List Of The Best Business Books Of All Time

best business-books

List Of The Best Business Books Of All Time

  •  Mastering Private Equity 2 sets – Claudia Zeisberger, Michael Prahl
    The best equity teaching textbook has been found.
  • Fooled by Randomness – Nassim Nicholas Taleb
    This book is not worthy of such a high position. But this is a book that no one dares to translate so leave this place for fun.
  • Options, Futures, and other Derivatives – John Hull.

Books that teach fresh money on the stock exchange. Just having a new product coming out is known to know how to make money with it, but nowhere to study. This book is a worldwide derivative ordinance, taught at most business schools.

  • The Hard Thing about Hard Things – Ben Horowitz

    The best startup book of all time.

  •  Good to Great – Jim Collins
    This book is too good, from review.
  • The Effective Executive – Peter F. Drucker

The best management books .

  • Business Analysis and Valuation – Krishna Palepu
    The most readable business analysis textbook.
  • Sprint: How to Solve Big Problems and Test New Ideas in Just Five Days – Knapp, Zeratsky, Kowitz
    Books like titles, teach each step to do a trial run of the project in 5 days
  • The Long Tail – Chris Anderson
    Sales strategy, retail, how to build a business model.
  • Crossing the Chasm – Geoffrey A. Moore
    The biggest challenge of starting a business is selling enough to pass the initial threshold to mainstream. This book teaches a way of looking at sales over the threshold.
  • Work Rules! – Laszlo Bock
    Google-style workbooks.
  • The Art of the Start – Guy Kawasaki
    Also a startup book is very practical.
  • How Google Works – Eric Schmidt, Jonathan Rosenberg
    Former Google president shared about Google.
  • Irrational Exuberance – Robert Shiller
    The book was written to warn the economic crisis. But learn to stock up from here.
  •  One Up on Wall Street – Peter Lynch
    This is the only book about stock that read at the beginning. The other volumes, including Intelligent Investor, cannot enter the head.
  • The Essays of Warren Buffett
    Summary of management, investment, risk management views of Warren Buffett.
  •  CFA Equity Level 2
    CFA certificate has 3 levels, 6 books each. The rate of passing all 3 levels in the first test is 3%. Equity level 2 is the best book on basic investment analysis.
  • Martin S. Fridson, Financial Statement Analysis – Fernando Alvarez
    Teach how to read financial statements out of the story. It is possible to use the stock to get a job.

  • Measure What Matters – John Doerr
    Teach set targets for management.
  • Leadership is an Art – Max Depree
    Book leadership & motivation.
  • Value at Risk – Philippe Jorion
    If not working in the risk management department, it is not necessary to use these skills to teach, but this is a book that teaches how to apply statistical probability to see the world very well.
  • No B.S. Price Strategy – Dan S. Kennedy
    How to set product prices.
  • Corporate Finance – Ross Westerfield
    This is the most basic and easy to read financial book. Knowledge from here can be immediately applied to many non-financial areas.
  • The Sense of Style – Steven Pinker
    English writing book.

  • Financial Modelling – Simon Benninga
    Books to teach basic financial models.
  •  A Guide to the Body Management Project of Knowledge – Project Management Institute
  • Venture Deals – Brad Feld, Jason Menseldon
    Book about how VC works. But what is worth is the legal form in the appendix.

Antifragile Book Review – Nassim Taleb

antifragile nassim taleb

Antifragile Book Review – Nassim Taleb

The fallacy of “average” (mistake of average / average figures).

Vietnam’s GDP per capita in 2016 is about 2,200 USD (50 million / year). The average house / apartment price is from 700 million – 1.5 billion. High-end apartments are about 3 billion or more. If the average GDP is calculated, Vietnamese people have to work 30 years to buy a mid-range apartment and 68 years of work to buy a high-class apartment. Many people are surprised why the fact that the high-end apartment project still sprung up like mushrooms after the rain, the project that opened and sold out also ran out of stock, so many stars had so much money, it must be speculation / bubbles.

In fact, the average GDP data does not indicate the distribution and the difference in income. The average of the whole society is 2,200 USD, but many people earn hundreds of times that average. My personal guess: the Vietnamese population is 100 million, 70% (70 million) are in the working / working age. Of those 70 million, about 0.5% (350 thousand people) can earn up to 10 billion per year, 5% (3.5 million people) with an income of about 1 billion / year, nearly 15% (11 million). with an income of up to 500 million / year and the remaining 80% (56 million) with income of less than 50 million / year.

Thus, 11 million people can afford an average apartment (less than 1.5 billion) after 4 years of work. Nearly 4 million people are able to buy luxury apartments (over 3 billion) after 4-5 years. The number of high-class apartments in the country is about 12,000 units per year on average, so after only 7 years (from 2009 until now), there are only about 85,000 units, still very few compared to the potential. Not surprisingly, the demand for high-end apartments is still high.

Brand name firms, from Herme leather bags of 2 billion VND / unit, to Rolex watches, LV belts … can survive because of the unequal distribution of properties. Based on the average income of 2,200 USD / year, no firm exists (even in the world, not Vietnam).

Similarly, Vung Tau is the locality with the highest average income of goods in the country, but the business of goods and high-quality investment services is difficult to make money, almost restaurants and coffee shops. high-end, Japanese / American furniture stores are 1 year long and short, only 2-3 months are closed. The reason rich people contribute to high average GDP accounts for a small amount. Although they have a lot of money, they only drink 1 cup of coffee / day, eat up to 3 meals … the demand is only that, the high-end business is difficult to live.

On average, women are smart and capable of being inferior to men. But in men, the distribution of talent is uneven: on the average, the whole species is equal to women, but in some men it is excellent, but others are also ridiculous. That explains why the national leaders, companies, characters are better in men than in women in science and art, but go to jail for drug addiction, addiction, forgiveness, lazy … men also superior to women many times.

Now Nassim Nicholas Taleb has only written 3 books (Fooled by Randomness, Black Swan and Antifragile), but every book is very impressive, profound and countless new ideas. “The fallacy of average” is just a bullet point in a page of Antifragile (450 pages).

All three of Taleb’s books are difficult to read, but deserve to ponder, struggle and read over and over again.

(By Meraki)

Sách Antifragile – Nassim Taleb

antifragile nassim taleb

Sách Antifragile – Nassim Taleb

The fallacy of “average” (sai lầm của những số liệu trung bình/bình quân).

GDP bình quân đầu người của VN năm 2016 là khoảng 2.200 USD (độ 50 triệu/năm). Giá nhà đất/căn hộ tầm trung là từ 700triệu – 1.5 tỷ. Căn hộ cao cấp khoảng 3 tỷ trở lên. Nếu tính theo GDP bình quân thì người Việt phải mất 30 năm làm việc mới mua đc một căn hộ tầm trung và 68 năm làm việc thì mới mua được một căn hộ cao cấp. Nhiều người ngạc nhiên sao thực tế dự án căn hộ cao cấp vẫn mọc lên như nấm sau mưa, dự án nào mở bán cũng hết hàng, thiên hạ sao nhiều tiền thế, chắc chắn phải là đầu cơ/bong bóng.

Thực ra số liệu GDP bình quân ko nói lên sự phân bổ và khác biệt trong thu nhập. Bình quân cả xã hội 2.200 USD, nhưng nhiều người kiếm gấp trăm lần số bình quân đó. Ước đoán mò của cá nhân tôi: dân số Vn 100 triệu, 70% (70 triệu) đang trong độ tuổi lao động/đi làm. Trong số 70 triệu đó thì khoảng 0.5% (350 nghìn người) có thể có thu nhập lên tới 10 tỷ mỗi năm, 5% (3.5 triệu người) có thu nhập khoảng 1 tỷ/năm, gần 15% nữa (11 triệu) có thu nhập tới 500 triệu/năm và 80% còn lại (56 triệu) có thu nhập dưới 50 triệu/năm.

Như vậy thì có 11 triệu người có khả năng mua được căn hộ trung bình (dưới 1.5 tỷ) sau độ 4 năm làm việc. Gần 4 triệu người có khả năng mua căn hộ cao cấp (trên 3 tỷ) sau 4-5 năm. Lượng căn hộ cao cấp cả nước mỗi năm tung ra thị trường trung bình khoảng 12.000 căn, như vậy sau 7 năm (từ 2009 tới nay) mới có khoảng 85.000 căn, còn rất ít so với tiềm năng. Không ngạc nhiên khi thời gian tới nhu cầu đối với căn hộ cao cấp vẫn còn nhiều.

Các hãng kinh doanh hàng hiệu, từ cái túi da Herme 2 tỷ/chiếc, cho đến đồng hồ Rolex, thắt lưng LV…sống được là nhờ đặc tính phân bổ tài sản không đều đó. Chứ cứ dựa vào mức thu nhập bình quân 2.200 USD/năm thì chả hãng nào tồn tại được (cả trên thế giới chứ đừng nói Vietnam).

Tương tự vậy, Vũng tàu là địa phương có thu nhập bình quân vào hàng cao nhất cả nước, nhưng kinh doanh hàng hoá, dịch vụ cao cấp/đầu tư bài bản rất khó kiếm tiền, hầu như các nhà hàng, quán cà phê high-end, tiệm bán đồ Nhật/đồ Mỹ lâu là 1 năm, ngắn thì chỉ 2-3 tháng là đóng cửa. Lý do những người giàu góp phần làm cho GDP bình quân cao chiếm số lượng ít. Dù có nhiều tiền họ cũng chỉ uống 1 ly cà phê/ngày, ăn tối đa 3 bữa…nhu cầu chỉ có vậy thì kinh doanh cao cấp khó sống.

Về mặt trung bình, phụ nữ thông minh và có khả năng không thua kém đàn ông. Nhưng ở đàn ông, phân bố về tài năng là không đồng đều: về mặt trung bình cả loài thì ngang với phụ nữ, nhưng ở đàn ông một số thì rất xuất sắc, nhưng số khác thì cũng rất vớ vẩn. Điều đó lý giải tại sao lãnh đạo quốc gia, cty, nhân vật xuất chúng trong khoa học, nghệ thuật đàn ông hơn hẳn phụ nữ, nhưng vào tù ra tội, nghiện hút, bê tha, lười biếng…đàn ông cũng vượt trội hơn phụ nữ nhiều lần.

Tới giờ Nassim Nicholas Taleb mới chỉ viết có 3 cuốn (Fooled by Randomness, Black Swan và Antifragile), nhưng cuốn nào cũng rất ấn tượng, sâu sắc và vô vàn những ý tưởng mới lạ. “The fallacy of average” chỉ là một ý gạch đầu dòng trong một trang của cuốn Antifragile (450 trang).

Ba cuốn của Taleb đều khó đọc, nhưng xứng đáng để chúng ta nghiền ngẫm, vật vã và đọc đi đọc lại nhiều lần.

(Sưu tầm từ Meraki)

How To Lie With Statistics – Darrell Huff

How to lie with statistics darrell huff

How To Lie With Statistics – Darrell Huff

Regression to the mean. (Average Regression)

Reporter Tim Hardford recently reported that the American Communications Association has just awarded the Communicator of the Year 2017 to Oscar Munoz (CEO of United Airlines). The name of the uncle is engraved in the prize, and it is not clear that the “miss” happened by Munoz in handling Mr. David Dao was pulled from the plane.

The American Architects Association awards excellent awards to Kemper Arena, the award ceremony takes place at an Arena designed by the Arena; After a few hours, the roof of this program suddenly collapsed.

Life is literally black.

There was a friend who worked as a boss, just called up and praised one of the staff the previous day, the number one; He has not missed the day after he had terrible mistakes. Other children have been criticized, then later they will see it perform.

Tim Hardford argues that people often have little to say about a statistics rule that all things tend to return to moderate (regression to the mean).

For example, the average height of Vietnamese people is 1.6m; Which one is 1.9m tall is the “border” / exception. Regression to the mean means that your child will most likely return to 1.6m. Like my father-in-law 1.8m; The instrument has two children, the height is all “mean”.

“Regression to the mean” is not difficult to understand, but few people know how to apply it in practice.

In business, Vingroup in the years 2009-2014, continuous 5-7 years of continuous revenue increased by 200-300%, the previous year doubled the next year; The stock price went up, did you ask if you should buy Vin’s stock? Vin is a good group without discussion, but at the price of 100-150K (at the time of 2012), it is expected that the market will grow 200-300% every year for 5-7 years. 20-30 years into the top of the world, not only Vietnam. Tree cannot grow to the sky, any company has grown significantly over the past 5-7 years, investing on the assumption that it will continue to grow like that for another 5-7 years is a risky assumption.

I just went out of business, there was a friend who told me that when I was in the market, I was so cool, so I could follow. I told you, wait for a while, maybe you’re going back to “mean”.

(From Meraki)

The Undoing Project by Michael Lewis

The Undoing Project by Michael Lewis.

The Undoing Project by Michael Lewis.

“It’s hard to know how people select a course in life. The big choices we make are practically random. The small choices probably tell us more about who we are. Which field we go into may depend on which high school teacher we happen to meet. Who we marry may depend on who happens to be around at the right time of life. On the other hand, the small decisions are very systematic.”
That I became a bookseller is probably not revealing. But what kind of bookseller I am may reflect deep traits.

– From “The Undoing Project”, by Michael Lewis.

(from Meraki)

The Snowball Warren Buffett and the Business of Life – Alice Schroeder

The Snowball Warren Buffett and the Business of Life - Alice Schroeder

The Snowball Warren Buffett and the Business of Life – Alice Schroeder

Buffett is, of course, more intelligent, more intelligent than many other smart people in knowing where he is, what he wants, the reason for his work and the way he goes.

The period of the 1990s internet stock movement in the United States, like we did in 2006-2007, just “selling is losing, buying is winning” … He himself does not join technology / internet stocks, the reason is he has not yet understand how to create value / profit of these companies.

While investors around the year – multiply ten assets by week, by month, Berkshire’s stock value dropped by 30% … for a long time 5-7 years he was mocked, made antics, people say the investment genius Buffet is completely sacred. He ruled, still steadily “cycling”, “cycling”. Until technology stocks bubble burst in 2001.

Buffett thinks jealousy, and social pressure is an enemy that needs to be controlled. To live happily, there should be independence in thinking, perspective, lifestyle, choice, and the path we have chosen.

People like me “lost drift in the middle of life”, swept away by greed and fear: seeing the price rise, then the people rushed to invest, reduce and step on each other running … and both jealousy and pressure inferior to friends, colleagues, society.

There are many good and detailed books about Buffet’s investment method, he himself is very open to sharing secrets / experience in nearly 70 years of his career; Stocks he owns can be bought. Yet very few people later succeeded, even if only 1/10, 1/100 of Buffett. Maybe he said no one listened, or heard but could not do it … and then still drifted, still jealous, still greedy and afraid to lead.

It is also possible that the crowd is “irreparable” so people like Buffett can maintain their advantage with the majority, and continue to win.

The development trend of science, especially in the field of “artificial intelligence” (artificial intelligence) with the ability to handle large data (big data) makes many people believe that the future of computers and algorithms use in investment will defeat “philosophers” like Warren Buffett.

Miles Johnson quotes people who concurrently with Buffett, Carl Icahn: “Some people get rich studying artificial intelligence. Me, I make money studying natural stupidity ”. So is Warren Buffett.

P / S: Buffett later had a technology stock investment, first IBM (in 2011, nearly 20 years after he said he did not understand this level), and later Apple (2016).

(From Meraki)