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 the...

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 o...

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 Spitznagelwith one of the top returns on capital of the financial crisis, as we...

In 2005, Joel Greenblatt published a book that is already considered one of the classics of finance literature. In *The Little Book that Beats the Market—a New York Times bestseller with 300,000 copies in print—*Greenblatt explained how investors can outperform the popular market averages by simply and systematically applying a formula that seeks out good businesses when they are available at bargain prices. Now, with a new Introduction and Afterword for 2010, The Lit...

The author of the modern classics The Black Swan, Fooled by Randomness, and Antifragile, Nassim Nicholas Taleb expresses major ideas in ways you least expect in this collection of aphorisms and meditations—now expanded with fifty percent more material than the hardcover.The Bed of Procrustes takes its title from the Greek myth of a man who made his visitors fit his bed to perfection, either by stretching them or by cutting their limbs. It...

Howard Marks's The Most Important Thing distilled the investing insight of his celebrated client memos into a single volume and, for the first time, made his time-tested philosophy available to general readers. In this edition, Marks's wisdom is joined by the comments, insights, and counterpoints of four renowned investors and investment educators: Christopher C. Davis (Davis Funds), Joel Greenblatt (Gotham Capital), Paul Johnson (Nicusa Capital), and Seth A. Klarman (Baupost Grou...

The human brain has some capabilities that the brains of other animals lack. It is to these distinctive capabilities that our species owes its dominant position. Other animals have stronger muscles or sharper claws, but we have cleverer brains. If machine brains one day come to surpass human brains in general intelligence, then this new superintelligence could become very powerful. As the fate of the gorillas now depends more on us humans than on the gorillas themselves, so the fate of our...

**“Witty, compelling, and just plain fun to read . . ." —Evelyn Lamb, Scientific AmericanThe Freakonomics of math—a math-world superstar unveils the hidden beauty and logic of the world and puts its power in our hands**The math we learn in school can seem like a dull set of rules, laid down by the ancients and not to be questioned. In How Not to Be Wrong, Jordan Ellenberg shows us how terribly limiting this view is: Math isn’t confined to abstract...

“By far the best book on investing ever written.” — Warren BuffettThe classic text of Benjamin Graham’s seminal The Intelligent Investor has now been revised and annotated to update the timeless wisdom for today’s market conditions.The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of "value investing"—which shields investors from substantial error an...

" Business Adventures remains the best business book I've ever read." —Bill Gates, The Wall Street JournalWhat do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common? Each is an example of how an iconic company was defined by a particular moment of fame or notoriety; these notable and fascinating accounts are a...

NEW YORK TIMES BESTSELLER • The groundbreaking exploration of probability and uncertainty that explains how to make better predictions in a world drowning in data, from the nation’s foremost political forecaster—updated with insights into the pandemic, journalism today, and pollingOne of The Wall Street Journal’s Ten Best Works of Nonfiction of the Year“Could turn out to be one of the more momentous books of the de...

Mornings are a madcap time for many of us. We wake up in a haze—often after hitting snooze a few times. Then we rush around to get ready and out the door so we can officially start the day. Before we know it, hours have slipped by without us accomplishing anything beyond downing a cup of coffee, dashing off a few emails, and dishing with our coworkers around the water cooler. By the time the workday wraps up, we’re so exhausted and defeated that any motivation to accomplish something in th...