My Learning Library

Here's a detailed collection of the books I've completed in recent years, updated weekly.

Capital Wars
This book defines global liquidity and explains why it's a central force in shaping economies and financial markets. It examines how central banks influence liquidity and how those shifts affect prices across various asset classes. It also explores the broader implications for debt-driven systems and highlights China’s growing influence in global capital flows.
I enjoyed listening to Howell’s thinking and reading his CrossBorder Capital Substack, which led me to buy this book. It’s a dense but worthwhile read that offers a valuable perspective on how central banks create and manage liquidity. The “Global Liquidity Cycle” he outlines is especially insightful and reminds me of concepts from Howard Marks’ book–Mastering the Market Cycle. Read the 2021 paperback edition.
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Where the Money Is
A framework-driven investing book by Adam Seessel, founder of Gravity Capital Management, that updates value investing for the digital age. Seessel traces the evolution from Benjamin Graham’s Value 1.0 to Warren Buffett’s Value 2.0, and introduces his own Value 3.0—designed for evaluating high-growth, asset-light digital businesses. Drawing from personal experience and investment missteps, Seessel explains why traditional value methods improperly value modern tech firms. The book includes clear case studies showing how he applies this to several technology companies.
Lightbulb moment: Seessel’s concept of "earnings power" is a modern update to Warren Buffett’s “owner’s earnings,” tailored for digital growth companies. It helped me realize that earnings aren’t apples-to-apples—company stage and growth prospects distort comparisons. Michael Mauboussin has made similar points: GAAP accounting, built for physical assets, misrepresents digital businesses by expensing investments that should be capitalized. Seessel’s background includes working with Chris and Shelby Davis at Davis Selected Advisors.
Investing for Growth
A framework-driven book by Terry Smith, founder of Fundsmith Equity Fund. This curated collection of two decades’ worth of investment letters and essays lays out his core philosophy: buy high-quality businesses in public markets, hold them long-term, and ignore market noise.
Strong focus on free cash flow yield and return on capital employed—Terry explains why they matter. He’s a straight shooter who breaks down key growth investing concepts with clarity and real examples. A good complement for fans of Buffett’s style, but with a stronger tilt toward growth. Read 2020 hardcover.
Capital Returns
A framework-driven book by financial historian and journalist Edward Chancellor that explores the capital cycle—the movement of capital into and out of industries—and how investors can use it to generate above-average returns. Chancellor illustrates these concepts through real-world investment reports by Marathon Asset Management from 2002 to 2014.
Interesting take on the commodity supercycle. Helpful emphasis on analyzing supply over demand. Solid overview of cycles—pairs well with Howard Marks’ Mastering the Market Cycle. Chancellor also wrote The Price of Time and Devil Take the Hindmost. Read 2015 hardcover
Common Stocks and Uncommon Profits and Other Writings
A framework book by Philip Fisher, a pioneer of investing in growth companies in the stock market. Fisher shares his principles for generating above-average returns by identifying high-quality companies with strong long-term growth potential and holding them over time. He explains his “Scuttlebutt” research method and outlines his 15-point checklist for evaluating companies. The book presents his approach in clear language that the average investor can understand.
Warren Buffett “sought out Phil Fisher” after reading this book. Buffett adopted many of Fisher’s principles when he shifted from buying fair companies at cheap prices to buying great companies at fair prices. This is a classic investment book filled with timeless principles. I liked Fisher’s “Scuttlebutt” research method, which encourages gathering firsthand insights to gain an edge beyond financial statements. Originally published in 1958, the book was republished in 1996 and 2003.
100 Baggers
A framework by investor Chris Mayer for identifying public companies with the potential to become 100-baggers—stocks that return $100 for every $1 invested. Inspired by Thomas Phelps’ 1972 classic, 100 to 1 in the Stock Market, Mayer modernizes the approach by highlighting early financial signals like high ROIC and emphasizing the discipline of holding great businesses for a decade or more.
Complements "100 to 1 In The Stock Market" by Thomas Phelps. 100x returns take time, so be patient. Read 2015 paperback.
You Can Be a Stock Market Genius
Framework book that explains how individual value investors can uncover mispriced opportunities by focusing on overlooked or misunderstood special situations. Greenblatt covers spin-offs, mergers, bankruptcies, restructurings, recapitalizations, warrants, LEAPS, options, and more. Each concept is illustrated through detailed case studies showing how he and other investors applied these strategies to generate market beating returns.
The case studies were gold—they really helped me understand each concept. This book is a roadmap for finding areas where individual investors can have an edge over larger players. The section on warrants and LEAPS reminded me of Ed Thorp and how he ran his hedge funds. It also complements Greenblatt’s other book, The Little Book That Still Beats the Market. Read the 1999 paperback edition.
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Margin of Safety
A framework book on value investing by Baupost Group cofounder Seth Klarman. It explains how disciplined investors can generate strong returns while minimizing the risk of permanent capital loss, with the core principle being to demand a margin of safety — valuing assets independently and only buying when prices fall well below that value.
Highly sought-after. Hard to find for reasonable price. Read 1991 hardcover.
100 to 1 in the Stock Market
A framework by Investor Thomas Phelps for spotting public companies with the potential to deliver 100-to-1 returns—turning $1 into $100—by identifying traits that enable long-term compounding. Drawing from dozens of case studies through 1971, he offers a practical checklist and explores the psychology and discipline required to hold for such extraordinary gains.
Great for understanding early characteristics of long term compounding companies. Originally published in 1972. Read 2015 paperback.
The Joys of Compounding
A framework for applying the power of compounding across every area of life—not just investing, but also habits, learning, relationships, and character. Drawing on insights from some of the world’s sharpest minds, Baid distills decades of wisdom into a thoughtful, well-researched guide. It’s a reminder that the most powerful compounding happens when you invest in yourself.
One of my favorite books—worth rereading annually. Full of lightbulb moments. Read 2020 hardcover.
How to Read a Book
A framework book for gaining a deeper understanding from what you read. It provides a step-by-step approach that helps readers learn from books and develop original insights. A key concept is the four levels of reading: Elementary Reading (basic literacy), Inspectional Reading (skimming to grasp key ideas), Analytical Reading (methodically questioning a book’s arguments), and Syntopical Reading (reading multiple books on a topic and comparing them to develop your own insight).
The concept of syntopical reading stuck with me—reading across multiple books to answer a question, not just absorb one author’s view. Asking “What’s the main argument or tree trunk of this book?” changed how I read. Originally published in 1940. I read the 2014 paperback reprint.
Hedge Fund Market Wizards
A biographical anthology about 15 of the most successful hedge fund managers. Divided into three sections—Macro, Multistrategy, and Equity—the book is based on in-depth interviews that explore each investor’s strategies, principles, and mindset, revealing what enabled their long-term success. The managers profiled are: Colm O'Shea, Ray Dalio, Larry Benedict, Scott Ramsey, Jaffray Woodriff, Edward Thorp, Jamie Mai, Michael Platt, Steve Clark, Martin Taylor, Tom Claugus, Joe Vidich, Kevin Daly, Jimmy Balodimas, and Joel Greenblatt.
Great sections on Ed Thorp, Jamie Mai, and Joel Greenblatt. Learned about Thames River—an incubator and seed investor in hedge funds, including Ken Griffin’s Citadel. The summary of lessons across all managers at the end was especially useful. Read the 2012 hardcover.
More Money Than God
Historical exploration of the hedge fund industry. This book details the origins, key players, their impact on the industry, and the role hedge funds played in the 2007-2009 financial crisis.
Great breakdown of hedge fund industry. Also read author's book The Power Law about VC industry. Read 2011 paperback.
The Power Law
Historical exploration of the venture capital (VC) industry. This book details the key players, their impact on the industry, and how VC has impacted innovation and economic growth.
Well researched. Best explanation of VC history I've read. Read 2022 hardcover.
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Working Backwards
A framework for operating and innovating like Amazon. Written by two longtime Amazon executives, this book offers a behind-the-scenes look at core mechanisms—like PR/FAQs, six-page memos, and single-threaded teams—that powered Amazon’s biggest breakthroughs, including AWS, Prime, and Kindle. It’s a practical guide to building customer-obsessed, scalable systems that drive innovation.
Read 2022 paperback
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Billion Dollar Loser
Biography of Wework and Adam Neumann. Describes Neumann's journey leading to founding Wework. Describes how the company's rapid growth period fueled by venture capital. Details rapid decline and ouster of Neumann.
Neumann's storytelling mesmerized investors and suspended reality. Read 2020 hardcover.
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Thinking in Bets
A framework for thinking probabilistically in uncertain situations, written by a former professional poker player who believes everyone can “think in bets” to make better decisions.
Read 2018 hardcover.
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The Price of Tomorrow
Jeff Booth's contrarian perspective on how monetary policy, debt, inflation, technology, and other topics work together.
Read 2020 paperback.
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Atomic Habits
A framework for using small daily habits and systems—rather than setting ambitious goals—to increase the likelihood that you will arrive at your desired destination. Clear outlines three levels of behavior change: outcomes (what you get), processes (what you do), and identity (what you believe). He emphasizes starting with the identity layer: belief-based habits that focus on the kind of person you want to be. Once you know who you want to be, it’s easier to back into what you need to do (process layer) to get the result you want (outcome layer).
Read this book as part of my EO forum. Good framework to think about systems and habits instead of goals. You can control what actions you take, but you can't always control outcomes. Read 2018 hardcover
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Blood and Oil
An investigative biography that traces how Crown Prince Mohammed bin Salman (MBS) rose to power and became the de facto ruler of Saudi Arabia. The book offers a rare and revealing look at his tactics and global ambitions.
I was fascinated by the cultural differences when I visited the Middle East and started following MBS closely in the news. Read 2020 hardcover.
Venture Deals
A beginner's guide to how venture capital deals are structured and negotiated—designed to help those unfamiliar with VC understand the mechanics behind fundraising and term sheets.
Read the 2019 hardcover (4th edition).
Angel
A practical guide to angel investing based on Jason Calacanis’s experience.It outlines his approach to sourcing and evaluating deals, check writing strategy, deal mechanics, and adding value to founders. Calacanis shows that angel investing isn’t random luck, but a strategic game of access and probabilities.
Great intro. Demystifies angel investing and shows how outsized success comes from strategy, not luck. Read 2017 hardcover.
Secrets of Sand Hill Road
A technical guide to how venture capital works, written by Scott Kupor of VC firm Andreessen Horowitz. Drawing on personal experience and investor perspectives, Kupor offers practical advice on pitching, negotiating term sheets, and building strong VC relationships—while revealing how venture capitalists think. For founders considering raising venture capital, it’s an invaluable playbook for understanding the rules before you step on the court.
Read 2019 hardcover.
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Bitcoin Billionaires
A biography of Tyler and Cameron Winklevoss, this book recounts their battle with Mark Zuckerberg over Facebook and the $20 million in cash plus $45 million in stock they received from the settlement. It follows how a chance introduction to Bitcoin in Ibiza in 2012 led them to invest early in the cryptocurrency. The story covers their involvement with Charlie Shrem and BitInstant, as well as their 2013 investment of roughly $11 million, which gave them an estimated 1% of all Bitcoin in circulation at the time.
Great story. The Winklevoss twins made a high-conviction, contrarian, asymmetrical bet on Bitcoin, much like a VC investment, that generated a massive fortune. The book provides good background on the Winklevoss family and their competitive nature. Read 2019 hardcover.
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The Mastermind
An investigative biography detailing how Paul Calder Le Roux went from a gifted software engineer to running a global online prescription drug empire from Manila, Philippines. A fascinating account of his rise, the inner workings of his dangerous international organization, and the DEA operation that finally brought him down.
Read 2019 hardcover.
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Unique Ability
This framework book explains how to discover your Unique Ability—the thing you do naturally, exceptionally well, and with little effort, yet others find difficult. A central exercise is writing to the people who know you best, asking for their perspective on what makes you unique. Their feedback helps uncover overlooked strengths that point directly to your Unique Ability.
Everyone has a unique talent that comes so naturally they don’t recognize how gifted they are. I used the letter-writing technique, sending it to 10 family members and friends. Those letters sparked some of the deepest and best conversations I’ve had with people close to me. Read 2003 paperback.
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American Pain
An investigative biography detailing the meteoric rise and fall of American Pain, Chris George’s Florida-based pill mill. Through this story, the book reveals how weak oversight and other factors fueled the opioid crisis, giving readers an inside view of pain clinics and the devastation they caused in America.
Eye-opening. Clear look at opioid crisis and pill mill business model. Read 2015 paperback.
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Hatching Twitter
An investigative biography of how Twitter was founded and rose to become a global communication platform. The book shows how luck, betrayal, and power struggles shaped one of the world’s most widely used technologies.
Read 2013 paperback.
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BLOW
An investigative biography of George Jung, who rose from a small-town Massachusetts kid to a major cocaine trafficker in the 1970s and 1980s, reporting directly to Pablo Escobar, the man who ran the notorious Medellín Cartel. Jung became a key figure in Escobar’s U.S. distribution network and amassed a fortune of over $100 million. The book details how he built his empire, the extravagant lifestyle it fueled, and how it all ultimately came crashing down.
One of my all-time favorite movies, so I had to read the book. A cautionary tale of entrepreneurial talent applied to the wrong problem and how the people around you shape your life’s trajectory. Read 2015 paperback.
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American Kingpin
An investigative biography of Ross Ulbricht, who founded and operated Silk Road, the largest online black market of its time for drugs and illegal services. It traces his transformation from physics graduate to “Dread Pirate Roberts,” embracing Bitcoin and even allegedly ordering murders to protect his empire. The narrative also follows how multiple federal agencies worked together to uncover his true identity and ultimately arrest him in a San Francisco library in 2013.
Fascinating story! Read 2018 paperback.
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Molly's Game
A memoir of Molly Bloom’s journey from Olympic skiing hopeful to running high-stakes underground poker games in Los Angeles and New York, and eventually being convicted of charges related to operating an illegal gambling business. The book reveals the one decision that made her game unlawful and captures her reflections on ambition, risk, and the consequences of her choices.
Read 2015 paperback.
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Bad Blood
An investigative biography of Theranos, the Silicon Valley blood-testing startup founded by Elizabeth Holmes. It describes how Holmes raised hundreds of millions from powerful backers and became a billionaire, even though the company’s technology didn’t work. The book reveals how the fraud was exposed, the company unraveled, and how Holmes ultimately was charged with fraud.
I followed this story closely in the Wall Street Journal as it unfolded, so I was excited to read the full account. Read 2018 hardcover.
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Billion Dollar Whale
An investigative biography of Jho Low and the $5 billion 1MDB fraud in Malaysia. The book reveals how Low, aided by accomplices including the Malaysian Prime Minister, funneled billions through Goldman Sachs bond deals and global banks to finance his extravagant lifestyle. With the stolen funds, he produced films like The Wolf of Wall Street and inserted himself into the circles of Wall Street bankers, Hollywood celebrities, and political elites. It chronicles how the scheme collapsed and how Low, despite international warrants, has so far avoided prison.
I followed the 1MDB scandal in the Wall Street Journal and couldn’t wait to read the full account. The story was fascinating and showed how shockingly simple some of the tactics were, yet they still worked. A well-researched, well-written recount of a once-in-a-lifetime crime. Read 2018 hardcover.
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Red Notice
A memoir by Bill Browder chronicling his rise as one of the largest foreign investors in post‑Soviet Russia through his firm Hermitage Capital. The book details his fight against corruption, the arrest and death of his lawyer Sergei Magnitsky, and the international campaign for justice that followed.
Read 2015 paperback
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The Frackers
A biography of fracking and how the technology transformed the U.S. oil industry and global energy markets. Zuckerman profiles key players like Harold Hamm (Continental Resources), Aubrey McClendon and Tom Ward (Chesapeake Energy), and Charif Souki (Cheniere Energy), showing how their bold bets on shale unlocked a new era in energy. Part biography, part business thriller, the book traces the rise of hydraulic fracturing and the entrepreneurs who embraced it.
Read 2014 paperback. Originally published in 2013
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The Smartest Guys in the Room
An investigative biography of Enron, the energy giant behind one of the largest U.S. bankruptcies. It details how executive decisions and accounting fraud led to the company’s collapse—along with its auditor, Arthur Andersen.
Originally published in 2003. Read 2013 10th anniversary paperback.
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Declutter Your Mind
A practical framework for gaining mental clarity by reducing mental clutter. The book outlines strategies across four key areas—thoughts, life obligations, relationships, and surroundings—to help you worry less, focus more, and cultivate a calmer mind.
Founder friend suggested this. Big takeaway was around creating the right environment and being selective with relationships. Read 2012 paperback.
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The Goal
A framework book on systems thinking and continuous improvement, taught through a business fable that introduces the Theory of Constraints.
Read 2012 paperback
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The Great Game of Business, Expanded and Updated
A framework book on open-book management (OBM). Through the story of a struggling company’s turnaround, the authors show that by treating employees like owners — teaching them how the business makes money, sharing financial transparency, and linking rewards to results — leaders can foster entrepreneurial thinking that drives long-term success.
Good framework on how to get employees to think and act like owners. Read 2013 paperback.
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Den of Thieves
Investigative biography of the 1980s junk bond scandal that explains how Michael Milken built a high-yield debt empire at Drexel Burnham Lambert—and how it collapsed. It also details the roles of Ivan Boesky, Martin Siegel, and Dennis Levine in the scheme.
Fascinating story. Read 1992 paperback.
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Principles
A framework book by Ray Dalio, founder of Bridgewater Associates, on developing a structured approach to thinking and acting effectively in both work and life. Filled with practical frameworks, charts, and personal stories, Dalio explains the methods Bridgewater used to build its culture of radical transparency and decision-making based on principles.
Popular framework book that delivers on its reputation. Offers practical principles for improving decision-making—both individually and organizationally. Read 2017 hardcover.
The Greatest Trade Ever
An investigative biography of how John Paulson's hedge fund made $20 billion by shorting the U.S. housing market during the 2007-2008 financial crisis. This book reveals how Paulson and his lieutenant Paolo Pellegrini identified the housing bubble, used credit default swaps to bet against it, and pulled off one of Wall Street’s greatest trades.
Great book. Goes deep into Paulson's trade and why the return was outsized. Paolo Pellegrini was the analytical genius that did a lot of the heavy lifting. Read 2010 paperback
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When Genius Failed
An investigative biography of the collapse of Long-Term Capital Management (LTCM), a hedge fund run by the smartest minds in finance—including Nobel laureates Myron Scholes and Robert Merton. This book details LTCM's strategy using complex quant models and heavy leverage. It describes how the Asian debt crisis and Russian debt defaults in 1998 sunk the firm and almost brought down the financial system.
LTCM's collapse was a major financial event. Great and detailed explanation of what happened and why. Read 2001 paperback.
The Big Short
Part investigative biography and part biographical anthology, this book explores the U.S. housing bubble that triggered the 2007–2008 financial crisis. Michael Lewis profiles contrarian investors — including Michael Burry, Steve Eisman, Greg Lippmann, and Charlie Ledley & Jamie Mai — who spotted the bubble early and made outsized returns by betting against it.
Read 2011 paperback
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Liar's Poker
A memoir about Michael Lewis’s time as a bond salesman at Salomon Brothers in the 1980s. The book reveals how Salomon pioneered many of Wall Street’s most lucrative products while fostering a ruthless, ego-driven culture fueled by money and excess. Lewis offers an insider’s view of how Paul Volcker’s policies turned bond markets into casino-like arenas, defining the Gordon Gekko “greed is good” era of finance.
Read 2010 paperback.
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Barbarians at the Gate
An investigative biography of KKR’s 1988 leveraged buyout (LBO) of RJR Nabisco. This book chronicles the dramatic race to complete what was then the largest LBO in history, revealing the behind-the-scenes battles, egos, and financial engineering required to assemble an enormous amount of borrowed money—capturing the atmosphere that defined the 1980s corporate takeover era.
Read 2009 paperback
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Black Edge
An investigative biography about Steven A. Cohen and his hedge fund, SAC Capital Advisors. This book details the insider trading scandal that led Cohen to shutter SAC and how the government built its case against one of Wall Street’s most powerful traders.
I followed this story for years in the Wall Street Journal. Read 2017 hardcover
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The Buy Side
An autobiography about Turney Duff’s rise and fall on Wall Street during the hedge fund boom of the late 1990s and 2000s. He shares his experiences at several firms, including the Galleon Group founded by Raj Rajaratnam, revealing the destructive behavior and excessive lifestyle that defined Wall Street at the time—and why he ultimately walked away from it all.
Read 2014 paperback.
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King of Capital
A biography about Steve Schwarzman and his co-founding of private equity powerhouse Blackstone Group. This book details how Schwarzman and his co-founder Peter Peterson pioneered buying companies using debt (leveraged buyouts). It also shows how the two helped Blackstone grow into a dominant firm that survived through rough economic periods.
Read 2012 paperback.
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The Luck Factor
A framework book that explores luck from a scientific perspective, explaining why it stems from mindset and behavior rather than randomness. It outlines the four principles that underpin luck and the psychological traits embraced by “lucky” people, concluding with practical steps anyone can use to cultivate a lucky mindset and attract more opportunities.
One of my favorite books. I'll reread this book yearly. Read 2004 paperback
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Chaos Monkeys
A memoir about a former Wall Street trader who becomes a Silicon Valley tech entrepreneur, joins Y Combinator, and sells his struggling startup to Facebook. Through his personal and professional journey, Martínez exposes the ruthless, high-pressure world of startups, venture capital, and big tech ambition.
Read 2016 hardcover.
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Business Adventures
A collection of twelve case studies that explore real-world business dramas, revealing how human behavior under pressure shapes decisions, drives performance, and ultimately determines success or failure in companies and markets.
Read 2015 paperback
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