''If you think the UK isn''t corrupt, you haven''t looked hard enough ... This new and terrifying book follows a global current of dirty money, and the murders and kidnappings required to sustain it'' George Monbiot, Guardian ''When you pick this book up, you won''t be able to put it down'' Misha Glenny, author of McMafia ''Combines forensic investigative journalism with the narrative propulsion of a literary thriller. The result is a masterful, gripping read that is all the more disturbing because it''s true'' Nathan Filer, bestselling author of The Shock of the Fall ''The architects of our national security would do well to bring to their meetings a well-thumbed copy of Kleptopia ... Incendiary'' Edward Lucas, The Times In this real-life thriller packed with jaw-dropping revelations, award-winning investigative journalist Tom Burgis reveals a terrifying global web of corruption. Kleptopia follows the dirty money that is flooding the global economy, emboldening dictators and poisoning democracies. From the Kremlin to Beijing, Harare to Riyadh, Paris to the Trump White House, it shows how the thieves are uniting - and the terrible human cost. A body in a burned-out Audi. Workers riddled with bullets in the Kazakh desert. A rigged election in Zimbabwe. A British banker silenced and humiliated for trying to expose the truth about the City of London - the world''s piggy bank for blood money. Riveting, horrifying and written like fiction, this book shows that while we are looking the other way, all that we hold most dear is being stolen.
Taking account of both the defensive and the enterprising investor, outlines the principles of stock selection, explains simple portfolio policy, and offers advice on a range of strategies.
Bestselling author and veteran Wall Street Journal reporter Gregory Zuckerman answers the question investors have been asking for decades: How did Jim Simons do it? Jim Simons is the greatest money maker in modern financial history. His track record bests those of legendary investors including Warren Buffett, Peter Lynch, Ray Dalio, and George Soros. Yet Simons and his strategies are shrouded in mystery. Wall Street insiders have long craved a view into Simons's singular mind, as well as the definitive account of how his secretive hedge fund, Renaissance Technologies, came to dominate financial markets. Bestselling author and Wall Street Journal reporter Gregory Zuckerman delivers the goods. After a legendary career as a mathematician at MIT and Harvard, and a stint breaking Soviet code for the U.S. government, Simons set out to conquer financial markets with a radical approach. He hired mathematicians, physicists, and computer scientists, most of whom knew little about finance. Experts scoffed as Simons built Renaissance Technologies from a dreary Long Island strip mall. He amassed piles of data and developed algorithms to hunt for deeply hidden patterns in the numbers--patterns that reveal rules governing all markets. Simons and his colleagues became some of the richest individuals in the world and their data-driven approach launched a quantitative revolution on Wall Street. They also anticipated dramatic shifts in society. Eventually, governments, sports teams, hospitals, and businesses in almost every industry embraced Simons's methods. Simons and his team used their newfound wealth to upend society. Simons has become a major influence in scientific research, education, and politics, while senior executive Robert Mercer is more responsible than anyone else for Donald Trump's victorious presidential campaign. The Renaissance team's models didn't prepare executives for the ensuing backlash. The Man Who Solved the Market is the dramatic story of how Jim Simons and a group of unlikely mathematicians remade Wall Street and transformed the world.
SHORTLISTED FOR THE FINANCIAL TIMES AND MCKINSEY BUSINESS BOOK OF THE YEAR AWARD 2019 From one of the most important economic thinkers of our time, a brilliant and far-seeing analysis of the current populist backlash against globalization and how revitalising community can save liberal market democracy. Raghuram Rajan, author of the 2010 FT & Goldman-Sachs Book of the Year Fault Lines , has an unparalleled vantage point onto the social and economic consequences of globalization and their ultimate effect on politics and society. In The Third Pillar he offers up a magnificent big-picture framework for understanding how three key forces - the economy, society, and the state - interact, why things begin to break down, and how we can find our way back to a more secure and stable plane. The ''third pillar'' of the title is society. Economists all too often understand their field as the relationship between the market and government, and leave social issues for other people. That''s not just myopic, Rajan argues; it''s dangerous. All economics is actually socioeconomics - all markets are embedded in a web of human relations, values and norms. As he shows, throughout history, technological innovations have ripped the market out of old webs and led to violent backlashes, and to what we now call populism. Eventually, a new equilibrium is reached, but it can be ugly and messy, especially if done wrong. Right now, we''re doing it wrong. As markets scale up, government scales up with it, concentrating economic and political power in flourishing central hubs and leaving the periphery to decompose, figuratively and even literally. Instead, Rajan offers a way to rethink the relationship between the market and civil society and argues for a return to strengthening and empowering local communities as an antidote to growing despair and unrest. The Third Pillar is a masterpiece of explication, a book that will be a classic of its kind for its offering of a wise, authoritative and humane explanation of the forces that have wrought such a sea change in our lives. His ultimate argument that decision-making has to be watered at the grass roots or our democracy will continue to wither is sure to be both provocative and agenda-setting across the world.
*SELECTED AS A BOOK OF THE YEAR BY THE FINANCIAL TIMES* 'Hard-hitting, well written and informative' Martin Wolf, Financial Times Global finance is a system that works for the few and against the many.
We need finance - but when finance grows too big it becomes a curse. The City of London is the single biggest drain on our resources; it sucks talent out of every sphere, it siphons wealth and hoovers up government time. Yet to be 'competitive', we're told we must turn a blind eye to money-laundering and appease big business with tax cuts. We are told global finance is about wealth creation; the reality is wealth extraction.
Tracing the curse back through economic history, Shaxson uncovers how we got to this point. He exposes offshore tax havens; the uncontrolled growth of monopolies; the myths around the Celtic Tiger and its low corporate tax rate; the bizarre industry of wealth management; the destructive horrors of private equity; and the sinister 'Competitiveness Agenda'.
Nicholas Shaxson revealed the dark heart of tax havens long before the Panama and Paradise Papers. Now he tells the explosive story of how finance established a stranglehold on society and points us towards a way out.
This is a book that none of us can afford to ignore.
Why is the Berlin Brandenburg Airport ten years behind schedule and nearly four billion euros over budget? What possessed Kenya's government to spend a whopping $35 million on a chain link fence just six miles long? And how did a fraudster known as Fat Leonard use prostitutes and spa treatments to swindle the United States navy out of millions of dollars and a wealth of classified information? Organisations large and small spend up to 90. of their budgets on external suppliers of goods and services. Huge amounts of money flow between firms, yet most pay little attention to this element of their business and are unaware that they could save huge amounts of money - and boost profits - by simply spending that money in a better and more effective manner. All too often billions are wasted on large-scale projects and the damage caused by corruption, ineptitude and mismanaged buying is hidden from shareholders and the public. By turns an entertaining account of some of the worst procurement scams in history and also a resounding lesson in how not to operate, Bad Buying offers clear and practical advice on how to avoid embarrassing mistakes, minimise needless waste and make sound, strategic procurement decisions on your next initiative.
In this combined memoir and cultural commentary, Uwagba explores her own complicated relationship with money, exploring what her experiences say about the world around us. A deeply honest account of the ups and downs wrought by money, We Need To Talk About Money explores issues and dynamics that will be familiar to most. This is a book about toxic workplaces, and sexist bosses. About getting payrises, and not getting payrises. About class and privilege and racism and beauty standards. About shame and pride, compulsion and fear. In unpicking the shroud of secrecy surrounding money - together with our collective refusal to talk openly about it - this is a searing account that will uncover some shocking truths about our complex relationships with money.
A RINGSIDE SEAT ON SOME OF THE BIGGEST DEALS AND BIGGEST PERSONALITIES IN BUSINESS AND GLOBAL POLITICS. FTSE: THE INSIDE STORY is an account of how a small start-up created by the Financial Times and the London Stock Exchange launched in the mid 1980s to provide financial information, became a world leader and one of the UK's most trusted and famous brands. It chronicles how the FTSE 100 was born and details the ferocious dealmaking that followed over 35 years of market boom and bust. It provides a ringside seat on some of the biggest deals and biggest personalities in business and global politics. There have been behind-the-scenes rows with chief executives of some of the world's largest companies, political in-fighting, diplomatic incidents, and even controversy over a pioneering push into responsible investing that began life as a conversation with James Bond actor Roger Moore. FTSE is a modern British brand recognised the world over, like the Royal Family, the BBC or Sir Richard Branson's Virgin empire. They are just four letters on an electronic ticker tape, but FTSE has become a byword for money, power, influence and - crucially after numerous financial crises - trust. How this organisation, FTSE International, brought order to the financial system over several decades is a story of how capitalism globalised and a data revolution transformed the investment industry. It is a story of how a team of British innovators seized an opportunity to build a business that today leads its field and guides the fortunes of an astonishing $16 trillion of funds. It is a story that Mark Makepeace, as the founding Chief Executive of FTSE International, knows better than anybody.
''The UK''s pre-eminent chronicler of financial crime'' New Yorker ''Not just a readable, pacey account of an extraordinary individual and his quixotic quest ... but also a troubling expose of the fragility of our entire financial system ... I loved it'' Oliver Bullough, author of Moneyland For fans of Bad Blood and Flash Boys , the story of a trading prodigy who amassed $70 million from his childhood bedroom-until the US government accused him of helping trigger an unprecedented market collapse. On May 6, 2010, financial markets around the world tumbled simultaneously and without warning. In the span of five minutes, a trillion dollars of valuation was lost. The Flash Crash, as it became known, represented the fastest drop in market history. When share values rebounded less than half an hour later, experts around the globe were left perplexed. What had they just witnessed? Navinder Singh Sarao hardly seemed like a man who would shake the world''s financial markets to their core. Raised in a working-class neighbourhood in West London, Nav was a preternaturally gifted trader who played the markets like a computer game. By the age of thirty, he had left behind London''s trading arcades, working instead out of his childhood home. For years the money poured in. But when lightning-fast electronic traders infiltrated markets and started eating into his profits, Nav built a system of his own to fight back. It worked-until 2015, when the FBI arrived at his door. Depending on whom you ask, Sarao was a scourge, a symbol of a financial system run horribly amok, or a folk hero-an outsider who took on the tyranny of Wall Street and the high-frequency traders. A real-life financial thriller, Flash Crash uncovers the remarkable, behind-the-scenes narrative of a mystifying market crash, a globe-spanning investigation into international fraud, and the man at the centre of them both. LONGLISTED FOR THE FINANCIAL TIMES AND MCKINSEY BUSINESS BOOK OF THE YEAR AWARD 2020
Billionaire investors. If we think of them, it''s with a mixture of awe and suspicion. Clearly, they possess a kind of genius - the proverbial Midas Touch. But are the skills they possess transferable? And would we really want to be them? Do they have anything to teach us besides making money? In Richer, Wiser, Happier , award-winning journalist William Green has spent nearly twenty-five years interviewing these investing wizards and discovered that their talents expand well beyond the financial realm and into practical philosophy. Green ushers us into the lives of more than forty of the world''s super-investors, visiting them in their offices, vacation homes, and even their places of worship - all to share what they have to teach us. Green brings together the thinking of some of the best investors, from Warren Buffet to Howard Marks to John Templeton, and provides gems of insight that will enrich you not only financially but also professionally and personally.
At the age of 26, Warren Buffett founded Buffett Partnership Limited, which lasted from 1956 to 1970. During this time he wrote 33 letters to his small but growing group of partners. These letters chronicle his thoughts, approaches and reflections in the period immediately prior to his Berkshire Hathaway tenure - one that saw an unprecedented record of investing success. This early period was astonishing: in 1968 he beat the Dow by more than 50%. Because Buffett wanted to ensure that his partners understood his process, he wrote letters. In them, he sets out what he termed "ground rules" for investing that remain startlingly relevant today for every type of investor - from beginners to sophisticated pros. Warren Buffett's Ground Rules brings together, for the first time, and with Buffett's blessing, the key investment principles and teachings the letters reveal. Here you will find the basis for Buffett's contrarian diversification strategy, his almost religious celebration of compounding interest and his tactics for bettering market results by at least 10% annually. Quoting extensively and directly from Buffett, equity research expert Jeremy Miller introduces us to the timeless advice the letters contain, demonstrating a set of highly effective investment strategies that continue to resonate today.