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Boom and Bust: Financial Cycles and Human Prosperity (Values and Capitalism) Paperback – December 16, 2010
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Provides some basics on financial cycles. (World Magazine)
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This is not the case with "Boom and Bust."
The beauty of this text is its length; Pollock does not include a lot of fluff, unrelated sidenotes, or useless equations. Rather, he cites previous historical examples in support of his thesis that the 2008 crisis was not "unique" but similar to others in the past (and future). At the same time, he explains key financial terms succinctly and effectively; potentially scary terms to non-business people such as "Loan to Value [LTV]," leverage and moral hazard are explained with examples. The quotes that he pulls from various market professionals -- past and present -- are excellent, providing a great historical context for the current problems in our financial system. Occasionally the book can be a little bit dry, but Pollock does a great job with holding your attention through some fundamentally boring concepts. In any event, there aren't many wasted words in "Boom and Bust" -- it's in-depth enough to be helpful, but not dense enough to be offputting.
At around 85 pages (not including the foreword/works cited), this is a great, concise explanation of many key aspects of our financial system. I'm confident that some of the warning signs discussed in this book will help me avoid some investing mistakes in the future. You can read the entire thing in around two hours; afterwards you'll wonder how you didn't understand the market before.Read more ›
Most Recent Customer Reviews
I was doing research. book was easily read and a great overview of American economy. I would highly recommend it.Published on July 15, 2013 by Matthew P. Glusco
Usually numbers scare me, especially large numbers accompanied by an array of economic terminology. I usually deactivate the systematic theological part of my brain when reading... Read morePublished on April 20, 2013 by Travis Thomas