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The views expressed by the speakers do not necessarily reflect the views or policies of CFA Society Colorado, its Board of Directors or its members. CFA Society Colorado does not guarantee the source, originality, accuracy, completeness or reliability of any statement, information, data, finding, interpretation, advice, opinion, or view presented, nor does it make any representation concerning the same.

November Book Club

November 16, 2017
8:00 AM - 5:00 PM

Various Locations

November Book club

THE WISDOM OF FINANCE: DISCOVERING HUMANITY IN THE WORLD OF RISK AND RETURN
by mihir desai

In 1688, essayist Josef de la Vega described finance as both “the fairest and most deceitful business . . . the noblest and the most infamous in the world, the finest and most vulgar on earth.” 

The characterization of finance as deceitful, infamous, and vulgar still rings true today – particularly in the wake of the 2008 financial crisis. But, what happened to the fairest, noblest, and finest profession that de la Vega saw? 

De la Vega hit on an essential truth that has been forgotten: finance can be just as principled, life-affirming, and worthy as it can be fraught with questionable practices.  Today, finance is shrouded in mystery for outsiders, while many insiders are uneasy with the disrepute of their profession.  How can finance become more accessible and also recover its nobility?

Harvard Business School professor Mihir Desai, in his “last lecture” to the graduating Harvard MBA class of 2015, took up the cause of restoring humanity to finance. With incisive wit and irony, his lecture drew upon a rich knowledge of literature, film, history, and philosophy to explain the inner workings of finance in a manner that has never been seen before.

This book captures Desai’s lucid exploration of the ideas of finance as seen through the unusual prism of the humanities. Through this novel, creative approach, Desai shows that outsiders can access the underlying ideas easily and insiders can reacquaint themselves with the core humanity of their profession.

The mix of finance and the humanities creates unusual pairings: Jane Austen and Anthony Trollope are guides to risk management; Jeff Koons becomes an advocate of leverage; and Mel Brooks’s The Producers teaches us about fiduciary responsibility. In Desai’s vision, the principles of finance also provide answers to critical questions in our lives. Among many surprising parallels, bankruptcy teaches us how to react to failure, the lessons of mergers apply to marriages, and the Capital Asset Pricing Model demonstrates the true value of relationships.
THE WISDOM OF FINANCE is a wholly unique book, offering a refreshing new perspective on one of the world’s most complex and misunderstood professions.    

Locations

Join us on Thursday, November 16th at the following locations to discuss this month's reading 

Cherry Creek
Time: 8:00AM
Location: Syrup -  300 Josephine St #20, Denver, CO 80206
Downtown
Time: 11:30 AM - 12:30 PM, soup, salad and sandwich spread will be provided
Location: Denver Investments - 370 17th Street (50th Floor), Denver, CO 80202
Boulder
Time: 5:00 PM, light snacks and beer/wine will be provided
Location: Colorado Financial Management - 4840 Pearl E. Cirlce, Boulder, CO 80301
Tech Center
Time: 5:00 PM
Location: Koebel Library - 5955 S. Holly St., Centennial, CO 80121