Most of this book is about warfare, philosophy, botany, and Austrian economics history, but it teaches lessons throughout. This is Austrian Investing, an archetypal, counterintuitive, and proven approach, gleaned from the 150-year-old Austrian School of Economics, that is both timeless and exceedingly timely. This is the first book about markets and investing, that left me feeling empowered to actually do so. However, it has highly valuable investing information specially chapter nine and ten (Austrian investing I & Austrian Investing II), This book is not really what I expected, but I mean that in a good way. Start by marking “The DAO of Capital: Austrian Investing in a Distorted World” as Want to Read: Error rating book. 4 THE DAO OF CAPITAL even existed, and may have been one person or even a succession of contributors over time. Indeed, might be one of the most important books of the year, or any year for that matter." Sprache: Englisch. Mark Spitznagel builds a mosaic of philosophy, history, economics, military strategy, psychology and more to end up with a loose framework for equity investing that could serve as a practical sequel to Nassim N. Taleb’s Antifragile. What should you buy or sell? Spitznagel often goes on long routes using various metaphors, from history to evolutionary biology, to explain his roundabout approach to investing. Some of the examples are interesting but it is a bit dense in places. Wählen Sie die Kategorie aus, in der Sie suchen möchten. This was a tough book to hack through, and I don't say that very often. Geben Sie es weiter, tauschen Sie es ein, © 1998-2021, Amazon.com, Inc. oder Tochtergesellschaften, Taleb, N: STATISTICAL CONSEQUENCES OF FA: Real World Preasymptotics, Epistemology, and Applications…, Übersetzen Sie alle Bewertungen auf Deutsch, Lieferung verfolgen oder Bestellung anzeigen, Recycling (einschließlich Entsorgung von Elektro- & Elektronikaltgeräten). In The Dao of Capital, hedge fund manager and tail-hedging pioneer Mark Spitznagel—with one of the top returns on capital of the financial crisis, as well as over a career—takes us on a gripping, circuitous journey from the Chicago trading pits, over the coniferous boreal forests and canonical strategists from Warring States China to Napoleonic Europe to burgeoning industrial America, to the great economic … Spitznagel has a very rational perspective on the economy and businesses, well-informed by a set of thinkers who prioritize clarity of argument to some of the more empirical/"data-driven" approaches that are perhaps more popular now. Much longer. We arrive at his central … This Book is not like anyone you have read before. Taleb who is a friend and former colleague to the author is one of those endorsing the book – as is amongst others Paul Tu. That is what was surprising for me though. The only thing that's of any use in this book is some old school pit traders wisdom. He also owns and operates Idyll Farms in northern Michigan. I think there is much more to be learned about it and so I will look for similar books, just not necessarily by this author. The combination of economic theory and practical market understanding make this book a worthwhile read for both those with a general interest, and those looking to understand how to put the principles to use in the real world, 3 Personen fanden diese Informationen hilfreich, Rezension aus dem Vereinigten Königreich vom 3. Außerdem analysiert es Rezensionen, um die Vertrauenswürdigkeit zu überprüfen. Very solid exploration of the early Austrian School of Economics from the point of view of the investor. The author sounds like a silly undergraduate drunk on the latest idea he comes across when reading the history of economics. The author focuses too much of the thinking of Austrian economists. An interesting book. Wir verwenden Cookies und ähnliche Tools, um Ihr Einkaufserlebnis zu verbessern, um unsere Dienste anzubieten, um zu verstehen, wie die Kunden unsere Dienste nutzen, damit wir Verbesserungen vornehmen können, und um Werbung anzuzeigen, einschließlich interessenbezogener Werbung. We’d love your help. ‎ As today's preeminent doomsday investor Mark Spitznagel describes his Daoist and roundabout investment approach, “one gains by losing and loses by gaining.” This is Austrian Investing , an archetypal, counterintuitive, and proven approach, gleaned from the 150-year-old Austria… It had some very good ideas so it makes the book worth reading/listening, but I would prefer to minimize the not that related metaphors, tone down / simplify a bit the discussion of the Austrian economics, and do much better job to connect the above to investing. And its every libertarians well ....dream. He tried to put too many unrelated metaphors and even the idea was to explain the thinking of "Austrian Investing" this was the smallest part of the book. Tha's all. An entertaining read, highlighting the insights Austrian Economics has to offer for the interpretation of market regimes, expanding into the author's practice of what he calls Austrian Investing. In the end his message is simple, but by providing the historical underpinnings he brings them to life in a much more vibrant way." Bitte versuchen Sie es erneut. Albeit a good important book to read for anyone serious about investing. Taleb says somewhere that people who feel successful at economics spend their time talking about literature, art, politics, science, while those who feel unsuccessful at economics spend their time talking about money and finance. Indeed, the closest peer to The Dao of Capital is probably Taleb’s bestseller The Black Swan. According to tradition, Laozi was the keeper of archival records for the ruling dynasty in the sixth century BCE, although some scholars and sinologists maintain that the Old Master emanated from the fourth century BCE. The examples are imaginative, and by the time he is talking about investing itself, there are some fun "a-ha" moments of connection. "At the outset, we must think of capital in a new way, as a verb, not a noun. The book's premise is summarized as: "Rather than pursue the direct route of immediate gain, we will seek the difficult and roundabout route of immediate loss, an intermediate step which begets an advantage for greater potential gain". I really loved this book. Mark Spitznagel erzählt einige sehr schöne Geschichten, die daran erinnern, dass wir es genau anders herum machen sollten. I guess his meta-narrative actually reflects his basic point, that the roundabout way is the better, more effective way than the direct way. If you buy and read this, you ought to also find and read Rahim Tagezidigan's "Austrian School for Investors," a worthy pendant to this volume. In The Dao of Capital, hedge fund manager and tail-hedging pioneer Mark Spitznagel—with one of the top returns on capital of the financial crisis, as well as over a career—takes us on a gripping, circuitous journey from the Chicago trading pits, over the coniferous boreal forests and canonical strategists from Warring States China to Napoleonic Europe to burgeoning industrial America, to the great economic … Should you buy more equities or sell your existing equity holdings? In a way I guess the book mirrors the roundabout. I think Mr. Spitznagel is brilliant. The Dao of Capital: Austrian Investing in a Distorted World: Spitznagel, Mark, Paul, Ron: Amazon.nl Selecteer uw cookievoorkeuren We gebruiken cookies en vergelijkbare tools om uw winkelervaring te verbeteren, onze services aan te bieden, te begrijpen hoe klanten onze services gebruiken zodat we verbeteringen kunnen aanbrengen, en om advertenties weer te geven. Ok, I first jumped to give this a 5 star, cause I liked the book. The author sadly is a poor knock off version of his mate Taleb who at least makes a good fist of being a half baked intellectual. Abhängig von der Lieferadresse kann die USt. Sometimes he gets far off the main point and uses lots of very abstract examples. Spitznagel takes the 'round-about way' literally, explaining the same thing from Chapter 1 to 9 (that's where I stopped reading after realizing I'm not going to get anything new out of the last chapter), in round-about ways. Sie hören eine Hörprobe des Audible Hörbuch-Downloads. Januar 2019, In one of the proudest moments of my life, I reduced the number of communists in the world by sharing this book with a friend. Indeed, might be one of the most important books of the year, or any year for that matter." Succinctness is not a quality of this book. The book is extremely boring and insanely repetitive making reading it an exhausting process. Namely, "don't put all your eggs in one basket". It was, at times, quite repetitive; and the hagiography of his favorite Austrian economists borders on zealotry, which gets tiresome. I did not enjoy how the author frames his thoughts. As for the DOA of it it reminds me of Fritjof Capra's Toa of physics. Spitznagel brings powerful ideas incredibly well simplified. The author proceeds to bring in Eastern philosophy, the growth patterns of boreal forests, the military strategies of Clausewitz, Henry Ford, fire suppression strategies of the National Park Service, and several other seemingly off-topic subjects and eventually relates them all to Austrian-style investing. ‎As today's preeminent doomsday investor Mark Spitznagel describes his Daoist and roundabout investment approach, “one gains by losing and loses by gaining.” This is Austrian Investing, an archetypal, counterintuitive, and proven approach, gleaned from the 150-year-old Austrian School of economics, t…