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Recommended Reading

We're pleased to offer some LongVue staff picks for thought-provoking reading on a variety of investment and wealth-related topics. We'd love to add your favorites to this list - along with your editorial comments. Please e-mail Randy (one of our most avid readers) with your thoughts.

Wealth & Families :: Economics and the Markets :: Portfolio Management
Philanthropy :: Behavioral Finance & Human Behavior :: Estate Planning
Lessons from History :: Miscellaneous

Wealth & Families

The Blessings of a Skinned Knee - Using Jewish Teachings to Raise Self-Reliant Children
Wendy Mogel, Ph.D.
Another highly recommended book on raising children, this one is not as dark as some. Whatever your religion, if you are a parent of young children, we think you will appreciate this book's wonderful insights and suggestions for raising self-reliant offspring.

Children of Paradise, Successful Parenting for Prosperous Families
Lee Hausner, Ph.D.

Choking on the Silver Spoon: Keeping your Kids Healthy, Wealthy and Wise in a Land of Plenty
Gary W. Buffone, PH.D.
This is undoubtedly one of the most honest of the many books we've read on this topic. In our opinion, it's also the best. It's light and easy to read, funny and sad, and filled with practical advice and tips that we think all parents should consider.

Credit, Cash & Co-Dependency:  How the Way You Were Raised Affects Your Decisions About Money 

Yvonne Kaye, Ph.D., M.S.C.

Anyone addicted to debt, spending or hoarding will find many insights and helpful suggestions in this short but powerful book by a therapist with her own self-professed, deep-rooted money problems.

Family: The Compact Among Generations
Jim E. Hughes, Jr.
One of the most influential writers and counselors of our times explores a critical topic: What enables some families to succeed and thrive in spite of great wealth when most, as we sadly know, fail? This is not a light read and not all of his strategies are right for every family, but anyone hoping to avoid the old adage of “shirtsleeve to shirtsleeve in three generations” would do well to read, and reread, this book.

The Inheritor’s Sherpa:  A Life-Summiting Guide for Inheritors

Myra Salzer

This insightful guide addresses the personal challenges of inheriting wealth. It provides practical tools and exercises for learning to take control of your wealth, dealing with your family and creating your own legacy - as well as advice for dealing with specific situations such as dating. 

Money Demons – Keep Them From Sabotaging Your Relationships and Your Life

Dr. Susan Forward and Craig Buck 

Written by a therapist who has faced her own money demons, this book addresses destructive behaviors such as over-spending, hoarding, and compulsive gambling.  It also explores problems specific to women, including stresses created when woman make more than their partners, and living with and enabling money-reckless men. As we have always said - and the authors ably demonstrate - most such problems are not about the money.

Navigating the Dark Side of Wealth: A Life Guide for Inheritors
Thayer Cheatham Willis
This is an excellent but rather dark book, and some may be offended by the strong religious overtones. However, readers struggling with how to raise children in a too plentiful world will find it insightful. Born into great wealth and now a counselor, Thayer shares her own experiences and insights as well as stories about her clients.

Raising Financially Fit Kids
Joline Godfrey
Godfrey’s practical suggestions for raising financially responsible children will be particularly helpful to parents trying to prevent their own success from hurting rather than helping their children. The topics she covers, such as saving, keeping track of money, spending wisely, living on a budget, investing, handling credit responsibly, and using money to help others make sense for children of all ages.
The Soul of Money - Reclaiming the Wealth of our Inner Resources
Lynne Twist
This unusual book delves into the inner workings of money and the human mind. Twist argues that money, a human invention and a mere tool, can be harmful, destructive or wonderful. Not surprisingly, she asserts that, "true wealth, or well-being, can't be found in a static balance sheet, no matter how large the accumulation of financial assets."

Wealth in Families
Charles W.Collier
This is the best book we have read about dealing with the opportunities and challenges wealthy families face. Collier interviews other experts and uses Harvard examples to highlight the importance of meaningful family conversations. Don't miss this classic.

Economics and Markets

Against the Gods: The Remarkable Story of Risk
Peter L. Bernstein
This is a fascinating analysis of how probability theory plays a role in virtually all aspects of our lives.

Bull: A History of the Boom and Bust, 1982-2004
Maggie Mahar

A Demon of our own Design: Markets, Hedge Funds and the Perils of Financial Innovation.
Richard Bookstaber
Bookstaber’s vivid and scary portrait of Wall Street postulates that the very financial innovations that were supposed to lead to more effective risk management and a safer economy have in fact led us to the brink of a financial crisis. Written in 2007, this is prescient indeed.

The Essays of Warren Buffett: Lessons for Corporate America
Warren E. Buffett
This excellent compilation of essays and annual letters by Warren Buffet includes witty and amusing writings on rather dry topics such as investment philosophy, accounting, managing, capital allocation and corporate governance.

Fischer Black and the Revolutionary Idea of Finance
Perry Mehrling

Fortune Favors the Bold, What We Must Do to Build a New and Lasting Global Prosperity
Lester Thurow

Freakonomics : A Rogue Economist Explores the Hidden Side of Everything
Steven D. Levitt and Stephen J. Dubner
This is a quick and fun read about how numbers can be used to prove anything. Topics include: the reasons for declining crime rates; why drug traffickers are mostly poor; how school choice influences the academic achievements of kids, and many more. The book is over-simplified and very light; and we don't think the authors always prove their case, but this is probably the quickest and most entertaining book on economics one will ever find.

Hedge Hogging
Barton Biggs
This is one of the best books we have read on the subject of money managers in general and hedge fund specialists in particular. Biggs is a long time Morgan Stanley executive, and hedge fund guy himself. The book moves between ancient history and modern times, factual and fictional characters. We found it immensely entertaining as well as enlightening about this rather esoteric field. We think you will too.

Hot Commodities : How Anyone Can Invest Profitably in the World's Best Market
Jim Rogers

In an Uncertain World: Tough Choices from Wall Street to Washington
Robert E. Rubin and Jacob Weisberg
The book is a great read on politics, economics, and the inner workings of the White House under Clinton. The stories about the Asian debt crisis and the long-term capital debacle make this a wonderful addition to anyone's must-read list.

Just One Thing:  Twelve of the World’s Best Investors Reveal the ONE Strategy You Can’t Overlook

John Mauldin, Editor

Mauldin, a veteran investment writer, solicited feedback from some of the world’s top investors to write this book.  Most chapters are quick, light and very illuminating - especially in these turbulent times.  Our favorite chapter (of course) is on investing psychology, but we encourage you to read them all.

The New Paradigm for Financial Markets
George Soros
Any book that postulates that this is the worst financial crisis since the Great Depression makes for very heavy reading. The first half of the book, in which Soros articulates his Theory of Reflexivity, is dense indeed, even for us former economics and philosophy students. Yet the book is worth reading, especially the section called “Autobiography of a Successful Speculator.” Soros’ insightful retrospective on the past 50 years of financial history and explanation of bubbles (including the scary new “super bubble”) should not be missed.

The Panic of 1907: Lessons Learned From the Market’s Perfect Storm  

Robert F. Bruner and Sean D. Carr

It's shocking to believe that a hundred years after the panic of 1907, so much remains to be written and learned about it. The parallels of that storm and the one we are experiencing in 2008 are very disturbing.   Maybe if we all read enough history, or even the last chapter of this book called "Lessons," we will all finally learn from our past mistakes.

The Subprime Solution:  How Today’s Global Financial Crisis Happened, and What to Do about It

Robert J. Shiller 

This small but powerful book does exactly what the sub-title promises. Shiller’s explanation of how we got into the financial crisis of 2008 is short, sweet and undeniable.  His proposals for getting out of it are somewhat radical, and deserve consideration.  They include subsidies for providing financial advice to low-income Americans, home equity insurance and income-linked loans.

The Templeton Touch
William Proctor
This is the story of one of the most astute investors of our times - a quick but thorough read on Templeton's investment principles and philosophy. We especially like his time-tested maxims of the "Templeton Touch."

The Trillion Dollar Meltdown

Charles R. Morris

This fascinating, easy-to-read history of the current market crisis begins in the 70’s and ends in our troubling times in 2008. Morris’ suggestions for a solution, startling to those schooled in the free markets, are certainly worthy of consideration.

When Genius Failed: The Rise and Fall of Long-Term Capital Management
Roger Lowenstein
A riveting tale of what went terribly wrong at a hedge fund run by Nobel Prize winners. A true must-read for anyone in the investment business. There may never be a greater tale of hubris and greed! We hope so at least.


When Markets Collide
Mohamed El-Erian
Written by the co-CEO and co-CIO of PIMCO and the former CEO of Harvard Management Company, this book gives a clear, concise analysis of the factors that produced the financial crisis of 2008. It also offers an action plan for policy makers designed to help us learn from our mistakes and prevent history from repeating itself.

The Winning Investment Habits of Warren Buffet & George Soros
Mark Tier
In this quick and fascinating read, Tier analyzes two brilliant and radically different investors, Soros and Buffet, using their styles to ascertain what works and what goes terribly wrong for investors. If you're short on time, just read the chapter called the "Seven Deadly Investment Sins."

Portfolio Management

The Art of Asset Allocation: Asset Allocation Principles and Investment Strategies for Any Market
David M. Darst

Asset Allocation: Balancing Financial Risk
Roger C. Gibson

Basics of Asset Allocation
Dearborn Financial Publishing Staff

Investment Manager Analysis: A Comprehensive Guide to Portfolio Selection, Monitoring and Optimization
Frank J. Travers

The Little Book that Saves your Assets:  What the Rich Do to Stay Wealthy in UP and Down Markets.

David Darst

If you only have time to read one book on asset allocation, read this one. Darst, an industry veteran from Morgan Stanley and Goldman Sachs, simplifies basic investing rules but does not dumb them down.  This book is really a “must read” for those new and old to this field.  

Managing a Family-Fixed Income Portfolio
Aaron S. Gurwitz

Searching for Alpha:The Quest for Exceptional Investment Performance
Ben Warwick
An easy and entertaining read on normally dry topics such as modern portfolio theory (which is, of course, no longer modern), behavioral finance, index investing, and risk arbitrage. The book also covers topics such as the origin of professional football, the Civil War and whaling.

Security Analysis
Benjamin Graham and David L. Dodd

Simple Asset Allocation Strategies
Roger Gibson

Simple but Not Easy

Richard Oldfield

Oldfield, an established investment manager, says that his book aims to provide “a commonsensical approach to investing, stripped of mystery and as far as possible of jargon.” We are glad to report his book does just that. In addition, he tells you what to look for when choosing a money manager and provides valuable insights into common mistakes, some of them his, in the field of investing.

Behavioral Finance & Human Behavior

Behavioural Investing:  A Practitioner’s Guide to Applying Behavioural Finance. 

James Montier    

Written by one of the grandfathers of behavioral finance, we consider this the definitive book about the intersection of human psychology and investing. Don't be fooled by the book's length and text-book appearance; the chapters are quick reads.  We especially liked the "Seven Sins of Fund Management," "Common Mistakes and Basic Biases" and the sections on value investing.  

The Black Swan: The Impact of the Highly Improbable
Nassim Nicholas Taleb
To quote from The NY Times: "The hubris of predictions - and our perpetual surprise when the not-predicted happens - are themes of Nassim Nicholas Taleb's engaging new book, The Black Swan. It concerns the occurrence of the improbable, the power of rare events and the author's lament that "in spite of the empirical record we continue to project into the future as if we were good at it." We expect all swans to be white and are shocked when a black swan swims by. (April 22, 2007)

Extraordinary Popular Delusions & the Madness of Crowds
Charles Mackay
Written in 1841, this book is as relevant today as when it was written. The chapters on the tulip mania of 1634 and the South Sea bubble are very insightful, and very scary.

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets, Second Edition
Nassim Nicholas Taleb
This is a great discussion by a hedge fund manager about how luck plays a vital role in all aspects of our lives - and how numbers really do lie.

Inside the Investor’s Brain: The Power of Mind over Money
Richard L. Peterson
We can’t read enough on the topic of how our ancestral brains may have gotten us to the 21st century but are ill-equipped for the world in which we live - and most especially for the financial markets in which we invest. Peterson, like Gilbert, Burhnam and others on this list, provides insights into the science of why we think the way we do. This may be heady stuff but he makes it accessible and fun for the non-scientists among us.

Mean Markets and Lizard Brains. How to Profit from the New Science of
Irrationality.

Terry Burnham
Like the other books in this category, Mean Markets and Lizard Brains explores the irrationality of human behavior. As the book jacket says, "this broad and scholarly investigation provides an in-depth look at why manias, panics and crashes occur and how you can profit from this knowledge." (What could be more timely in the Spring of 2008?)

More Than You Know: Finding Financial Wisdom in Unconventional Places
Michael J. Mauboussin
What does the development of human neural networks have to do with investing and markets? Everything, according to Mauboussin. The synaptic winnowing that occurs between birth and age three is an evolutionary survival process. To Mauboussin, though, it holds additional meaning: It's similar to what happens when a new industry emerges. This fun read draws investing insights from a wide range of scholarly disciplines, from cognitive science to fractal mathematics.

Nudge

Richard H. Thaler and Cass R. Sunstein

Building on the work of other behavioral economists, Thaler and Sunstein provide some interesting insights into human behavior – and why our mistakes make us less wealthy, less healthy and less happy.  The book breaks new ground in its suggestions about how we and the government can use these behavioral patterns to ‘nudge’ people towards making correct choices about critical issues such as health care, mortgages, retirement savings, saving the planet, and even organ donation.

The Number
Lee Eisenberg
A light-hearted book, similar to Blink and Freakeconomics, this book presents a different way to think about retirement. You can read this and decide if you are a procrastinator, plucker, plotter or prober, or you can just read this for some fun and some insights into one of our favorite topics, human behavior.

Predictably Irrational. The Hidden Forces that Shape our Decisions.
Dan Ariely
Ariely, an MIT behavioral economist, takes us through experiment after
experiment to illustrate that humans are not rational. We consistently
overpay, underestimate and procrastinate among other things. Ariely asserts that such behaviors are not random. They are indeed predictable, and can therefore be understood and perhaps even controlled.

Simple Wealth, Inevitable Wealth
Nick Murray, revised third edition.
You can forget about the other books that delve into why we all behave the way that we do, and just read this. Murray’s amusing and insightful book lays out the basic behaviors that will lead to good investing, and to prudently growing or maintaining your wealth.

Stumbling on Happiness
Daniel Gilbert
As the book jacket says, this is a "brilliant, witty and accessible book" that "describes the foibles of imagination and illusions of foresight that cause each of us to misconceive our tomorrows and misestimate our satisfactions." We hope you enjoy it as much as we did.
What Works on Wall Street

James O'Shaughnessy
In this exploration of how human emotions foil rational decision making, O'Shaughnessy asserts that "Successful investors do not comply with nature, they defy it."

Your Money & Your Brain
Jason Zweig
Zweig recants the normal behavioral finance mantras, but (unlike other authors we have read on this topic) he explains the science behind why we do what we do. Science aside, it's an excellent overview of humans and their money - and may even make you a better investor!

Estate Planning

Best Intentions: Ensuring That Your Estate Plan Delivers Both Wealth and Wisdom
Colleen Barney, Esq. and Victoria Collins, Ph.D., CFP
This wonderful book is told from the point of view of heirs who inherit money. It really explains how people interpret wills from a personal point of view, and provides fascinating insights into this very complicated topic.

Beyond Death & Taxes, A Guide to Total Wealth Control
Gregory Englund
If you're mystified by the alphabet soup often used in the estate planning field, this helpful book will set you straight. In an easy to understand manner, the author guides the reader through general planning concepts as well as specific techniques.

Beyond the Grave: The Right Way and the Wrong Way of Leaving Your Money to Your Children (And Others)
Gerald M. Condon, Esq.and Jeffrey L. Condon, Esq.

Life is Short, Art is Long. Maximizing Estate Planning Strategies for
Collectors of Art, Antiques, and Collectibles.

Michael Mendelsohn
Highly recommended for any collector, this book offers valuable suggestions for both collecting and disposing of a collection for estate or other reasons. LongVue focuses on many of the estate planning strategies described in this book, but the true collector will find much more of value here.

Philanthropy

Classified: How to Stop Hiding Your Privilege and Use it for Social Change.
Karen Pittelman and Resource Generation
This “guide” for young people with wealth is apropos for all ages. Complete with comics, exercises and personal stories, it may help affluent readers come to terms with their privilege and marshall their resources to create social change.
The Foundation: A Great American Secret. How Private Wealth is Changing the World
Joel Fleishman
Anyone who currently has a Foundation, or is considering setting one up, should consider reading Fleishman's book about the usually secret world of private foundations. He explains the history of American foundations, acknowledges their most successful practices, and gives criticism where criticism is due.

Generations of Giving
Kelin Gersick
For lessons in philanthropy and best practices for running a foundation, Gersick's book is excellent. Highlighting 30 family foundations, he addresses many critical questions such as how to effectively structure your philanthropic giving, and how to involve the younger generation.
Just Money: A Critique of Contemporary American Philanthropy

Edited by H. Peter Karoff


Money Well Spent:  A Strategic Plan for Smart Philanthropy 
Paul Best and Hal Harvey.

If you’re interested in moving beyond “check-book charity” to become a strategic, high-impact philanthropist, we highly recommend this book. By asking more questions than it answers, it will give you the tools and language to consider philanthropy in a new light.


Philanthropy Heirs and Values, How Successful Families are Using Philanthropy to Prepare their Heirs for Post-Transition Responsibilities
Roy Williams and Vic Preisser
We highly recommend this book for those who want to learn how to successfully use philanthropy to teach your children. Using information gathered through interviews with over 3000 affluent families who transitioned their wealth, the authors focus on the differences between successful and unsuccessful heirs. The bad news is that they find no correlation between post-transition failure and tax laws, geography, culture or other economic parameters. The good news is that this book provides valuable insights into what has worked for other families.

Raising Charitable Children
Carol Weisman
This practical, quick read addresses how and when parents should get their children involved in charity. The author gives real life examples of projects big and small for families with very young children, to start teaching them about the "warmth that comes from giving more than receiving."

Three Cups of Tea: One Man's Mission to Promote Peace One School at a Time.
Greg Mortenson and David Oliver Relin
Greg Mortenson, a former mountain climber, has dedicated his life to improving education in Pakistan and Afghanistan, building one school at a time with local materials and labor backed by small international donations. Mortenson's grassroots work in a troubled and critical part of the world is an inspiring example of how one person with limited resources can have a huge impact on individual lives - while building cross-cultural trust and friendship.


Working Across Generations:  Defining the Future of Nonprofit Leadership 
Frances Kunreuther, Helen Kim and Robby Rodriguez

Anyone interested in a career in the not-for-profit world would enjoy this book.  By focusing on generational shifts that pertain to both for-profit and not-for-profit sectors, the authors provide interesting insights into upcoming leadership changes in both arenas.

The World We Want – New Dimensions in Philanthropy and Social Change
Peter Karoff
Peter Karoff, a nationally recognized expert in the field of philanthropy and founder of Boston’s Philanthropic Initiative (TPI), shares stories of successful American philanthropists. He crafts an inspiring, motivational vision of how philanthropy can be used to create a better world.

Lessons from History

Alexander Hamilton
Ron Chernow
Ok, so you can tell we are Chernow fans. Love Hamilton or hate him, this book tells a fascinating story of one of our founding fathers in particular, and all of them in general. If you have not read about the history of the United States since high school, we highly recommend this biography as an entertaining and insightful refresher.

American Theocracy
Kevin Phillips
Parts of this gloomy and controversial book will be of interest to both Democrats and Republicans. While drawing numerous parallels to fallen empires, Phillips argues that: (1) the US has a reckless dependency on shrinking oil supplies; (2) we are living in the midst of right-wing Christian fundamentalism and (3) we are overly reliant on debt and the financial services industry. We find the third premise the most realistic - and most disturbing.

Benjamin Franklin, An American Life
Walter Isaacson
Along with intimate details about this remarkable inventor, diplomat, writer, publisher, ladies man and statesman, you'll learn a lot about the early history of our nation. This engaging biography about the man who "...snatched lightning from the sky and the scepter from the tyrants" is sure to please.

The Defining Moment: FDR's Hundred Days and the Triumph of Hope
Jonathan Atler
Like FDR's politics or hate them, this is a gripping book about a fascinating man and a fascinating time. It mainly concerns FDR's first 100 days in his presidency, and captures the desperation of the Great Depression. For those who were fortunate to not live through those times, this story is critical to understanding our past as well as our future.

Einstein: His life and universe
Walter Isaacson
Like all great biographies, this one tells the story of both a man and his times. Given that the man is Albert Einstein, a genius who helped usher in the modern age, this is a particularly fascinating story.

The Forgotten Man:  A New History of the Great Depression

Amity Shlaes 

This thoughtful and fascinating account is particularly relevant in our current economic times.  Shlaes, a former Wall Street Journalist, has a knack for bringing the distressing events of the Great Depression alive, and making this book one you won’t want to put down.  

Founding Mothers
Cokie Roberts
In her distinct, conversational (and unabashedly opinionated) voice, Cokie Roberts draws on thousands of original letters and documents to re-introduce us to dozens of extraordinary women we know so little about from history textbooks – including Martha Washington, Eliza Pickney and Abigail Adams to name a few. Despite lacking official economic or political power (including the right to vote) these courageous and often feisty women had a huge impact during the fragile, often precarious early years of our fledgling nation. It is light, breezy, most enjoyable and highly recommended.


Franklin and Lucy: President Roosevelt, Mrs. Rutherfurd and the Other Remarkable Women in his Life
Joseph Persico
History fans looking for the highly unusual will want to put this on their list. And for anyone as fascinated by FDR as we are, this book serves up unique insights into the times, the man, his accomplishments and the various women in his life.

The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance
Ron Chernow

The Last Tycoons: The Secret History of Lazard Freres & Co.
William Cohan
As one reviewer said, "The Last Tycoons is a tale of vaulting ambitions, whispered advice, worldly mistresses, fabulous art collections, and enormous wealth - a story of high drama in the world of high finance." But, beware: We listened to the abridged CD and even then found it long and laborious at times.

The Lost: A Search for Six of Six Million
Daniel Mendelsohn
The Lost is the story of one person's search for family members killed in the Holocaust. This beautifully written book is more than a deeply personal account; it also tells the history of one of the most tragic events of modern times.

Mellon: An American Life
David Cannadine
One could never say that Mellon led a traditional American life, but his enigmatic life was indeed fascinating. Cannadine does a stellar job of telling the tale of Mellon's successful career and his very troubled family life.

Mornings on Horseback: The Story of an Extraordinary Family, and the Unique Child who Became Theodore Roosevelt.
David McCullough
This is a brilliant biography of the young Teddy Roosevelt, struggling with numerous medical ailments, traveling to Europe with his family, losing the love of his life, living the cowboy life, and eventually returning to New York to embark on adult-hood.

No Ordinary Time: Franklin and Eleanor Roosevelt: The Home Front in WWII
Doris Kearns Goodwin
Doris Kearns Goodwin writes one of the best biographies we have read, capturing a fascinating time as well as the lives of the Roosevelts and their close circle. This is a wonderful, rich, fantastic book - sure to please any history lover.

Personal History

Katharine Graham

After her husband, Philip Graham, committed suicide after a long struggle with mental illness, Katherine Graham assumed publishership of The Washington Post and control of a Fortune 500 company, surprising many with her bold and competent leadership.  This wonderful memoir tells her personal story while exploring the roles her paper played in many events that shaped the 20th century - including The Pentagon Papers and Watergate.

The River of Doubt: Theodore Roosevelt's Darkest Journey.
Candice Millard.
This is more than a splendid story of a journey into the darkest depths of the Amazon rain forest. It is also the gripping tale of Teddy Roosevelt's courage and strength; it was truly a fight for his life, and few thought he would win.

Titan: The Life of John D. Rockefeller, Sr.
Ron Chernow

Truman
David McCullough
This story starts in 1884, and ends in the time of rockets to the moon. Truman's childhood, rise to the presidency, and the dramatic events during his time in office form a riveting biography of a fascinating man - told by a master storyteller/historian.

Walt Disney, The Triumph of the American Imagination
Neal Gabler
Walt Disney's life is the tale of a dreamer, a poor businessman who made it rich and changed the world in the process. This is an engrossing and enjoyable story for anyone interested in business and history - and the leaders who shaped both.

What Marie Antoinette Wore to the Revolution; Queen of Fashion
Caroline Weber
Combining fashion and French history is undoubtedly a stroke of genius. For those who love fashion and French culture, this is a must read.

Miscellaneous

The Innovators Dilemma
Clayton M. Christensen
Although you won’t see many business books on the LongVue reading list (we’ll leave that list to our respected business colleagues), we were captivated by this bestseller by Harvard professor Clayton M. Christensen. He explains how outstanding companies can do everything right and still lose their market leadership and how, in fact, the very attributes that make them successful today create their failure tomorrow.

It's Not About the Bike: My Journey Back to Life
Lance Armstrong
Stories about biking, or even sports, would not make this list despite our being fans of both. Lance Armstrong's memoir is neither; it is a story of life, death, cancer, family, friendships and triumph. It will be quickly read, but not forgotten.

King Lear
William Shakespeare
What can we say? When we re-read this classic after 20 years, we found it brought entirely new insights. Certainly worth another read - or a first if you never read it.

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