The World's Best Book Summaries
What are the main causes of poverty? What are the factors that keep someone in poverty? In Maid, Stephanie Land puts forth her own life as an example of how systemic problems and circumstances beyond a person’s control can force them into poverty. She shows that many factors contribute to and compound poverty. Let’s look at the main causes of poverty, using Stephanie Land’s own story of poverty as an example.
What is the key to becoming a successful trader? If you were to ask for the most important piece of trading advice, what would it be? There are many things that a successful trader must have, including knowledge of the various trading tools as well as the asset in question. But no matter how knowledgeable you are, you’ll likely fail if you don’t have a system in place. Here’s why following a system is an absolute must when it comes to trading.
What is your trading mindset? Do you focus more on minimizing risk or maximizing gains? In trading, mindset is extremely important. Most people embody a fear-based mindset when trading, focusing on avoiding risk. To achieve consistent success, we need to train ourselves to think differently and embody the winning mindset, focusing on gains. Keep reading to learn about the role of mindset in trading.
Why should the minimum wage be raised? How does Stephanie Land’s life story support the idea of the minimum wage being raised? In her memoir Maid, Stephanie Land talks about her time working as a maid. She made minimum wage, which was $8.55 an hour in Washington in 2009. Because she was in poverty and government assistance rarely helped her, the minimum wage wasn’t enough to cover her essential needs. Keep reading to learn more about why the minimum wage should be raised.
Was Stephanie Land abused? How did abuse contribute to her poverty? After getting pregnant with her daughter, Land’s boyfriend began verbally and emotionally abusing her. When she left him, she couldn’t make enough money to get herself out of poverty. Continue reading to learn about Stephanie Land and the connection between abuse and poverty.
What is economic freedom? Why is freedom important when improving underdeveloped economies? Many economies focus on establishing a utilitarian market to benefit everyone in their country, but people are left with little to no economic choices. In Development as Freedom, Amartya Sen says that free markets allow people to make their own choices and create a freer society. Keep reading to learn why economic freedom is important for a country’s development.
Do you want to learn about investing but aren’t sure where to start? What are the best investing resources to learn from? Investing can be a daunting subject. There are so many investing gurus pitching their advice and “winning formulas” on the web. Their advice is varied and often contradictory. No wonder, many wannabe investors are at a loss. If you feel like you don’t even know where to start, you’ve come to the right place! We’ve scoured the web for the best resources to learn investing including books, blogs, and podcasts. It’s not an exhaustive list by any means,
Who is Brad Katsuyama? What part did Katsuyama play in exposing Wall Street for using high-frequency trading? In Flash Boys, author Michael Lewis writes about how Brad Katsuyama, a Canadian trader with the Royal Bank of Canada (RBC), led an investigation into the unethical practices of high-frequency trading (HFT). Katsuyama further found that Wall Street’s firms and banks were using HFT to exploit regular investors. Continue reading to learn more about Brad Katsuyama’s investigation and his solution to fighting against HFT.
Who is Navinder Singh Sarao? Did he really cause the 2010 Wall Street flash crash? Navinder Singh Sarao is a self-taught financial trader who was accused of triggering a major 2010 flash crash. The event saw U.S. markets briefly plummet in value, but Michael Lewis, the author of Flash Boys, doesn’t think Sarao is largely to blame for the event. Read more for Lewis’s take on why the flash crash happened and why U.S. courts believed it was because of Navinder Singh Sarao.
How does asset diversification work? Why is it important when you’re investing in stocks? Asset diversification means spreading your assets around in a portfolio to reduce losses. Tony Robbins describes this practice in his book Money: Master the Game, in which he gives tips on how to properly diversify your assets so you don’t risk all of your stocks plummeting. For more information on the diversification of assets, keep reading.