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re: Economics Book Club (EBC): Book 4 Starts Aug 21 (The Smartest Guys in the Room)

Posted on 6/5/17 at 12:12 am to
Posted by RedStickBR
Member since Sep 2009
14577 posts
Posted on 6/5/17 at 12:12 am to
Great. This will come in handy. Thanks for setting it up. We can add all the books mentioned in this thread to our reading list.
Posted by Willie Stroker
Member since Sep 2008
12841 posts
Posted on 6/5/17 at 7:12 am to
quote:


I went ahead and made an email and a Goodreads account for this group. We can start to compile a list on Goodreads and if anyone wants to send any book recommendations or anything else they can email.

Email is tdbookclub225@gmail.com
pw geauxtigers1

Goodreads login is the same.


Can you describe the value added by Goodreads? I started using it many years ago on Facebook, but stopped after about a month after determining it was just another place to identify books I had read. Has it evolved into something more?
Posted by GregYoureMyBoyBlue
Member since Apr 2011
2960 posts
Posted on 6/5/17 at 7:31 am to
quote:

RickySauwce


There's not a silver bullet or a one-sized fits all answer to give you what you want. The best jobs in banking, PE, VC (institutional or corporate) typically are found in three ways: direct recruitment from top tier I-banking/consulting pools, recruiting from the top tier MBA schools, or localized MBA candidates for more geospecific firms. Corporate development/strategy departments are recruiting from the latter two.

Since you aren't really sure what you want to do, I'd suggest doing more research and soul searching on what you want to do/what you're passionate about. Then go and talk to people and network around your city or professional network to see if you can connect with people in that field. After you learn more about the businesses, be voracious about understanding the in's and out's and see what are the avenues to maximize your exposure to hiring managers in that field.

Case in point, I thought I wanted to do equity research when I worked at an investment bank, realized that CFA was a valuable designation, and took/passed level 1. I also realized in that time that I was more passionate about uncertainty, risk taking, and venture capital than in the public markets, so i dropped the CFA, decided to work part time at a number of different VC firms while going FT to grad school, and networked my arse off to get to the point where luck met perseverance and found the job I do now.

There's no substitute for getting out and talking to people. Go do that. Any single person's experience is going to be driven by whatever they did that ended up helping them achieve their goals, so you need aggregate a lot of feedback to help drive your decision.
This post was edited on 6/5/17 at 7:35 am
Posted by Azazello
Member since Sep 2011
3181 posts
Posted on 6/5/17 at 8:21 am to
Count me in. Current MBA student
Posted by blowmeauburn
Baton Rouge
Member since Sep 2006
7885 posts
Posted on 6/5/17 at 9:17 am to
Maybe a little to off subject but I downloaded Naked Statistics to my audible the other day and can't stop listening. It's a great intro to statistics but matches it with everyday examples and things we can relate to. Just an idea, no biggie if not.
Posted by ClampClampington
Nebraska
Member since Jun 2017
3963 posts
Posted on 6/5/17 at 9:27 am to
Count me in. Great idea! Back in high school I was always failing classes, skipping school, hated everything about academics. My junior year I took an economics class and it was the only material that ever naturally made sense to me. Loved every minute of it. That class made me decide to attempt further education.

Got my undergrad in agricultural economics back in 2014. Currently working on my Econ M.S. at Iowa State. Past 3 years (to the day on Thursday) have been working in ag and energy futures trading. Trade theory was always my greatest interest in college. Excited to get started on this!
Posted by ClampClampington
Nebraska
Member since Jun 2017
3963 posts
Posted on 6/5/17 at 9:31 am to
Sounds interesting. I'll have to check it out. ITunes U is a free part of ITunes that I have used a bunch. They have videotaped lectures from many top colleges on a variety of fields, economics included. All free. Awesome resource for those that want to get back in class
Posted by GeauxPack81
Member since Dec 2009
10479 posts
Posted on 6/5/17 at 9:47 am to
I am interested. I love economics and I love reading, but the few books I have read on the topic have been hard to get through. I might be on and off with this. May be a good chance to listen to an audio book, I have never done that before.

I graduated in finance and work in commercial banking.
Posted by RedStickBR
Member since Sep 2009
14577 posts
Posted on 6/5/17 at 10:03 am to
Welcome. We'll be having the vote soon.
Posted by RedStickBR
Member since Sep 2009
14577 posts
Posted on 6/5/17 at 10:04 am to
I think that's definitely within the fairway. Will add to the list of nominees.
Posted by Lsujacket66
Member since Dec 2010
4785 posts
Posted on 6/5/17 at 10:47 am to
quote:



Can you describe the value added by Goodreads? I started using it many years ago on Facebook, but stopped after about a month after determining it was just another place to identify books I had read. Has it evolved into something more?


just a good resource to list books you want to read, have read, and see what your friends are reading and reviews.
Posted by RedStickBR
Member since Sep 2009
14577 posts
Posted on 6/5/17 at 12:49 pm to
Alright all,

It looks like we have 19 participants, will be targeting about 5 hrs a week at an intermediate level, and have the following books to choose from (in alphabetical order):

1. Applied Economics: Thinking Beyond Stage One - Thomas Sowell - LINK

2. Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics - Henry Hazlitt - LINK

3. Intelligent Investor: The Definitive Book on Value Investing - Benjamin Graham - LINK

4. Naked Statistics: Stripping the Dread from the Data - Charles Wheelan - LINK

5. Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron - Bethany McLean and Peter Elkind - LINK

Go ahead and get your votes in. I vote for Economics in One Lesson. Majority vote wins.
This post was edited on 6/5/17 at 1:01 pm
Posted by Lsujacket66
Member since Dec 2010
4785 posts
Posted on 6/5/17 at 12:51 pm to
economics in one lesson
Posted by conservativewifeymom
Mid Atlantic
Member since Oct 2012
11984 posts
Posted on 6/5/17 at 1:02 pm to
I'm good with Economics in One Lesson.

Could we make the Sowell book the 2nd one to read?
Posted by zatetic
Member since Nov 2015
5677 posts
Posted on 6/5/17 at 1:03 pm to
Are you sure you want to bother with economics? Economic reality is currently made up by a small group of men printing money for nearly the whole world. Everything is so fake right now it seems ridiculous to try to learn that subject in this time period.

This is a five minute video everyone should watch if they haven't already.
Principles of economics, translated
https://youtu.be/5uZdr4dk5CQ

Posted by RickySauwce
BR
Member since Dec 2011
740 posts
Posted on 6/5/17 at 1:30 pm to
I'm fine with economics in one lesson.
Posted by GregYoureMyBoyBlue
Member since Apr 2011
2960 posts
Posted on 6/5/17 at 2:07 pm to
I vote applied economics. Can't let this be unanimous
Posted by Cap Crunch
Fire Alleva
Member since Dec 2010
54189 posts
Posted on 6/5/17 at 4:21 pm to
I'm interested. #4 gets my vote
Posted by RedStickBR
Member since Sep 2009
14577 posts
Posted on 6/5/17 at 5:12 pm to
We still have a lot who haven't voted, but based on responses so far, it looks like Applied Economics would be second after Economics in One Lesson. Based on the 5 hr per week target and the skimming of Economics in One Lesson that I've done, we should knock it out in 2-3 weeks, so you won't have to wait long until we get to Sowell!
Posted by bayoubengals88
LA
Member since Sep 2007
18862 posts
Posted on 6/5/17 at 5:22 pm to
quote:

RedStickBR
I'm a history teacher. I'm currently reading More Money than God. It's about the history of hedge funds. Does that count?

Ok, I see what's going on here. I vote for FIVE. Enron.
This post was edited on 6/5/17 at 5:24 pm
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