The New Paradigm for Financial Markets - conclusions

The book itself is not very long, so I could finish it while coming back from Paris.
In the later part of the book Soros elaborates on his theory of reflexivity and how it helps in the understanding of the current financial crisis. The theory replaces traditional "equilibrium" theories that laid ground to strong market fundamentalisms - that claim that market are always right. He proves that sometimes they are not.....
The book concludes with interesting suggestions, addressed particularly toward market regulators. One of his propositions says that regulators should care more about credit expansions and not just about monetary face of financial system.

The book is great - a year ago I read Alchemy of Finance, but for me it was more technical, so I even did not dare to post a review here. The "New Paradigm" is different. It is intriguing and breathtaking.....

Last but not least - it's nice to hear Soros talking about the ideas and about the size of the crisis.
http://www.pbs.org/newshour/bb/business/jan-june08/soros_05-13.html

Reading while in Paris: Gorge Soros's "The New Paradigm"

"The New Paradigm for Financial Markets: The Credit Crash of 2008 and What It Means"

This is the book I started to read in Paris. It's quite different from my "holiday's readings" that you can see here. Soros analysis of what we perceive today as the financial crisis is deep. No question about that.

Traditionally, we think the current crisis is just "subprime" lending crisis. It is not. This is just the effect. The cause is deeper and has roots in processes and trends almost 10 years old.

Particularly I was intrigued by the conclusion that the cut of the rates of federal funds by Fed (from 6.5% to 3.5%) in the course of just few months of 2000, caused by Internet bubble, and the trend that get it down to 1% by 2003, has created a long term bubble in housing markets....
The examples he gives, are just breathtaking and almost unbelievable....

As in "Alchemy of Finance" he writes about his life's experiences and how thay influence his philosophy and activity. I know, Soros is controversial. But he explicitly says about the philosopher who was his master: Karl Popper. For this very reason I value Soros, as I'm also a pupil of Popper, and his Open Society ideas ....

I'm in the mid of the book now, I will write more when finished.

Shadow of the Wind - The Aftermath

Carlos Ruiz Zafón's The Shadow of the Wind is indeed a great and powerful novel. In addition to fantastic reading experience it offers a lot of philosophical and moral implications.
And all with a dose of good humor and in very imaginative way.
I also strongly advice to read/listen to Carlos' interviews. One of them (in English) is added to Audible.com audio version of the book.
What is interesting there is to discover how honest and humble to us, his readers is Carlos.

And, finally - all is about the Love ....

The Shadow of the Wind - Power of imagination - Power of Spirit

I started to read Carlos Ruiz Zafón's The Shadow of the Wind.
Increadible book. Imaginative and captivating. I promise to write more when I finish it - I hope in few days ...

Kate's Sepulchre - The After Reading Impressions

I finished it - mixed impressions ... Too many ghosts and devils but ... the plot's constructions and the implications (your family roots do matter ...) are the real values. Besides that - as I wrote before it was fantastic reading for vacations. The ending of the book - the book-in-the-book idea is used in a very good and unexpected way.

Finally - I gave my good recommendation for this book to all of you.

Four days of silence ....

I was outside any "connected world", outside any electronic books...
I was in total solitude canoeing on two wild rivers Bukowina and Łupawa in Northern Poland.
Pictures (about 300 ...) will come later.
The only things I was reading deep into the nights, against starry sky were: Tomer Devorah and Mesillat Yesharim by Moshe Luzzatto. At this moment I will not comment about these lectures ... Too deep feelings ....
After the silence I finished the Sepulchure (see next entry) and started to read "Shadow of the Wind" - the second after an advice from my beloved daughter.... See next entries ....

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Kate Mosse Sepulchre - good vacation reading

When I was in Paris recently it was hard not to notice the new Kate's novel adds. They were everywhere in Paris !!!
So when I was getting the book for my short holidays I selected Sepulchre - and it was good choice. I still read it so this is not final note about the book....
The book has two plots, which are quite long completely parallel and unrelated. One is in XIX century France for a French family, another in XXI France for American researcher. The plots meet at the same place - in Domaine de la Cade - a house in Rennes-les-Bains
(Carcassonne area). I have no final opinion yet - but - I can say - it is captivating story - just perfect for holiday relax. Tarot cards, connections to da Vinci Code, occultism and fascinating interplay of these two threads - modern and old - this makes it all.

btw, it was nice to read about Shakespeare & Co. bookstore in Paris - this is my favorite place in the city.

Thus Spoke Zarathustra

Started reading Nietzsche's "Thus Spoke Zarathustra" again. First reading maybe 30 years ago ...
Shocking experience to read it in your 50-ties....
I know he is not guilty for Nazi ideology, for all what was after him in Germany .... but....
The contempt he expressed for people (if the people are not super-something) is just amazing ....
Some parts are good literature - yes, but the final message we get from it is not what we find as just simply good ....
Well - do you have different opinions - your comments are welcomed !

Reading with a bit of good humor :-)

I just forgotten to make a post of my (two months ago) reading of A.J. Jacob's "The Year of Living Biblically". It is not quite serious book, and I'm glad to know that it was not meant to be serious.
But, as always, it has a grain of deep thoughts. What it could mean today to be a religious fundamentalists? Where and when people that claim to live biblically, do it with profound, deep faith, but when it is just lack of wisdom and common sense ?

Paradoxically, the book posts quite serious question (without giving an answer): if one want to live according to Torah (or Bible in broader sense) - what would it mean? Where banality ends and true virtue starts? What rules/commandments we need to follow literally and what allegorically ?

Honestly - I do not know the answer - and question remains - so it's good to ready funny, a bit unserious books sometimes ... and have more serious thoughts after .....

Saint Patrick of bitterness

I have read Philip Freeman's "St. Patrick of Ireland". Interesting account on the early history of Christianity and its connection to politics... However, two things haunt my thoughts after reading it. One is the recognition of the bitterness St. Patrick had to experience after his work in Ireland. Charged of some sort of bribe or using money in his mission he had to explain and justify something that most probably was just a common method in his otherwise clean and chaste, mission. These events show that that such bitterness is often inextricably connected to all missions, political, religious, social.... What happened to Walesa in his native Poland around mid of 2008 .....

The second thought is the apparent attempt of the author (Philip Freeman) to distance himself from another author writing of Patric - Thomas Cahill (see "How the Irish Saved Civilization") (and my early post about it). In some part of the book, he writes: "Irish did not saved civilization, civilization saved itself" (I'm not sure now about the exact wording, but the meaning is certainly true). Does Freeman try to be less pathetic ? Maybe I need to return to Thomas's book again ....