Cheryl (@cheryl__nobyl)
@cheryl__nobyl
"Read 500 pages every day. That's how knowledge works. It builds up, like compound interest." —Warren Buffett
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In 2008, all three of Iceland's largest banks collapsed in the span of a week — a staggering $182B loss. At first, it appeared to be another unfortunate victim of the 2008 financial crisis. But was the truth so simple? In "Iceland's Secret", ex-FME regulator Jared Bibler helped lead a task force to discover the shocking truth hidden beneath the ice, bringing to justice the bank executives and government officials behind a decade-long con.
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After losing 98% of his $78B wealth in 2000, Masayoshi Son refused to abandon his vision. He would continue to depend heavily on leverage as he rebuilt the SoftBank empire through acquisitions of companies in the telecom, mobile, microchip and AI industries. But in a new era of inflated stock valuations, and as one of the most indebted companies in the world, will SoftBank be able to continue operating at this scale?
Read more on the second part of Masayoshi Son's story, based off of Lionel Barber's "Gambling Man", at:
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For Masayoshi Son, founder and CEO of SoftBank, short-term profits and costs were negligible. In his perspective, there was only the future that mattered. In his boundless quest of acquisitions, he would spend billions acquiring hundreds of companies across various companies, often vastly overpaying when he saw any potential. In 2000, this strategy would make him the richest man in the world — propelled by inflated valuation of his stocks during the dotcom bubble — for three days, after which he would lose 98% of his net worth. How sound was this strategy, and were the gambles he made truly a worthwhile one?
Read part one of Son's story, from Lionel Barber's "Gambling Man", here:
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In the past decade, high-frequency trading made up nearly half of U.S. stock market trading volume. But did the advantage their speed give them come at the cost of investors? Read more takeaways from Michael Lewis' "Flash Boys" at:
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Financial Times reporter Dan McCrum faced losing everything when he attempted to expose the Wirecard scam for what it was. So how did one of Germany's largest companies fool the world and run a $2B grift? Read more at:
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George Gilder had a knack for predicting the future. But where had he gone so wrong during the telecom bubble? Read more from my takeaways of @om's "Broadbandits: Inside the $750 Billion Telecom Bubble" at
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What justified investors to throw billions of dollars at a company that never had a single profitable year? Read more about Global Crossing and the telecom bubble, from @om's "BroadBandits: Inside the $750 Billion Telecom Heist", at
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We could currently be in the middle of AI bubble — so what can we learn from the dotcom and telecom bubble collapses twenty years ago? Read more about my takeaways from @om's "BroadBandits: Inside the $750 Billion Telecom Heist" at
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Fickle Traders & Widow Makers: My takeaways from Hedge Hogs: The Cowboy Traders Behind Wall Street's Greatest Disaster
