Business Adventures by John Brooks - A 30-Minute Instaread Summary: Twelve Classic Tales from the World of Wall Street by Instaread SummariesPLEASE NOTE: This is a summary of the book and NOT the original book.
Business Adventures by John Brooks - A 30-Minute Instaread Summary: Twelve Classic Tales from the World of Wall Street
Inside this Instaread Summary:
• Overview of the entire book
• Introduction to the important people in the book
• Summary and analysis of all the chapters in the book
• Key Takeaways of the book
• A Readers Perspective
Preview of this summary:
The concept of the stock market was invented in Amsterdam in 1611, as chronicled in a book published in 1688 by stock trader Joseph de la Vega. His insights into trading remain remarkably relevant today. He coined the term “antiperistalsis” to describe when the market reverses course, then reverses course again. Even back then, de la Vega found that brokers were creative in trying to find reasons for why stocks behave the way they do.
The mini-stock market crash that took place on May 28, 1962, did not last long, but offers some fascinating insight into the way the market works. The causes of the crash, at the time the worst since 1929, remain somewhat elusive. One possibility was individual investors, particularly wealthy investors not connected to the securities business. However, it also appeared to be the large number of rural, female and foreign investors who had been playing the market with borrowed money and were forced to pay on margin calls. There were also problems related to the mechanical delay in recording and reporting trades via the ticker due to the sheer volume of transactions. Customers could not really know what the prices were when they tried to sell stocks. No matter the cause, the loss was large at more than $20 billion…
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It has recently emerged that America's two richest men share not only a fondness for bridge, but identical taste in literature. Both Bill Gates and Warren Buffett — according to an essay this week from Gates — count Business Adventures by John Brookes as their single favourite book about business. Why is this compendium of s New Yorker articles catnip for billionaires? The prose is superb: reading Brooks is a supreme pleasure. His writing turns eye-glazing topics eg, price-fixing scandals in the electronics market into rollicking narratives.
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John Brooks. The story of the Edsel is a mixture of tragedy and farce. The Edsel disaster remains difficult to fully explain.
First published in , Business Adventures is one of 56 books written by John Brooks, a writer for the New Yorker in the s and s. A business classic, the book teaches lessons about people — how they act, how brilliant, stupid, irrational can be. History can be seen repeating itself. He was known for his ability to give Wall Street trends, history and personalities a narrative flavor far beyond standard financial reportage. Alex Brooks, the author' son told Quartz of his late father "I think he was one of the first to consider business journalism as a sort of topic for just general popular readership,". The idea of telling business stories as just kind of entertaining pieces of reading was a real innovation. In the video Alex discusses his father's writing process and offers insights on what John would have to say about today's business world.
Business Adventures details 12 critical moments in American industry, but perhaps above all — it teaches lessons about people. We agree that the 12 case studies that comprise Business Adventures resist summary. Facts are a lot less compelling than the dictates of the lizard brain. Pay close attention to your market. Sometimes, the best solution is to scrap it.