Politicians, God bless their hearts, always try to appeal to the lowest common denominator. They try to protect us from evildoers by insisting on minimum-wage laws or rent controls or by threatening windfall taxes on oil companies. They paint themselves as heroes fighting for the little guy. All they are doing, however, is feeding on the economic illiteracy of the average Joe.
鉴于这一现实，应在高中和大学中阅读以下书籍：基本经济学：经济的常识指南托马斯站和A World of Wealth: How Capitalism Turns Profits into Progress由托马斯唐兰。另一本优秀的书是The Invisible Heart: An Economic Romance由罗素罗伯茨。不，我在这里没有柔软;事实上，我必须承认，这部小说的浪漫部分并没有吸引我的经文方面，但关于资本主义和自由市场的讨论值得诺贝尔奖获奖经济学家米尔顿弗里德曼。
Atlas Shrugged由Ayn Rand是一部小说，而不是经济的塔，但它比有史以来大多数经济学书籍完成了很多。它生动地说明了当资本主义的隐形手被“公平”和“富有同情心”的社会主义之手所取代时，经济发生了什么：经济崩溃。
Rand immigrated to the U.S. from Russia in 1926 at the age of 21 after her father’s business was seized by the Russian government, ostensibly for the greater good. I left Russia 66 years later, a decade after Rand died, and my family suffered a lot less than hers. However, we (as well as millions of other thinking Russians) also witnessed the ugly consequences of socialism.
在Atlas Shrugged那Rand defines her individualist philosophy. Individualism is not a politically correct term in our society, and one doesn’t make a lot of friends by advertising selfishness and greed. So call it anticollectivism, in which independence, self-reliance and individual pursuit of happiness are superior goals, as opposed to collectivism, in which the pursuit of communal and national goals is often undertaken at the expense of individual liberty.
根据詹妮弗伯恩斯，谁写了传记市场的女神：Ayn Rand和美国权利，作者在各政治周期中的受欢迎程度飙升，我们的政治制度的优点正在讨论。为了释放温斯顿丘吉尔，“资本主义是所有可能的经济体系中最糟糕的，除了所有其他可能的情况下。”我希望我们能够看到资本主义的替代制度 - 一种富有同情心的社会主义，通常为我们作为我们的消产系统的替代方案 - 只在页面中Atlas Shrugged。
兰特对艾伦格林斯潘的智力发展巨大影响了，在他成为美联储主席之前。随着格林斯潘写道动荡的时代：一个新世界的冒险：
Ayn Rand成为我生命中的稳定力量。我们没有长时间才能让我们参加思想会议 - 主要是我的思想会议 - 在五十年代和六十年代早期，我在每周在公寓聚会时变得常规。她是一个完全原始的思想家，急剧分析，强烈的强烈，高度原则，并对理性的最高价值观是最高价值。在这方面，我们的价值观一致 - 我们同意数学和知识分子严谨的重要性。
You may think Greenspan had a hand in today’s crisis. I know I do. He took interest rates down to incredibly low levels and kept them there for too long, causing the real estate bubble. He also did not think Wall Street needed regulation. But that doesn’t make动荡的时代任何少的读数。它不是用edpspeak写的。艾伦似乎先生，在他离开美联储之后，学会了如何以非常清晰和吸引人的方式使用英语。这不仅仅是另一个回忆录。这本书远远超出了这一点。它涵盖了美联储的工作，提供宏观经济和历史的课程，并将格林斯潘对美国政治的独特视角，作为在19年内的四名总统担任美国联邦董事长的内部人员。
在secular bull markets, on average, sell decisions are not as rewarding as hold decisions, as market valuations are expanding and even the second-rate dogs of the equity markets start looking like pedigreed cocker spaniels. Every investor is now a “long term” investor, and卖成为一个四个字母的单词。但作为一个长期investor is not about the longevity of your hold decisions; it’s an attitude. Holding a stock because you bought it is a fallacy; you should hold a stock only if its future risk-adjusted return warrants it.
当我们面对卖出决定时，情绪从不同的方向攻击，指出唐纳德卡西迪这是你卖的时候：如果它是一项亏损的投资，我们希望等待甚至打破。这是错误的态度。我们的购买价格和我们的销售决定不应该有关。另一方面，当涉及销售胜利者时，我们只想在顶部销售。再次，这是错误的态度：顶部只是在后智之上明显，当时通常为时已晚。
We should sell the stock when it reaches our price or valuation target, determined at the time of purchase. We are our biggest enemy when it comes to investing and, especially, selling. Cassidy, founder of the Retirement Investing Institute, has written这是你卖的时候解决这个问题。这本精彩的书的目标是重新校准你的思想，从你过去的决定中掠夺你的囚禁，让你摆脱买卖状态，让你进入买卖投资者。
适当的出售纪律使得伟大和平庸之间的差异甚至是最好的购买决策。专业人士可能希望跳过几章这是你卖的时候，但这对每个人来说都很重要，特别是在今天的环境中。
如果你只有几个月的生活，你会做什么，你会与他人分享什么？这是灵魂的以下两本书的主题：星期二与莫里由Mitch Besbom和The Last Lectureby Randy Pausch with Jeffrey Zaslow. In both books, terminally ill teachers share their life lessons with readers. Pausch, a computer science professor who, sadly, passed away a few years ago from pancreatic cancer at the age of 47, also gavethis great lecture on time management。这是his Last Lecture。
Another title I’ll add to the category of books for the soul is雪球：沃伦巴菲特和生命的业务by Alice Schroeder. This is an authorized biography of the Berkshire Hathaway chairman and CEO. I am not sure this is the best book to read if you want to learn to invest like Buffett, but it gives a fascinating view of his life. There are many great lessons we can learn from Buffett that go far beyond investing — for example, about honesty and treasuring one’s reputation. But I thought this book was important for a very different reason: It shows that Buffett is not a perfect human being and that we can also learn from the maestro by not repeating his mistakes. He achieved his unparalleled success in his business life at the expense of his personal life.
I find myself wanting to work 24/7. I bring my laptop home, or I start reading he华尔街日报on my iPad at the dinner table — my work life starts pushing out my personal life. This book made me realize that no professional success is worth a regret 20 years down the road that you didn’t spend enough time with your kids. Unfortunately, Buffett has that regret.