlock their hidden genius in order to reach their full potential. This book will help you do the same. After learning from the world’s most successful people featured inside, you will have a mental toolkit to help you tackle thorny problems, navigate relationships, and use creativity and resilience in times of uncertainty.
NEW YORK TIMES BESTSELLER * MORE THAN ONE MILLION COPIES SOLD “A provocative read...There are few tomes that coherently map such broad economic histories as well as Mr. Dalio’s. Perhaps more unusually, Mr. Dalio has managed to identify metrics from that history that can be applied to understand today.” —Andrew Ross Sorkin, The New York Times From legendary investor Ray Dalio, author of the #1 New York Times bestseller Principles, who has spent half a century studying global economies and markets, Principles for Dealing with the Changing World Order examines history’s most turbulent economic and political periods to reveal why the times ahead will likely be radically different from those we’ve experienced in our lifetimes—and to offer practical advice on how to navigate them well. A few years ago, Ray Dalio noticed a confluence of political and economic conditions he hadn’t encountered before. They included huge debts and zero or near-zero interest rates that led to massive printing of money in the world’s three major reserve currencies; big political and social conflicts within countries, especially the US, due to the largest wealth, political, and values disparities in more than 100 years; and the rising of a world power (China) to challenge the existing world power (US) and the existing world order. The last time that this confluence occurred was between 1930 and 1945. This realization sent Dalio on a search for the repeating patterns and cause/effect relationships underlying all major changes in wealth and power over the last 500 years. In this remarkable and timely addition to his Principles series, Dalio brings readers along for his study of the major empires—including the Dutch, the British, and the American—putting into perspective the “Big Cycle” that has driven the successes and failures of all the world’s major countries throughout history. He reveals the timeless and universal forces behind these shifts and uses them to look into the future, offering practical principles for positioning oneself for what’s ahead.
Over 20 million copies sold! A perennial New York Times bestseller for over a decade! Falling in love is easy. Staying in love—that’s the challenge. How can you keep your relationship fresh and growing amid the demands, conflicts, and just plain boredom of everyday life? In the #1 New York Times international bestseller The 5 Love Languages®, you’ll discover the secret that has transformed millions of relationships worldwide. Whether your relationship is flourishing or failing, Dr. Gary Chapman’s proven approach to showing and receiving love will help you experience deeper and richer levels of intimacy with your partner—starting today. The 5 Love Languages® is as practical as it is insightful. Updated to reflect the complexities of relationships today, this new edition reveals intrinsic truths and applies relevant, actionable wisdom in ways that work. Includes the Love Language assessment so you can discover your love language and that of your loved one.
This is the first genuine etymological dictionary of Old Chinese written in any language. As such, it constitutes a milestone in research on the evolution of the Sinitic language group. Whereas previous studies have emphasized the structure of the Chinese characters, this pathbreaking dictionary places primary emphasis on the sounds and meanings of Sinitic roots. Based on more than three decades of intensive investigation in primary and secondary sources, this completely new dictionary places Old Chinese squarely within the Sino-Tibetan language family (including close consideration of numerous Tiberto-Burman languages), while paying due regard to other language families such as Austroasiatic, Miao-Yao (Hmong-Mien), and Kam-Tai. Designed for use by nonspecialists and specialists alike, the dictionary is highly accessible, being arranged in alphabetical order and possessed of numerous innovative lexicographical features. Each entry offers one or more possible etymologies as well as reconstructed pronunciations and other relevant data. Words that are morphologically related are grouped together into "word families" that attempt to make explicit the derivational or other etymological processes that relate them. The dictionary is preceded by a substantive and significant introduction that outlines the author’s views on the linguistic position of Chinese within Asia and details the phonological and morphological properties, to the degree they are known, of the earliest stages of the Chinese language and its ancestor. This introduction, because it both summarizes and synthesizes earlier work and makes several original contributions, functions as a useful reference work all on its own.