Review by Library Journal Review
Understanding the markets is a challenge for all investors, and Chief Investment Strategist Hagstrom (senior vice president, Legg Mason Capital Management; The Warren Buffet Way) extends his expertise by offering an updated edition of his seminal work. Building on Charlie Munger's ideas about the interconnectivity of mental models, Hagstrom examines the fields of biology, literature, sociology, and mathematics to show how a multidisciplinary approach to understanding ideas offers insights into investing. Each chapter covers one area of study outside of economics, then provides one key concept that applies to investing, such as equilibrium, evolution, or complexity theory, with the goal of creating a "cohesive understanding." The title may be misleading. This book is not strictly a guide to investing; rather, it is intended to help investors develop a broader view of the field by applying the study of other disciplines. VERDICT Hagstrom's compact volume concisely illustrates his views of economics while exploring the depths of other disciplines. Recommended reading for anyone who invests, as well as students of finance and business, for its fresh perspective on the dynamics of the market.-Elizabeth Nelson, UOP Library, Des Plaines, IL (c) Copyright 2013. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
(c) Copyright Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
