Posts Tagged As The Black Swan

Having A Huge Multiplier – Barton Biggs & Morgan Stanley

Remembering back to my years in the financial industry (Morgan Stanley 1997-2003) every business unit was always looking for the “multiplier” that can have a significant impact on their business. In the failed Mortgage Bond business it was the leverage multiplier – borrow huge sums of money to invest in mortgages with the goal of “super sizing” your returns. It the Private Equity business it was the pricing multiplier that you were seeking when you were able to roll smaller companies into one larger company by shedding redundancies (i.e. layoffs) and less pricing pressure from less competition. One of my other lessons on the importance of the multiplier came within my first few weeks of joining the Firm’s MBA New Hire Training Program. The teacher was one of the Firm’s legendary Global Markets Strategists, Barton Biggs.

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Book Review: The Black Swan by Nassim Taleb

I just added a brief book review for one of my favorite reads of the last few years – The Black Swan: The Impact of the Highly Improbable by Nassim Taleb. If you have already read the book let me know what you think by leaving a comment. Enjoy!

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The Black Swan by Nassim Taleb