Seabiscuit: An American Legend- Book 13 Review

As long as you are holding this book in your hand, you are in for a great ride with Seabiscuit. Having read earlier, “Unbroken”, Seabiscuit was my second book from the author Laura Hillenbrand. And tell you what, she is simply amazing. Her narrative skill along with painstaking research ability just makes you marvel at her skills. This is a lovingly recounted tale of a scrappy little horse with mesmerizing speed, flashes of brilliance and a big heart to capture the wild adulation of a nation hopelessly mired in the worst depression it had ever known. Seabiscuit is a story of hope and courage that not many gave a chance.

I am not a fan of horse racing but reading this gem of a book, I am more than eager to understand the dynamics of this fascinating game. So who was Seabiscuit? In the words of the author, “He had a sad little tail, barely long enough to brush his hocks. His stubby legs were a study in unsound construction, with squarish, asymmetrical ‘baseball glove’ knees that didn’t quite straighten all the way, leaving him in a permanent semicrouch… His gallop was so disorganized that he had a maddening tendency to whack himself in the front ankle with his own hind hoof.”  Not exactly flattering description, eh? But then he was also arguably the greatest thoroughbred to set foot on a racetrack since the incomparable Man O’ War.

To many, Depression era is just a forgotten part of dusty shelves of history and somehow they may find it hard to correlate horse-racing with the purely economic events of the 1930s. But when you read the Cinderella story of Seabiscuit, you will get a good glimpse of historical perspective into the social and economic forces that shaped the sport of kings in the mid-twentieth century. All credit to Hillenbrand for offering us a view of how an entire nation pinned its hopes onto a small little horse amidst the quagmire of doom and gloom. And don’t we all love stories of underdogs rising through the ranks flattening the more fancied names?

Seabiscuit is the story of an unfancied horse and the men who knew and loved him the best — his owner Charles Howard, his trainer Tom Smith, and jockey Red Pollard. It also tells the tale of people who touched and were touched by this horse. Laura Hillenbrand gives us an informative inside look into the often wretched conditions of the brave athletes; men and horses alike, who offered their sweat, blood and often lives for their success and failures. This book has several sporting lessons to offer. It is also a kind of rags to riches story which is nearly impossible not to relate to. The author just lets the story of this remarkable horse tell itself, needing only her evocative prose to guide it along.

We are living in the era of Roger Federer, Usain Bolt, Messi etc and for most of us sports lovers, it is not difficult to imagine the kind of crazy fan following, 24/7 media coverage these sports icons command. Seabiscuit had the same aura and cult following along with attendant merchandising that transcended the borders of time, sport and species. This short, cow-pony framed horse with laid back attitude, teasing nature and sleeping habits of a fat cow displayed a kind of magical excellence that we all strive and wish for. It’s so relatable and desirable to emerge as a beacon of hope when nobody gives a shit about your existence.

This book is a fascinating read for those new to thoroughbred racing (me including). Somehow, Seabiscuit made me want to go watch horse-racing. Sneak away in the night to stroke horses’ long velvet noses, hear the galloping thunder of hooves, tend to their knees and if possible, ride one. Ms. Hillenbrand has a gift for writing real life like fiction. Infused with passion, you just can’t help falling in love with her characters because she did. Those interested in big screen adoption, there is an Oscar-nominated movie with same name and it has Tobey Maguire as Red Pollard and Chris Cooper as Tom Smith. But then the book is so much better. Isn’t it always that way?

And by the way, it doesn’t matter what you look like; you are only what you believe yourself to be. Happy reading, folks. Cheers.

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Business: The Emami Way- Book 12 Review

I am finding it hard to write a review about the book, ‘Business-The Emami Way‘ written by the Founders of Emami- R.S. Agarwal & R.S. Goenka. I couldn’t shrug away the feeling that I am back to my MBA days, devouring texts of Marketing & Organizational Behaviour. There is not much explained about the Emami business or its success etc. I found it preachy. Too preachy rather.

In the entire book, there was too much of “WE did it. WE do that.” Annoying to my reading senses. There is something real tragic about Indian biographies and their authors. Whether it’s Haldiram, Emami, Sreedharan etc, all I could see was diabetic doses of eulogizing. Dollops of praise in utterly butterly sugary syrups. Only the “Z factor (Subhash Chandra)” was to some extent honest, mixing up good, bad and ugly. And then you read something like, Shoe Dog, Titan or Ray Croc and man, that’s when you realize what fun it is to read an honest biography/autobiography. Somehow, those westerners don’t idolize these business tycoons in a godly manner like Indian do. Perhaps we are scared of criticizing (though, that’s our second nature) or may be the thought that, if they have achieved so much, how can they be wrong or history is only supposed to be goody

goody coochie-coo stuff. Meh!

I may not have a strong sample size to present my case but counting on my recent experience I am no longer inclined to read Apollo/Crisil stories that I had tagged in my reading list. All in all, Business- the Emami way was a tiresome read. You can avoid safely.

Oh, there were some vernacular proverbs quoted by the author in the book which I would like to mention.

Kharcha Kam, Amdanee Ghanaa

Kaam Kam, Time Ghanaa

(Less expense, more Income

Less work, more time at your disposal)

 

Bhagya re Bhagya teen janaa, Poonjee kum vyapaar ghanaa

Zor kum gussa ghanaa, Amdanee kum, kharcha ghanaa

(3 kinds of people have to run away from the world of business; one who has more business in hand than capital at his disposal, one who has passion but lacks the drive, and one whose income is less than his expenses.)

Mastery- Book 11 Review

Interested in knowing how geniuses like Mozart, Darwin, Einstein, Humphry Davy to living legends like Paul Graham, VS Ramachandran etc mastered their respective fields? If yes, then look no further than the book “Mastery” which is laden with lucid examples towards the paths of glory. Written by Robert Greene, the theories and concepts presented in the book may not be entirely new to the readers but they have been presented in a very interesting format. Greene has gained fame or notoriety (depending upon which side of the fence you are in) from “48 laws of Power”; so I was pretty curious to read this one expecting more cynicism or Machiavellian techniques but book had none of these. Filled with inspiring tales and positive anecdotes, it made for a good read.

Mastery tries to enlighten us with how Masters are made. He emphasizes that masters are not simply “naturally gifted” or possess high IQ. Its much more than that. At the core of their mastery lies, their passion for their work, unflinching focus and guts to tread their own paths irrespective of limitations and restrictions imposed upon their beings by society or nature.

Robert Greene digs deep into the process of how to attain mastery with several wonderful tales of legends. I personally loved the stories of Leonardo Da Vinci and Charles Darwin. So many finer details which I was not aware of. It was also an eye opener in a way because there is so much unknown about how we perceive the legends without ever getting to know what made them. All those countless hours of practice, numerous disappointments, opposition and rejection by establishment, dollops of luck and serendipity and that’s how these geniuses are made.

According to the author, a typical journey of a master consists of mainly 3 stages:-

1. 1. Looking out for work related to your true passion

   2. Searching the right mentor and being the right apprentice

   3. Becoming actively productive after years of apprenticeship

It all starts with who you are, how do you reconnect to your inner force, not letting it drown in cacophony of worldly considerations and identifying your true inclinations. Having discipline and developing an independent thinking is of paramount importance if you wish to attain mastery. The fact that, we all have limited time on earth, we cannot possibly learn everything on our own so we need to find mentors who can challenge us and guide our way in the right direction. This has been demonstrated in a beautiful way in the relationship between Michael Faraday and Humphry Davy. The path to success is paved with manipulations and resistance by people but instead of succumbing to frustration we need to manoeuvre our way skillfully away from the impediments. Benjamin Franklin was a classical example of this tact and grit phenomenon. As we accumulate more skills and learn more things, we learn to fuse the intuitive with rational which is instrumental in achieving the outer possibilities of our potential.

Robert Greene says that, masters pull from everywhere. Every minuscule, non-noticeable thing in nature has the potential to inspire an improvement. But for that, we need to keep our mind open enough to create connections between different patterns and signals. The Author also highlights the importance of socializing. We can not achieve much in this world without social intelligence. We need to accept others as they are instead of wasting our energy in trying to change them. The only person we can change is ourselves and so that is where our focus should lie. Consider what Greene has to say;

“You must allow everyone the right to exist in accordance with the character he has, whatever it turns out to be: and all you should strive to do is to make use of this character in such a way as its kind of nature permits, rather than to hope for any alteration in it, or to condemn it offhand for what it is. This is the true sense of the maxim – Live and let live… To become indignant at [people’s] conduct is as foolish as to be angry with a stone because it rolls into your path. And with many people the wisest thing you can do, is to resolve to make use of those whom you cannot alter”.

The books harps on the concept of hard practice. It’s important to repeat and keep practicing diligently – pushing yourself to get better. People who do not practice and learn new skills never gain a proper sense of proportion or self-criticism. The future belongs to those who learn more skills and combine them in creative ways. And the process of learning skills, no matter how virtual, remains the same. Mastery is not a function of genius or talent. It is a function of time and intense focus applied to a particular field of knowledge. Most importantly, we have to get fired up about the essence of our work.

Mastery is endowed with many case studies, practical strategies to follow, and also the cases where the process didn’t work. It is fascinating to witness the lives of dozens of masters, reading about their habits, traits and attitudes. The tales also include the lives of unlikely masters, whose achievements seemed impossible given their disabilities and impairments. Mastery makes for a captivating read.

Some quotes from the book:-

“Think of it this way: There are two kinds of failure. The first comes from never trying out your ideas because you are afraid, or because you are waiting for the perfect time. This kind of failure you can never learn from, and such timidity will destroy you. The second kind comes from a bold and venturesome spirit. If you fail in this way, the hit that you take to your reputation is greatly outweighed by what you learn. Repeated failure will toughen your spirit and show you with absolute clarity how things must be done.”

“People around you, constantly under the pull of their emotions, change their ideas by the day or by the hour, depending on their mood. You must never assume that what people say or do in a particular moment is a statement of their permanent desires.”

We are all in search of feeling more connected to reality—to other people, the times we live in, the natural world, our character, and our own uniqueness. Our culture increasingly tends to separate us from these realities in various ways. We indulge in drugs or alcohol, or engage in dangerous sports or risky behaviour, just to wake ourselves up from the sleep of our daily existence and feel a heightened sense of connection to reality. In the end, however, the most satisfying and powerful way to feel this connection is through creative activity. Engaged in the creative process we feel more alive than ever, because we are making something and not merely consuming, Masters of the small reality we create. In doing this work, we are in fact creating ourselves.”

“The most effective attitude to adopt is one of supreme acceptance. The world is full of people with different characters and temperaments. We all have a dark side, a tendency to manipulate, and aggressive desires. The most dangerous types are those who repress their desires or deny the existence of them, often acting them out in the most underhanded ways. Some people have dark qualities that are especially pronounced. You cannot change such people at their core, but must merely avoid becoming their victim. You are an observer of the human comedy, and by being as tolerant as possible, you gain a much greater ability to understand people and to influence their behaviour when necessary”

Happy Reading, folks. Cheers.

The Lord of the Rings: The Return of the King- Book 10 Review

“One Ring to rule them all, One Ring to find them, One Ring to bring them all and in the darkness bind them”.

Lord of the Rings: The Return of the King is the final installment of the well known trilogy. Like the previous two parts, this one continues with the intrepid group of heroes still moving forward with their individual quests. Filled with drama, adventure and plenty of cliffhangers, The Return of the king is a worthy climax of this epic saga. Like the Two Towers, here also the book runs in two parts; one explaining the adventures outside Mordor, and the other describing the adventures of Frodo and Sam.

To give a brief summary about the plot, Gandalf and Pippin are making their way to Minas Tirith to try to convince Denethor, the city’s Steward to join their fight to defeat Sauron. Frodo and Sam along with the treacherous Gollum as their guide, are continuing their long journey to Mount Doom, where they hope to destroy the Ring, once and for all.  Aragorn accompanied by Legolas and Gimli is taking the legendary Paths of the Dead to Gondor, with the hopes of recruiting an enormous army of Sleepless Dead. Simultaneously, Lady Eowyn and Merry lead their forces against those of Mordor. And After improbable struggles where odds were always stacked against them, the evil Sauron is defeated by the forces of good. The book ends with Aragorn, now King and Arwen join in marriage and usher in a new age of peace and prosperity whereas the Hobbits return to the Shire to rebuild their beloved home against fading might of Saruman. The final chapter has Frodo deciding to leave the Shire and his friends and sailing away over the Great Sea with Bilbo, Gandalf, and the other Ring bearers to the beautiful and peaceful paradise in the West.

I just loved this series. The final installment is the most fast paced of the three books. The quality of Tolkien’s writing is so high that you can’t help but feel immersed in the book and can actually feel yourself travelling along with the hobbits, experiencing every bit of peril and hopelessness that they too must have been feeling on the final stages of their trek to Mount Doom. As with the first two books, I find it extremely difficult to write a review that actually does justice to the magnificent detail of the plot, the characters and the world of Middle Earth in general.

Return of the King is a fitting finale of this hugely engrossing saga. Written at a very high standard, I would strongly recommend this series to anyone who is able to commit to a book, interested in fantasy and looks forward to complicated ideas and vocabulary. This book is relatively shorter than the previous two but what really makes up for it is detailed specific details of each category; Hobbits, Elf, Dwarves, Men etc at the end of the book. So many new similar sounding names can often be confusing but that’s the fun part. J.R.R.Tolkien is a master storyteller, and it really shows in this fantasy trilogy of deceitfulness, faith, courage and heart. What really appeals to your reading sense is the writer’s relentless narration of quest, the heroic journey, the Numinous Object, the conflict between Good and Evil while at the same time satisfying our sense of historical and social reality. To create an imaginary world of such magnitude is no mean task. Once you finish this trilogy, perhaps you would be knowing more about different aspects of Middle Earth than you would be knowing about the actual world you are living in. It’s not just fantasy; its sheer intelligence and brilliance. A must read.

10 books done for the year. So far so good. Happy reading, folks. Cheers.

Man’s Search for Meaning – Book 9 Review

“He who has a why to live for can bear almost any how.” – Nietzsche

Above quote is the refrain of the entire book. Viktor Frankl’s Man’s Search for Meaning is considered as one of the most important books written in last century. For such a short book, it carries so much weight. This review can not do justice to what the author has gone through and how immense his contribution is to the millions around the world with his pioneering work. Viktor Frankl, a Jewish psychiatrist and neurologist, was interned in a number of concentration camps during World War II, including the infamous Auschwitz. His parents and young wife were also interned, though Frankl was the only member of his family who survived long enough to see freedom. Man’s Search for Meaning is, in part, a memoir of this period.

For a book with just 150 odd pages, what makes this book great is author’s perspective. One can only marvel at the way Frankl has integrated his own highly traumatic experiences with the analysis and understanding of the psychological dynamics of a concentration camps. The book opens with Frankl’s entry into Auschwitz. Those who are familiar with books on concentration camp can guess what follows next. Frankl and thousands of other prisoners are subjected to an endless process of degradation and dehumanization by the camp’s staff. All the inmates are stripped of their freedom, possessions, body hair and even their names. They are no longer recognized as human beings. They are merely numbers; just a primitive, naked form of existence. As Frankl’s hopes and illusions are cut down one by one, he starts reflecting on his situation.

I almost felt bewildered with Frankl’s sense of objective curiosity amidst the suffering and humiliation. Having been in a camp when matters of life and death was always hanging by a slender thread, he is gripped by a grim sense of humour. Instead of succumbing to hopelessness, Frankl starts making jokes. It’s more like a scientist observing an experiment with complete detachment from his pain. He finds it miraculous how his body managed to carry on despite being subjected to a perilous combination of exhaustion, starvation, forced labour, sleep deprivation, filth, and sub-zero weather. It is so intriguing to read Frankl’s description of psychological factors inside a camp.

The first section of the book deals with camp suffering and finally, Frankl’s liberation at the hands of American soldiers. The second half of the book talks about Frankl’s theory of Logotherapy. From the insights he developed in concentration camps, he offers a new model of the human psyche, which is in complete contrast to what Freud, Jung and Adler had to say. If Freud theorises that humans are driven by a will to pleasure then Adler talked about humans’ need to be driven by a will to power but Frankl emphasized upon “will to meaning”. He says,

“Ultimately, man should not ask what the meaning of his life is, but rather he must recognize that it is he who is asked. In a word, each man is questioned by life; and he can only answer to life by answering for his own life..”

Frankl puts across his theory that though man is limited in many ways – biologically, socially, psychologically – but holds that his observations in German concentration camps provide evidence to “the unexpected extent to which man is capable of defying and braving even the worst conditions conceivable.” Many other accounts of concentration camps corroborate his experiences; tales of incredible kindness, strength, and integrity in the most horrific of environments.

There is so much one can gain from this book. It would take pages to jot down the learning one can distil from “Man’s search of meaning”. I will try to mention a few important ones, though each one of them deserves thorough description.

• It is an acceptance of the situation, with a solid future goal that makes life as bearable as it possibly could be.

• You may not have a choice in the experiences you encounter in life, but you have a choice in how you react to them.

• You are capable of doing much more than you think

• No man should judge unless he asks himself in absolute honesty whether in a similar situation he might not have done the same.

• A sense of humor can get you through tough times.

• You can resist your environment’s influence.

• Don’t make success your goal because you’ll never attain it.

• The salvation of man is through love and in love.

I will quote some wonderful passages from the book:-

“Don’t aim at success. The more you aim at it and make it a target, the more you are going to miss it. For success, like happiness cannot be pursued; it must ensue and it only does so as an I intended side effect  of ones personal dedication to a cause greater than ones self or as a by-product of ones surrender to a person other than ones self”.

I grasped the meaning of the greatest secret that human poetry and human thought and belief have to impart: The salvation of man is through love and in love. I understood how a man who has nothing left in this world still may know bliss, be it only for a brief moment, in the contemplation of his beloved. In a position of utter desolation, when man cannot express himself in positive action, when his only achievement may consist in enduring his sufferings in the right way – an honourable way – in such a position man can, through loving contemplation of the image he carries of his beloved, achieve fulfillment.

“Life ultimately means taking the responsibility to find the right answers to its problems and to fulfill the tasks it constantly sets for each individual. These tasks, and therefore the meaning of life, differ from man to man, and from moment to moment to moment. Thus it is impossible to define the meaning of life in a general way.”

“…the damage to their inner selves was less. They were able to retreat from their terrible surroundings to a life of inner riches and spiritual freedom. Only in this way can one explain the apparent paradox that some prisoners of less hardy make-up often seemed to survive camp life better than did those of robust nature.”

“the generous and heroic actions of a minority offer sufficient proof that everything can be taken from a man but one thing, the last of human freedoms, to choose one’s attitude in any given set of circumstances, to choose one’s own way.”

What was really needed was a fundamental change in our attitude toward life. We had to learn ourselves and, furthermore, we had to teach the despairing men, that it did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist, not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfil the tasks which it constantly sets for each individual.

No man and no destiny can be compared with any other man or any other destiny.

The medical men among us learned first of all: “Textbooks tell lies!” Somewhere it is said that man cannot exist without sleep for more than a stated number of hours. Quite wrong! I had been convinced that there were certain things I just could not do: I could not sleep without this or I could not live with that or the other. The first night in Auschwitz we slept in beds which were constructed in tiers. On each tier (measuring about six-and-a-half to eight feet) slept nine men, directly on the boards. Two blankets were shared by each nine men.

We who lived in concentration camps can remember the men who walked through the huts comforting others, giving away their last piece of bread. They may have been few in number, but they offer sufficient proof that everything can be taken from a man but one thing: the last of human freedoms – to choose one’s attitude in any given set of circumstances, to choose one’s way.

You may not have a choice in your circumstances and environment. But you always have a choice in how you react to those imposed upon you.

If there is meaning in life at all, then there must be a meaning in suffering. Suffering is an ineradicable part of life, even as fate and death. Without suffering and death human life cannot be complete.

Logotherapy bases its technique called “paradoxical intention” on the twofold fact that fear brings about that which one is afraid of, and that hyper-intention makes impossible what one wishes […] In this approach the phobic patient is invited to intend, even if only for a moment, precisely that which he fears.

 “…there were always choices to make. Every day, every hour, offered the opportunity to make a decision, a decision which determined whether you would or would not submit to those powers which threatened to rob you of your very self, your inner freedom; which determined whether or not you would become a plaything of circumstance, renouncing freedom and dignity to become moulded into the form of a typical inmate.”

Man’s Search for Meaning is a great read for people who are looking to reflect upon the content and direction of their life. It is a book full of genuine positivity. Viktor Frankl provides so much hope that it’s impossible to not be uplifted by his story, and that of his view of our ability to rise above the situation and maintain our own humanity and meaning. And if you have a why for life you can weather any storm; what’s the why for your life? Book leaves me pondering, “What does my life mean to me?”

Happy Reading, folks. Cheers.

The Lord of the Rings: The Two Towers- Book 8 Review

After finishing the Two Towers, I’d like to start off by saying that I’m waiting to re-watch this series all over again after 15 years or so. I found this book as exciting and much more detailed than the Fellowship of the Ring.  It has a rich collection of lore and depth. Book is split into two distinct parts. The first part features Aragorn, Gimli & Legolas and at some times Pippin and Merry and the second part centering on how Frodo and Sam fare. Both tracks of the book have its own appeal. With the Aragorn & Co. Track, it feels more like a mass event having numerous characters, strategies, plans, discussions etc whereas with the Frodo and Sam, it feels much more linear. You can experience feelings and journey of two people rather than the goings on of a large group.  The hobbit track is more intimate and dark. You feel more for these two as you know they are carrying the most dangerous thing in the world to the most evil place on the planet in a journey fraught with not just physical but psychological damage as well with a lecherous, nasty companion. It is more intimate.

Somehow I have developed a respect for this series mainly because of the depth of each of the character and the way Tolkien has visualized middle earth. It is sheer brilliance of the author that in one chapter alone you find more depth than you find in most 300 page novels.

At times, The Two Towers can be confusing since the names feel so similar but then looking at the positive side, it forces you to go back once in a while and focus more. The second book of the trilogy has more instances of day-to-day events which may appear like taking pace off the story but then you wouldn’t want it any other way simply because of the richness of the text. Also during that slow phase, new languages and histories are introduced for new characters. The Ents,for example, have their own language (which you hear at times), have their own songs, and have a troubling love story to boot. Additionally, they are pretty badass particularly when Treebeard and the other Ents decide to attack Isengard. You couldn’t help but cheer for them.

As for the movie version, from what I remember there were few digressions. For instance, I felt disappointed with the speed with which the Battle of Helm’s Deep was done. That was such a short passage, and I was expecting a totally amazing fight sequence. So that let me down just a little. Then there was unnecessary battle with orcs and warg wolves in the movie just to enhance a subplot between Aragorn and Eowyn Also, in the book Faramir is a great character having kindness, strength and integrity but in the movie he is shown a more like his brother Boromir who perished at the end of the first instalment. I can recall few more examples like how the Ents went to the war was totally incorrect in the movie. Also throughout the book, the equation between Frodo and Sam was cordial and motivating but in movie, things were shown slightly differently. Not to mention that Frodo is so much stronger in the books than the films.  They turn him into a weakling as well. The characters are so great and unique.  There was no need to change them. So, in a way Peter Jackson took quite a few liberties while making the films and movie version is not exactly faithful to the book.

It is an epic fantasy that has earned that classification.  Occasionally it can be difficult to get though and some of the sentences will need to be reread a couple times because of the multitude of the characters, route names, geographical details and bit of poetry etc but if you can get through it, you will be glad you did. With all this depth and history, you can’t help but get sucked into the story.  What makes Lord of the Rings so incredible is the way it engages you. It takes you to a totally different realm. The vividness of the trilogy allows you to paint the picture of what the characters are going through. It is a powerfully thematic, thrilling adventure that is absolutely worth your time.

Grabbing the final one of the trilogy. Happy reading, folks. Cheers.

Extraordinary Popular Delusions and the Madness of Crowds- Book 7 Review

A person is intelligent; people are stupid. Whoever once said that must have been referring to stock market manias. It’s incredible and disconcerting fact that, although first published in 1841, Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay describes trends and manias that are as relevant today as they were back then. Some things never change especially basic human nature. Dimension and magnitude may differ but basic traits remain the same. This 178 year old book is still just as timely as the day it was written. Key in the search words- stock market bubbles in Google, and almost all the resulting article will refer to this book. The relevance of this book transcends time and space barrier.

Often cited as the best book ever written about market psychology, Extraordinary Popular Delusions and the Madness of Crowds includes Charles Mackay’s account of the three infamous financial manias – John Law’s Mississipi Scheme, the South Sea Bubble, and Tulipomania. These historic episodes confirm what all modern day investors know and yet often succumb to, that greed and fear have always been the driving forces of financial markets, and, furthermore, that being sensible and clever is no defence against the mesmeric allure of a popular craze with the wind behind it. Though the author had obvious benefit of hindsight, he has produced a record that is at once a deep accurate depiction of people psychology, herd mentality and a gripping historical document. We might have advanced by leaps and bounds in every sphere of life and yet the basic driving force of greed and fear retains its ubiquitous stronghold over we mortals.

The author, Charles Mackay (1812-1889), was a Scottish journalist and author.  This monumental book is heavily-researched and details historical anecdotes of the pitfalls of group behaviour. Throughout, he focuses on repeated episodes when entire societies got caught up in drummed up irrational hysterias and behaved as if the laws of science or economics had been temporarily suspended. As it happens, in every case, hope overcame reason, as folks labored under the delusion that this time was somehow different (sounds familiar, no?), that their form of cultural madness was unique and actually made sense. Modern social psychologists and economists have taken examples from this book to describe the dysfunctions of following the “Crowd”. That perpetual boom to bust behaviour in equity market is neatly demonstrated in the book.

The first story of the Mississippi Scheme details the life of John Law – the Scottish economist, banker, adventurer, murderer, royal advisor and exile who in 1716 established the Banque Generale, a state chartered bank with the power to issue unbacked paper currency. He thought that increasing the money in circulation would benefit commerce and like it always happens, his scheme was a spectacular success but a short lived one. Mr. Law also created Mississippi Company, a French colony trading precious metals. To kick-start the operation, he needed funds for which he issued shares and low-interest government bonds. Soon enough, shares in Mississippi went sky high as people were drawn to the lure of trading in gold and silver. A mania spread throughout the country as people of all classes jostled to get their names on the share register. The craze was such that Law was forced to issue more bank notes causing extreme inflation. As the craze went on, the bubble became unsustainable and burst. The company collapsed plunging France into an economic crisis. The scheme wasn’t bad as such but it was the irrational speculation of the people that led to the inflated price and ultimate collapse.

 … It was remarked at this time that Paris had never before been so full of objects of elegance and luxury. Statues, pictures, and tapestries were imported in great quantities from foreign countries, and found a ready market.

All those pretty trifles in the way of furniture and ornament which the French excel in manufacturing were no longer the exclusive playthings of the aristocracy, but were to be found in abundance in the houses of traders and the middle classes in general. Jewellery of the most costly description was brought to Paris as the most favourable mart;”…

The second story of South Sea Bubble is almost of similar shade. However, it took place in Britain and their lawmakers handled it in a better manner than their French royalty. Tulipmania, on the other hand feels almost unbelievable with stories like how Dutch people would sell their entire estate to convert it into a few Tulip bulbs believing the latter to be more precious than anything at their disposal. There is this funny anecdote of a sailor who ate a prize tulip bulb with his herring breakfast thinking it to be an onion and spent months in jail as a result.

People are prone to delusion, and run after it, till their attention is caught by some new folly more captivating than the first. We see one nation suddenly seized, from its highest to its lowest members, with a fierce desire of military glory; another as suddenly becoming crazed upon a religious scruple; and neither of them recovering its senses until it has shed rivers of blood and sowed a harvest of groans and tears, to be reaped by its posterity.” …..

Looking closely, you will find a common thread in each mania. The initial proposition seems almost sensible with the common theme of new proposal heralded as a way to end poverty and allow anyone to make money without actually doing any hard work; and how each mania distorts the economy such that productive industries are damaged by the rush of capital to speculation. But we humans are too greedy to be stopped. Whether its Y2K bubble or 2008 financial crisis, we are still the same. Every few years/decades, we will witness the next boom and bout of collective madness. Who knows? The thing about manias is that it is hard to spot them until they are well underway. As an investor, our primary goal is to notice when this herd mentality occurs and to avoid being swept up in the “madness” that can often have disastrous results. Easier said than done but….

I will finish this must read book with the most wonderful quote “… millions of people become simultaneously impressed with one “ Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.”

Happy reading, folks.  Onto the 8th. Cheers.

TED Talks: The Official TED Guide to Public Speaking- Book 6 Review

First, a confession. I am terrible at public speaking and totally petrified by the daunting but unavoidable prospect of making a passionate speech to a half eager, half yawning audience. It would fill up several pages if I start recounting how my previous attempts of public speaking had my legs wobbling, tongue swirling with rapid-fire ejaculation of gibberish words and confusion writ large on the faces of attentive listeners and not to forget; those dubious words of “tu acha bola”/ “you did good…” from my sincere friends! Yeah, right; as if I didn’t know! Phew! I did everything within my power to stay away from any public speaking platforms and look at the irony, somehow I have ended up in a profession/place where I need to be more vocal! Never mind…

Coming to the book, it’s been written by Chris Anderson, TED Curator. You all must have heard of TED talks, haven’t you? Just to give you a brief, since its beginning in 1984 as an annual Technology, Education, and Design conference, TED has evolved into a global phenomenon, inviting experts in all fields to present what TED calls “Ideas worth spreading.” The organization has grown and expanded like anything and they have a massive fan following. Their 18-minute (or shorter) talks are hugely popular, so much that they rack up more than 1 billion views each year. These TED Talks have become the pinnacle of public speaking.

This is not a one time read. For someone like me who needs to be better at this essential and amazing skill of public speaking, this book is more like a reference point which needs to be visited every now and then. According to the author, there is no one way to give a great talk and that’s because a key part of the appeal of a great talk is its freshness. He also acknowledges that almost everyone has experienced the fear of public speaking (partly due to the fear of reputation damage). He stresses the need to be yourself – to be authentic. This book is more about tools rather than rules.

The book is structured into 21 chapters, but those are broken down in five sections which deal with the five aspects of: TED Talk preparation; The Foundation; Talk Tools, Preparation Process; On Stage and Reflection. He explores five core tools in detail: connection, narration, explanation, persuasion and revelation. There’re seven ideas on ending with power (pull back, call to action, personal commitment, values and vision, satisfying encapsulation, narrative symmetry and lyrical inspiration). Book reflects author’s decade of experience dealing with speakers. He covers important topics such as making a personal connection with audiences, explaining complicated subjects to laypeople, priming people to accept counter-intuitive ideas, and cultivating a sense of showmanship. He also addresses aspects of preparation, such as knowing what vocal styles to avoid, planning attire, and managing nervousness. It doesn’t cater solely to communications professionals but is relevant and useful to anyone who wishes to make a mark in public speaking. Chris is very thorough about how to structure an argument and rhetorically present the big idea. One of the most important points for me was to have only one idea per talk. Also the fact that, there need not be one certain method or approach to present a talk. There could be a number of different approaches for different folks and depending upon your strength and passion, anything can fly.

Book consistently harps on the importance of storytelling – to align multiple minds into a shared consciousness. Author urges you to discover what really excites you then show why it matters and flesh out each point with real examples. And to be unexpected and raise curiosity when you deliver your message. Audience empathy is central and jargon is banished with “you can only use the tools that your audience has access to”. Chris also talks about four styles to avoid including: the sales pitch, the ramble, the org bore and the inspiration performance (i.e. “park your ego”). Additionally, there’s a wealth of guidance on what to wear and help with managing nerves. Studded with psychological insights, TED Talks has some interesting material on voice and presence covering voice coaches’ advice on pitch, pace (130-170 words a minute), timbre, tone and prosody.

To sum up, this is a pretty good book providing you with much wider and interesting dimensions of the art of public speaking. The author has presented several examples from the best TED Talks and practical advice from great TED speakers. In all, he references 48 talks, and you can watch all of them in the Official TED Talk Guide Playlist.

Happy reading, folks.  Onto the 7th. Cheers.

The Lord of the Rings: The Fellowship of the Ring- Book 5 Review

Once upon a time the famous physicist Albert Einstein was confronted by an overly concerned woman who sought advice on how to raise her small son to become a successful scientist. In particular she wanted to know what kinds of books she should read to her son.

“Fairy Tales,” Einstein responded without hesitation.

“Fine, but what else should I read to him after that?” the mother asked.

“More fairy tales,” Einstein stated.

“And after that?”

“Even more fairy tales,” replied the great scientist, and he waved his pipe like a wizard pronouncing a happy end to a long adventure.

(Source-Brainpickings)

Above story prompted me to go for this book. It is not an easy book to review. I mean, how would you review one of the most celebrated pieces of fiction/fantasy ever written, turned into a humongous series of movies, universally admired and acclaimed?! I was always a fan of Lord of the Ring (LOTR) trilogy; surreal visuals, depth of characters, scale & vision of the director and studio- just everything about the movie series felt grand. It wasn’t until recently that I felt like reading Harry Potters, Chronicle of Narnias & LOTRs of the world, having seen all these movies long back. Primary reason was, I wanted to explore all the literature genres hitherto untouched and secondly, being a part of Education field, I felt it might fire up my own creativity and give me some ideas as Einstein reiterated above.

“The Lord of the Rings” is often considered as the pinnacle of fantasy literature. Written by professor of linguistics J.R.R. Tolkien, it is a high-fantasy epic- something that the movie series did much to cement in popular culture. The richness of the world Tolkien created is just stunning. A major portion of the book is devoted to telling the history of the places hobbit Frodo and his companions’ journey through and the people they encounter. It’s a large narrative about Middle Earth where everyone and everything has a story. Everything matters. Nothing feels as though it was just thrown in Frodo’s path errantly by Tolkien to further the plot. Tolkein’s descriptions of a place or of some particular race is so vivid and detailed that too often you find yourself pausing for a while and visualizing the entire picture. You could clearly see in your mind’s eyes landscape of the Shire in autumn as Frodo, Sam, and Pippin began their trek away from Bag End.

The book is set in a world created by Tolkien, called Middle Earth. From Hobbit holes to fiery mountains, The Fellowship of the Ring follows the journey of a misfit group on a noble mission to conquer evil. The main character, Frodo, inherits a magical ring that could cause the end of the world. With a fellowship of man, hobbit, elf, and dwarf alike, Frodo goes on a quest to Mt. Doom to destroy this ring. Along the way, he and his friends encounter many obstacles of astounding proportions, which they must deal with to finish their quest. The fantastical nature lends itself to the fairy-tale genre, but the complex nature of the plot can enthrall people of all ages. On one hand, it captures the attention of young readers with fantasy characters and at the same time, it pulls adults with messages of hope, persistence, and honor. The way Tolkien uses the characters to add atmosphere to the story is simply spellbinding. Take any character and you will find it highly detailed, physically and emotionally. The book is essentially just one huge road trip, which brings you from town to town. The journey is quite believable, and so you can understand the expedition more so, Tolkien created a map of Middle Earth, which is included with the books.

The storyline has one single plot of Frodo traveling to Mt. Doom to destroy “The one ring”, leading into countless subplots, which add to the texture of the novels. The book includes a generous dose of poetry which adds to the depth of the plot. Each race has a distinct style of poetry. So for instance, if hobbits sing about their day to day lives then elves wax lyrical about beauty and timelessness. At times, these poems can be distracting but all in all, they also help in delving deep into the mindset of his races. Books introduces several fascinating creatures like dwarfs, Elfs, Orcs, Balrogs, Goblins etc with each of them having distinct characteristics. You will love some of them and hate with equal fervour some others.

If you are wondering about movie adaptation and how faithful was Peter Jackson to the books, then you are sure to find certain deviations. He did an incredible job of adapting such fantastical, epic and well-loved books, but there are many ways in which the stories and their telling differ. Some parts changed, minor characters given larger roles and the feel and pacing differ greatly. Movie has more action and adventure However, what Tolkien provides is a much different experience. In real time, almost, day by day, he is recounting what happened to his characters and he will not be rushed. He is not interested in where the story is going, but the journey itself. Thus, the landscape and the history are important to what he is doing. It gives a much greater sense of distances covered and time passed. The richness of his world starts to come alive once you start reading slowly and going with the pace of the author.

To sum up, I thoroughly enjoyed reading this book. It’s not a book written for kids. Taking a passage from brainpickings once again;  “I do not believe that I have ever written a children’s book,” the great Maurice Sendak once said in an interview. “I don’t write for children,” he told Colbert. “I write — and somebody says, ‘That’s for children!’” This sentiment — the idea that designating certain types of literature as “children’s” is a choice entirely arbitrary and entirely made by adults”.

Do read the book and As Tolkien says, “Creative fantasy, because it is mainly trying to do something else … may open your hoard and let all the locked things fly away like cage-birds.”

Looking forward to see how the other two volumes hold up.

Happy reading, folks. Cheers.

 

Homo Deus: A Brief History of Tomorrow- Book 4 Review

Yuval Noah Harari is someone who makes history look very sexy. It’s not just about him being a historian but more about how he analyses and interprets history that makes you look at the entire subject in a completely new light. The book “Homo Deus” is a sequel to his first bestseller book  “Sapiens: Brief History of Human Kind”, which was an amazing book; one of the very best that I have ever read. Homo Deus” takes off where “Sapiens” left off; it is a “brief history of tomorrow.”

In Sapiens, we read about how Homo-Sapiens progressed from hunter gatherers through the umpteen societal revolutions that took us to our current position whereas Homo Deus describes the possible futures we might envision. Harari builds a pretty solid and convincing case for how the world of technology might blend with or destroy Homo Sapiens in coming times. It is forward looking and speculative. This book is a wonderful blend of history, philosophy, science, religion, and economics into one cohesive narrative.

The book begins with “New Human Agenda”, raising questions like What will we strive for? Basically the world has done well for itself so far. We have controlled diseases, controlled poverty, reduced wars and have achieved many other scientific milestones. So what’s next?  We humans are never satisfied with our achievements. We simply crave for more, better, faster, different. Subsequent chapters ask and tries to answers thought-provoking questions like,

• What is the difference between humans and all other animals?

• How did our species conquer the world?

•  Is Homo sapiens a superior life form, or just the local bully? What kind of world did humans create?

•  How did humans become convinced that they not only control the world, but also give it meaning?

•  How did humanism – the worship of humankind – become the most important religion of all?

•  how humans created meaning for themselves through a framework of beliefs we call religion?

•  Can humans go on running the world and giving it meaning?

• How do biotechnology and artificial intelligence threaten humanism?

• Who might inherit humankind, and what new religion might replace humanism?

•  Are organisms really just algorithms, and is life really just data processing?

•  What’s more valuable — intelligence or consciousness?

•  What will happen to society , politics and daily life when non-conscious but highly intelligent algorithms know us better than we know ourselves?

There are some scary propositions proposed in the book. The way humans are relentlessly moving forward, we are more likely to live longer and have super human qualities but it is most likely to be the preserve of the techno super-rich, the masters of the data universe. At the same time, there is a high possibility of redundancy of labour, supplanted by efficient machines that will create an enormous “useless class”, without economic or military purpose.

“Sapiens evolved in the African savannah tens of thousands of years ago, and their algorithms are just not built to handle twenty-first-century data flows. We might try to upgrade the human data-processing system, but this may not be enough. The Internet-of-All-Things may soon create such huge and rapid data flows that even upgraded human algorithms would not be able to handle them. When cars replaced horse-drawn carriages, we didn’t upgrade the horses – we retired them. Perhaps it is time to do the same with Homo sapiens.”

“The individual will not be crushed by Big Brother; it will disintegrate from within. Today corporations and governments pay homage to my individuality and promise to provide medicine, education and entertainment customized to my unique needs and wishes. But in order to do so, corporations and governments first need to break me up into biochemical subsystems, monitor these subsystems with ubiquitous sensors and decipher their workings with powerful algorithms. In the process, the individual will transpire to be nothing but a religious fantasy.”

Harari has given a fascinating detail of the concept of humanism and how it came to be our new belief system. As per this concept, the meaning of life comes from each of us individually. Earlier the Gods and Godmen used to determine morality, the rights and wrongs but now humanism says that all we need to do is pay attention to what it is we think and feel. Take for examples, phrases like, “beauty is in the eye of the beholder”, “voter knows best”, “Always listen to your heart” or the most prophetic words uttered by all the corporate giants- “the customer is always right” etc. However, the all pervasive humanism is giving way to a new belief system that is slowly engulfing the worlds amidst the advancing technologies which may well become more powerful than humanism. He refers to it as “Dataism”.

He says that, “Dataism declares that the universe consists of data flows, and the value of any phenomenon or entity is determined by its contribution to data processing. This may strike you as some eccentric fringe notion, but in fact it has already conquered most of the scientific establishment. If humankind is indeed a single data-processing system, what is its output? Dataists would say that its output will be the creation of a new and even more efficient data-processing system, called the Internet-of-All-Things. Once this mission is accomplished, Homo sapiens will vanish.”

“If Kindle is upgraded with face recognition and biometric sensors, it will know how each sentence you read influenced your heart rate and blood pressure. It will know what made you laugh, what made you sad and what made you angry. Soon, books will read you while you are reading them.”

“Every day millions of people decide to grant their smartphone a bit more control over their lives or try a new and more effective antidepressant drug. In pursuit of health, happiness and power, humans will gradually change first one of their features and then another, and another, until they will no longer be human.”

Dataists consider universe as an unrelenting flow of data, whereby each of us absorbs and emits countless bits of data daily. Ever noticed how each one of us consistently receive emails, text messages, read articles, and simultaneously produce our own data in response to these? If humanism put emphasis on the importance of feeling, sensing and having experiences, dataism tells you the importance of sharing experiences. Dataists believe in the importance of data being free and envisions a future where there is one all-encompassing data system which is all-knowing and all-powerful. Our meaning would then be established from merging with this system that is larger than ourselves. Should this occur, it would result in a shift in our focus from ourselves to a system that knows us better than we know ourselves.

I would also like to quote few striking quotes from the book:- “

In the twenty-first century, the third big project of humankind will be to acquire for us divine powers of creation and destruction, and upgrade Homo sapiens into Homo deus.

“For the first time in history, more people die today from eating too much than from eating too little; more people die from old age than from infectious diseases; and more people commit suicide than are killed by soldiers, terrorists and criminals combined.”

As technology enables us to upgrade humans, overcome old age and find the key to happiness, won’t people care less about fictional gods, nations and corporations, and focus instead on deciphering the physical and biological reality?

Sapiens don’t behave according to a cold mathematical logic, but rather according to a warm social logic. We are ruled by emotions.

All large-scale human cooperation is ultimately based on our belief in imagined orders.

History isn’t a single narrative, but thousands of alternative narratives. Whenever we choose to tell one, we are also choosing to silence others.

But if you enter medical school today in the expectation of still being a family doctor in twenty years, maybe you should think again. With such a Watson around, there is not much need for Sherlocks.

There are no longer natural famines in the world; there are only political famines. If people in Syria, Sudan or Somalia starve to death, it is because some politician wants them to.

Fiction isn’t bad. It is vital. Without commonly accepted stories about things like money, states or corporations, no complex human society can function.

Individuals will become  just a collection of ‘biochemical subsystems’ monitored by global networks

On the other hand, if shit just happens, without any binding script or purpose, then humans too are not confined to any predetermined role. We can do anything we want — provided we can find a way. We are constrained by nothing except our own ignorance.

When the moment comes to choose between economic growth and ecological stability, politicians, CEOs and voters almost always prefer growth. In the twenty-first century, we shall have to do better if we are to avoid catastrophe.

For countless generations our biochemical system adapted to increasing our chances of survival and reproduction, not our happiness.

When you contemplate whom to marry, which career to pursue and whether to start a war, Dataism tells you that it would be a complete waste of time to climb a high mountain and watch the sun setting into the waves. It would be equally futile to visit a museum, write a private diary or have a heart-to-heart talk with a friend.

The upgrading of humans into gods may follow any of three paths: biological engineering, cyborg engineering and the engineering of non-organic beings.

When genetic engineering and artificial intelligence reveal their full potential, liberalism, democracy and free markets might become as obsolete as flint knives, tape cassettes, Islam and communism.

Silencing annoying noises inside my head seems like a wonderful idea, provided it enables me to finally hear my deep authentic self. But if there is no authentic self, how do I decide which voices to silence and which to amplify?

Never in history did a government know so much about what’s going on in the world — yet few empires have botched things up as clumsily as the contemporary United States. It’s like a poker player who knows what cards his opponents hold, yet somehow still manages to lose round after round.

This is one gem of a book that engages with its reader on so many levels. Presented in an objective manner, this challenges you to go deep, take a deep breath and imagine all the possible consequences and a fast changing world. You can already witness changing job profiles, emergence of Artificial Intelligence, Robotics, privacy cries and all the related stuffs. Homo Deus is so densely populated with ideas that will make you question the direction that the world is going in and whether you like it or not, you need to think accordingly. It’s more like unlearn all the learnings and relearn things just so that you remain in sync with changing dynamics. As Harari suggests that, “Since intelligence is decoupling from consciousness, and since non-conscious intelligence is developing at breakneck speed, humans must actively upgrade their minds if they want to stay in the game.” My suggestion, get a hold of both the books, Sapiens & Homo Deus and read deeply.

Happy Reading, folks. Cheers.