Customer Reviews

Cowboy Ethics: What Wall Street Can Learn From The Code Of The West

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I wasn't sure what to expect when I ordered the book. Upon receiving it, I couldn't put it down. This book is a full dose of downhome cowboy common moral sense combined with stuningly beautiful western photography. The book was purchased as a gift for a real cowboy friend of mine. This man who made much of his living on the back of a horse opened the book, paged through it and put it down. Within a minute or so, he picked the book up and paged through it again. He was hooked! The traditional wisdom and astonishing photography makes this book something you want to give your children and best friends. If you have any doubts look to the end of the book at the photo of the mounted cowboy carrying a calf in a snowstorm. If that doesn't sell you, nothing will.

This is a winning combination - gorgeous photography coupled with pragmatic advice. After 25 years in the brokerage/investment banking business, I was pleased to find an author whose feet were planted firmly in the rich, fertile soil of responsibility, ethics and honesty. There are many temptations in the fast and furious world of stocks and bonds; James P. Owen provides a well-written and sensible path through the wilderness. The linkage between the cowboy and the broker is a straighter line than many would imagine. Owen leads directly to the heart of some of the most pressing issues facing financial services professionals today. This is an outstanding read; I highly recommend it.

A copy of Cowboy Ethics, What Wall Street Can Learn

from the Code of the West landed in my hands via a

friend. Taking an honored spot on my coffee table,

visitors and friends constantly pick up this book and

pour over it. Some comment on the unique subject

matter, others remark on the stunning visual design of

the book; all who read it are riveted.

For someone who loves spiritual, new age books and

newsmagazines, Cowboy Ethics appeals to me in its

universal truth of the ways of the Old West extending

a handshake to Wall Street; an industry ripe for the

opportunity of ethically-driven leadership. The idea

of imbuing the new frontier of finance with the

romantic, heroic integrity of the cowboy is not only

an exciting possibility, but incredibly sexy, as well.

Rich visuals and a compelling message make for a read

that will fill both your mind and your soul.

I've given this unusual book to many of my hard-to-shop-for

friends, who always love it.

Jim Owen is almost as good at explaining markets as he apparently was at riding them. In two well-timed earlier books, The Prudent Investor (Probus, 1990) and The Prudent Investor's Guide to Hedge Funds (John Wiley & Sons, 2000), the legendary hedge-fund rainmaker showed that he could describe financial investment choices comprehensively but without jargon. Owen came out of a prosperous early retirement to write Cowboy Ethics: What Wall Street Can Learn From the Code of the West, and stump for its basic message: Wall Street's problem is not too few laws but too little character. And he proposes a uniquely American solution--taking seriously the Code of the Old West, which is known to every American child--to a pervasive American problem: sordid business ethics. I only wish that he had expanded his discussion to connect the code of the Old West to the code of Western civilization that it represented on the frontier. But this little book (beautifully illustrated by photographer David R. Stoecklein, a real cowboy) exemplifies one of its 10 maxims: "Talk Less, Say More." I hope Jim Owen not only writes a sequel but starts a movement.-John D. Mueller, President, LBMC LLC, and director of the Economics and Ethics Program at the Ethics and Public Policy Center, Washington, D.C.

This is a great "coffee table" book, though it is in paperback. It is not meant to be read like a book, but to be flipped through time and time again. The photographs are outstanding; world famous. The "Cowboy Ethics" are simple, straight forward, and are meant to cause some thought. There are numerous quotes in the book from classic western authors and actors to back up the "ethics". Leave this book on top of a desk in any business office, and it will definitely leave the reader with some new thoughts as they head to the water cooler...

With all due respect, there's nothing wrong with the spirit or intent of this book. Its call for trust, fairness, and accountability is timely, especially after the abuse of all three of those virtues in the financial services industry helped trigger the worst recession in decades. The basis of its argument in plot lines and characters from Hollywood westerns is, however, questionable. While the author says he's steeped himself in the history of the Old West, there isn't much evidence of it besides a few quotes from men who have actually been cowboys: Teddy "Blue" Abbott, Will James, and John R. Erikson plus western folklorist J. Frank Dobie. The screenwriters who wrote the lines for John Wayne and Robert Duvall lack that level of credibility.

Owen first abstracts a code of the west from whatever he read and his viewing of westerns and then expresses it like 10 commandments, few of which lack anything like the clarity of the original 10 commandments. The principles they are meant to reflect are sometimes in conflict with each other, and sometimes open to debate. Principle #3, "Always finish what you start," sounds reasonable enough, but it contradicts some basic cowboy advice often quoted elsewhere, "When you've dug yourself into a hole, the first thing to do is to stop digging." More ambiguous is #7 "Ride for the brand," which calls for loyalty to the boss and the owners but doesn't leave much room for whistle-blowers, in which case, I guess, you apply #10 "Know where to draw the line."

Looking to the Old West as a basis for an inquiry into American character has had its precedents, and in a century-old novel, "The Virginian" by another Owen - Owen Wister - you will find the certainties and ambiguities of cowboy values and codes of behavior explored with greater depth and plausibility than you will find in this 15-minute coffee-table read. Wister knew the West from first hand experience. A modern-day writer steeped in cowboy history, Elmer Kelton ("The Day the Cowboys Quit"), does another fine job of it. Translating these values to the boardroom and the corner office is more complex than the author is able to convey. Googling on the author's company, Austin Capital Management, reveals unfortunate connections with Bernard Madoff as of this writing. Sounds like there might have been a bit more in-house emphasis on #10, "Know where to draw the line."

This book was loaned to me by a person engaged in overseeing ethical considerations in medical testing. Given my interest in ethics in the software industry, I found this book fascinating. I've ordered my own copy. James Owens has written a book that can be applied far beyond his target of the financial world. ALL PEOPLE of all nationalities and persuasions should read and embrace this book. As James says several times, it's easy to tell the difference between Right and Wrong. Embracing the ten principles, and especially "Do What Has to Be Done", can lead us to a much improved world.

This sumptuously illustrated work brilliantly presents the forgotten hero, the Cowboy, to fill a modern cultural void. It speaks directly to the American yearning for values. Sample chapter titles: "Live Each Day With Courage;" "Do What Has To Be Done;" "Be Tough, But Fair;" "Ride for the Brand;" "Remember That Some Things Aren't for Sale" set the stage for powerful brief narratives of honor and quiet heroism.

The Cowboy stands for integrity and for honor. The message of this book is simple. It is eloquent. It has power. I devoured it in under an hour and copied out key passages for my closest friend. The author, with whom I have had a modest professional relationship, provides Americans with a vocabulary to better address, and fulfill, their yearning to achieve honor in life.

Cowboy Ethics is a gem, and an important book.

This book was inspiring! Having spent two decades in the investment management industry, the author's call for a return to common-sense, ethical principles of behavior couldn't have come at a better time. If all of us would operate according to his 10-part Code of the West, our clients, our firms and our industry would be much better off. Plus, Mr. Owen's entertaining writing style and Mr. Stoecklein's breathtaking photographs made it an absolute pleasure to take in this very important message.

Extraordinary events bring extraordinary changes. Scandals in government, media, the stock market and business have plagued our society. Now is the time to bring back proper ethics.

With this in mind, veteran of Wall Street and author James P. Owen brought his experience and beliefs about right and wrong and the Cowboy Way to paper with the photographs of David R. Stoecklein and the creativity of graphic designer Nita Alvarez. The result is this extraordinary book, Cowboy Ethics. Its clear messages are stirring to me.

Read the meaning of the words. Absorb the emotion of the artwork. Let these pages speak to your heart and soul. Review these pages with respect. Read the Acknowledgements, as this product would be less without these individuals. Each has added their best to bring about this spectacular outcome.

This is a special book & we can all help inspire a better America with this "Cowboy Ethics" message in our daily business. Enjoy these pages and share the Code of the West.

Carter Casmier