October 20, 2003

Department of Synchronicity

Kieran Healy picks up, reads, and recommends George Goodman's The Money Game:

Crooked Timber: International Monetary Fun: I picked up a copy of The Money Game over the weekend in a second-hand bookshop in Melbourne. It's a minor classic in the literature on the stock market, so naturally I hadn't heard of it until a few months ago when Daniel mentioned it in a comments thread. The book is thirty five years old and it shows. It's also very good. That shows, too...

By synchronicity, I just recommended it to one of my graduate students last week.

Posted by DeLong at October 20, 2003 08:51 PM | TrackBack

Comments

By synchronicity, i mention this book all the time to people. My parents belonged to a stock club in the '60s, and several of the members, including my parents, bought and enjoyed this book. I picked it up as a teenager and enjoyed it immensely without fully understanding it, and as i've reread it over the years, it has indeed earned the "minor classic" designation.

But be sure also to take a look at his second money book, SuperMoney, which in addition to the seminal account of goodman's "discovery" of warren buffett and a slightly over-wrought but still prescient essay on the changing face of work, has several pieces that offer remarkable parallels (when read retrospectively) between the tech stock cratering of the late '60s/early '70s and the dot-com (and related tech) collapse of the early '00s.

Posted by: howard on October 20, 2003 09:07 PM

likewise, I didn't realise how old it was until I saw gold at $35/oz, I picked up mine two weeks ago.

Posted by: big al on October 21, 2003 04:12 AM

All of which reminds me of the minor classic of all minor classics (IMHO, of cours): Where are the Customers' Yachts, by Fred Schwed, cartoons by Peter Arno. This book was written in the 30s; I read it in the 60s. It's wonderfully perceptive, beautifully written, precient, funny, and available 70 years later at Amazon. The story behind the title, at least, should be read by everyone.

Posted by: Jonathan Goldberg on October 21, 2003 07:09 AM

Minor FYI: The link for The Money Game seems to point to the one written by Adam Smith. Not George Goodman.

Posted by: clark on October 21, 2003 02:02 PM

Clark, perhaps you don't realize that "Adam Smith" is the pen name that George J.W. Goodman, novelist and mutual fund manager, selected when he began to write the essays that eventually became "The Money Game" for the then-new New York Magazine.

One of his novels, by the way, became a rather droll film about stock manipulation entitled The Wheeler Dealers, which is worth watching when it shows up on tv (i've never seen it in a video store, although that doesn't prove it's not available on video or DVD).

Jonathan, i agree that "Where are the Customer's Yachts" is another minor classic worth reading....

Posted by: howard on October 21, 2003 02:25 PM
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