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About the Tim Ferriss Book Club
#1 New York Times best-selling author Tim Ferriss (The 4-Hour Workweek, The 4-Hour Body) is a big fan of audiobooks and their potential to alter and improve lives. So, in 2013, he started an audiobook club for his community of 1.5 million blog readers. He selected books that had a dramatic impact on his life and thinking, producing great new recordings that bring these influential gems into the limelight. For more listens from Tim Ferriss’ Book Club, click here.
What made the experience of listening to What I Learned Losing a Million Dollars the most enjoyable?
This book was a great listen. The author reiterates his experience which is very valuable for those reading.
Was this a book you wanted to listen to all in one sitting?
Yes. The prinicples of losing a million dollars can be applied to many different areas in one's life surprisingly.
11 of 11 people found this review helpful
This book is actually a couple decades old. Anyone interested in this sort of thing ought to listen through at least one book like this. I like personally losing big as a centerpiece to the work: it wipes out that phony "I made a zillion dollars easy!" baloney. It seems to me that, with a basic arc of the story being, this writer was young and pretty clever and made a few moves and wound up with a lot of other people's money (and trust) in his hands, and proceeded to blow up, lose all the trading positions and get closed out. This story is told well (and more briefly) in a fave book of mine, Taleb's Fooled by Randomness. Here, there is a lot of color and detail of an earlier era, though of course the situations are not fundamentally different. A lot of terminology (including informal terminology) is described, plainly and well. And the author seemingly wanted to cram in any personal wisdom that might seem to sort of fit.
This book shows its age in some other ways. How about Steve Jobs presented as a guy who started clever, burned out, and wound up in some nowhere company making no profit? Oops, bad timing as the worst moment in his career was focused on, and the historical next chapter had not yet begun. But this is alright -- it reminds us how the supposedly smart declarations and prognostications of the writers of any time are bound to their own unavoidable limitations, and often seem quaint and bizarre later. That's one reason I read older books: to see what people got WRONG. So much for all of our fond assumptions, and that's the core message of this book.
6 of 6 people found this review helpful
What did you like most about What I Learned Losing a Million Dollars?
It is a different take on the usual "How to make a million dollars doing x, y, z".
What was one of the most memorable moments of What I Learned Losing a Million Dollars?
Actually the piece at the end where the guy who penned the book tells about his experience of the interviews etc
Which character – as performed by Patrick Lawlor – was your favourite?
He was a great narrator throughout the book. I would look for his name in future audio books.
Was there a moment in the book that particularly moved you?
Hard to say without giving too much of the plot away. There are many high and low points through the book.
Any additional comments?
Highly recommended, in my top ten audio books for the past few years.
2 of 2 people found this review helpful
I'm a trader, buy & (mostly) sell indices so naturally I was keen to hear this story given my early losses. I almost gave up on the book as the beginning is almost exclusively early life story. I felt it was too detailed but once he talks about his experiences you'll nod your head & smile ruefully knowing you've made the same e cruising errors.
Definitely worth your time.
1 of 1 people found this review helpful
My key takeaway from this book is summarised as follows
1 there are many methods of approaching markets to make money . My job is to find those that suit me
2 whatever method is used to make money I think that the difference between a successful market participant and the unsuccessful is how losses are managed
3 to manage well I need a plan. I need tools to implement the plan. And I need discipline to stick to the plan.
Enjoyable and informative book. Big thanks
What did you like best about What I Learned Losing a Million Dollars? What did you like least?
I loved the lessons on how to not lose money and how they can be applied to everyday life rather than just investing.
What other book might you compare What I Learned Losing a Million Dollars to, and why?
What three words best describe Patrick Lawlor’s performance?
Very assertive voice
If this book were a film would you go see it?
If it's different to the book and is universally acclaimed, then absolutely!