The Little Book of Valuation – Aswath Damodaran
Our practice has partnered with Five Prime Advisors in New York City to expand our business valuation services. I learned a lot about the valuation process when we procured a valuation of my last business, which I found incredibly fascinating. This interest was added during one of my modules at Oxford. Professor Damodaran is one of the foremost experts on valuation today, and this book provides the layman with an actionable guide to valuing businesses, especially stocks on public exchanges.
Slouching Towards Utopia – J. Bradford DeLong
As one of the most prolific modern economic writers today, Brad DeLong’s latest book is a must-read. Readers of his popular blog, Grasping Reality, know Brad’s depth and breadth separate him from other economic writers. While there are many good books on the economic history of the U.S. (The Rise and Fall of American Growth; Americana, A 400-Year History of American Capitalism), few bring it full circle to a modern-day perspective in response to the immense growth, wealth, and opportunity created. Other Brad DeLong recommendations: Concrete Economics, After Piketty, and The End of Influence.
Titan, The Life of John D Rockefeller – Ron Chernow
Titan sat on my shelf for 10+ years, and I finally got around to reading it. I should have started a long time ago. It’s hard to fathom just how big and powerful Standard Oil became – while the trust was busted in 1911, some of those companies today include Chevron, Exxon, BP, and Marathon. This detailed history provides an honest take on Rockefeller’s life and professional pursuits, the good and the bad. In 1937, he held a $1.4 billion net worth, equivalent to 1.6% of GDP. In today’s terms, that amounts to a fortune of over $400 billion. That does not happen by accident, and this book will benefit anyone starting a career, building a business, or trying to standardize their philanthropic efforts.
From one location in Downey, California, to over 40,000 today around the world, this book details the beginning of McDonald’s from the viewpoint of the company’s “re-founder,” Ray Kroc. As an ice cream machine salesman, Ray appreciated the efficiency, simplicity, ingenuity, and profits of the McDonald brother’s operation and risked everything to grow across the country. One reason biographies are so useful, even if you are not interested in fast food or building an oil & gas behemoth, is studying how particular individuals respond when faced with adversity. The scaling of McDonald’s is no different, and for those professional managers who deal with founders, you will appreciate Ray’s plight.
JFK: Coming of Age in the American Century 1917 – 1956 – Frederik Logevall
Volume 1 details the first 39 years of JFK’s life, detailing his childhood, education, and career before deciding to run for president. History is littered with overachievers and leaders from overbearing and demanding backgrounds, and the young John Kennedy is no different. His interest in world affairs was instilled at a young age, and his early life saw the Great Depression, two world wars, and the country’s rise as a superpower. These years also brought incredible health challenges, yet, he used this downtime to read, think, and productively act to make the country a better, more equitable place. It’s an investment in time but a true testament to one’s potential when they have their mind set on grand ambitions.
#tetonbookclub
Any commissions earned from the Amazon affiliate links will be donated to Primary Children’s Hospital in Salt Lake City, Utah.