Roy Christopher’s Summer Reading List 2015 + Bonus Material

I have some book suggestions in Disinformation alumnus Roy Christopher’s Summer Reading List 2015.

 

The emergent theme in my list this year is: the wealth extraction strategies of oligarchical elites and how to Become them.

 

Here is some bonus material I wrote that you might find useful:

 

Lasse Heje Pedersen Efficiently Inefficient: How Smart Money Invests & Market Prices Are Determined (Princeton University Press, 2015). Lasse Heje Pederson is the John A. Paulson Professor of Finance and Alternative Investments at the New York University Stern School of Business. Perdersen’s “efficiently inefficient” theory of financial markets focuses on active investors who have a comparative advantage. This book examines six economically motivated investment styles and eight hedge fund strategies. It contains one of the best descriptions I have read of how active management works. Pedersen also interviews influential hedge fund managers and investment managers including James Chanos, Cliff Asness, George Soros, Myron Scholes, Ken Griffin, and John A. Paulson. For a history of hedge funds see Sebastian Mallaby’s More Money Than God: Hedge Funds and the Making of a New Elite (Bloomsbury, 2010).

 

Han Smit and Thras Moraitis Playing At Acquisitions: Behavioral Option Games (Princeton University Press, 2015). Han Smit is a Professor in the Faculty of Economics at the Erasmus University Rotterdam. Thras Moraitis was Group Head of Strategy and Corporate Affairs at Xstrata. Playing At Acquisitions offers a synthesis of three business strategy methodologies: behavioural economics, game theory, and real options. An in-depth case study on the company Xstrata is also provided. Smit and Moraitis provide a personal synthesis that will enable you to perceive your own cognitive biases, to understand others, and to make more effective decisions under uncertainty. For a conceptual understanding of business strategy see J.C. Spenders Business Strategy: Managing Uncertainty, Opportunity, and Enterprise (Oxford University Press, 2014).

 

Lauren A Rivera Pedigree: How Elite Students Get Elite Jobs (Princeton University Press, 2015). Lauren Rivera is Associate Professor of Management & Organizations at Northwestern University’s Kellogg School of Management. Pedigreefollows in the footsteps of Vilfredo Pareto and Gaetano Mosca in examining how the processes of elite reproduction and social stratification occur in elite firms who hire students from elite schools into entry-level jobs. Rivera uses interviews and participant observation to discover how employers use a range of filtering mechanisms to reproduce elites in a way that is reminiscent of ancestral heritage and cultural transmission. This book also offers novel insights on the sociological study of contemporary elites and elite circulation. For a micro-study on elites, non-elites and economic stratification see Robert D. Putnam’s Our Kids: The American Dream in Crisis (Simon & Schuster, 2015).

 

Karen Dawisha Putin’s Kleptocracy: Who Owns Russia? (Simon & Schuster, 2014). Karen Dawisha is the Director of the Havighurst Center for Russian and Post-Soviet Studies at Miami University. Putin’s Kleptocracy was originally under contract at Cambridge University Press before potential libel concerns led to Simon & Schuster publishing the book. Dawisha uses archival, internet, interview, and other sources to show how Putin rose to power and how he and a small oligarchical elite succeeded in extracting economic wealth from post-Soviet Russia. Dawisha’s research informed the PBS Frontline documentary Putin’s Way (13th January 2015). Putin’s success at wealth extraction can be compared with Thor Bjorgolfsson’s Billions to Bust – and Back (Profile Books 2014) and Bill Browder’s Red Notice (Simon & Schuster, 2015) in which self-styled ‘adventure capitalists’ and emerging market financiers were not so lucky. On Putin’s use of sociological propaganda to restructure post-Soviet Russia see Peter Pomerantsev’s Nothing Is True And Everything Is Possible (PublicAffairs, 2014) and Jason Stanley’s How Propaganda Works (Princeton University Press, 2015).

21st June 2013: Roy Christopher’s Summer Reading List, 2013

Collaborator Roy Christopher has released his annual Summer Reading List for 2013, with contributions from danah boyd, Janet Murray, Richard Kadrey, Howard Rheingold, Mark Amerika, Matthew Kirschenbaum, Gareth Branwyn, Peter Lunenfeld, RoyC, myself, and others.

 

My contribution this year is a mix of books by allies, PhD research, and trading system development.

 

This is turning into an annual tradition for me and a snapshot of evolving research interests. I also contributed to the 2012, 2011, 2010, 2008 and 2007 reading lists (I missed 2009).

5th June 2012: Roy Christopher’s 2012 Summer Reading List

Roy Christopher

 

Roy Christopher‘s annual Summer Reading List is a snapshot of “the salient texts of the zeitgeist.” RoyC’s 2012 list continues the tradition: rich insights from netizens, ethnographers, cultural luminaries, mentors and critics on the authors, ideas and frameworks that inform their work. An Edge or Iconoclasts-style dialogue/trialogue between some of these people would be very interesting to witness.

 

I spent a lot of the past year reading about Wall Street, writing draft zero of a political science PhD, and trading a small portfolio. My suggestions this year reflect this personal journey and are different to what I would normally contribute to RoyC’s list (and what other list contributors would probably read and sympathise with). There are books on geopolitical risk and salary negotiation, PhD texts on social science methods, and guides to investment, hedge funds, the visceral feel of trading, and institutional money management. Brenda Jubin’s awesome blog Reading The Markets informed some choices and Tadas Viskanta’s blog Abnormal Returns is now a daily visit. Hopefully, you’ll get a sense of how I approach and attempt to understand a knowledge domain on its own terms, even if some of the material is a very dry read.

 

The joys of this list include uncovering new things, and seeing things you are familiar with from a different vantage point. RoyC pointed out ethnographer and sociologist Tricia Wang‘s contribution to me: Brian Eno and Manual De Landa have also influenced me, and I will be checking out several of her banking and finance ethnographies. Likewise with RoyC, the cultural anthropologists Victor Turner and Arnold van Gennep are influences; I studied Aaron Wildavsky on risk; and I bought a secondhand copy of Anthony Wilden’s Systems and Structure from an old secondhand book shop in Melbourne.

 

I also participated in RoyC’s Summer Reading Lists for 2011, 2010, 2008, and 2007 (I missed 2009). You’ll see how my in-progress PhD project and other interests have evolved over the past five years. RoyC’s annual summer reading list now has a quality like Michael Apted‘s Up series: an unfolding, longitudinal journey through some interesting ideas of the early 21st century.