Tag Archives: Simon Kuper

My 2012 reading list

At the beginning of the year I set as a personal objective to read at least 15 books. This will be a low number for some of you and a high one for others. To me it looked challenging but achievable… though, I did not achieve it. I completed 10 books and started other 4 which I have not yet finished (they’ll be included in the next year reading list).

See below the list with a small comment for each one, the link to a post about the book in the blog (when applicable), links to Amazon (in case you want to get them) and sometimes to the authors. I have also included a small rating from one to three “+” depending on how much do I recommend its reading:

  1. This time is different” (by C. Reinhart and K. Rogoff) (++): very interesting book offering a comprehensive book to economic and financial crises since 8 centuries ago. The book is full of graphics, statistics, example, anecdotes… I already wrote three posts about it: “The Republic of Poyais“, “The march toward fiat money” and “¿Cómo le ha ido a España en esta crisis?“. 
  2. Le Petit Prince” (by Antoine de Saint-Exupéry) (++): even if narrated as a children’s book, it contains several idealistic messages, fine criticisms of how adults behave, etc. The teachings are mainly transmitted through conversations between a child and the prince and encounters with other characters… I wrote a post about it “Le Petit Prince“.
  3. The consequences of the peace” (by John M. Keynes) (+++): the book was written at the time of the Versailles Conference after the World War I, which he attended as a delegate from the British Treasury. In the book, Keynes explained how the disaster in the making was being produced, due to lack of communication between representatives from USA, UK, France and Italy, and the intention from Clemenceau of taking as much as possible from Germany. Keynes makes a series of estimates of Germany’s production capabilities and that of the regions being taken from it and comparing them with the pretensions that were being included in the negotiations of the treaty. In the book, he warns well in advance the economic and social disaster that the treaty is going to send Germany into. (I have not yet written a specific review of the book, but since I had underlined several passages I don’t discard writing it).
  4. Le bal des ambitions” (by Véronique Guillermard and Yann le Galès) (+): the book tells the story behind the creation of EADS and its first years. Very much like in a thriller, it gives account about the characters involved, the battles for power, etc. I wrote a post about it “Le Bal des ambitions“.
  5. Desolé, nous avons raté la piste” (by Stephan Orth and Antje Blinda) (+): The book consists of a series of awkward situations in a flight described by passengers, pilots and cabin crew, mainly miscommunications between the crew and passengers or funny messages received from the cockpit. The book originated after a collection of the anecdotes posted by readers of the online version of Der Spiegel. . See the review I wrote about it “Sorry, I missed the runway“.
  6. Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger” (by Charlie Munger, compiled by Peter D. Kaufman) (+++): the book is a compilation of Munger’s speeches, quotes, interviews, articles, letters, etc. Some of his speeches are available in Youtube (e.g. this one given for the commencement of USC Law in 2007). One of the main takeaways is the use of several mental models to analyze situations we live in our lives (instead of being stalled in the few models which we are more comfortable with). Another recurring topic is the lack of training in psychology that we get (or even his criticism of how psychology is taught in faculties). I haven’t written a post about the book, but I think I should, if only to share more of his wit and wisdom with you.
  7. The Peter Principle: Why Things Go Wrong” (by Laurence J. Peter) (+++): the book is a hilarious account of situations that arise in companies and institutions of why and how people are promoted, cornered, etc., or in his words is a treatise on hierarchology. The name of the book comes from the Peter Principle which says: “In a hierarchy, every employee tends to rise to his level of incompetence”. I already wrote about it here.
  8. 2010 Odyssey Two” (by Arthur C. Clarke) (++): the book is a sequel to the famous “2001: A Space Odyssey“, and there is a movie as about this book. The story starts with doctor Heywood Lloyd travelling in a combined Soviet-American mission to Jupiter in order to find the spaceship Discovery One from the previous mission and what went wrong with it… I won’t tell more of the plot to avoid spoiling it for someone. I would say that I liked more this book (and movie) than the first one.
  9. The Litigators” (by John Grisham) (++): this novel is very much like most of John Grisham. In this one the plot is about a star young lawyer graduated from Harvard Law School who cannot stand the pressure from a big firm and quits it to join a mediocre small firm with two partners who chase victims of small accidents to help them get some  compensation from insurance companies, with the hope of reaching the big class action which could make the rich.
  10. Soccernomics” (by Simon Kuper and Stefan Szymanski) (+++): the authors use economics’ techniques, plenty of data, statistics, citing several papers, studies, etc., in order to bring up uncovered issues about football (such as transfer market, what makes some nations more successful in football…) or refocus the attention about other ones. See the review I wrote about it.

I also completed two other partial objectives: to read at least 2 books in French and 2 about politics/economy. And as always, on the learning side from reading there is Twitter (a source of information or distraction?), the subscriptions delivered to home of the weekly The Economist and the two monthly magazines Scientific American and Toastmasters.

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Soccernomics

Soccernomics.

If you love football (soccer) and have read one of the books of the “Freakonomics” saga or any book from Malcolm Gladwell, then “Soccernomics“, by Simon Kuper and Stefan Szymanski (430 pgs.), will be a great read for you.

The book is written in the same style as the other books mentioned above: using economics’ techniques, plenty of data, statistics, citing several papers, studies, etc., in order to bring up uncovered issues about football or refocus the attention about other ones. Some examples:

  • Mastering the transfer market. Departing from the example of Billy Beane in baseball, described in “Moneyball“, by Michael Lewis (of which a movie was also made starring Brad Pitt), the authors show how pouring money in transfer markets doesn’t bring titles. The key issue is to have a balanced net investment (sales/acquisitions). In soccer the main example would be Olympique Lyon which will “sell any player if a club offer more than he is worth”, for which each player is previously assigned a price (much like value investing).
  • The more money is paid to players the better (in salaries). Instead of buying new expensive players it seems to make more sense to pay well and ensure the adaptation of the stars already playing for the team.
  • The market for managers is not yet very open (e.g. no black coaches in main European teams), thus many of them do not make a real difference. There was even an English team Ebbsfleet United who dispensed the coach and allowed subscribed fans to vote the player selection for each match.
  • The book, written at the beginning of 2012 forecasted that soon teams from big European capitals would win the Champions’ League, being those capitals: London, Paris, Istanbul and Moscow. Few months later Chelsea won its first one, let’s see the others.
  • The main factors for the success of football national teams seem to be the experience (international games played by the national team), wealth and population.
  • The authors give much weight to Western Europe dominance of football due to the interconnectedness of continental Europe. Explaining the rise of Spain in the ’90s and ’00s due to its growth in population, improved economy since joining the EU, more experience and exchanges of styles with coaches of other countries.
  • The authors claim that future national football will be dominated by countries such as Iraq, USA, Japan or China.

As you can see there are many different topics, all with some data to support them (even if sometimes you doubt about the consistency of their claims, e.g. their statements on industrial cities as dominating football, dictatorships, etc.). I marked many pages with some anecdotes or papers that I would like to read.

One final anecdote: tips given to clubs and teams in KO competitions in case they face a penalty shoot-out. In the Champions’ League final of 2008, Chelsea and Manchester United reached the penalties. An economist had given Chelsea a study of Manchester goal keeper and penalty-shooters. Once you read the book and the tips the economist provided (“Van der Sar tends to dive to the kicker’s natural side”, “most of the penalties that Van der Sar stops are mid-height, thus is better to shoot low or high”, “if Cristiano Ronaldo stops half-way in the run-up to the ball chances are 85% that he shoots to his natural side”…), it is quite interesting to actually see that penalty shoot-out and how the different players acted.

[Pay special attention at Van der Sar’s reaction at 09’40”, when it seems he noticed about Chelsea having been tipped]

I definitely recommend this book to football fans. I also recommend two other books about which I wrote in the blog some time ago: “How soccer explains the World” and “Historias del fútbol mundial“.

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