This book is not what I expected; it’s still very good. Let me explain, and it will give you a better flavor of the book.
Carlson Capital's Black Diamond Arbitrage Partners fund added 1.3% net fees in the first quarter of 2021, according to a copy of the firm's March 2021 investor update, which ValueWalk has been able to review. Q1 2021 hedge fund letters, conferences and more At the end of the quarter, merger arbitrage investments represented 89% of Read More
The author, Jason Zweig, is one of the top columnists writing about the markets for The Wall Street Journal. He is very knowledgeable, properly cautious, and wise. The title of the book Ambrose Bierce’s book that is commonly called The Devil’s Dictionary.
There are three differences in style between Zweig and Bierce:
- Bierce is more cynical and satiric.
- Bierce is usually shorter in his definitions, but occasionally threw in whole poems.
- Zweig spends more time explaining the history of concepts and practices, and how words evolved to mean what they do today in financial matters.
If you read this book, will you learn a lot about the markets? Yes. Will it be fun? Also yes. Is it enough to read this and be well-educated? No, and truly, you need some knowledge of the markets to appreciate the book. It’s not a book for novices, but someone of intermediate or higher levels of knowledge will get some chuckles out of it, and will nod as he agrees along with the author that the markets are a treacherous place disguised as an easy place to make money.
As one person once said, “Whoever called them securities had a wicked sense of humor.” Enjoy the book; it doesn’t take long to read, and it can be put down and picked up with no loss of continuity.
Summary / Who Would Benefit from this Book
If you have some knowledge of the markets, and you want to have a good time seeing the wholesome image of the markets skewered, you will enjoy this book. if you want to buy it, you can buy it here: The Devil’s Financial Dictionary.
Full disclosure: The author sent a free copy to me via his publisher.
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