OK, this book isn’t for everyone. As you will see from other selections, I’m intrigued by the way that people choose and the unconscious biases that influence that process. The fathers of behavioral economics are Israeli psychologists Daniel Kahneman and Amos Tversky who wrote papers together that were strikingly original. Michael Lewis, who has a deep talent for writing in worlds with so much detail and complexity that others would fail. He’s written a marvelous book here about the friendship between these two men, how the papers analyses originated and developed, and how their viewpoints changed. An excellent read.
Another book by Michael Lewis that may not interest everyone but will fascinate those who wonder about “Flash Trading” (the book’s title) — the computer-driven profit-making of minuscule differences in pricing that’s sometimes caused simply by data transmission speeds. His explanations are clear but detailed. Ordinary investors simply operate in a different world.