JIM ROGERS, author ofA Bull in China, Hot Commodities, Adventure Capitalist, and Investment Biker
"Dear Mr. Buffett is strongly, often harshly, and, more than rarely, tartly opinionated. The attitude is, however, well supported by the facts; should anyone ever display the slightest interest in criminalizing the criminals who led us down this path, a prosecutor could do worse than ordering up copies for the grand jury."
The late GREG NEWTON, Seeking Alpha
"[Tavakoli has] been railing against emperors wearing no clothes in the credit derivatives markets forever. If only people had listened."
ANDREW TOBIAS, author of The Only Investment Guide You′ll Ever Need
"A rousing tale of advice left unheeded . . . An excellent read, loaded with information about the goings–on in the financial sector."
"Janet Tavakoli . . . writes in a clear, sprightly way. Contrasting the shenanigans of recent years against the good analysis and common sense of Warren Buffett is appropriate, and helps to illustrate the levels of irrational behavior."
ADAM SMITH (George J. W. Goodman), author of The Money Game and Supermoney
"An insightful look at the global credit crisis. This book is a must–read."
JOHN P. CALAMOS Sr., Chairman, CEO, and Co–CIO, Calamos Investments
"Read this compelling book [to] understand how name–brand institutions like Merrill Lynch, Citigroup, Wachovia, and UBS collectively lost hundreds of billions of dollars in ill–conceived products they invented and sold to investors who lost much more. Janet Tavakoli saw this coming and explains what happened clearly, logically, and persuasively."
ERIC GLEACHER, Chairman, Gleacher Partners LLC
"[A] must–read. Tavakoli knows where the bodies are buried in the complex formulas . . . And as a bonus, we get Buffett′s views and insights into his derivatives trading. There′s nothing more you could ask for in this day and age of financial derivatives meltdown."
Economic Policy Journal
"A clear and pacy run through the multitude of sins and sinners in the modern financial world . . . Tavakoli makes for an attractive pundit she knows her stuff, has strong opinions, and turns a colorful quote."
Chapter 1: An Unanswered Invitation 1
Chapter 2: Lunch with Warren 9
Chapter 3: The Prairie Princes versus the Princes of Darkness 31
Chapter 4: The Insatiable Curiosity to Know Nothing Worth Knowing (Oscar Wilde Was Right) 41
Chapter 5: MAD Mortgages The Great Against the Powerless 67
Chapter 6: Shell Games (Beware of Geeks Bearing Grifts) 97
Chapter 7: Financial Astrology AAA Falling Stars 107
Chapter 8: Bear Market (I d Like a Review of the Bidding) 123
Chapter 9: Dead Man s Curve 143
Chapter 10: Bazooka Hank and Dread Reckoning (AIG, Fannie, Freddie, Lehman, Merrill, and Other Fluid Situations) 163
Chapter 11: Bond Insurance Burns Main Street 179
Chapter 12: Money, Money, Money (Warren and Washington) 191
Chapter 13: The Fogs of War, Religion, and Politics 209
Chapter 14: Finding Value 219