Under Andy Grove’s leadership, Intel has become the world’s largest chip maker and one of the most admired companies in the world. In Only the Paranoid Survive, Grove reveals his strategy of focusing on a new way of measuring the nightmare moment every leader dreads—when massive change occurs and a company must, virtually overnight, adapt or fall by the wayside.
Grove calls such a moment a Strategic Inflection Point, which can be set off by almost anything: mega-competition, a change in regulations, or a seemingly modest change in technology. When a Strategic Inflection Point hits, the ordinary rules of business go out the window. Yet, managed right, a Strategic Inflection Point can be an opportunity to win in the marketplace and emerge stronger than ever.
Grove underscores his message by examining his own record of success and failure, including how he navigated the events of the Pentium flaw, which threatened Intel’s reputation in 1994, and how he has dealt with the explosions in growth of the Internet. The work of a lifetime, Only the Paranoid Survive is a classic of managerial and leadership skills.
The Currency Paperback edition of Only the Paranoid Survive includes a new chapter about the impact of strategic inflection points on individual careers—how to predict them and how to benefit from them.
Since its original publication nearly thirty years ago, Getting to Yes has helped millions of people learn a better way to negotiate. One of the primary business texts of the modern era, it is based on the work of the Harvard Negotiation Project, a group that deals with all levels of negotiation and conflict resolution. *
Getting to Yes* offers a proven, step-by-step strategy for coming to mutually acceptable agreements in every sort of conflict. Thoroughly updated and revised, it offers readers a straight-forward, universally applicable method for negotiating personal and professional disputes without getting angry-or getting taken.
The true story behind the rise of a tyrannical genius, how he transformed an industry, and why everyone is out to get him.In this fascinating exposé, two investigative reporters trace the hugely successful career of Microsoft founder Bill Gates. Part entrepreneur, part enfant terrible, Gates has become the most powerful — and feared — player in the computer industry, and arguably the richest man in America. In Hard Drive, investigative reporters Wallace and Erickson follow Gates from his days as an unkempt thirteen-year-old computer hacker to his present-day status as a ruthless billionaire CEO. More than simply a “revenge of the nerds” story though, this is a balanced analysis of a business triumph, and a stunningly driven personality.
* * *
At the Wesco Annual Meeting (June 30 1993), Munger said :”I think Bill Gates’ biography, is a very useful book. You really get a feeling for what it took to write and sell software in the software revolution.”
A number-one bestseller from coast to coast, Den of Thieves tells, in masterfully reported detail, the full story of the insider-trading scandal that nearly destroyed Wall Street, the men who pulled it off, and the chase that finally brought them to justice. Pulitzer Prize winner James B. Stewart shows for the first time how four of the biggest names on Wall Street — Michael Milken, Ivan Boesky, Martin Siegel, and Dennis Levine — created the greatest insider-trading ring in financial history and almost walked away with billions, until a team of downtrodden detectives triumphed over some of America’s most expensive lawyers to bring this powerful quartet to justice. Based on secret grand jury transcripts, interviews, and actual trading records, and containing explosive new revelations about Michael Milken and Ivan Boesky written especially for this paperback edition, Den of Thieves weaves all the facts into an unforgettable narrative — a portrait of human nature, big business, and crime of unparalleled proportions.
Recommended by Charlie Munger @ the 1992 Berkshire Hathaway Annual Meeting
A book that stormed both the bestseller list and the public imagination, a book that created a genre of its own, and a book that gets at the heart of Wall Street and the ’80s culture it helped define, Barbarians at the Gate has emerged twenty years after the tumultuous deal it so brilliantly recounts as a modern classic—a masterpiece of investigatory journalism and a rollicking book of corporate derring-do and financial swordsmanship.
The fight to control RJR Nabisco during October and November of 1988 was more than just the largest takeover in Wall Street history. Marked by brazen displays of ego not seen in American business for decades, it became the high point of a new gilded age and its repercussions are still being felt. The tale remains the ultimate story of greed and glory—a story and a cast of characters that determined the course of global business and redefined how deals would be done and fortunes made in the decades to come.
Barbarians at the Gate is the gripping account of these two frenzied months, of deal makers and publicity flaks, of an old-line industrial powerhouse (home of such familiar products a Oreos and Camels) that became the victim of the ruthless and rapacious style of finance in the 1980s. As reporters for The Wall Street Journal, Burrough and Helyar had extensive access to all the characters in this drama. They take the reader behind the scenes at strategy meetings and society dinners, into boardrooms and bedrooms, providing an unprecedentedly detailed look at how financial operations at the highest levels are conducted but also a richly textured social history of wealth at the twilight of the Reagan era.
At the center of the huge power struggle is RJR Nabisco’s president, the high-living Ross Johnson. It’s his secret plan to buy out the company that sets the frenzy in motion, attracting the country’s leading takeover players: Henry Kravis, the legendary leveraged-buyout king whose entry into the fray sets off an acquisitive commotion; Peter Cohen, CEO of Shearson Lehman Hutton and Johnson’s partner, who needs a victory to propel his company to an unchallenged leadership in the lucrative mergers and acquisitions field; the fiercely independent Ted Forstmann, motivated as much by honor as by his rage at the corruption he sees taking over the business he cherishes; Jim Maher and his ragtag team, struggling to regain credibility for the decimated ranks at First Boston; and an army of desperate bankers, lawyers, and accountants, all drawn inexorably to the greatest prize of their careers—and one of the greatest prizes in the history of American business.
Written with the bravado of a novel and researched with the diligence of a sweeping cultural history, Barbarians at the Gate is present at the front line of every battle of the campaign. Here is the unforgettable story of that takeover in all its brutality. In a new afterword specially commissioned for the story’s 20th anniversary, Burrough and Helyar return to visit the heroes and villains of this epic story, tracing the fallout of the deal, charting the subsequent success and failure of those involved, and addressing the incredible impact this story—and the book itself—made on the world.
* 1992 Berkshire Hathaway Annual Meeting
This book tackles the complexity of both science and religion. It is an easy read that is also witty and can be read in one sitting.
The definitive biography of an industrial genius, philanthropist, and enigma.
*2003 WESCO Annual Meeting
FIASCO is the shocking story of one man’s education in the jungles of Wall Street. As a young derivatives salesman at Morgan Stanley, Frank Partnoy learned to buy and sell billions of dollars worth of securities that were so complex many traders themselves didn’t understand them. In his behind-the-scenes look at the trading floor and the offices of one of the world’s top investment firms, Partnoy recounts the macho attitudes and fiercely competitive ploys of his office mates. And he takes us to the annual drunken skeet-shooting competition, FIASCO, where he and his colleagues sharpen the killer instincts they are encouraged to use against their competitiors, their clients, and each other.
FIASCO is the first book to take on the derivatves trading industry—the most highly charged and risky sector of the stock market. More importantly, it is a blistering indictment of the largely unregulated market in derivatives and serves as a warning to unwary investors about real fiascos, which have cost billions of dollars.
Munger says “Read the book “F.I.A.S.C.O.”, by law professor and former derivatives trader Frank Partnoy, an insider account of depravity in derivative trading at one of the biggest and best regarded Wall Street firms. The book will turn your stomach.”
Over the past two decades, no field of scientific inquiry has had a more striking impact across a wide array of disciplines–from biology to physics, computing to meteorology–than that known as chaos and complexity, the study of complex systems. Now astrophysicist John Gribbin draws on his expertise to explore, in prose that communicates not only the wonder but the substance of cutting-edge science, the principles behind chaos and complexity. He reveals the remarkable ways these two revolutionary theories have been applied over the last twenty years to explain all sorts of phenomena–from weather patterns to mass extinctions.
Grounding these paradigm-shifting ideas in their historical context, Gribbin also traces their development from Newton to Darwin to Lorenz, Prigogine, and Lovelock, demonstrating how–far from overturning all that has gone before–chaos and complexity are the triumphant extensions of simple scientific laws. Ultimately, Gribbin illustrates how chaos and complexity permeate the universe on every scale, governing the evolution of life and galaxies alike.
*2004 Berkshire Hathaway Annual Meeting.
From an award-winning New York Times reporter comes the full, mind-boggling story of the lies, crimes, and ineptitude behind the spectacular scandal that imperiled a presidency, destroyed a marketplace, and changed Washington and Wall Street forever …
The Nurture Assumption tackles the biggest mystery in all of psychology: What makes people differ so much in personality and behavior? It can’t just be “nature and nurture,” because even identical twins who grow up together—same genes, same parents—have different personalities. And if psychologists can’t explain why identical twins are different, they also can’t explain why each of us differs from everyone else. Why no two people are alike.
Harris turns out to be well suited for the role of detective—it isn’t easy to pull the wool over her eyes. She rounds up the usual suspects and shows why none of the currently popular explanations for human differences—birth order effects, for example, or interactions between genes and environment—can be the perpetrator she is looking for. None of these theories can solve the mystery of human individuality.
The search for clues carries Harris into some fascinating byways of science. The evidence she examines ranges from classic experiments in social psychology to cutting-edge research in neuroscience. She looks at studies of twins, research on autistic children, observations of chimpanzees, birds, and even ants.
Her solution is a startlingly original one: the first completely new theory of personality since Freud’s. Based on a principle of evolutionary psychology—the idea that the human mind is a toolbox of special-purpose devices—Harris’s theory explains how attributes we all have in common can make us different.
This is the story of a scientific quest, but it is also the personal story of a courageous and innovative woman who refused to be satisfied with “what everyone knows is true.”
In 1956 two Bell Labs scientists discovered the scientific formula for getting rich. One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein’s. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory—the basis of computers and the Internet—to the problem of making as much money as possible, as fast as possible.
Shannon and MIT mathematician Edward O. Thorp took the “Kelly formula” to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenonally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett’s rate of return. Fortune’s Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider’s edge.
Shannon believed it was possible for a smart investor to beat the market—and Fortune’s Formula will convince you that he was right.
*Recommended by Charlie Munger - 2006 WESCO Annual Meeting
If science has the equivalent of a Bloomsbury group, it is the five men born at the turn of the twentieth century in Budapest: Theodore von Kï¿½rmï¿½n, Leo Szilard, Eugene Wigner, John von Neumann, and Edward Teller. From Hungary to Germany to the United States, they remained friends and continued to work together and influence each other throughout their lives. As a result, their work was integral to some of the most important scientific and political developments of the twentieth century.
Hargittai tells the story of this remarkable group: Wigner won a Nobel Prize in theoretical physics; Szilard was the first to see that a chain reaction based on neutrons was possible, initiated the Manhattan Project, but left physics to try to restrict nuclear arms; von Neumann could solve difficult problems in his head and developed the modern computer for more complex problems; von Kï¿½rmï¿½n became the first director of NASA’s Jet Propulsion Laboratory, providing the scientific basis for the U.S. Air Force; and Teller was the father of the hydrogen bomb, whose name is now synonymous with the controversial “Star Wars” initiative of the 1980s. Each was fiercely opinionated, politically active, and fought against all forms of totalitarianism.
Hargittai, as a young Hungarian physical chemist, was able to get to know some of these great men in their later years, and the depth of information and human interest in The Martians of Science is the result of his personal relationships with the subjects, their families, and their contemporaries.