The Why Axis – Bonus Post

This blogger skimmed the ebook, “The Why Axis” by Uri Gneezy and John A. List, published in 2013. The co-authors discuss their experiments in behavioral economics– the decisions and actions people make and take when they must allocate limited resources in their professional and personal lives.

The authors concluded from their research that gender-related competitiveness is learned– taught by society, rather than inherited. They write that many studies have also shown that when men appoint a leader, they choose someone who resembles them.

Read the book to learn about other interesting findings, such as the risk factors for teenagers’ getting shot, the fastest way to: meet fundraising goals; modify behavior in marketing products; and increase factory-worker productivity by using incentives, punishment or a combination of both.

The Education of a Coach

The Book of the Week is “The Education of a Coach” by David Halberstam, published in 2005. This ebook describes the career of Bill Belichick, eventual head coach of two different professional American football teams from the 1990’s into the 2000’s. His excellence at analyzing films of players in action was instrumental in assembling winning teams and Super Bowl victories.

Job security is poor for coaching positions in college sports departments and in professional sports. There are many factors out of the control of the personnel, and networking is crucial for obtaining the next job, often in a different city. A newly installed athletic director could fire the head coach, and the assistant coaches would have to leave with him. Players could get injured or the team owner could interfere with the coaching of the team. Egos are big and the system for how players are chosen for professional football teams has changed over the decades.

Read the book to learn how Belichick rose to the top and why he ran into trouble in Cleveland but achieved tremendous success in New England.

Handsome Is

The Book of the Week is “Handsome Is” by Harriet Wasserman, published in 1997. It is a memoir of the intertwined careers of the author and Saul Bellow.

Wasserman was Bellow’s literary agent for twenty-five years. She first worked at Russell & Vokening, a literary agency in New York in the 1960’s. Bellow and Bernard Malamud were clients of her bosses, the managing partners. “They were representative of Male Jewish American Novelists at the time when MJANs were the high point of our culture.” In the early 1970’s, the then-big publisher Doubleday offered Bellow “… a two-book contract for two hundred thousand dollars and promised to get [him] a summer house in Spain.” Such were the times.

Wasserman described another aspect of the book industry in her generation. Malamud’s book “The Closing of the American Mind” became a runaway best-seller immediately because a TV, radio and newspaper blitz made it into a blockbuster. “Ten thousand books had been printed, three thousand were in the warehouse, and seven thousand were in the stores.” In 1987, another famous author, Allan Bloom appeared and promoted his book “More Die of Heartbreak” on the TV shows and networks, “…Evans and Novak, Open Mind, ABC, NBC, CBS, PBS, CNN…” but the one show on which he appeared at his own insistence, was Oprah.

Read the book to learn of what became of Wasserman’s bosses– the reason she struck out on her own, how an auctioning off of the longhand notes and other preliminary materials of a Bellow novel fared, Bellow’s love life and families, Wasserman’s philosophy on representing an author who wants to retain separate agents for: a) his backlist and foreign rights, and b) his current works; and many other nostalgic scenes of a bygone era in publishing.

Fake

The Book of the Week is “Fake” by Kenneth Walton, published in 2006. This book’s author tells a suspenseful story about his 2003 eBay activities that were deemed a crime.

A friend who was well-versed in the business, sparked Walton’s passion for hunting for paintings at antique shops, thrift stores and flea markets, and reselling those paintings at a profit on the online auction site. However, as Walton honed his entrepreneurial skills, he got greedy and began to collude with his friend, using deception to make more money.

Read the book to learn of what happened when Walton found himself in serious trouble, and how he realized he could make money honestly through a different pursuit for which he had natural ability, and for which he developed a passion.

The Billionaire’s Apprentice

The Book of the Week is “The Billionaire’s Apprentice” by Anita Raghavan, published in 2013. This ebook describes the investigation into the activities of a few Wall Streeters who were accused of insider trading in the past several years. Most of the accused happened to be of South Asian descent–from  Sri Lanka and India.

One concept the book conveys to readers is that it is unknown how many American securities-industry professionals are benefiting from insider trading, but the people in this book just happened to get caught because there was sufficient evidence against them to prompt the SEC, US Attorney’s office and FBI to go after them, rather than other possible offenders. The departments involved included the SEC’s Market Abuse Unit and the Department of Justice’s Securities and Commodities Fraud Task Force in the legal jurisdiction of the Southern District of New York (covering Manhattan and the Bronx, according to the author).

Another concept is that the investigating organizations and the securities industry are staffed with many people who, during their careers, switch allegiances. They might go from being a prosecutor to being a defense attorney, or from brokerage executive to government regulator, or vice versa. In this book the “old boy network” is alive and well. Arguably, conflicts abound.

Read the book to learn, among other extremes, about wiretapping (not the NSA’s), about one of the accused who “had several phones– at least thirteen– and he used them all” and a $30 million legal bill.