OTHER PEOPLE'S TRADES contains 43 essays originally written for newspaper publication. They are, in the author's words, 'the fruit of my roaming about as a curious dilettante for more than a decade ... invasions of the field, incursions into other people's hunting preserves, forays into the boundless territories of zoology, astronomy and linguistics' 'There is no contest. The noblest book of the year' Anita Brookner, SPECTATOR 'Read an essay or two every few days; it'll be like meeting him in a Turin cafe, hearing him talk of wonderful, funny and horrible things in his gentle, dry voce, with all the virtues of his chemist's training - 'humility, patience and method', a wonderful nose and eye, and a steady hand' NEW STATESMAN & SOCIETY 'Everything Primo Levi has ever written is well worth reading, and this collection is no exception' THE TIMES 'There is no contest. The noblest book of the year' SPECTATOR

The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary-market dealing in existing assets. Regulation has contributed more to the problems than the solutions. Why? What is finance for? John Kay, with wide practical and academic experience in the world of finance, understands the operation of the financial sector better than most. He believes in good banks and effective asset managers, but good banks and effective asset managers are not what he sees. In a dazzling and revelatory tour of the financial world as it has emerged from the wreckage of the 2008 crisis, Kay does not flinch in his criticism: we do need some of the things that Citigroup and Goldman Sachs do, but we do not need Citigroup and Goldman to do them. And many of the things done by Citigroup and Goldman do not need to be done at all. The finance sector needs to be reminded of its primary purpose: to manage other people's money for the benefit of businesses and households. It is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of other algorithms for computerized trading in securities. To travel further down that road leads to ruin. A Financial Times Book of the Year, 2015 An Economist Best Book of the Year, 2015 A Bloomberg Best Book of the Year, 2015

In light of the intertwining logics of military competition and economic interdependence at play in US-China relations, Trading with the Enemy examines how the United States has balanced its potentially conflicting national security and economic interests in its relationship with the People's Republic of China (PRC). To do so, Hugo Meijer investigates a strategically sensitive yet under-explored facet of US-China relations: the making of American export control policy on military-related technology transfers to China since 1979. Trading with the Enemy is the first monograph on this dimension of the US-China relationship in the post-Cold War. Based on 199 interviews, declassified documents, and diplomatic cables leaked by Wikileaks, two major findings emerge from this book. First, the US is no longer able to apply a strategy of military/technology containment of China in the same way it did with the Soviet Union during the Cold War. This is because of the erosion of its capacity to restrict the transfer of military-related technology to the PRC. Secondly, a growing number of actors in Washington have reassessed the nexus between national security and economic interests at stake in the US-China relationship - by moving beyond the Cold War trade-off between the two - in order to maintain American military preeminence vis-à-vis its strategic rivals. By focusing on how states manage the heterogeneous and potentially competing security and economic interests at stake in a bilateral relationship, this book seeks to shed light on the evolving character of interstate rivalry in a globalized economy, where rivals in the military realm are also economically interdependent.

Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money. He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation.

Written by a senior scholar and master mariner, Sailors and Traders is the first comprehensive account of the maritime peoples of the Pacific. It focuses on the sailors who led the exploration and settlement of the islands and New Zealand and their seagoing descendants, providing along the way new material and unique observations on traditional and commercial seagoing against the background of major periods in Pacific history. The book begins by detailing the traditions of sailors, a group whose way of life sets them apart. Like all others who live and work at sea, Pacific mariners face the challenges of an often harsh environment, endure separation from their families for months at a time, revere their vessels, and share a singular attitude to risk and death. The period of prehistoric seafaring is discussed using archaeological data, interpretations from interisland exchanges, experimental voyaging, and recent DNA analysis. Sections on the arrival of foreign exploring ships centuries later concentrate on relations between visiting sailors and maritime communities. The more intrusive influx of commercial trading and whaling ships brought new technology, weapons, and differences in the ethics of trade. The successes and failures of Polynesian chiefs who entered trading with European-type ships are recounted as neglected aspects of Pacific history. As foreign-owned commercial ships expanded in the region so did colonialism, which was accompanied by an increase in the number of sailors from metropolitan countries and a decrease in the employment of Pacific islanders on foreign ships. Eventually small-scale island entrepreneurs expanded interisland shipping, and in 1978 the regional Pacific Forum Line was created by newly independent states. This was welcomed as a symbolic return to indigenous Pacific ocean linkages. The book’s final sections detail the life of the modern Pacific seafarer. Most Pacific sailors in the global maritime labor market return home after many months at sea, bringing money, goods, a wider perspective of the world, and sometimes new diseases. Each of these impacts is analyzed, particularly in the case of Kiribati, a major supplier of labor to foreign ships.

A veteran New York Times reporter dissects the most spectacular failure in real estate history Real estate giant Tishman Speyer and its partner, BlackRock, lost billions of dollars when their much-vaunted purchase of Stuyvesant Town–Peter Cooper Village in New York City failed to deliver the expected profits. But how did Tishman Speyer walk away from the deal unscathed, while others took the financial hit—and MetLife scored a $3 billion profit? Illuminating the world of big real estate the way Too Big to Fail did for banks, Other People’s Money is a riveting account of politics, high finance, and the hubris that ultimately led to the nationwide real estate meltdown.