The Library of Mistakes

Latest Episodes:

EP 29: The Bankers' New Clothes (with Anat Admati) Sep 19, 2024

Show notes

In this lively episode, Anat Admati (Professor of Finance and Economics at Stanford) explains what she believes to be wrong about banking, and how it should be changed. Anat is co-author (with Martin Hellwig) of The Bankers' New Clothes, originally published in 2013, then expanded and re-published this year to encompass the era of increased regulation. Interviewer Russell Napier challenges Anat on some of her opinions, and Anat challenges Russell back, making for a fascinating listen.
Produced by Fraser Allen.
www.libraryofmistakes.com
•The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course

EP 28: The Twilight Before The Storm (with Viktor Shvets) Sep 05, 2024

Show notes

Technology is transforming our societies, promising a far deeper disruption than the industrial revolutions. As a result, humanity is at a major turning point, and how we respond to the merger of technology and financialisation will decide our future. Are we heading for "enlightened communism" or "despotic feudalism"? Russell Napier quizzes Viktor Shvets on his throught-provoking book The Twilight Before The Storm.
•The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course
Produced by Fraser Allen.
www.libraryofmistakes.com

EP 27: Seven Crashes (with Harold James) Jul 08, 2024

Show notes

Join Russell Napier for a fascinating discussion with Harold James, author of Seven Crashes: The Economic Crises That Shaped Globalisation. And unlike many of our episodes, brace yourself for a relatively optimistic conclusion!
•The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course
Produced by Fraser Allen.
www.libraryofmistakes.com

EP 26: The Rise Of Carry (with Tim Lee & Kevin Coldiron) Jun 18, 2024

Show notes

Russell Napier revisits a book that slipped out during the pandemic crisis but does, he believe, deserve considerable attention. Listen to him quizzing Tim Lee and Kevin Coldiron, two of the authors of The Rise of Carry: The Dangerous Consequences of Volatility Suppression and the New Financial Order of Decaying Growth and Recurring Crisis.
•The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course
Produced by Fraser Allen.
www.libraryofmistakes.com

EP 25: What I Learned This Week (with Kiril Sokoloff) Apr 22, 2024

Show notes

For 40 years, Kiril Sokoloff, the founder of 13D Research & Strategy, has been picking some of the biggest turning points in financial markets. And, in 2001, he launched 'What I Learned This Week' – a must-read for anyone in the investment community. In this interview with Russell Napier, Kiril shares some of the insights he has gleaned across a long and successful career.
•The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course
Produced by Fraser Allen.
www.libraryofmistakes.com

EP 24: Investing in US Financial History (with Mark J Higgins) Mar 22, 2024

Show notes

Russell Napier and Mark J Higgins explore some of the lessons to be learned from Mark's latest book, Investing in US Financial History: Understanding the Past to Forecast the Future. The book opens with Alexander Hamilton’s financial programmes of 1790 and ends with the Federal Reserve’s battle with inflation in 2023 – and Russell welcomes the valuable way in which it fills a void in our understanding of American financial history.
•The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course
Produced by Fraser Allen.
www.libraryofmistakes.com

EP 23: Boom and Bust (with William Quinn & John D. Turner) Feb 05, 2024

Show notes

In an appetising taster of our Weekend of Mistakes at Hay Castle on 1-3 March 2024, Russell Napier is joined by the authors of Boom And Bust, William Quinn & John D. Turner, to discuss their fascinating global history of financial bubbles.
William will also be joining Russell at Hay Castle for a session called The Madness Of Crowds.
If you're accessing this podcast before 1 March 2024, there may still be tickets left for the Weekend of Mistakes. More info at https://www.haycastletrust.org/p-3525-weekend-of-mistakes-at-hay-castle.aspx
•The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course
Produced by Fraser Allen.
www.libraryofmistakes.com

EP 22: Humanomics (with Professor Deidre McCloskey) Dec 19, 2023

Show notes

Welcome to this special episode – a lecture by Professor Deirdre McCloskey recorded at the University of Edinburgh. With great humour and wisdom, Professor McCloskey discusses Humanomics, her attempt to eradicate (or at least reduce) the role of mathematics in economics. She also explores the Market Mind Hypothesis, a new approach to the understanding of the market, the mind and the rational economic man being developed here in Edinburgh at the Edinburgh Futures Institute.
[The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course]
Produced by Fraser Allen.
www.libraryofmistakes.com

EP 21: War and Gold (with Kwasi Kwarteng) Dec 01, 2023

Show notes

Financial historian and former Chancellor of the Exchequer Kwasi Kwarteng discusses War And Gold, his 500-year review of 'empires, adventures and debt'. In conversation with Russell Napier, he also looks back on the fallout from the 'fiscal statement' of September 2022 and the power of the bond markets.
(The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course)
Produced by Fraser Allen.
www.libraryofmistakes.com

EP 20: The Market Mind Hypothesis (with Patrick Schotanus) Nov 28, 2023

Show notes

Welcome to a special, extended episode recorded live at the Library of Mistakes on 15 November 2023. Cognitive economist and investment 'pracademic' Patrick Schotanus discusses his important new book The Market Mind Hypothesis, with an introduction from Russell Napier. Drawing on the thinking of Adam Smith, The Market Mind Hypothesis touches on key issues in economics, investing, and cognitive science, leading to insights that can improve markets, make investing more sustainable, increase the effectiveness of public policy and benefit society.
The two quotes that Patrick refers to in his talk are as follows:
"Now the issue, as is plain, relates to the treatment of 'consciousness' in human beings. The essence is [economics'] iniststence that we ignore... the existence of conscousness... In oppositioon to this view, I propose... that we cannot treat human beings as... mechanisms, and that we do not want to do so even if it were possible."
Frank Knight 1925
The global behavor of the market... is reminiscent of... the emergence of consciousness."
Didier Sornette 2003
[The Library of Mistakes runs an outstanding course called the Practical History of Financial Markets. To find out more, go to: www.libraryofmistakes.com/course]
Produced by Fraser Allen.
www.libraryofmistakes.com

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