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VV Reads, Vol. 53: CEO Pay vs. Performance, Pilot Flying J Truck Stops, and Richard Thaler & Human Nature

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Liar’s Poker: Rising Through the Wreckage on Wall Street
by Michael Lewis

The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker. This wickedly funny book endures as the best record we have of those heady, frenzied years. In it Lewis describes his own rake’s progress through a powerful investment bank. From an unlikely beginning (art history at Princeton?) he rose in two short years from Salomon Brothers trainee to Geek (the lowest form of life on the trading floor) to Big Swinging Dick, the most dangerous beast in the jungle, a bond salesman who could turn over millions of dollars’ worth of doubtful bonds with just one call.


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  • Why is inflation so low? The growing deflationary effects of Moore’s Law (PDF) (Vanguard)
  • Warren Buffett credits his success to these 3 people (HITC)
  • Richard Thaler: A Nobel Prize for Human Nature (The Intelligent Investor)
  • Companies That Perform Best Don’t Pay CEOs the Most (WSJ)
  • Warren Buffett sees value in American truck stops as Berkshire Hathaway buys stake in Pilot Flying J (CNBC)
  • Warren Buffett has set his eyes on this world-beating market in India (Economic Times)

Chart of CEO Pay vs. Stock Performance - Vintage Value Investing


What are you reading this weekend? Drop a link in the comments section below or shoot me an email.