The Wisdom of Finance: Discovering Humanity in the World of

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The Wisdom of Finance: Discovering Humanity in the World of Risk and Return

â€œEntertaining and informative. Desai takes us on a journey through the fundamentals of finance, from asset pricing to risk and risk management, via options, mergers, debt, and bankruptcy."- John Lanchester, The New Yorker

"A fascinating new perspective on modern finance," --Oliver Hart, 2016 Nobel Laureate in Economics

"Lucid, witty and delightfully erudite...From the French revolution to film noir, from the history of probability to Jane Austen and The Simpsons, thisÂ is an astonishing intellectual feast." --Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan

Longlisted for 2017 Financial Times/McKinsey Business Book of the YearÂ

A 2017 AMAZON PICK IN BUSINESS & LEADERSHIP

A WealthManagement.com BEST BUSINESS BOOK OF 2017

In 1688, essayist Josef de la Vega described finance as both â€œthe fairest and most deceitful business . . . the noblest and the most infamous in the world, the finest and most vulgar on earth.â€

The characterization of finance as deceitful, infamous, and vulgar still rings true today â€“ particularly in the wake of the 2008 financial crisis. But, what happened to the fairest, noblest, and finest profession that de la Vega saw?Â

De la Vega hit on an essential truth that has been forgotten: finance can be just as principled, life-affirming, and worthy as it can be fraught with questionable practices.Â Today, finance is shrouded in mystery for outsiders, while many insiders are uneasy with the disrepute of their profession.Â How can finance become more accessible and also recover its nobility?

Harvard Business School professor Mihir Desai, in his â€œlast lectureâ€ to the graduating Harvard MBA class of 2015, took up the cause of restoring humanity to finance. With incisive wit and irony, his lecture drew upon a rich knowledge of literature, film, history, and philosophy to explain the inner workings of finance in a manner that has never been seen before.

This book captures Desaiâ€™s lucid exploration of the ideas of finance as seen through the unusual prism of the humanities. Through this novel, creative approach, Desai shows that outsiders can access the underlying ideas easily and insiders can reacquaint themselves with the core humanity of their profession.

The mix of finance and the humanities creates unusual pairings: Jane Austen and Anthony Trollope are guides to risk management; Jeff Koons becomes an advocate of leverage; and Mel Brooksâ€™s The Producers teaches us about fiduciary responsibility. In Desaiâ€™s vision, the principles of finance also provide answers to critical questions in our lives. Among many surprising parallels, bankruptcy teaches us how to react to failure, the lessons of mergers apply to marriages, and the Capital Asset Pricing Model demonstrates the true value of relationships.
THE WISDOM OF FINANCE is a wholly unique book, offering a refreshing new perspective on one of the worldâ€™s most complex and misunderstood professions.Â Â Â

Country	USA
Author	Mihir A. Desai
Binding	Kindle Edition
EISBN	9780544911208
Format	Kindle eBook
Label	Houghton Mifflin Harcourt
Manufacturer	Houghton Mifflin Harcourt
NumberOfItems	1
NumberOfPages	178
PublicationDate	2017-05-23
Publisher	Houghton Mifflin Harcourt
ReleaseDate	2017-05-23
Studio	Houghton Mifflin Harcourt

The Wisdom of Finance: Discovering Humanity in the World of Risk and Return

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