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The Money Game

The Money Game

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revised edition. (Cloth) Very good plus. 176pp. Plus cards and pieces bound at rear. The Money Game was designed to teach elements of currency, money and banking. Angell won the Nobel Peace Prize for 1933. This book was written in the 1960s so brokers are mostly a dying breed but the overall concept hasn’t changed. By the time an individual investor knows of that hot tip it has been sold by those professionals and we’re left holding the proverbial bag.

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Crowds are somewhat like the sphinx of ancient fable: it is necessary to arrive at a solution of the problems offered by their psychology or to resign ourselves to being devoured by them.”— Gustave Le Bon, The Crowd: A Study of the Popular Mind, 1896 Many people choose to play the game as described by Keynes’s beauty contest: “We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be.” So all kinds of systems have sprung up to figure out what is everybody else doing? Really, they’re finding out, what has everybody else done but never solving, what will everybody else do. Irregular Rule #2: “The identity of the investor and that of the investing action must be coldly separate.” Chapter 19: Sooner or later you have to come to reality, and stop being a father to the world. Lead it, yes. Buy it. No. The author is rather personable and observant, yet another player on Wall Street, successful, but no one that will be remembered. He starts of rather light-heartedly, describing all the follies and personalities.I liked the first part (You) more than the 2nd and 3rd parts (It & They) and I found it also more interesting from a investing point of view,

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Preface: The game we create with it is an irrational one, and we play it better when we realize that, even as we try to bring rationality to it. Emotional maturity, remaining calm, keeping your cool, discipline, and patience are all used to describe a way of being in highly emotional, stressful, or anxiety filled situations. In other words, the markets. Succumbing to the stress and anxiety is why investing is so costly. Last half of the book wanders across the investment landscape with varying types of investors are explored. Anyone whose orientation is toward where the action is, where the happenings happen, should buy a copy of The Money Game and read it with due diligence." — Book WorldForgotten the title or the author of a book? Our BookSleuth is specially designed for you. Visit BookSleuth The truth is almost every investor, broker, analyst takes the accounting numbers at face value and rarely spends/has the time to look past the image management wants to project to see what’s being manipulated, why, and what it really means. Money is how the game is scored…a path to being rich. The conundrum lies in how you define rich. You can treat it as a possession to see who can collect the most or you treat it as a means to an end, the means being financial freedom and enjoyment of life.



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