Brooks mentions that Joseph de la Vega published, in 1688, a book about the first Dutch stock traders. Morgan’s famous answer when an acquaintance asked him what the stock market would do: “It will fluctuate.” Brooks then writes:Īpart from the economic advantages and disadvantages of stock exchanges – the advantage that they provide a free flow of capital to finance industrial expansion, for instance, and the disadvantage that they provide an all too convenient way for the unlucky, the imprudent, and the gullible to lose their money – their development has created a whole pattern of social behavior, complete with customs, language, and predictable responses to given events.īrooks explains that the pattern emerged fully at the first important stock exchange in 1611 in Amsterdam.
John Brooks is quite simply a terrific business writer.Įach chapter of the book is a separate business adventure. I’ve had the enormous pleasure of reading Business Adventures twice. In terms of its longevity, Business Adventures stands alongside Benjamin Graham’s The Intelligent Investor, the 1949 book that Warren says is the best book on investing that he has ever read. Brooks’s deeper insights about business are just as relevant today as they were back then. It’s certainly true that many of the particulars of business have changed. John Brooks is still my favorite business writer. Today, more than two decades after Warren lent it to me-and more than four decades after it was first published- Business Adventures remains the best business book I’ve ever read. I’ll send you my copy.” Gates wrote in 2014: Buffett immediately replied, “It’s Business Adventures, by John Brooks. In 1991, when Bill Gates met Warren Buffett, Gates asked him to recommend his favorite business book.
0 kommentar(er)
