Books about Perspectives from Amazon.com

These bestselling excerpts from Stephen Windwalker's forthcoming book are a Kindle owner's dream, now over 25,000 words in length and newly packed with great tips such as Using Google Reader to Read Blogs on the Kindle, How to Use the Kindle for Email, Optimizing Your Use of Kindle Search, Projecting a Kindle Future, Writing and Note Taking on Your Kindle, Using "Locations" to Figure Out How Close You Are to the End of a Kindle Edition, Making the Most of Your Kindle Connections Overseas or in a Sprint Wireless Dead Zone, Using the Kindle as a Travel Guide, Using the Kindle to Translate Foreign or Technical Words and Phrases, Refresh Revised Content At No Charge, Kindle Accessories, and Care and Feeding of Your Kindle Battery. Readers may update this content at any time through Amazon's "Your Media Library" feature. The forthcoming book will be available **at no additional charge** as an upgrade to readers who have already purchased these excerpts when published in its entirety later in 2008..
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Bestselling author Nassim Nicholas Taleb continues his exploration of randomness in his fascinating new book, The Black Swan, in which he examines the influence of highly improbable and unpredictable events that have massive impact. Engaging and enlightening, The Black Swan is a book that may change the way you think about the world, a book that Chris Anderson calls, "a delightful romp through history, economics, and the frailties of human nature." See Anderson's entire guest review below.

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Guest Reviewer: Chris Anderson

Chris Anderson is editor-in-chief of Wired magazine and the author of The Long Tail: Why the Future of Business Is Selling Less of More.

Four hundred years ago, Francis Bacon warned that our minds are wired to deceive us. "Beware the fallacies into which undisciplined thinkers most easily fall--they are the real distorting prisms of human nature." Chief among them: "Assuming more order than exists in chaotic nature." Now consider the typical stock market report: "Today investors bid shares down out of concern over Iranian oil production." Sigh. We're still doing it.

Our brains are wired for narrative, not statistical uncertainty. And so we tell ourselves simple stories to explain complex thing we don't--and, most importantly, can't--know. The truth is that we have no idea why stock markets go up or down on any given day, and whatever reason we give is sure to be grossly simplified, if not flat out wrong.

Nassim Nicholas Taleb first made this argument in Fooled by Randomness, an engaging look at the history and reasons for our predilection for self-deception when it comes to statistics. Now, in The Black Swan: the Impact of the Highly Improbable, he focuses on that most dismal of sciences, predicting the future. Forecasting is not just at the heart of Wall Street, but it's something each of us does every time we make an insurance payment or strap on a seat belt.

The problem, Nassim explains, is that we place too much weight on the odds that past events will repeat (diligently trying to follow the path of the "millionaire next door," when unrepeatable chance is a better explanation). Instead, the really important events are rare and unpredictable. He calls them Black Swans, which is a reference to a 17th century philosophical thought experiment. In Europe all anyone had ever seen were white swans; indeed, "all swans are white" had long been used as the standard example of a scientific truth. So what was the chance of seeing a black one? Impossible to calculate, or at least they were until 1697, when explorers found Cygnus atratus in Australia.

Nassim argues that most of the really big events in our world are rare and unpredictable, and thus trying to extract generalizable stories to explain them may be emotionally satisfying, but it's practically useless. September 11th is one such example, and stock market crashes are another. Or, as he puts it, "History does not crawl, it jumps." Our assumptions grow out of the bell-curve predictability of what he calls "Mediocristan," while our world is really shaped by the wild powerlaw swings of "Extremistan."

In full disclosure, I'm a long admirer of Taleb's work and a few of my comments on drafts found their way into the book. I, too, look at the world through the powerlaw lens, and I too find that it reveals how many of our assumptions are wrong. But Taleb takes this to a new level with a delightful romp through history, economics, and the frailties of human nature. --Chris Anderson

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Consistently lauded for its lively, readable prose, this revised and updated edition of A People's History of the United States turns traditional textbook history on its head. Howard Zinn infuses the often-submerged voices of blacks, women, American Indians, war resisters, and poor laborers of all nationalities into this thorough narrative that spans American history from Christopher Columbus's arrival to an afterword on the Clinton presidency.

Addressing his trademark reversals of perspective, Zinn--a teacher, historian, and social activist for more than 20 years--explains, "My point is not that we must, in telling history, accuse, judge, condemn Columbus in absentia. It is too late for that; it would be a useless scholarly exercise in morality. But the easy acceptance of atrocities as a deplorable but necessary price to pay for progress (Hiroshima and Vietnam, to save Western civilization; Kronstadt and Hungary, to save socialism; nuclear proliferation, to save us all)--that is still with us. One reason these atrocities are still with us is that we have learned to bury them in a mass of other facts, as radioactive wastes are buried in containers in the earth."

If your last experience of American history was brought to you by junior high school textbooks--or even if you're a specialist--get ready for the other side of stories you may not even have heard. With its vivid descriptions of rarely noted events, A People's History of the United States is required reading for anyone who wants to take a fresh look at the rich, rocky history of America..
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Explaining what William McNeill called The Rise of the West has become the central problem in the study of global history In Guns, Germs, and Steel Jared Diamond presents the biologist's answer: geography, demography, and ecological happenstance. Diamond evenhandedly reviews human history on every continent since the Ice Age at a rate that emphasizes only the broadest movements of peoples and ideas. Yet his survey is binocular: one eye has the rather distant vision of the evolutionary biologist, while the other eye--and his heart--belongs to the people of New Guinea, where he has done field work for more than 30 years. .
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Staring unflinchingly into the abyss of slavery, this spellbinding novel transforms history into a story as powerful as Exodus and as intimate as a lullaby Sethe, its protagonist, was born a slave and escaped to Ohio, but eighteen years later she is still not free. She has too many memories of Sweet Home, the beautiful farm where so many hideous things happened. And Sethe’s new home is haunted by the ghost of her baby, who died nameless and whose tombstone is engraved with a single word: Beloved. Filled with bitter poetry and suspense as taut as a rope, Belovedis a towering achievement..
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The famously taciturn South African president reveals much of himself in Long Walk to Freedom. A good deal of this autobiography was written secretly while Mandela was imprisoned for 27 years on Robben Island by South Africa's apartheid regime. Among the book's interesting revelations is Mandela's ambivalence toward his lifetime of devotion to public works. It cost him two marriages and kept him distant from a family life he might otherwise have cherished. Long Walk to Freedom also discloses a strong and generous spirit that refused to be broken under the most trying circumstances--a spirit in which just about everybody can find something to admire..
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One measure, perhaps, of a book's worth, is its intergenerational pliancy: do new readers acquire it and interpret it afresh down through the ages? The Meditations of Marcus Aurelius, translated and introduced by Gregory Hays, by that standard, is very worthwhile, indeed. Hays suggests that its most recent incarnation--as a self-help book--is not only valid, but may be close to the author's intent. The book, which Hays calls, fondly, a "haphazard set of notes," is indicative of the role of philosophy among the ancients in that it is "expected to provide a 'design for living.'" And it does, both aphoristically ("Think of yourself as dead. You have lived your life. Now take what's left and live it properly.") and rhetorically ("What is it in ourselves that we should prize?"). Whether these, and other entries ("Enough of this wretched, whining monkey life.") sound life-changing or like entries in a teenager's diary is up to the individual reader, as it should be. Hays's introduction, which sketches the life of Marcus Aurelius (emperor of Rome A.D. 161-180) as well as the basic tenets of stoicism, is accessible and jaunty. --H. O'Billovich.
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The hedge fund industry has grown dramatically over the last two decades, with more than eight thousand funds now controlling close to two trillion dollars. Originally intended for the wealthy, these private investments have now attracted a much broader following that includes pension funds and retail investors. Because hedge funds are largely unregulated and shrouded in secrecy, they have developed a mystique and allure that can beguile even the most experienced investor. In Hedge Funds, Andrew Lo--one of the world's most respected financial economists--addresses the pressing need for a systematic framework for managing hedge fund investments.

Arguing that hedge funds have very different risk and return characteristics than traditional investments, Lo constructs new tools for analyzing their dynamics, including measures of illiquidity exposure and performance smoothing, linear and nonlinear risk models that capture alternative betas, econometric models of hedge fund failure rates, and integrated investment processes for alternative investments. He concludes with a case study of quantitative equity strategies in August 2007, and presents a sobering outlook regarding the systemic risks posed by this industry.

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