The money game adam smith review

He starts of rather light-heartedly, describing all the follies and personalities. Towards the middle of the book, the author-narrator grows a bit more restless and perhaps a bit bored with the trade.

Call it a midlife crisis, but instead of buying a motorcycle or a Porche, he makes an attempt to first seek a more lively thrill of trading cocoa futures and then tries to seek the truth, first through a conversation with a semi-mythological entity, called the Gnome of Zurich, and later through pursuit of redeeming the pure silver out of the national treasury of the United States of America, and then starts to muse only halfway lightheartedly about what is wealth all for and how base it all really is.

Yet, I am sure, this musing does not prevent him from enjoying a fine dinner and a home in the Hamptons. I did like the mysticism of the end of the book. If read like a novel, and not as a finance book, character development can be well traced here. First, entertainment of the game, trade. A logical development for an observant man. None of the questions are resolved at the end, so you will not get much other than entertainment from the book, and perhaps some motivation to read about the Godfather of it all, Lord Keynes.

To the young bucks of the trade, it will be a sensible reminder that whatever we through to be new and fresh, has all been done many times before. Only technology and decorations change, and perhaps multiple more layers of complexity are layered one on top of another through invention of derivatives, but the emotions not at all changed. Also, make note: money in the 60s was a lot easier to make.

This was apparently the handbook for white collar criminals and cheesy suburban guys who fancied themselves investment mavericks around 50 years ago. I have no idea if the advice was solid back then or not. Perhaps it helped a lot of people really leverage their pensions from Ford or GE, blah blah blah. My impression of this book in ordered via Amazon Prime's lending library, because even I know not to spend money on books about money is that it is a smarmy and overly precious handbook bogged down by hotshot anecdotes and references to historical figures of greater import than some asshole broker in the s.

Why on Earth is Amazon making this ashen turd available today, even if for free? Maybe it's too expensive to license any of the books by Warren Buffet. Anyway, here's all the practical money advice you will ever need: 1 Buy low and sell high 2 put Just kidding! Just don't flush your income down the toilet by leasing cars and you should be fine.

Also, be born rich, and don't read personal finance books designed to establish the author as a guru, like this one. Joseph D Foresi.

It brings to light in a humorous manner the psychological aspect of Wall Street. I found a number of the narratives amusing. There is certainly truth in sarcasm particularly the need to separate your identity from money.

If you look at the markets as a game, especially since these markets take on a mob mentality, then you are more likely to be able to remove yourself and very importantly your self worth from it. I would recommend the book as a light read.

Did not feel this was worth my time and did not live up to the hype. Retrieve credentials. Sign Up. Page Count: - Publisher: Random House. Please sign up to continue. Almost there! Reader Writer Industry Professional.

Send me weekly book recommendations and inside scoop. Rating details. More filters. Sort order. Start your review of The Money Game. Dec 24, Ben Peyton rated it it was amazing. Contrary to other reviews, I think this book is still very relevant. The specifics are out of date. Most of the businesses referenced are not around anymore but those are not the interesting part. The interesting part is the psychology behind the players. The stockbrokers, the investors, the speculators.

The book is more an analysis of the psychology of the people in these roles and what drives them. The main take away for me was that while most people thinking investing is about analytical, rat Contrary to other reviews, I think this book is still very relevant. The main take away for me was that while most people thinking investing is about analytical, rational decision making, in reality, most investors do not act in rational ways and psychology explains a lot of it.

Markets move in and out of cycles - hope, greed, fear - and depending on where you can see how people's psychology affects how they act. The actions of the investors from the s that this book covers can still be seen up to today. Investing is a game of managing one's emotions and projecting how other people will act. Buffett recommended this book in his s partnership letters. Not sure why. Jul 30, Patrick DiJusto rated it really liked it Shelves: The book is 52 years old, so much of the details are outdated.

That ship is now long since sailed, but the trepidations the author had in has been shown to be more than valid. However, some of the basic rules of stock market investing haven't changed since Indeed, they haven't changed since brokers met to buy and sell shares in stock holding companie The book is 52 years old, so much of the details are outdated.

Indeed, they haven't changed since brokers met to buy and sell shares in stock holding companies under the Buttonwood tree in lower Manhattan near what would become Wall Street.

That's what this book deals with in an informative and moderately humorous way. May 03, E. K rated it it was amazing. Great book which is still relevant today regarding speculators and the psychology of mass. Mar 20, Saeed rated it liked it. Jul 03, Alex Pal. This is an interesting book about the different kinds of "players" that you can find in the markets. PS: Adam Smith is a pseudonym. Nov 06, Vinayak Joshi rated it liked it Shelves: , economics. This would have been a nice book to read in s or 90s - not so relevant now.

Oct 24, Steve Hadfield rated it did not like it Shelves: capitalism , economics , finance , non-fiction. I didn't like this book, at all. This author worshipped at the alter of John Maynard Keynes' economic philosophies. It's his economic teachings that have most of the countries of the western world in their endless cycle of deficit spending. Then there were the depressing stories riddled throughout the book meant to teach us something, I'm sure.

Its about hr I cannot get back.