The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)
The best-selling investing 'bible' offers new information new insights and new perspectivesThe Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold at very low cost a mutual fund that tracks a broad stock market Index such as the S&P 500.While the stock market has tumbled and then soared since the first edition of Little Book of Common Sense was published in April 2007 Bogle's investment principles have endured and served investors well. This tenth anniversary edition includes updated data and new information but maintains the same long-term perspective as in its predecessor.Bogle has also added two new chapters designed to provide further guidance to investors: one on asset allocation the other on retirement investing.A portfolio focused on index funds is the only investment that effectively guarantees your fair share of stock market returns. This strategy is favored by Warren Buffett who said this about Bogle: 'If a statue is ever erected to honor the person who has done the most for American investors the hands-down choice should be Jack Bogle. For decades Jack has urged investors to invest in ultra-low-cost index funds. . . . Today however he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me.'Bogle shows you how to make index investing work for you and help you achieve your financial goals and finds support from some of the world's best financial minds: not only Warren Buffett but Benjamin Graham Paul Samuelson Burton Malkiel Yale's David Swensen Cliff Asness of AQR and many others.This new edition of The Little Book of Common Sense Investing offers you the same solid strategy as its predecessor for building your financial future.* Build a broadly diversified low-cost portfolio without the risks of individual stocks manager selection or sector rotation.* Forget the fads and marketing hype and focus on what works in the real world.* Understand that stock returns are generated by three sources (dividend yield earnings growth and change in market valuation) in order to establish rational expectations for stock returns over the coming decade.* Recognize that in the long run business reality trumps market expectations.* Learn how to harness the magic of compounding returns while avoiding the tyranny of compounding costs.While index investing allows you to sit back and let the market do the work for you too many investors trade frantically turning a winner's game into a loser's game. The Little Book of Common Sense Investing is a solid guidebook to your financial future.
Social Engineering: The Science of Human Hacking 2nd Edition
Harden the human firewall against the most current threatsSocial Engineering: The Science of Human Hacking reveals the craftier side of the hacker's repertoire--why hack into something when you could just ask for access? Undetectable by firewalls and antivirus software social engineering relies on human fault to gain access to sensitive spaces; in this book renowned expert Christopher Hadnagy explains the most commonly-used techniques that fool even the most robust security personnel and shows you how these techniques have been used in the past. The way that we make decisions as humans affects everything from our emotions to our security. Hackers since the beginning of time have figured out ways to exploit that decision making process and get you to take an action not in your best interest. This new Second Edition has been updated with the most current methods used by sharing stories examples and scientific study behind how those decisions are exploited.Networks and systems can be hacked but they can also be protected; when the 'system' in question is a human being there is no software to fall back on no hardware upgrade no code that can lock information down indefinitely. Human nature and emotion is the secret weapon of the malicious social engineering and this book shows you how to recognize predict and prevent this type of manipulation by taking you inside the social engineer's bag of tricks.* Examine the most common social engineering tricks used to gain access* Discover which popular techniques generally don't work in the real world* Examine how our understanding of the science behind emotions and decisions can be used by social engineers* Learn how social engineering factors into some of the biggest recent headlines* Learn how to use these skills as a professional social engineer and secure your company* Adopt effective counter-measures to keep hackers at bayBy working from the social engineer's playbook you gain the advantage of foresight that can help you protect yourself and others from even their best efforts. Social Engineering gives you the inside information you need to mount an unshakeable defense.
Strategy Beyond the Hockey Stick: People Probabilities and Big Moves to Beat the Odds
Beat the odds with a bold strategyWe've all seen hockey stick business plans before. A future where results sail confidently upward but with a dip coinciding with next year's budget.CEOs usually rely on their experience and business smarts to figure out which of those hockey sticks are real and which are fake. But all too often getting to a 'yes' competing for resources and striving to claim credit cloud the hard decisions. Another strategy framework? No thanks we already have plenty of those and they don't fix the real problem: the social dynamics in your strategy room.Mining the data from thousands of large companies McKinsey Partners Chris Bradley Martin Hirt and Sven Smit open the windows of that room and bring an 'outside view.' They found three discrete groups of companies: the bottom quintile with massive economic losses; the long flat middle 60 percent with practically no economic profit; and the top 20 percent to whom all the value accrues.Some companies do achieve real hockey stick performance: but just 1-in-12 jump from the middle tier to the top over a ten year period. This does not happen by magic--there is an empirically-backed science to improve your odds of success by capitalizing on your endowment riding the right trends and most importantly making a few big moves.To make these big moves happen you're going to have to break through inertia gamesmanship and risk aversion. You're going to have to mitigate human biases and manage group dynamics. Eight practical shifts can help you do this and unlock bigger bolder better strategies.This is not another by-the-book approach to strategy. It's not another trudge through frameworks or small-scale case studies promising a secret formula for success. It's an irreverent fact-driven and humorous take on the real world of strategic decision making.
The Invincible Company: How to Constantly Reinvent Your Organization with Inspiration From the World's Best Business Models (Strategyzer)
The long-awaited follow-up to the international bestsellers Business Model Generation and Value Proposition DesignAlex Osterwalder and Yves Pigneurs' Business Model Canvas changed the way the world creates and plans new business models. It has been used by corporations and startups and consultants around the world and is taught in hundreds of universities. After years of researching how the world's best companies develop test and scale new business models the authors have produced their definitive work. The Invincible Company explains what every organization can learn from the business models of the world's most exciting companies.The book explains how companies such as Amazon IKEA Airbnb Microsoft and Logitech have been able to create immensely successful businesses and disrupt entire industries. At the core of these successes are not just great products and services but profitable innovative business models--and the ability to improve existing business models while consistently launching new ones.The Invincible Company presents practical new tools for measuring managing and accelerating innovation and strategies for reducing risk when launching new business models. Serving as a blueprint for your growth strategy The Invincible Company explains how to constantly stay ahead of your competition.In-depth chapters explain how to create new growth engines change how products and services are created and delivered extract maximum profit from each type of business model and much more. New tools--such as the Business Model Portfolio Map Innovation Metrics Innovation Strategy Framework and the Culture Map--enable readers to understand how to design invincible companies.The Invincible Company:* Helps large and small companies build their growth strategy and manage their core simultaneously* Explains the world's best modern and historic business models* Provides tools to assess your business model innovation readiness and all of your innovation projectsPresented in striking 4-color and packed with practical visuals and tools The Invincible Company is a must-have book for business leaders entrepreneurs and innovation professionals.
The Fearless Organization: Creating Psychological Safety in the Workplace for Learning Innovation and Growth
Conquer the most essential adaptation to the knowledge economyThe Fearless Organization: Creating Psychological Safety in the Workplace for Learning Innovation and Growth offers practical guidance for teams and organizations who are serious about success in the modern economy. With so much riding on innovation creativity and spark it is essential to attract and retain quality talent--but what good does this talent do if no one is able to speak their mind? The traditional culture of 'fitting in' and 'going along' spells doom in the knowledge economy. Success requires a continuous influx of new ideas new challenges and critical thought and the interpersonal climate must not suppress silence ridicule or intimidate. Not every idea is good and yes there are stupid questions and yes dissent can slow things down but talking through these things is an essential part of the creative process. People must be allowed to voice half-finished thoughts ask questions from left field and brainstorm out loud; it creates a culture in which a minor flub or momentary lapse is no big deal and where actual mistakes are owned and corrected and where the next left-field idea could be the next big thing.This book explores this culture of psychological safety and provides a blueprint for bringing it to life. The road is sometimes bumpy but succinct and informative scenario-based explanations provide a clear path forward to constant learning and healthy innovation.* Explore the link between psychological safety and high performance* Create a culture where it's 'safe' to express ideas ask questions and admit mistakes* Nurture the level of engagement and candor required in today's knowledge economy* Follow a step-by-step framework for establishing psychological safety in your team or organizationShed the 'yes-men' approach and step into real performance. Fertilize creativity clarify goals achieve accountability redefine leadership and much more. The Fearless Organization helps you bring about this most critical transformation.
The Design Thinking Playbook: Mindful Digital Transformation of Teams Products Services Businesses and Ecosystems
A radical shift in perspective to transform your organization to become more innovativeThe Design Thinking Playbook is an actionable guide to the future of business. By stepping back and questioning the current mindset the faults of the status quo stand out in stark relief--and this guide gives you the tools and frameworks you need to kick off a digital transformation. Design Thinking is about approaching things differently with a strong user orientation and fast iterations with multidisciplinary teams to solve wicked problems. It is equally applicable to (re-)design products services processes business models and ecosystems. It inspires radical innovation as a matter of course and ignites capabilities beyond mere potential. Unmatched as a source of competitive advantage Design Thinking is the driving force behind those who will lead industries through transformations and evolutions.This book describes how Design Thinking is applied across a variety of industries enriched with other proven approaches as well as the necessary tools and the knowledge to use them effectively. Packed with solutions for common challenges including digital transformation this practical highly visual discussion shows you how Design Thinking fits into agile methods within management innovation and startups.* Explore the digitized future using new design criteria to create real value for the user* Foster radical innovation through an inspiring framework for action* Gather the right people to build highly-motivated teams* Apply Design Thinking Systems Thinking Big Data Analytics and Lean Start-up using new tools and a fresh new perspective* Create Minimum Viable Ecosystems (MVEs) for digital processes and services which becomes for example essential in building Blockchain applicationsPractical frameworks real-world solutions and radical innovation wrapped in a whole new outlook give you the power to mindfully lead to new heights. From systems and operations to people projects culture digitalization and beyond this invaluable mind shift paves the way for organizations--and individuals--to do great things. When you're ready to give your organization a big step forward The Design Thinking Playbook is your practical guide to a more innovative future.
Bulletproof Problem Solving: The One Skill That Changes Everything
Complex problem solving is the core skill for 21st Century TeamsComplex problem solving is at the very top of the list of essential skills for career progression in the modern world. But how problem solving is taught in our schools universities businesses and organizations comes up short. In Bulletproof Problem Solving: The One Skill That Changes Everything you'll learn the seven-step systematic approach to creative problem solving developed in top consulting firms that will work in any field or industry turning you into a highly sought-after bulletproof problem solver who can tackle challenges that others balk at.The problem-solving technique outlined in this book is based on a highly visual logic-tree method that can be applied to everything from everyday decisions to strategic issues in business to global social challenges. The authors with decades of experience at McKinsey and Company provide 30 detailed real-world examples so you can see exactly how the technique works in action. With this bulletproof approach to defining unpacking understanding and ultimately solving problems you'll have a personal superpower for developing compelling solutions in your workplace.* Discover the time-tested 7-step technique to problem solving that top consulting professionals employ* Learn how a simple visual system can help you break down and understand the component parts of even the most complex problems* Build team brainstorming techniques that fight cognitive bias streamline workplanning and speed solutions* Know when and how to employ modern analytic tools and techniques from machine learning to game theory* Learn how to structure and communicate your findings to convince audiences and compel actionThe secrets revealed in Bulletproof Problem Solving will transform the way you approach problems and take you to the next level of business and personal success.
The Bitcoin Standard: The Decentralized Alternative to Central Banking
When a pseudonymous programmer introduced “a new electronic cash system that’s fully peer-to-peer with no trusted third party” to a small online mailing list in 2008 very few paid attention. Ten years later and against all odds this upstart autonomous decentralized software offers an unstoppable and globally-accessible hard money alternative to modern central banks. The Bitcoin Standard analyzes the historical context to the rise of Bitcoin the economic properties that have allowed it to grow quickly and its likely economic political and social implications. While Bitcoin is a new invention of the digital age the problem it purports to solve is as old as human society itself: transferring value across time and space. Ammous takes the reader on an engaging journey through the history of technologies performing the functions of money from primitive systems of trading limestones and seashells to metals coins the gold standard and modern government debt. Exploring what gave these technologies their monetary role and how most lost it provides the reader with a good idea of what makes for sound money and sets the stage for an economic discussion of its consequences for individual and societal future-orientation capital accumulation trade peace culture and art. Compellingly Ammous shows that it is no coincidence that the loftiest achievements of humanity have come in societies enjoying the benefits of sound monetary regimes nor is it coincidental that monetary collapse has usually accompanied civilizational collapse. With this background in place the book moves on to explain the operation of Bitcoin in a functional and intuitive way. Bitcoin is a decentralized distributed piece of software that converts electricity and processing power into indisputably accurate records thus allowing its users to utilize the Internet to perform the traditional functions of money without having to rely on or trust any authorities or infrastructure in the physical world. Bitcoin is thus best understood as the first successfully implemented form of digital cash and digital hard money. With an automated and perfectly predictable monetary policy and the ability to perform final settlement of large sums across the world in a matter of minutes Bitcoin’s real competitive edge might just be as a store of value and network for final settlement of large payments—a digital form of gold with a built-in settlement infrastructure. Ammous’ firm grasp of the technological possibilities as well as the historical realities of monetary evolution provides for a fascinating exploration of the ramifications of voluntary free market money. As it challenges the most sacred of government monopolies Bitcoin shifts the pendulum of sovereignty away from governments in favor of individuals offering us the tantalizing possibility of a world where money is fully extricated from politics and unrestrained by borders. The final chapter of the book explores some of the most common questions surrounding Bitcoin: Is Bitcoin mining a waste of energy? Is Bitcoin for criminals? Who controls Bitcoin and can they change it if they please? How can Bitcoin be killed? And what to make of all the thousands of Bitcoin knock-offs and the many supposed applications of Bitcoin’s ‘blockchain technology’? The Bitcoin Standard is the essential resource for a clear understanding of the rise of the Internet’s decentralized apolitical free-market alternative to national central banks.
Lopez de Prado M: Advances in Financial Machine Learning
Machine learning (ML) is changing virtually every aspect of our lives. Today ML algorithms accomplish tasks that until recently only expert humans could perform. As it relates to finance this is the most exciting time to adopt a disruptive technology that will transform how everyone invests for generations. Readers will learn how to structure Big data in a way that is amenable to ML algorithms; how to conduct research with ML algorithms on that data; how to use supercomputing methods; how to backtest your discoveries while avoiding false positives. The book addresses real-life problems faced by practitioners on a daily basis and explains scientifically sound solutions using math supported by code and examples. Readers become active users who can test the proposed solutions in their particular setting. Written by a recognized expert and portfolio manager this book will equip investment professionals with the groundbreaking tools needed to succeed in modern finance.
Testing Business Ideas: A Field Guide for Rapid Experimentation (Strategyzer)
A practical guide to effective business model testing7 out of 10 new products fail to deliver on expectations. Testing Business Ideas aims to reverse that statistic. In the tradition of Alex Osterwalder's global bestseller Business Model Generation this practical guide contains a library of hands-on techniques for rapidly testing new business ideas.Testing Business Ideas explains how systematically testing business ideas dramatically reduces the risk and increases the likelihood of success for any new venture or business project. It builds on the internationally popular Business Model Canvas and Value Proposition Canvas by integrating Assumptions Mapping and other powerful lean startup-style experiments.Testing Business Ideas uses an engaging 4-color format to:* Increase the success of any venture and decrease the risk of wasting time money and resources on bad ideas* Close the knowledge gap between strategy and experimentation/validation* Identify and test your key business assumptions with the Business Model Canvas and Value Proposition CanvasA definitive field guide to business model testing this book features practical tips for making major decisions that are not based on intuition and guesses. Testing Business Ideas shows leaders how to encourage an experimentation mindset within their organization and make experimentation a continuous repeatable process.
