Category Archives: Book Reviews

Book Review – Amusing Ourselves to Death

Amusing Ourselves to Death: Public Discourse in the Age of Show Business
by Neil Postman, 1985

Written over thirty years ago, this diatribe rallies one against the tyranny of television. Public discourse becomes entertainment instead of rigorous debate when a culture moves from the printed word to the picture box. I do feel that much of what is said is true, and it’s even more true nowadays with the internet around to amuse us to death. I read Technopoly in a seminar in college and this pairs nicely. Here are two quotes from the last chapter that seem especially prescient. In the first, he compares the dystopias of George Orwell (1984) and Aldous Huxley (Brave New World), both of which you should read.

What Huxley teaches is that in the age of advanced technology, spiritual devastation is more likely to come from an enemy with a smiling face than from one whose countenance exudes suspicion and hate. In the Huxleyan prophecy, Big Brother does not watch us, by his choice. We watch him, by ours. There is no need for wardens or gates or Ministries of Truth. When a population becomes distracted by trivia, when cultural life is redefined as a perpetual round of entertainments, when serious public conversation becomes a form of baby-talk, when, in short, a people become an audience and their public business a vaudeville act, then a nation finds itself at risk; culture-death is a clear possibility.

In America, Orwell’s prophecies are of small relevance, but Huxley’s are well under way toward being realized. For America is engaged in the world’s most ambitious experiment to accommodate itself to the technological distractions made possible by the electric plug. This is an experiment that began slowly and modestly in the mid-nineteenth century and has now, in the latter half of the twentieth, reached a perverse maturity in America’s consuming love-affair with television. As nowhere else in the world, Americans have moved far and fast in bringing to a close the age of the slow-moving printed word, and have granted to television sovereignty over all of their institutions. By ushering in the Age of Television, America has given the world the clearest available glimpse of the Huxleyan future.

While he may miss on the importance of the computer, he does hit on the promise and letdown of Big Data:

Although I believe the computer to be a vastly overrated technology, I mention it here because, clearly, Americans have accorded it their customary mindless inattention; which means they will use it as they are told, without a whimper. Thus, a central thesis of computer technology—that the principal difficulty we have in solving problems stems from insufficient data—will go unexamined. Until, years from now, when it will be noticed that the massive collection and speed-of-light retrieval of data have been of great value to large-scale organizations but have solved very little of importance to most people and have created at least as many problems for them as they may have solved.

It is somewhat amusing that I read this book through an electronic medium (book on tape) instead of in book form.

Book Review – Get Rich with Dividends

Get Rich with Dividends: A Proven System for Earning Double-Digit Returns
by Marc Lichtenfeld, 2012

A starter guide to the dividend growth movement. I’ve already been reading a few blogs on dividend growth (Sure Dividend is my favorite), and this book confirms the thoughts I’m reading elsewhere. I’m hoping that my (currently) relatively modest holdings with grow with the power of dividend growth over the years. Companies that have a decent dividend yield with a high dividend growth rate and sustainable payout ratio are good candidates for a long term buy-and-hold portfolio. Companies like Johnson & Johnson, Walmart, and Coca Cola are good options for such portfolios. This book suggests a higher starting yield (4.7% or more) than I’m used to, but I think many stocks with 2-4% starting yields are still good. I’m open to investment discussions and information sharing, if anyone is interested.

Book Review – Ahead of the Curve

Ahead of the Curve: Inside the Baseball Revolution
by Brian Kenny, 2016

We (Maria and I) met Brian Kenny at the 2013 SABR Analytics conference. He was the keynote speaker, and advocated such things at knuckleball academies (to train knuckleball pitchers), bullpenning (using your bullpen more effectively and moving away from the dominance of the starting pitcher), and a information-saavy managerial staff to replace intuitive managers. He’s incredibly well-spoken and brings that to his work on ESPN and MLB Network, and now to his book.

Kill the win. Kill the save. Don’t sign big-money free agents. All are topics in this book, but I think the overwhelming theme is that we need to halt the tyranny of backward-thinking sports media that constantly attacks and belittles analytical thinking. Great book.

Pairs well with Moneyball, obviously (my reading of that one pre-dates when I was writing book reviews for my website). Also pairs well with Big Data Baseball, Mathletics, How to Measure Anything, and Thinking, Fast and Slow.

Book Review – Scorecasting

Scorecasting: The Hidden Influence Behind How Sports Are Played and Games Are Won
by Tobias J. Moskowitz and L. Jon Wertheim, 2011

I read this book a few years ago, but I recently re-“read” it on tape on a holiday drive. The content is interesting and the conclusions are cool and worth knowing, but I was struck with how much filler content is included in reading it a second time. You want to yell at the writers, “Just get to the point” sometimes. Also, don’t listen to this on CD, as the reader reads the entirety of the book’s tables, which is frustrating and silly. You’ll skim the tables in the actual book. Overall, a good book to read quickly, especially if you don’t know why there is a home-field advantage in sports.

Book Review – The Power Brokers

The Power Brokers: The Struggle to Shape and Control the Electric Power Industry
by Jeremiah D. Lambert, 2015

“The history of the electric power industry in the United States, created by entrepreneurs, is also the history of the exercise of political power.” (Conclusion, pg 259)

I recommend this book for those that are getting started in the energy field and need a bit of a deep dive into the context and history of political influence in electricity generation. Granted, that’s a small subset of the population. But I’m in that subset! So I thought the book was good. It is very specialized, though. It covers 7 “power brokers” in the history of electricity: Sam Insull, David Lilienthal, Donal Hodel and others at Bonneville Power, Paul Joskow, Ken Lay, Amory Lovins, and Jim Rogers. The writing takes some getting used to, but I found myself reading the later chapters at a faster pace.

Book Review – End the Fed

End the Fed
by Ron Paul, 2009

Ron Paul spent a large portion of his time in Congress fighting for sound money principles. Our current system of “fiat money” encourages excessive government spending and then inflation to wash away debt. Those who are fiscally responsible in the current era tend to have to bail out the irresponsible. This book was written right after the bailouts of the Troubled Asset Relief Program (it’s a TARP!) and carries some of the fervor of the Occupy Wall Street protests. I do wish we had a more fiscally conservative government, something neither the liberals nor conservatives seem to be offering. This book is a good overview of the economic, moral, and libertarian impacts of our current monetary policy and describes a reasonable alternative to the status quo.

I listened to the CD recording of this book, which was good.

Book Review – Superforecasting

Superforecasting: The Art and Science of Prediction
by Philip E. Tetlock and Dan Gardner, 2015

superforecasting

Great book describing insights from The Good Judgment Project, which was/is a forecasting tournament sponsored by the intelligence community. Describes how to be a superforecaster and avoid common pitfalls that ensnare “hedgehog” pundits with overconfidence. The ten “commandments” at the end of the book summarize the book well, though I would suggest reading the whole thing:
1. Triage. Focus on questions where your hard work is likely to pay off.
2. Break seemingly intractable problems into tractable sub-problems. Look up Enrico Fermi if you don’t know him.
3. Strike the right balance between inside and outside views.
4. Strike the right balance between under- and overreacting to evidence.
5. Look for the clashing causal forces at work in each problem.
6. Strive to distinguish as many degrees of doubt as the problem permits but no more.
7. Strike the right balance between under- and overconfidence, between prudence and decisiveness.
8. Look for the errors behind your mistakes but beware of rearview-mirror hindsight biases.
9. Bring out the best in others and let others bring out the best in you.
10. Master the error-balancing bicycle. Like all other known forms of expertise, superforecasting is the product of deep, deliberative practice.
(11. Don’t treat commandments as commandments.)

Book Review – Hooked

Hooked: How to Build Habit-Forming Products
by Nir Eyal, 2014

hooked

Quick read about getting users invested and addicted to your product, with a focus on apps. Walks you through four steps to build and strengthen the relationship: Trigger, Action, Variable Reward, and Investment. Draws on behavioral research in places and gives decent examples from current apps (circa 2014).

Book Review – The Marshmallow Test

The Marshmallow Test: Mastering Self-Control
by Walter Mischel, 2014

the-marshmallow-test

The marshmallow test was an experiment that checked whether kids would hold out eating a visible treat in order to get two of the treat after a wait. Turns out that this self-control was highly predictive of success in life. This book is by the architect of the original experiment and discusses ways to increase self-control to improve outcomes in life. Pairs well with Willpower.

The audiobook version is read by Alan Alda! Which makes everything better.