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“Project Management for Profit” by Knight, Thomas and Angus – a Book Review

There are many books for project management on the market nowadays, as this turns into a profession. So why, would you ask, would somebody bother to write one more? The answer is simple – because none is perfect.

This is not to say that “Project Management for Profit” is the perfect book! However, it covers an important existing gap in the market, namely the “get to the practical basics in PM”. “Project Management for Profit” talks about the practical aspects of managing a project under tight deadlines, with multiple stakeholders and quite a few problems. In other words, the book goes for project management as it happens in reality, not in the theory.Read More »“Project Management for Profit” by Knight, Thomas and Angus – a Book Review

“The Devil’s Derivatives” by Nicholas Dunbar – a Financial Book Review

the-devils-derivatives-by-dunbar-courtesy-review-wwwdoitinvestcom Well, this was a treat for me. The book was launched on July 12th in the US, and by a day later it landed on my desk, courtesy of the publishers (Harvard Business Review Press), who by a skillful marketing found out that I like such (financial management) books … and sent me this copy without any request from my side. Nice surprise.
I have read many books about the financial innovation and the crisis (at least 5 in the last year) – this should qualify me not as an expert, but at least as a knowledgeable person.
“The Devil’s Derivatives” is a book about both, so if you expect some stories about the history of the derivatives or a crash course on how to make money late in the night in front of your computer screen – call an expert. “The Devil’s Derivatives” rather illustrates the point of view of an outside historian – thus representing a relatively objective view on how the derivatives world exploded and then imploded in the last years.
“The Devil’s Derivatives” tells the most interesting financial story of our times – how the banks invented new financial products to make more money, how were the worldwide investors lured to buy them and how regulators were seduced by the siren song and adopted lax rules for the derivatives. It is a story of greed and deception, a story of smoke and mirrors in the heart of the world’s financial system.
Nicholas Dunbar is well placed to tell such a story. First of all, he is a well known financial journalist in the UK, and thus he followed the story step by step as it developed. Secondly, by his own account he lived in both London and New York and saw live the banking mentality. From the money splashing of the bonus system to the secrecy of the boardrooms, nothing is missed by “The Devil’s Derivatives”.
At last (but not at least), Dunbar is a physicist by education – thus the assertions that the derivatives are more complex that the quantum physics has finally found a worthy tester. He is actually drawing a very neat comparison between the two fields of science – with interesting results.Read More »“The Devil’s Derivatives” by Nicholas Dunbar – a Financial Book Review