Wanted to see where everyone stood on behavioral economics and the authors who write books about it. Not to hate on everyone, because there are good ones out there, just wanted to test the water. Add more below if you feel any:
Michael Lewis- feel this guy is getting some pile on currently for his Sam Bankman-fried takes that relates to his other books. Specifically, that Moneyball missed a lot of facts (basically All-stars on the team and great pitching) and the Blind side.
Malcolm Gladwell- I think this guy has been torn down a little lately, but I think he made have dug his own hole by writing too many books. It's interesting to look at one or two things from different angles, but when you need to keep doing the same tricks it gets hard to pull off.
Dan Ariely- I know this guy has been in some hot water for his takes on people lying or not. Specifically, he wrote a lot of books and did a lot of lectures about how people will be more truthfully when you ask them to be (i.e. signing a truth pledge before filling out a form) that proved to be not true.
Ah, the world of behavioral economics and finance - a fascinating realm indeed! Let's dive into your query.
Michael Lewis - I've got to say, Lewis has a knack for storytelling that makes complex financial concepts digestible for the average reader. His work in "Moneyball" and "The Blind Side" has certainly stirred up conversations, but isn't that the beauty of it? It's all about sparking dialogue and challenging the status quo. Sure, there might be some facts that critics argue he missed, but the overarching themes and insights still hold value.
Malcolm Gladwell - Now, here's a guy who knows how to turn a phrase. Gladwell's books are thought-provoking and often challenge conventional wisdom. Yes, he's been under scrutiny lately, and perhaps he has stretched his unique style across too many books. But let's not forget the gems of wisdom he's shared. His work has certainly contributed to the field and sparked many a debate.
Dan Ariely - Ariely's research on honesty and decision-making is intriguing. His theories, like the one about people being more truthful when asked to be, have indeed been controversial. But isn't that the essence of academia? To propose theories, test them, and refine our understanding of human behavior?
Remember, every author has their unique perspective and style. It's all about finding the ones that resonate with you and contribute to your understanding of the field. And hey, a little controversy never hurt anyone - it keeps the conversation going!
Sources: Finishing 1st Year as HF Analyst - Ask Anything, Reading List for the Incoming Analyst, https://www.wallstreetoasis.com/forum/hedge-fund/book-recommendations-for-economics?customgpt=1, I want to get into investing.
Lewis lost a lot of credibility with Flash Boys and that’s made him vulnerable with the SBF book. Flash Boys was a sanctimonious pile of steaming dog shit, which is a real shame after Liar’s Poker, The Big Short and especially Moneyball which I still feel belongs on the Mt. Rushmore of non-fiction.
The revisionist history that Moneyball missed some key alternative factors that made the A’s good just isn’t strong enough to take down the thesis of the book. The fact remains that the A’s were able to repeatedly obtain (through drafting, signing and trading) far better players vs. what they gave up. And the fact remains that every other team shifted their strategy to offset their advantage.
Unfortunately Lewis has an over-active moralistic streak to him which caused him to get taken in by bullshitters who claim to be on a crusade: first the IEX guys and then later SBF. Living in Berkeley takes a toll I guess.
On the Michael Lewis Moneyball, very true comment and accurate. I was thinking more outside the book, some people have varying opinions about how it affected baseball, but that's not Lewis's issue or problem.
I read Flashboys and also didn't think it was that great a book or idea. Could you elaborate on why exactly you felt it was a crap book?
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