Finance

The Black Swan 《黑天鹅》 Nassim Nicholas Taleb Taleb argues that history and markets are shaped mainly by a very small number of extreme events — precisely the ones existing models cannot… Finance Classic Index 95

Antifragile 《反脆弱》 Nassim Nicholas Taleb Taleb proposes a third category beyond robust and fragile: antifragile, meaning systems that not only withstand volatility, stress, and error but… Finance Classic Index 93

Fooled by Randomness 《随机漫步的傻瓜》 Nassim Nicholas Taleb Taleb writes from a trader's perspective to show how we explain luck as skill and treat survivors as examples, thereby systematically overrating the… Finance Classic Index 91

Against the Gods 《与天为敌》 Peter Bernstein Bernstein tells how humans learned to live with risk: from gambling and the mathematics of probability to insurance, statistics, and financial… Finance Classic Index 90

Manias, Panics, and Crashes 《疯狂、惊恐和崩溃》 Charles Kindleberger Kindleberger breaks financial crises into a recognizable sequence: a new opportunity appears, credit expands, speculation builds, insiders exit… Finance Classic Index 89

The Ascent of Money 《货币崛起》 Niall Ferguson Ferguson strings world history on a few financial innovations — bonds, equities, insurance, mortgages, and derivatives — each tied to a shift in… Finance Classic Index 87

Extraordinary Popular Delusions and the Madness of Crowds 《大癫狂》 Charles Mackay Writing in the nineteenth century, Mackay compiled a dossier of collective illusions: tulip mania, the South Sea Bubble, alchemy, the Crusades, and… Finance Classic Index 86

When Genius Failed 《赌金者》 Roger Lowenstein Long-Term Capital Management gathered two Nobel laureates and some of Wall Street’s best traders, then collapsed under leverage within months in… Finance Classic Index 86

The Big Short 《大空头》 Michael Lewis Lewis follows a handful of small funds and traders who noticed that US mortgage securities were systematically mispriced, bet against subprime debt… Finance Classic Index 85