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The Wisdom of Finance: Discovering Humanity in the World of Risk and Return

Mihir Desai

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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 takes up the cause of restoring humanity to finance. With deft wit, he draws upon a rich knowledge of literature, film, history, and philosophy to explain finance's inner workings. Through this creative approach, he shows that outsiders can easily access the underlying ideas and insiders can reacquaint themselves with the core values of their profession.

This combination of finance and the humanities creates unusual and illuminating pairings: Jane Austen and Anthony Trollope are guides to risk management; Jeff Koons becomes an advocate of leverage; and Mel Brooks' The Producers teaches us about fiduciary responsibility. In Desai's vision, the principles of finance also provide answers to critical questions in our lives: 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 an enlivening new perspective on one of the world's most complex and misunderstood professions.

This audio download comes with an accompanying reference guide.

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Praise for The Wisdom of Finance: Discovering Humanity in the World of Risk and Return

  • A charming, provocative and readable book - Financial TimesThose familiar with the world of finance will have their perspective shifted, and for the rest of us, Desai provides a welcome entry - The Boston GlobeMihir Desai is a fortunate person: he is an expert economist who is also well-read. In this book he uses his skills to provide a fascinating new perspective on modern finance, showing how the main concepts have parallels in literature and the arts. Students of finance will learn literature, students of literature will learn finance, and everybody will learn somethingLucid, witty and delightfully erudite...From the French revolution to film noir, from the history of probability to Jane Austen and The Simpsons, this is an astonishing intellectual feastThis book is startling, a stunning, erudite, fascinating look at the world as we think we know it, but it's a world where all roads lead to finance, and in particular, insurance. Highly recommendedA fascinating romp through history and Desai is to be commended for finding fresh examples away from the obvious reference points ... highly original - Money WeekDesai skilfully makes his subject accessible without dumbing it down - Director magazineThis slender but erudite treatise...does valuable work toward demystifying finance for laypeople and deepening the art for practitioners. Desai's approach will broaden and enrich any perspective - Publishers Weekly

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