10/31/2024

Beyond the Game: Leveraging Data Analytics in Football and Sports

Data, big data, data analytics, intelligence, and AI are now widely applied to football, transforming talent discovery and performance optimization. This short FT video showcases the transformative role of data in football and sports as a whole. The motivations are clear: Nearly 50% of multi-million euro transfers fall short of expectations. Mitigating the rent-seeking by players, as almost all additional revenue streams end up in wages and transfer costs, draining the clubs. Leveling an uneven playing field, where league position is often highly-correlated with wage bills and investment budgets (see Bretford example). Expanding the recruitment pool to identify untapped talent. While most major clubs now have data departments, only a few manage to truly generate added value—many of the low-hanging fruits have already been picked. If these approaches can benefit the sports industry, imagine the impact they could have on your business and industry overall. https://youtube.com/watch?v=A_pxpJgY7V4&si=V242-0cXIs_OyyuU

- Pedro

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10/28/2024

“It takes 20 years to build a reputation and five minutes to ruin it"

1irst things first: Some of the best professionals I’ve worked with in my career were from PwC. That said, there are issues that can’t be overlooked. Between 2012 and 2023, PwC faced fines totaling around €450 million for misconduct across several countries—hardly a sterling business record. The firm’s recent connection to Evergrande is just the latest episode in a series that has run far too long. The outlook isn’t much better among the other "Big Three," where similar problems persist. This highlights a need for rethinking incentives and corporate governance across the entire business-services sector, a vast industry today. The mantra of “You don’t make partner because you’re a good auditor; you make partner because you close deals” needs serious reassessment. For further insight, The Economist has an excellent read on this topic. PwC needs to rethink its global governance https://www.economist.com/business/2024/09/19/pwc-needs-to-rethink-its-global-governance from The Economist

- Pedro

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Bookshelves and Code: The Art of Efficient Problem Solving

Need to organize your bookshelf or tackle a similar task? (No need to be Picasso to come up with a few other scenarios!) You have three approaches: Bubble Sort – Simple but slow, not the most efficient. Insertion Sort – On average, you only need to compare about half of the items that came before. Quick Sort – Breaks down the items into several partitions, making it faster to sort. Surprisingly, programmers use Quick Sort to optimize code and deliver better results. From my experience, whether the challenge is physical or programming-related, the most crucial step is defining the variables and establishing a clear problem-solving framework. How you approach this will determine whether the solution takes three hours or nearly ten days! Sometimes, there’s more depth than meets the eye. https://youtu.be/WaNLJf8xzC4

- Pedro

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10/24/2024

How to take advantage on 1st law of thermodynamics minimizing the 2nd

An Insightful Essay on Solar Energy: Its Evolution and Future Prospects Solar energy has evolved dramatically over the past few decades, and its growth is nothing short of exponential. As we look to the future, this upward trajectory is expected to continue, positioning solar power as a key solution to the global energy crisis. China has firmly established itself as the leader in solar energy, excelling particularly in manufacturing. Meanwhile, Europe, despite being an early adopter in terms of installations, lags behind in production capabilities. This dynamic between regions highlights both the progress and the challenges within the global energy landscape. For anyone interested in understanding the critical role solar energy will play in solving our energy conundrum, this essay is a must-read. Solar power is going to be huge https://www.economist.com/interactive/essay/2024/06/20/solar-power-is-going-to-be-huge from The Economist

- Pedro

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10/22/2024

It feels like the future has finally caught up!

Two weeks ago, Tesla unveiled the Cybercab concept and the new Optimus Robot. It feels like the future has finally caught up! Regarding the Cybercab, I believe it's Tesla's only move to sustain its high market value. The battle for dominance in the pure EV market is being lost to Chinese automakers, and I think Elon Musk is aware of this, which is why he's pivoting to an area where Tesla still has an edge—autonomous driving and vehicle integration. In my opinion, this is a fight for survival, and European OEMs seem completely lost in the competitive landscape. As for the Optimus Robot, it's another utopian vision brought to life. Who wouldn’t want one? With an initial price point potentially around $25k, it’s a bargain for all it could offer! I have to admit, while Musk’s management style doesn’t resonate with me, one thing is undeniable—he’s a visionary thinker, always aiming big and pushing boundaries. Some of his bold dreams have already become reality https://www.bloomberg.com/news/videos/2024-10-11/why-the-robotaxi-is-such-a-risky-bet-for-tesla

- Pedro

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The other, darker, side of AI

AI is surrounded by a lot of excitement and promise for what it can bring to the world, but it's important to be aware of its 'dark side' as well. This 34-minute podcast from Deloitte Insights is an excellent introduction that you won’t want to miss. Hope you enjoy it as much as I did! https://podcasts.apple.com/es/podcast/the-press-room-from-deloitte-insights/id993339442?i=1000666278574

- Pedro

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10/20/2024

Uma opinião sobre a proposta inicial OE 2025 … gerada pelo CoPilot

Uma opinião sobre a proposta inicial OE 2025 … gerada pelo CoPilot. Agora devo validar os pontos mais importantes mencionados, mas permite-me ter um mapa para aquilo que devo ter especial atenção. Alguns pontos geram alguma perplexidade, a saber: IRS Jovem (será constitucional?), apoio ao IMT (estimular a procura em vez de estimular a oferta) e Revisão Especial de Carreiras na função publica (impacto €525m) , Tudo isto em menos de 1 minutos Opinião do CoPilot: "...Opinião: Um Passo Audacioso - Medidas-Chave no Orçamento de Estado de Portugal para 2025 À medida que Portugal navega pelas complexidades de um mundo pós-pandemia, o Orçamento de Estado para 2025 surge como um farol de visão estratégica e responsabilidade fiscal. Este orçamento não é apenas um documento financeiro; é um roteiro para a recuperação, reforma e relançamento do tecido socioeconómico da nação. Aqui, detalhamos as principais medidas propostas e seus impactos quantificados, destacando como elas visam conduzir Portugal para um futuro mais próspero e equitativo. 1. Expansão do Regime IRS Jovem Uma das medidas de destaque no orçamento de 2025 é a expansão do regime IRS Jovem. Esta iniciativa visa aliviar a carga fiscal sobre os jovens profissionais, tornando Portugal um lugar mais atraente para o talento jovem prosperar. A expansão inclui: Elegibilidade: Todos os jovens até 35 anos, independentemente das suas qualificações educacionais. Duração: Estendida para 10 anos, em vez dos 5 anos anteriores. Limite de Rendimento: Aumentado para 55 IAS (Indexante dos Apoios Sociais). Impacto Quantificado: Esta medida deverá custar ao governo aproximadamente €525 milhões. No entanto, os benefícios a longo prazo de reter talentos jovens e aumentar a sua renda disponível podem superar significativamente o impacto fiscal imediato. 2. Redução Adicional do IRS Para reduzir ainda mais a carga fiscal sobre os indivíduos, o orçamento inclui uma redução adicional no IRS. Esta medida visa aumentar a renda disponível das famílias portuguesas, estimulando assim o consumo doméstico e o crescimento económico. Impacto Quantificado: A redução adicional do IRS está projetada para custar €450 milhões. Esta redução deverá proporcionar alívio financeiro imediato aos contribuintes, fomentando uma economia mais vibrante através do aumento dos gastos. 3. Redução do IVA na Eletricidade Para enfrentar o aumento do custo de vida e promover o consumo sustentável de energia, o orçamento propõe uma redução do IVA na eletricidade. Esta medida é particularmente significativa, dado o impulso global em direção a soluções energéticas mais verdes. Impacto Quantificado: A redução do IVA na eletricidade está estimada em €110 milhões. Esta iniciativa visa não apenas reduzir as despesas domésticas, mas também incentivar a adoção de práticas energéticas eficientes. 4. Isenção de IMT e Imposto de Selo para Jovens Reconhecendo os desafios que os jovens enfrentam para entrar no mercado imobiliário, o orçamento introduz isenções de IMT (Imposto Municipal sobre as Transmissões Onerosas de Imóveis) e Imposto de Selo para indivíduos até 35 anos que compram a sua primeira casa. Impacto Quantificado: Esta medida deverá custar €60 milhões. Ao reduzir os custos iniciais da compra de habitação, visa facilitar o acesso dos jovens ao mercado imobiliário, promovendo a estabilidade financeira e o investimento a longo prazo. 5. Aumento do Complemento Solidário para Idosos (CSI) Para apoiar os segmentos mais vulneráveis da população, o orçamento inclui um aumento no Complemento Solidário para Idosos (CSI). Esta medida faz parte de uma estratégia mais ampla para melhorar a proteção social e reduzir a pobreza entre os idosos. Impacto Quantificado: O aumento do CSI está projetado para custar €70 milhões. Este reforço é crucial para melhorar a qualidade de vida dos cidadãos idosos, garantindo que tenham suporte financeiro adequado. 6. Revisões Especiais de Carreiras O orçamento aloca recursos significativos para a revisão e valorização de carreiras especiais no setor público, incluindo professores, profissionais de saúde e forças de segurança. Esta medida visa resolver questões de estagnação salarial e progressão na carreira. Impacto Quantificado: As revisões especiais de carreiras deverão custar €523 milhões. Ao investir na força de trabalho do setor público, o governo visa melhorar a prestação de serviços e a satisfação dos funcionários. 7. Co-Pagamento de Medicamentos para Veteranos Em reconhecimento aos sacrifícios feitos pelos veteranos, o orçamento inclui uma medida para cobrir o co-pagamento de medicamentos para este grupo. Esta iniciativa faz parte de um esforço mais amplo para honrar e apoiar aqueles que serviram a nação. Impacto Quantificado: Esta medida está estimada em €10 milhões. Proporciona alívio financeiro essencial aos veteranos, garantindo que tenham acesso aos medicamentos necessários sem dificuldades financeiras. 8. Pacote de Mobilidade Verde Para promover o transporte sustentável e reduzir as emissões de carbono, o orçamento introduz um Pacote de Mobilidade Verde. Isto inclui incentivos para a adoção de veículos elétricos e melhorias na infraestrutura de transporte público. Impacto Quantificado: O Pacote de Mobilidade Verde está projetado para custar €68 milhões. Este investimento deverá trazer benefícios ambientais a longo prazo e melhorar a qualidade de vida urbana. 9. Apoio aos Regimes Ecológicos na Agricultura O orçamento também foca no apoio a práticas ecológicas na agricultura. Esta medida visa promover métodos agrícolas sustentáveis, garantindo a saúde ambiental a longo prazo e a segurança alimentar. Impacto Quantificado: O apoio aos regimes ecológicos na agricultura está estimado em €60 milhões. Esta iniciativa é crucial para fomentar práticas agrícolas sustentáveis e proteger o meio ambiente. Conclusão O Orçamento de Estado de Portugal para 2025 é um plano abrangente que equilibra impactos fiscais imediatos com benefícios socioeconómicos a longo prazo. Ao focar na redução de impostos, proteção social, práticas sustentáveis e investimento no setor público, o governo visa criar uma sociedade mais resiliente e equitativa. Estas medidas, quantificadas e estrategicamente direcionadas, refletem um compromisso com o crescimento, apoio aos vulneráveis e garantia de um futuro sustentável para todos os cidadãos portugueses. ..."

- Pedro

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10/19/2024

And the Winner is… Artificial Intelligence (AI)!

And the Winner is… Artificial Intelligence (AI)! This year, the Nobel Prizes in both Chemistry and Physics have recognized the profound, transformative impact that AI has had in these fields. In Physics, the prize was awarded to John Hopfield and Geoffrey Hinton. Hopfield’s work on the Hopfield network, a type of artificial neural network that mimics a physical system known as spin glass, earned him recognition (though I’ll need to delve deeper into spin glass myself!). Hinton, on the other hand, was honored for his pioneering contributions to backpropagation, a crucial algorithm used to train neural networks—something I’m more familiar with! In Chemistry, the prize went to Demis Hassabis and John Jumper from DeepMind, as well as David Baker. Hassabis and Jumper were recognized for their groundbreaking work on AlphaFold, an AI program capable of predicting the 3D structure of proteins—a major leap for biological research. Baker was awarded for his innovative computer-aided design of new proteins through his work on the Rosetta platform. AI wins big at the Nobels https://www.economist.com/science-and-technology/2024/10/10/ai-wins-big-at-the-nobels from The Economist

- Pedro

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Key Insights from McKinsey's Article on Trucking Macro-Trends

I recently came across a fascinating and insightful article by McKinsey about macro-trends in the trucking industry. Here are my key takeaways: Market Growth: The autonomous truck market could reach more than $600 billion globally by 2035, with China accounting for $327 billion, the US for $178 billion, and the EU for $112 billion. Addressing Key Challenges: Autonomous trucks are positioned to tackle critical industry challenges, including driver shortages and rising transportation costs. Key Use Cases: Initially, autonomous trucks are expected to focus on hub-to-hub routes, with future advancements enabling more complex operations like distribution center-to-distribution center transportation. Cost Savings: The potential reduction in Total Cost of Ownership (TCO) is significant—up to 42% for long distances (1,500–2,000 miles) and around 13% for shorter hauls (100–250 miles). (Remember to multiply miles by 1.6 to convert to kilometers!) New Business Models: The rise of autonomous trucking will also spur the development of new business models such as Driver-as-a-Service (DaaS) and Capacity-as-a-Service (CaaS). Happy reading! https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/will-autonomy-usher-in-the-future-of-truck-freight-transportation?stcr=F482C34899134541A930808F61EB61FE&cid=other-eml-alt-mip-mck&hlkid=47a2dda332cb42f1a7a58469803e6c4d&hctky=13017974&hdpid=6032b0ff-8a06-49fd-8e31-7fcb3b329ca1

- Pedro

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10/18/2024

AlphaGo - The Movie - Available on You Tube

A fantastic documentary about the early stages of DeepMind, btw their associates Demis Hassabis and John Jumper just received the Chemistry Nobel Prize for AlphaFold, is available on YouTube (link below). I highly recommend watching it! The 1-hour and 30-minute documentary gives incredible insight into the power of AI and AGI, specifically how it was applied to the game of Go. While the entire documentary is captivating, the highlight for me was Game 4, where Lee Sedol, the world champion of Go, made an astonishing 1-in-10,000 move to defeat AlphaGo (at the 1h07 mark). It’s fascinating to see how games, much like in the 17th century with the development of probability and statistics, were used as a testing ground for this cutting-edge technology back in 2016. If AI could perform at this level against a brilliant mind in such a complex game (winning 4-1), just imagine what it can do today, 8 years later, for you and your organization. I hope you enjoy it as much as I did. I’ll be watching it again soon with my kids! "...With more board configurations than there are atoms in the universe, the ancient Chinese game of Go has long been considered a grand challenge for artificial intelligence. On March 9, 2016, the worlds of Go and artificial intelligence collided in South Korea for an extraordinary best-of-five-game competition, coined The DeepMind Challenge Match. Hundreds of millions of people around the world watched as a legendary Go master took on an unproven AI challenger for the first time in history. Directed by Greg Kohs and with an original score by Academy Award nominee Hauschka, AlphaGo had its premiere at the Tribeca Film Festival. It has since gone on to win countless awards and near universal praise for a story that chronicles a journey from the halls of Oxford, through the backstreets of Bordeaux, past the coding terminals of DeepMind in London, and ultimately, to the seven-day tournament in Seoul. As the drama unfolds, more questions emerge: What can artificial intelligence reveal about a 3000-year-old game? What can it teach us about humanity? Best documentary winner: Denver International Film Festival (2017), Warsaw International Film Festival (2017), and Traverse City Film Festival (2017). Official selection at Tribeca Film Festival (2017), BFI London Film Festival (2017), and Critics' Choice Documentary Awards (2017). ..." https://youtu.be/WXuK6gekU1Y?si=gByIowKsxzwG0ysH

- Pedro

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10/15/2024

“…If you have a dumb incentive system, you get dumb outcomes…”

“…If you have a dumb incentive system, you get dumb outcomes…” This famous quote by the late Charlie Munger remains as relevant as ever. In another brilliant article from the Bartleby column in The Economist, the author explores the challenges of designing incentive systems that lead to meaningful and desirable outcomes. The article highlights the difficulties in crafting systems that not only motivate but also avoid unintended consequences. There are 1.001 (like in Sherazade tale) ways an incentive system can go wrong, so it's important to take your time. Pilot programs and thorough reviews are crucial to ensure the system works as intended and doesn't produce harmful side effects—something the article explores in great detail. A must-read for anyone interested in management. Hope you enjoy it as much as I did. When workplace bonuses backfire https://www.economist.com/business/2024/10/10/when-workplace-bonuses-backfire from The Economist

- Pedro

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Useful tips series - Looking for a job? or are you preparing to hire someone? This post is for you

Looking for a job? or are you preparing to hire someone? This is for you. (useful tips series) Based on on GlassDoor these are the top 50 questions that the formers should prepare and the latters avoid :-): 1.What are your strengths? 2.What are your weaknesses? 3.Why are you interested in working for [insert company name here]? 4.Where do you see yourself in five years? Ten years? 5.Why do you want to leave your current company? 6.Why was there a gap in your employment between [insert date] and [insert date]? 7.What can you offer us that someone else can not? 8.What are three things your former manager would like you to improve on? 9.Are you willing to relocate? 10.Are you willing to travel? *(Post COVID-19) 11.Tell me about an accomplishment you are most proud of. 12.Tell me about a time you made a mistake. 13.What is your dream job? 14.How did you hear about this position? 15.What would you look to accomplish in the first 30 days/60 days/90 days on the job? 16.Discuss your resume. 17.Discuss your educational background. 18.Describe yourself. 19.Tell me how you handled a difficult situation. 20. Why should we hire you? 21.Why are you looking for a new job? 22.Would you work holidays/weekends? 23.How would you deal with an angry or irate customer? 24.What are your salary requirements? 25.Give a time when you went above and beyond the requirements for a project. 26.Who are our competitors? 27.What was your biggest failure? 28.What motivates you? 29.What’s your availability? 30.Who’s your mentor? 31.Tell me about a time when you disagreed with your boss. 32.How do you handle pressure? 33.What is the name of our CEO? 34.What are your career goals? 35.What gets you up in the morning? 36.What would your direct reports say about you? 37.What were your bosses’ strengths/weaknesses? 38.If I called your boss right now and asked him/her what is an area that you could improve on, what would he/she say? 39.Are you a leader or a follower? 40.What was the last book you read for fun? 41.What are your co-worker pet peeves? 42.What are your hobbies? 43.What is your favorite website? 44.What makes you uncomfortable? 45.What are some of your leadership experiences / What is your leadership style? 46.How would you fire someone? 47.What do you like the most and least about working in this industry? 48.Would you work 40+ hours a week? 49.What questions haven’t I asked you? 50.What questions do you have for me? Hope this list will be helpful either case :-) https://www.glassdoor.com/blog/common-interview-questions/?utm_source=lifecycle&utm_medium=email&utm_campaign=postonboarding_us&utm_content=day_15_worklife_1&utm_messageid=&cm=EMAIL_LIFECYCLE

- Pedro

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10/14/2024

Have you already baked in, at least as a likely scenario, a >$100 barrel of oil for at least the first half of 2025? If not, why?

Have you factored in the likelihood of oil prices exceeding $100 per barrel for at least the first half of 2025? If not, why? In my opinion, it's not a question of if but when, as a strong retaliation from Israel to the Iranian attack seems almost inevitable. The timing is uncertain—perhaps only after the U.S. elections—but even that is speculative, given the potential unpredictable impact on the election outcome as events unfold. You can't say this would come as a surprise, given the geopolitical situation in the Middle East, which is on the verge of a significant and impactful development. Great article from The Economist on this topic, which I highly recommend. Could war in the Gulf push oil to $100 a barrel? https://www.economist.com/finance-and-economics/2024/10/07/could-war-in-the-gulf-push-oil-to-100-a-barrel from The Economist

- Pedro

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Contrary to previous beliefs and models, it seems Antarctica is undergoing significant changes.

Contrary to previous beliefs and models, it seems Antarctica is undergoing significant changes. Known as Earth's refrigerator, situated in a vast ocean and acting as a major carbon dioxide sink, Antarctica is now showing signs of thawing—potentially leading to major impacts on sea levels and global temperatures. It appears that Antarctica is starting to behave similarly to the Arctic, which is a major concern for the scientific community. Given the delicate balance of Earth's ecosystem, this development represents one of the worst-case scenarios and news we could face/receive. On the radar! Antarctica, Earth’s largest refrigerator, is defrosting https://www.economist.com/interactive/science-and-technology/2024/03/27/antarctica-earths-largest-refrigerator-is-defrosting from The Economist

- Pedro

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10/13/2024

A começar um novo livro - Da Democracia na América, de Alexis de Tocqueville

A começar um novo livro! Da Democracia na América, de Alexis de Tocqueville, com prefácio de João Carlos Espada e tradução de Carlos Correia Monteiro de Oliveira. Aproveitando o facto de estarmos em período de eleições nos EUA, não há melhor momento para ler este clássico de ciência política. Avaliação da comunidade goodreads 4..05/5 (Qualitativo - Bom n=25.898) https://www.goodreads.com/book/show/34928948-da-democracia-na-am-rica "... Pela primeira vez em português, eis o texto integral da mais famosa obra de Alexis de Tocqueville. Desde a sua primeira publicação, em 1835, que «Da Democracia na América» é uma obra indispensável para quem se interessa pela democracia ou se dedica ao seu estudo. Através de uma análise minuciosa que atravessa diversos domínios, como a História, a Filosofia, a Sociologia e a Ciência Política, Tocqueville oferece-nos um retrato lúcido, cada vez mais intemporal, da democracia americana de meados do século XIX: a sua organização política e administrativa, onde destaca, entre muitos outros aspectos, o sistema federal e as comunidades locais; a importância das boas leis, dos hábitos e costumes; os efeitos da moral e da religião; as consequências do desenvolvimento comercial e industrial... Mas vai mais longe, e, com enorme acuidade, analisa também o homem democrático, as suas tendências e paixões e a sua complexa relação com a liberdade e a igualdade. No fundo, e tendo sempre presente o seu país de origem, Tocqueville está também a interrogar-se sobre as razões por que são tão evidentes as diferenças entre os regimes democráticos francês e americano, por que, na América, a sociedade democrática é liberal, e, em contraposição, a democracia francesa demonstra tantas dificuldades em manter um regime político de liberdade. ..."

- Pedro

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Are you aware of what is Systems Thinking? I wasn't and this BCG podcast triggered my interest

I just listened to the Ideas podcast by BCG featuring Michael C. Jackson on Systems Thinking, and I really enjoyed it. It introduced me to a domain I wasn’t previously aware of, and although it seems potentially complex, it also appears to be highly useful. As a result, I’ve added three of Jackson’s books to my business reading list, and I plan to explore this topic further to see how it might be applied in practice: 1- Critical Systems Thinking: A Practitioner’s Guide 2- Critical Systems Thinking and the Management of Complexity 3- Systems Approaches to Management From what I gathered, the key traits of critical systems thinking include: -Its ability to address complex and dynamic problems. -Understanding the interrelations between different parts of an organization (i.e., systems), which helps avoid optimizing a single area or department at the expense of the overall organization. Often, these local optimizations are in conflict with broader organizational goals. -The framework allows for multiple perspectives within an organization, helping to understand the interdependencies that exist. Ultimately, critical systems thinking helps organizations generate more value by providing an integrated framework for overall systems optimization, rather than focusing on isolated parts. It will be on my radar! "...In Critical Systems Thinking: A Practitioner's Guide, Michael C. Jackson emphasizes the need for integrating diverse systems methodologies to navigate complexity and uncertainty. Jackson, an emeritus professor of management systems and former dean of the University of Hull Business School, has also served as president of several prominent systems thinking organizations, including the UK Systems Society, the International Federation for Systems Research, and the International Society for the Systems Sciences. His most significant contribution to the field is his development of Critical Systems Thinking (CST), which emphasizes the combined use of different systems approaches to deal with the complexity that leaders face. In a conversation with Martin Reeves, Chairman of the BCG Henderson Institute, Jackson introduces the EPIC process (Explore, Produce, Intervene, and Check), a four-stage, sequential framework to help leaders deploy systems methodologies. Their discussion includes how different systems perspectives can be combined, how theory informs interventions, how organizations are embracing system thinking, barriers to adoption, and the relevance of systems thinking to today’s business environment. ..." https://podcasts.apple.com/es/podcast/thinkers-ideas/id1450867110?i=1000671421317

- Pedro

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10/12/2024

Sobre la brevedad de la vida por Seneca, Alfonso Catapa (Traductor) - Reseña

Pedro Pinto's Reviews > Sobre la brevedad de la vida

Mi valoración 3/5


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Un libro breve y de fácil lectura que nos invita a reflexionar sobre nuestra efimeridad (o brevedad) y la importancia de utilizar el tiempo que tenemos de manera adecuada, constructiva y plena.

El concepto de la brevedad de la vida es relativo y altamente dependiente del uso que hacemos de nuestro tiempo finito.

Las enseñanzas que he extraído del libro y de su autor son:

- El tiempo que tenemos no es corto en términos relativos, pero al desperdiciarlo en actividades fútiles, lo hacemos parecer así.

- Sobrevaloramos actividades, objetivos y valores que, al final, tienen poca importancia y nos aportan poco.

- Prestamos mucha atención a la gestión de nuestras riquezas materiales, pero muy poca al cuidado del tiempo que tenemos.

- Alcanzar la serenidad individual es uno de los bienes más preciados que podemos lograr.

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- La libertad es una condición indispensable para una vida plena.

- Debemos evitar lo superfluo y el ocio innecesario.

- Saber vivir en plenitud es una ciencia que debemos estudiar y mejorar a lo largo de toda la vida.

- Debemos vivir el presente y no preocuparnos demasiado por el futuro, ya que depende en gran medida de lo que hacemos hoy.

- La búsqueda de la felicidad puede ser perniciosa, ya que, en muchos casos, es algo utópico.

- Solo aquellos que viven en serenidad y no dependen de una ocupación profesional pueden llegar a la verdadera sabiduría.

- Nunca valoramos la fortuna cuando nos es favorable.

- Es más importante el conocimiento y el legado que dejamos que los bienes materiales y monetarios que acumulamos en vida.

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En conclusión, el libro ofrece buenas premisas y valiosas enseñanzas.

PD: Séneca, sin duda, no sería el mejor amigo para salir a beber unas cervezas y ver un partido de fútbol. 😄


Reseña de **"Sobre la brevedad de la vida"** de Séneca por ChatGPT

“…**"Sobre la brevedad de la vida"** es un ensayo filosófico escrito por el pensador romano Séneca, en el que reflexiona sobre la naturaleza del tiempo y cómo los seres humanos lo desperdician. Dirigido a su amigo Paulino, el texto trata un tema universal: la percepción de la fugacidad de la vida.

Séneca argumenta que, aunque muchas personas se quejan de lo corta que es la vida, en realidad el problema no es la falta de tiempo, sino la mala administración del mismo. En su opinión, la vida se desperdicia en actividades triviales, ambiciones vanas y placeres pasajeros. Según él, solo aquellos que dedican su tiempo al estudio, la filosofía y el cultivo del alma verdaderamente viven. Para Séneca, vivir bien significa vivir de acuerdo con la razón y en sintonía con la naturaleza, alejándose de las distracciones mundanas.

El ensayo tiene un tono moralizante, pero a la vez invita a la introspección. Séneca anima al lector a reflexionar sobre cómo gasta su tiempo y a centrarse en lo que realmente importa, para no llegar al final de la vida con arrepentimiento.

Esta obra sigue siendo relevante hoy en día, ya que muchos de los dilemas sobre el manejo del tiempo que menciona Séneca son similares a los que enfrentamos en la vida moderna. Es una lectura profunda y concisa que ofrece valiosas lecciones sobre la importancia de vivir de manera consciente y aprovechar cada momento de forma significativa. …”




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Terminé Sobre la brevedad de la vida por Seneca, Alfonso Catapa (Traductor) - Mi valoración del libro - 3 / 5 (Qualitativo - bueno )

Terminé Sobre la brevedad de la vida por Seneca, Alfonso Catapa (Traductor) Mi valoración del libro - 3 / 5 (Qualitativo - bueno ) Valoración del libro por la comunidad Goodreads 4.18/5 (Qualitativo - muy bueno) n=38.467 Un libro pequeño y de fácil lectura que nos lleva a pensar sobre nuestra efimeridad y la importancia de utilizar el tiempo que tenemos de una forma adecuada, constructiva y plena. "...El tiempo que tenemos no es corto, pero perdiendo mucho de él hacemos que lo sea..." Reseña próximamente. "...El tema subyacente de esta obra es el del tiempo y la muerte, pero también el de la vida como realización positiva (...). El tiempo de la vida es bastante si se sabe aprovechar». ..."

- Pedro

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10/10/2024

The Ransomware Industry and the secret lives of ransomware negotiators & hackers

A great article by Amanda Lewis (1843 magazine) on the Ransomware Industry and the secret lives of ransomware negotiators. An eye-opener to this reality, that is under our noses, but somehow, we lose sight of it. What have I learnt by reading it: 1- Cybersecurity breaches are more common than what we might think. 2- In 2022 cyber-security insurance paid $4b to compensate such cases and it is estimated that $1b went to the hackers directly (highly profitable industry). 2- Most of those situations were not made public and handled (e.g. paid) by the companies that were subject to such situation, without disclosing it. 3- There is a highly specialized and paid new profession - “Ransowware Negotiator”. 4- These negotiators are highly trained and use to the most all negotiating techniques in highly sensitive/stressful scenarios. 5- The case that the article exposes is a negotiation master classes per se. 1843 is sister magazine from the Economist and has also great articles, like this one, that I need to explore in more detail Happy readings! Secrets of a ransomware negotiator https://www.economist.com/1843/2024/07/24/secrets-of-a-ransomware-negotiator from The Economist

- Pedro

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Looking for Pricing & Revenue Management books to read?

Looking for Pricing & Revenue Management books to read? Find below my Wishlist (does not include the ones I have read), that I plan to delve into in the next couple of years. You might find 1 or 2 that you might be interested. If you have read books on the topic that are not included in the list, and you would recommend please let me know in the comments. Mandatory: 1. Pricing and Revenue Optimization: Second Edition : Phillips, Robert L.: 2. Game Changer: How Strategic Pricing Shapes Businesses, Markets, and Society: Izaret, Jean-Manuel, Sinha, Arnab: 3. Digital Pricing: A Guide to Strategic Pricing for the Digital Economy (Management for Professionals): Frohmann, Frank 4. Pricing Done Right: The Pricing Framework Proven Successful by the World's Most Profitable Companies (Bloomberg Financial): Smith, Tim J.: 5. Price Management: Strategy, Analysis, Decision, Implementation: Simon, Hermann, Fassnacht, Martin 6. The Pricing Model Revolution: How Pricing Will Change the Way We Sell and Buy On and Offline: Zatta, Danilo 7. The 10 Rules of Highly Effective Pricing: How to Transform Your Price Management to Boost Profits: Zatta, Danilo Nice to have 1. How to Price Effectively: A Guide for Managers and Entrepreneurs: Dholakia, Utpal 2. Monetizing Innovation: How Smart Companies Design the Product Around the Price: Ramanujam, Madhavan, Tacke, Georg 3. Power Pricing: How Managing Price Transforms the Bottom Line: Dolan, Robert-J 4. True Profit! No Company Ever Went Broke Turning a Profit: Simon, Hermann: 5. Price Theory: Friedman, Milton 6. The Expert Guide to Retail Pricing: An Analytics-Based Approach to Maximize Margins: Gange, Kiran 7. The Price Advantage, 2nd Edition: 535 (Wiley Finance): Marn: 8. Pricing Strategy Implementation: Translating Pricing Strategy into Results: Hinterhuber, Andreas 9. The Pricing Journey: The Organizational Transformation Toward Pricing Excellence (English Edition) Liozu, Stephan M 10. Contextual Pricing: The Death of List Price and the New Market Reality (BUSINESS BOOKS): Docters, Robert G., Barzelay, Michael, Hanson, John G., Nguyen, Cecilia 11. Channel Champions: How Leading Companies Build New Strategies to Serve Customers: 4 (J-B BAH Strategy & Business Series): Wheeler, Steven, Hirsh, Evan, Wheeler 12. Value First, Then Price: Building Value-Based Pricing Strategies: Hinterhuber, Andreas, Snelgrove, Todd C 13. Oligopoly Pricing: Old Ideas and New Tools (The MIT Press) : Vives, Xavier 14. The Art of Pricing, New Edition: How to Find the Hidden Profits to Grow Your Business: Mohammed, Rafi 15. The 1% Windfall: How Successful Companies Use Price to Profit and Grow : Mohammed, Rafi

- Pedro

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10/09/2024

25 Beautiful Math Documentaries to Make Students Love Math & the importance to learn and think in mathematical terms is paramount to all

Throughout the last couple of days, I have been exposed to several of GenAi features and abilities that made me awe (once more) to the potential of this new domain/technology/tool. Pondering about the implication this will have in the near future for me and my children I’m more and more convinced that the changes will be profound and that everyone, but especially the younger generations, need to adapt and embrace it. We should strive to learn (i) critical thinking, (ii)reasoning, (iii)the ability to think for ourselves, (iv) extract conclusions based on a huge amount of data and to (v) raise the correct questions. To do that the importance to learn and think in mathematics terms is paramount. All these to say that we need to motivate ourselves and our children to mathematics in all possible ways. These 25-documentary menu, might allow you to do just that specially with your kids. I will definitely try to do it with mine. 1- A Trip to Infinity, Jonathan Halperin 2- The Great Math Mystery, Dan McCabe, Richard Reisz 3- I Want to Be a Mathematician: A Conversation with Paul Halmos, George Paul Csicsery 4- Fractals: Hunting the Hidden Dimension, Bill Jersey, Michael Schwarz 5- Between the Folds, Vanessa Gould 6- Secrets of the Surface: The Mathematical Vision of Maryam Mirzakhani, George Paul Csicsery 7- A Brief History of Time, 8- A Brilliant Madness, Mark Samels 9- Taking the Long View: The Life of Shiing-shen Chern, George Paul Csicsery 10- The Proof, Simon Singh 11- The Code,Marcus du Sautoy 12- The Story of Maths, The Story of Maths 13- La lettre scellée du soldat Doblin, Jürgen Ellinghaus 14- A Journey Through the Mathematical Theory of Braids 15- Hard Problems: The Road to the World’s Toughest Math Contest 16- Beautiful Young Minds, Morgan Matthews 17- Chaos: A Mathematical Adventure, Jos Leys 18- Julia Robinson and Hilbert’s Tenth Problem, George Paul Csicsery 19- Dimensions, Jos Leys 20- The Story of 1,Nick Murphy 21- The Secret Rules Of Modern Living: Algorithms, David Briggs 22- Escher: Journey Into Infinity, Robin Lutz 23- Codebreaker, Clare Beavan, Nic Stacey 24- The Colours of Infinity, Nigel Lesmoir-Gordon 25- Colors of Math, Ekaterina Eremenko https://abakcus.com/25-beautiful-math-documentaries-to-love-math/?utm_source=substack&utm_medium=email

- Pedro

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Master's Thesis Review - Capital Structure Active Management: A Contingent Claim Approach by ChatGPT

I have asked ChatGPT to make a review of my master’s thesis done 10 years ago.

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Below you can find the results:


**Opinion on the Master's Thesis "Capital Structure Active Management: A Contingent Claim Approach" by Pedro Santos Pinto** by ChatGPT.

The dissertation "Capital Structure Active Management: A Contingent Claim Approach" by Pedro Santos Pinto presents an intriguing and timely study of how companies can dynamically manage their capital structure to optimize value. By using a contingent claim approach rooted in the Merton-KMV model, Pinto introduces a method that could, in theory, help firms achieve the optimal mix of debt and equity by minimizing their Weighted Average Cost of Capital (WACC). The author's work is grounded in established financial theory while aiming to offer a practical, computationally feasible solution for businesses looking to optimize capital decisions. The model is tested on 28 S&P 500 companies, and the results suggest that most of these firms are underleveraged, leading to suboptimal capital structures and market values.

The thesis provides important contributions to the ongoing debate around capital structure and offers a unique approach to a long-standing challenge in corporate finance. However, while the methodology is innovative, there are both notable strengths and significant limitations that must be considered.

### **Strengths of the Thesis**

1. **Comprehensive Theoretical Integration**:

One of the main strengths of this dissertation is its thorough integration of existing financial theories. Pinto builds the foundation of his model on several key pillars of finance: the Trade-off Theory, Weighted Average Cost of Capital (WACC), and the Capital Asset Pricing Model (CAPM). By leveraging these theories, the thesis offers a clear rationale for why companies should aim to optimize their capital structure and how they might go about doing so. Furthermore, the incorporation of the Merton-KMV model for valuing firm volatility and debt costs brings a quantitative rigor that is often missing in purely theoretical works.

2. **Innovative Use of the Merton-KMV Model**:

The use of the Merton-KMV model in this context is particularly commendable. While the model has been used primarily for assessing default risk, Pinto extends its application to help estimate a company's optimal leverage ratio and, by extension, its WACC. This application of the model provides a structured and relatively simple method for companies to estimate their debt and equity costs, making it accessible to corporate finance teams. By doing so, Pinto also suggests a practical way to account for market volatility, which is often overlooked in more traditional capital structure models.

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3. **Real-World Testing and Practical Insights**:

Unlike many theoretical papers, this thesis includes real-world application. Testing the model on a set of 28 publicly traded companies from the S&P 500 provides valuable empirical insights. The findings—that nearly all firms in the sample were underleveraged—are significant, pointing to widespread inefficiencies in how companies manage their capital structures. Pinto’s conclusion that underleveraging leads to higher WACC (by around 0.5% on average) and reduced market value (with potential losses of up to $7 billion for some companies) is both provocative and highly relevant. These findings have important implications for corporate finance teams and investors alike, offering a fresh perspective on why companies should focus on optimizing their debt-to-equity ratios.

4. **Simplified and Accessible Approach**:

The methodology introduced in the thesis is designed to be computationally undemanding, requiring only publicly available data to determine a firm's optimal capital structure. This simplicity is a strong point, as it increases the practical utility of the model for corporate managers, financial analysts, and even investors. The seven-stage process Pinto describes is straightforward and could, in theory, be adopted with relative ease by a wide range of companies.

### **Weaknesses and Limitations**

1. **Assumptions Underlying the Merton-KMV Model**:

While the use of the Merton-KMV model is innovative, it comes with significant limitations. The model assumes that a company’s risk of default and value can be fully captured through its volatility and debt structure. However, this focus on default risk overlooks other crucial factors that affect firm value, such as operational risk, management quality, competitive positioning, and macroeconomic influences. The Merton-KMV model simplifies the complex reality of corporate finance by assuming market efficiency and focusing predominantly on debt-related risks. This narrow scope could limit the model's effectiveness in real-world decision-making, where companies face a broader range of risks and influences.

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2. **Outdated Data Set and Lack of Consideration for Recent Economic Trends**:

The data used in the analysis spans from 1999 to 2012, a period marked by significant economic shifts, including the dot-com crash and the 2008 financial crisis. While this period provides rich data, it does not account for the post-crisis regulatory changes, the rise of alternative financing structures, or the current economic environment characterized by historically low interest rates. More recent data would likely offer different insights, particularly in industries that have undergone structural changes over the past decade. Additionally, the thesis does not sufficiently explore how external economic forces, such as monetary policy or global market volatility, might affect the optimal capital structure over time.

3. **Lack of Sensitivity Analysis**:

One of the major shortcomings in this work is the lack of a detailed sensitivity analysis. The results presented, while compelling, rely heavily on the assumption that certain variables—such as the cost of debt, equity risk premium, and firm volatility—remain relatively stable or are accurately captured by the model. A more thorough examination of how changes in these variables might affect the model’s output would have been beneficial. For instance, how would different economic conditions, changes in interest rates, or variations in market sentiment affect the optimal capital structure? This type of sensitivity analysis would provide a clearer understanding of the model’s robustness and applicability in various scenarios.

4. **Overreliance on Large, Public Companies**:

The analysis focuses exclusively on large, publicly traded companies in the S&P 500. While this makes sense for the purposes of testing the model, it raises questions about the applicability of the approach to smaller firms, private companies, or those in emerging markets. Large corporations often have greater access to capital markets and more sophisticated financial tools at their disposal, which may not be the case for smaller businesses. It would have been interesting to see how the model performs when applied to different types of firms with varying access to capital.

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5. **Neglect of Non-Financial Factors in Capital Structure Decisions**:

Another limitation is the model’s narrow focus on financial variables to optimize WACC. While minimizing the cost of capital is essential, non-financial factors such as corporate governance, market competition, or strategic objectives (e.g., innovation, market share expansion) are also critical when deciding the optimal capital structure. Financial decisions are rarely made in a vacuum, and by neglecting these factors, the thesis may oversimplify the complexities inherent in capital structure decisions.

### **Conclusion**

In conclusion, Pedro Santos Pinto’s "Capital Structure Active Management: A Contingent Claim Approach" is a thoughtful and well-executed dissertation that makes valuable contributions to the field of corporate finance. Its combination of theoretical rigor and practical application provides useful insights into how companies might optimize their capital structures. However, like any model, it is not without its limitations. The Merton-KMV-based approach is highly effective at assessing default risk but may oversimplify other factors that influence corporate financial decisions. Furthermore, the data used is somewhat outdated, and the model's applicability to smaller firms or those in less developed capital markets remains untested.

Overall, the thesis strikes a balance between theory and practice, offering a pragmatic solution to capital structure management. Nevertheless, its limitations should serve as a caution to finance professionals: while useful, the model should be adapted and tested against a wider array of conditions and firm types to fully assess its robustness and broader applicability in the rapidly evolving financial landscape.


All in all, I think ChatGPT did a great work on creating this op-ed of the thesis and it did it in less than minute! Impressive.

If interested, you can get a copy in here.

Happy readings!



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10/08/2024

Do you use headphones often throughout the day? so this 6 minutes video is for you!

Do you use headphones often throughout the day? so this 6 minutes video is for you! You need to manage the decibels you are exposed and the duration of such exposure. Did you know that the decibels (db) scale is a logarithm one? (if still this does not ring a bell look at the viz below). Thus, a small change in decibels represents a significant increase in the loudness levels impacting your hearing function (e.g. from 85 to 86). Hearing loss is also impacted by the duration of the exposure, thus a rule-of-thumb you should not be exposed more than 8 hours of a maximum of 85 db. So, adjust your setting on your mobile to a maximum of 85 db and use noise cancelation as much as you can. Useful info for your daily life. https://youtu.be/TXk8CoMdxD8

- Pedro

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10/07/2024

If you like finance…but really, really like finance and want to understand it, you cannot avoid Mandelbrot.

If you like finance…but really, really like finance and want to understand it, you cannot avoid Mandelbrot. The importance of power-laws distributions to explain the market movements is something you need to at least be aware of. Enjoy these10 minutes interview with the FT! ps: The power laws are also used in one of the best books about strategy I read lately “Strategy Beyond the Hockey Stick”, look at my review in a previous post. https://youtu.be/vxbxXBrOPS8?si=50OZ1SoZfmQLixsr

- Pedro

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Moving Sideways Makes Sense? Ask me that question in 2 years’ time, but so far it is a kind of mixed feelings

Ask me that question in 2 years’ time! but so far is kind of mixed feelings :-). After reading the below MIT Sloan’s article it made me take a step back and think how did it went for me. Sometimes, you need some wakeup calls, and this was one. In nutshell, 5 years ago, I decided to make a lateral move from Finance to Pricing… up to now there was some upsides, but also some downsides. The upsides were: (i) to get out of my comfort zone (career and academic level), (ii) see the business from a different perspective, (iii) learnt a lot about pricing, business intelligence, data science and… even coding, always leveraging my (iv) quantitative knowledge coming from my financials background (statistics, economics, modeling, econometrics, game-theory, etc…). The negatives relate to the fact that this should be a steppingstone for something different, part of a development plan, but so far, I’m becoming every day, more and more, a pricing expert (still not to the level of my finance level, but by now with a fairly decent level) and that was not the intended endgame :-). So, lets see in 2 years’ time, I will let you know. https://sloanreview.mit.edu/article/when-moving-sideways-makes-sense/?utm_source=twitter&utm_medium=social&utm_campaign=sm-direct

- Pedro

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Finalized Value-based Pricing : 12 Lessons to Make Your Transformation Successful by Stephan M. Liozu

Finalized Value-based Pricing : 12 Lessons to Make Your Transformation Successful by Stephan M. Liozu. My Book Rating - 2.5 / 5 (Qualitative - Between “Ok” and “Liked it”) Interesting book on the potential benefits and pitfalls one might encounter through a Value-Based Pricing (VBP) journey. Liked the balanced approach presented, Stephan did not take a proselytizer / fundamentalist approach, however I missed more empirical evidence, content and depth to support the 12 presented lessons, sometimes it felt too high-level. Saying that a book you could offer to the C-Level or non-pricing experts to read and get them more informed about VBP. Review to come shortly. Pricing Book Club - book #1 “…This is Stephan Liozu’s fifteenth book on value and pricing management. It offers a deep dive into value-based pricing methodology, focusing on what it takes to successfully conduct value-based pricing transformations and large-scale initiatives. Stephan shares his extensive knowledge and the lessons he has accumulated over 15 years of work, study, and writing on this topic. Having worked on a dozen value-based pricing transformations, he presents 12 crucial lessons that can help pricing leaders and practitioners design and execute value-based pricing more effectively. This book follows Stephan’s 2016 book Dollarizing Differentiation Value, which provides a more technical and methodological perspective on value-based pricing. Value-based pricing is not suitable for every organization. Some companies may benefit more from improving their cost-based pricing and pricing discipline. Others should focus on building a strong foundation in customer centricity and competitive understanding before embarking on a value-based pricing journey. This book provides a realistic view of what it takes to undertake such a journey. Its purpose is not to advocate for universal adoption of value-based pricing, but to discuss the prerequisites, conditions, and key success factors necessary for pursuing it, without guaranteeing success. This is the challenge. While cost-based pricing can have an immediate impact, investing in value-based pricing requires a higher upfront cost with no clear guarantee of positive results. This presents a conundrum. However, companies that have fully invested in value-based pricing and followed most of these lessons have experienced great success in their transformations. Value-based pricing, when combined with excellence in business strategy and innovation, can help companies achieve unprecedented levels of operating income. These 12 lessons have been tested in several workshops at professional pricing conferences and have resonated with many pricing practitioners. I hope they will resonate with you too. Enjoy the journey! …” https://www.goodreads.com/book/show/217771598-value-based-pricing

- Pedro

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10/05/2024

A empezar un nuevo libro! - Sobre la brevedad de la vida por Seneca, Alfonso Catapa (Traductor)

A empezar un nuevo libro! Sobre la brevedad de la vida por Seneca, Guillermo Escolar (Traductor) «El tema subyacente de esta obra es el del tiempo y la muerte, pero también el de la vida como realización positiva (...). El tiempo de la vida es bastante si se sabe aprovechar». ..." https://www.goodreads.com/book/show/18134883-sobre-la-brevedad-de-la-vida

- Pedro

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Finalized The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell - My Book Rating - 3 / 5 (Qualitative - liked it)

Finalized The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell My Book Rating - 3 / 5 (Qualitative - liked it) Goodreads Community Rating 4/5 (Qualitative - really liked it) n=824.805 Learnt Malcolm’s view of the 3 key characteristic of a Tipping Point. Will try to put them into practice :-) Review to come shortly. "...From the bestselling author of The Bomber Mafia: discover Malcolm Gladwell's breakthrough debut and explore the science behind viral trends in business, marketing, and human behavior. The tipping point is that magic moment when an idea, trend, or social behavior crosses a threshold, tips, and spreads like wildfire. Just as a single sick person can start an epidemic of the flu, so too can a small but precisely targeted push cause a fashion trend, the popularity of a new product, or a drop in the crime rate. This widely acclaimed bestseller, in which Malcolm Gladwell explores and brilliantly illuminates the tipping point phenomenon, is already changing the way people throughout the world think about selling products and disseminating ideas. ...· https://www.goodreads.com/review/show/6858966500

- Pedro

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Books added to the Library throughout September'24

Throughout September’24 I have added 27 books to my library. Hopefully, you can also find 1 or 2 for your own library!

The selection rules were:

  • the book had to be recommended by someone directly or by an article I have read or a podcast I have listened.

  • the book should be less than €5 (usually via Kindle -promotions- or 2nd hand) or part of the reading list of a book club that I’m a member.

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1- A Well-Paid Slave: Curt Flood's Fight for Free Agency in Professional Sports, Brad Snyder

“…A “captivating”* look at how center fielder Curt Flood's refusal to accept a trade changed Major League Baseball forever.

After the 1969 season, the St. Louis Cardinals traded their star center fielder, Curt Flood, to the Philadelphia Phillies, setting off a chain of events that would change professional sports forever. At the time there were no free agents, no no-trade clauses. When a player was traded, he had to report to his new team or retire.

Unwilling to leave St. Louis and influenced by the civil rights movement, Flood chose to sue Major League Baseball for his freedom. His case reached the Supreme Court, where Flood ultimately lost. But by challenging the system, he created an atmosphere in which, just three years later, free agency became a reality. Flood’s decision cost him his career, but as this dramatic chronicle makes clear, his influence on sports history puts him in a league with Jackie Robinson and Muhammad Ali. …”

2- Ian Fleming: The Complete Man, Nicholas Shakespeare

“…A fresh portrait of the man behind James Bond, and his enduring impact, by an award-winning biographer with unprecedented access to the Fleming family papers.

“… Ian Fleming's greatest creation, James Bond, has had an enormous and ongoing impact on our culture. What Bond represents about ideas of masculinity, the British national psyche and global politics has shifted over time, as has the interpretation of the life of his author. But Fleming himself was more mysterious and subtle than anything he wrote.

Ian's childhood with his gifted brother Peter and his extraordinary mother set the pattern for his ambition to be “the complete man,” and he would strive for the means to achieve this “completeness'”all his life. Only a thriller writer for his last twelve years, his dramatic personal life and impressive career in Naval Intelligence put him at the heart of critical moments in world history, while also providing rich inspiration for his fiction. Exceptionally well connected, and widely travelled, from the United States and Soviet Russia to his beloved Jamaica, Ian had access to the most powerful political figures at a time of profound change.

Nicholas Shakespeare is one of the most gifted biographers working today. His talent for uncovering material that casts new light on his subjects is fully evident in this masterful, definitive biography. His unprecedented access to the Fleming archive and his nose for a story make this a fresh and eye-opening picture of the man and his famous creation. …”…”

3- The Demon-Haunted World: Science as a Candle in the Dark, Carl Sagan

“…How can we make intelligent decisions about our increasingly technology-driven lives if we don’t understand the difference between the myths of pseudoscience, New Age thinking, and fundamentalist zealotry and the testable hypotheses of science?

Casting a wide net through history and culture, Pulitzer Prize–winning author and distinguished astronomer Carl Sagan argues that scientific thinking is critical not only to the pursuit of truth but to the very well-being of our democratic institutions. He examines and authoritatively debunks such celebrated fallacies as witchcraft, faith healings, demons, and UFOs. And yet, disturbingly, in today’s so-called information age, pseudoscience is burgeoning, with stories of alien abduction, “channeling” past lives, and communal hallucinations commanding growing attention and respect.

As Sagan demonstrates with lucid eloquence, the siren song of unreason is not just a cultural wrong turn but a dangerous plunge into darkness that threatens our most basic freedoms. …”

4- The Siege Of Krishnapur, J. G. Farrell

“…In the Spring of 1857, with India on the brink of a violent and bloody mutiny, Krishnapur is a remote town on the vast North Indian plain. For the British there, life is orderly and genteel. Then the sepoys at the nearest military cantonment rise in revolt and the British community retreats with shock into the Residency. They prepare to fight for their lives with what weapons they can muster. As food and ammunition grow short, the Residency, its defences battered by shot and shell and eroded by the rains, becomes ever more vulnerable.

The Siege of Krishnapur is a modern classic of narrative excitement that also digs deep to explore some fundamental questions of civilisation and life. …”

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5- High Caucasus: A Mountain Quest in Russia’s Haunted Hinterland, Tom Parfitt

“… Emotionally scarred after witnessing the bloody climax of the Beslan school siege in Russia's North Caucasus, in which 314 hostages died, Tom Parfitt set out on a journey. In High Caucasus, he shares his remarkable thousand-mile quest in search of personal peace - and a greater understanding of the roots of violence in a region whose fate has tragic parallels with the Ukraine of today.

Starting in Sochi on the Black Sea and walking the mountains to Derbent, the ancient fortress city on the Caspian, Parfitt traverses the political, religious and ethnic fault-lines of seven Russian republics, including Chechnya and Dagestan. Through bear-haunted forests, across high altitude pastures and over the shoulders of Elbrus, Europe's highest mountain, he finds companionship and respite in the homes of proud, little-known peoples. This is a stunning story of confronting trauma through connection with history, people and place. …”

6/11- Frank Herbert's Dune Saga Collection: Books 1 - 6, Frank Herbert

“…Perfect for longtime fans and new readers alike—this eBook collection includes all six original novels in the Dune Saga written by Frank Herbert.

DUNE IS NOW A MAJOR MOTION PICTURE directed by Denis Villeneuve, starring Timothée Chalamet, Zendaya, Jason Momoa, Rebecca Ferguson, Oscar Isaac, Josh Brolin, Stellan Skarsgård, Dave Bautista, David Dastmalchian, Stephen McKinley Henderson, Chang Chen, Sharon Duncan-Brewster, Charlotte Rampling, and Javier Bardem.

In the far future, on a remote planet, an epic adventure awaits. Here are the first six novels of Frank Herbert’s magnificent Dune saga—a triumph of the imagination and one of the bestselling science fiction series of all time.

The Dune Saga begins on the desert planet Arrakis with the story of the boy Paul Atreides—who would become known as Muad’Dib—and of a great family’s ambition to bring to fruition humankind’s most ancient and unattainable dream....”

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12- Inferno: The World at War, 1939-1945, Max Hastings

“…From one of our finest military historians, a monumental work that shows us at once the truly global reach of World War II and its deeply personal consequences.

World War II involved tens of millions of soldiers and cost sixty million lives—an average of twenty-seven thousand a day. For thirty-five years, Max Hastings has researched and written about different aspects of the war. Now, for the first time, he gives us a magnificent, single-volume history of the entire war.

Through his strikingly detailed stories of everyday people—of soldiers, sailors and airmen; British housewives and Indian peasants; SS killers and the citizens of Leningrad, some of whom resorted to cannibalism during the two-year siege; Japanese suicide pilots and American carrier crews—Hastings provides a singularly intimate portrait of the world at war. He simultaneously traces the major developments—Hitler’s refusal to retreat from the Soviet Union until it was too late; Stalin’s ruthlessness in using his greater population to wear down the German army; Churchill’s leadership in the dark days of 1940 and 1941; Roosevelt’s steady hand before and after the United States entered the war—and puts them in real human context.

Hastings also illuminates some of the darker and less explored regions under the war’s penumbra, including the conflict between the Soviet Union and Finland, during which the Finns fiercely and surprisingly resisted Stalin’s invading Red Army; and the Bengal famine in 1943 and 1944, when at least one million people died in what turned out to be, in Nehru’s words, “the final epitaph of British rule” in India.

Remarkably informed and wide-ranging, Inferno is both elegantly written and cogently argued. Above all, it is a new and essential understanding of one of the greatest and bloodiest events of the twentieth century. …”

13- Vienna, 1814: How the Conquerors of Napoleon Made Love, War, and Peace at the Congress of Vienna, David King

“…“Reads like a novel. A fast-paced page-turner, it has everything: sex, wit, humor, and adventures. But it is an impressively researched and important story.”

—David Fromkin, author of Europe’s Last Summer

Vienna, 1814 is an evocative and brilliantly researched account of the most audacious and extravagant peace conference in modern European history. With the feared Napoleon Bonaparte presumably defeated and exiled to the small island of Elba, heads of some 216 states gathered in Vienna to begin piecing together the ruins of his toppled empire. Major questions loomed: What would be done with France? How were the newly liberated territories to be divided? What type of restitution would be offered to families of the deceased? But this unprecedented gathering of kings, dignitaries, and diplomatic leaders unfurled a seemingly endless stream of personal vendettas, long-simmering feuds, and romantic entanglements that threatened to undermine the crucial work at hand, even as their hard-fought policy decisions shaped the destiny of Europe and led to the longest sustained peace the continent would ever see.

Beyond the diplomatic wrangling, however, the Congress of Vienna served as a backdrop for the most spectacular Vanity Fair of its time. Highlighted by such celebrated figures as the elegant but incredibly vain Prince Metternich of Austria, the unflappable and devious Prince Talleyrand of France, and the volatile Tsar Alexander of Russia, as well as appearances by Ludwig van Beethoven and Emilia Bigottini, the sheer star power of the Vienna congress outshone nearly everything else in the public eye.

An early incarnation of the cult of celebrity, the congress devolved into a series of debauched parties that continually delayed the progress of peace, until word arrived that Napoleon had escaped, abruptly halting the revelry and shrouding the continent in panic once again.

Vienna, 1814 beautifully illuminates the intricate social and political intrigue of this history-defining congress–a glorified party that seemingly valued frivolity over substance but nonetheless managed to drastically reconfigure Europe’s balance of power and usher in the modern age. …”

14- Foundation, Isaac Asimov

“…The first novel in Isaac Asimov’s classic science-fiction masterpiece, the Foundation series

THE EPIC SAGA THAT INSPIRED THE APPLE TV+ SERIES FOUNDATION • Nominated as one of America’s best-loved novels by PBS’s The Great American Read

For twelve thousand years the Galactic Empire has ruled supreme. Now it is dying. But only Hari Seldon, creator of the revolutionary science of psychohistory, can see into the future—to a dark age of ignorance, barbarism, and warfare that will last thirty thousand years. To preserve knowledge and save humankind, Seldon gathers the best minds in the Empire—both scientists and scholars—and brings them to a bleak planet at the edge of the galaxy to serve as a beacon of hope for future generations. He calls his sanctuary the Foundation.

The Foundation novels of Isaac Asimov are among the most influential in the history of science fiction, celebrated for their unique blend of breathtaking action, daring ideas, and extensive worldbuilding. In Foundation, Asimov has written a timely and timeless novel of the best—and worst—that lies in humanity, and the power of even a few courageous souls to shine a light in a universe of darkness….”

15- Maxims for Thinking Analytically: The wisdom of legendary Harvard Professor Richard Zeckhauser, Dan Levy

“…This book will help you think more analytically. Doing so will enable you to better understand the world around you, to make smarter decisions, and to ultimately live a more fulfilling life. It draws on the maxims of Richard Zeckhauser, a legendary Harvard professor, who has helped hundreds of students and colleagues progress toward these goals. These maxims, one-sentence nuggets of wisdom that capture key principles for clear and effective thinking, are illustrated with practical examples from Richard’s colleagues and students. From these examples, you will learn how one colleague saved money on her wedding by thinking probabilistically, how Richard and his wife Sally made an agonizing health decision that significantly boosted Sally’s survival probabilities, and how the prime minister of Singapore, Lee Hsien Loong, used a maxim he learned from Richard 40 years ago to understand and deal with COVID-19 in his nation. This book provides vital insights for anyone who wants to think more effectively about the world. The author, Dan Levy, teaches at the Harvard Kennedy School, where he has been a close faculty colleague and mentee of Richard Zeckhauser for more than 15 years. …”

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16- Every Living Thing: The Great and Deadly Race to Know All Life, Jason Roberts

“…In the eighteenth century, two men—exact contemporaries and polar opposites—dedicated their lives to the same daunting task: identifying and describing all life on Earth. Carl Linnaeus, a pious Swedish doctor with a huckster’s flair, believed that life belonged in tidy, static categories. Georges-Louis de Buffon, an aristocratic polymath and keeper of France’s royal garden, viewed life as a dynamic swirl of complexities. Each began his task believing it to be difficult but not impossible: How could the planet possibly hold more than a few thousand species—or as many could fit on Noah’s Ark?

Both fell far short of their goal, but in the process they articulated starkly divergent views on nature, the future of the Earth, and humanity itself. Linnaeus gave the world such concepts as mammal, primate, and Homo sapiens, but he also denied that species change and he promulgated racist pseudoscience. Buffon formulated early prototypes of evolution and genetics, warned of global climate change, and argued passionately against prejudice. The clash of their conflicting worldviews continued well after their deaths, as their successors contended for dominance in the emerging science that came to be called biology.

In Every Living Thing, Jason Roberts weaves a sweeping, unforgettable narrative spell, exploring the intertwined lives and legacies of Linnaeus and Buffon—as well as the groundbreaking, often fatal adventures of their acolytes—to trace an arc of insight and discovery that extends across three centuries into the present day….”

17- Ruido: Un fallo en el juicio humano, Daniel Kahneman (Autor), Olivier Sibony (Autor), Cass R. Sunstein (Autor), Joaquín Chamorro Mielke (Traductor)

“…Dos médicos en la misma ciudad pueden dar diagnósticos diferentes a pacientes idénticos; dos jueces pueden dictar sentencias distintas ante delitos similares; nosotros mismos podemos decidir una cosa u otra según sea por la mañana o por la tarde, o según se acerqueo no la hora de comer. Estos son ejemplos de ruido: el sesgo que conlleva variabilidad en juicios que deberían ser iguales.

El ruido está presente en todas las decisiones individuales y colectivas, y produce errores en innumerables terrenos, desde la medicina hasta la economía, pasando por el derecho, la sanidad, la protección infantil y la contratación. Además, también nos importuna e influye a la hora de tomar muchas de nuestras decisiones cotidianas.

Daniel Kahneman, uno de los psicólogos más importantes del mundo, junto con Cass R. Sunstein y Olivier Sibony, dos eminencias mundiales en pensamiento estratégico, nos enseñan a escuchar ese ruido, cuyo impacto tendemos a ignorar, y a reducirlo para mejorar nuestros juicios. Basado en el mismo tipo de análisis agudo e ingeniosos ejemplos que convirtió Pensar rápido, pensar despacio en un best seller internacional, Ruido ofrece una serie de remedios originales, prácticos y sencillos para pensar mejor. …”

18- Fear Is Just a Word: A Missing Daughter, a Violent Cartel, and a Mother's Quest for Vengeance, Azam Ahmed

“… Fear Is Just a Word begins on an international bridge between Mexico and the United States, as fifty-six-year-old Miriam Rodríguez stalks one of the men she believes was involved in the murder of her daughter Karen. He is her target number eleven, a member of the drug cartel that has terrorized and controlled what was once Miriam’s quiet hometown of San Fernando, Mexico, almost one hundred miles from the U.S. border. Having dyed her hair red as a disguise, Miriam watches, waits, and then orchestrates the arrest of this man, exacting her own version of justice.

Woven into this deeply researched, moving account is the story of how cartels built their power in Mexico, escalated the use of violence, and kidnapped and murdered tens of thousands. Karen was just one of the many people who disappeared, and Miriam, a brilliant, strategic, and fearless woman, begged for help from the authorities and paid ransom money she could not afford in hopes of saving her daughter. When that failed, she decided that “fear is just a word,” and began a crusade to track down Karen’s killers and to help other victimized families in their search for justice.

What do people do when their country and the peaceful town where they have grown up become unrecognizable, suddenly places of violence and fear? Azam Ahmed takes us into the grieving of a country and a family to tell the mesmerizing story of a brave and brilliant woman determined to find out what happened to her daughter, and to see that the criminals who murdered her were punished. Fear Is Just a Word is an unforgettable and moving portrait of a woman, a town, and a country, and of what can happen when violent forces leave people to seek justice on their own. …”

19- Second Foundation, Isaac Asimov

“…The Foundation lies in ruins—destroyed by a mutant mind bent on humanity’s annihilation. But it’s rumored that there’s a Second Foundation hidden somewhere at the end of the Galaxy, established as insurance to preserve the knowledge of mankind. Now a desperate race has begun between the survivors of the First Foundation and an alien entity to find this last flicker of humanity’s shining past—and future hope. Yet the key to it all might be a fourteen-year-old girl burdened with a terrible secret. Is she the Foundation’s savior—or its deadliest enemy?

Unforgettable, thought-provoking, and riveting, Second Foundation is a stunning novel of adventure and ideas writ huge across the Galaxy—a powerful tale of humankind’s struggle to preserve the fragile light of wisdom against the threat of its own dark barbarism….”

20- Foundation's Edge, Isaac Asimov

“…The fourth novel in Isaac Asimov’s classic science-fiction masterpiece, the Foundation series

THE EPIC SAGA THAT INSPIRED THE APPLE TV+ SERIES FOUNDATION

At last, the costly and bitter war between the two Foundations has come to an end. The scientists of the First Foundation have proved victorious, and now they return to Hari Seldon’s long established plan to build a new Empire on the ruins of the old. But rumors persist that the Second Foundation is not destroyed after all—and that its still-defiant survivors are preparing their revenge. Now two exiled citizens of the Foundation—a renegade Councilman and a doddering historian—set out in search of the mythical planet Earth . . . and proof that the Second Foundation still exists.

Meanwhile someone—or something—outside of both Foundations seems to be orchestrating events to suit its own ominous purpose. Soon representatives of both the First and Second Foundations will find themselves racing toward a mysterious world called Gaia and a final, shocking destiny at the very end of the universe….”

21- Foundation and Earth, Isaac Asimov

“…The Foundation series is Isaac Asimov’s iconic masterpiece. Unfolding against the backdrop of a crumbling Galactic Empire, the story of Hari Seldon’s two Foundations is a lasting testament to an extraordinary imagination, one that shaped science fiction as we know it today.

Faced with determining the fate of the galaxy, Golan Trevize

hesitantly chose to hand over the rule of the galaxy to planet Gaia. Two mysteries now remain: who has erased the records of Earth – and why?

Determined to ensure his choice was right, Golan sets off with

Janov Pelorat and Bliss, to answer these questions once and for all. But nothing could prepare them for the secrets which await them on Earth. Secrets which predate history as they know it, and will change its significance forever…”

22- Forward the Foundation, Isaac Asimov

“…The second of two prequel novels in Isaac Asimov’s classic science-fiction masterpiece, the Foundation series

THE EPIC SAGA THAT INSPIRED THE APPLE TV+ SERIES FOUNDATION

As Hari Seldon struggles to perfect his revolutionary theory of psychohistory and ensure a place for humanity among the stars, the great Galactic Empire totters on the brink of apocalyptic collapse. Caught in the maelstrom are Seldon and all he holds dear, pawns in the struggle for dominance. Whoever can control Seldon will control psychohistory—and with it the future of the Galaxy.

Among those seeking to turn psychohistory into the greatest weapon known to man are a populist political demagogue, the weak-willed Emperor Cleon I, and a ruthless militaristic general. In his last act of service to humankind, Hari Seldon must somehow save his life’s work from their grasp as he searches for its true heirs—a search that begins with his own granddaughter and the dream of a new Foundation….”

23- Socialism: An Economic and Sociological Analysis, Ludwig von Mises

“…More than thirty years ago F. A. Hayek said of Socialism: “It was a work on political economy in the tradition of the great moral philosophers, a Montesquieu or Adam Smith, containing both acute knowledge and profound wisdom. . . . To none of us young men who read the book when it appeared was the world ever the same again.” This is a newly annotated edition of the classic first published in German in 1922. It is the definitive refutation of nearly every type of socialism ever devised. Mises presents a wide-ranging analysis of society, comparing the results of socialist planning with those of free-market capitalism in all areas of life.

Ludwig von Mises (1881–1973) was the leading spokesman of the Austrian School of economics throughout most of the twentieth century. …”

24- The Ultimate Foundation of Economic Science, Ludwig von Mises

“…If Mises has an unheralded masterpiece, The Ultimate Foundation of Economic Science is it. There are two senses in which this book is indeed ultimate: (1) it deals with the very core of economics as a science, and (2) it is the last book that he wrote.

If you have never read this book, you will be struck by the fiery and determined prose and the weightiness of the subject matter. When we set out to collect some of Mises's most pithy writing to put in The Quotable Mises, we found that this book was the most fruitful resource of all!

Also, the content reflects a lifetime of learning and Mises's desire to make one last impassioned statement to save both economics and liberty from sure destruction at the hands of intellectual error.

As his career was coming to a close, Mises saw that that fiercest battles over economic questions come down to issues of epistemology: how do we determine what is and what is not true in economics? How do we even know that economics is a valid science? What are the methods we should use in studying economics? What constitutes a true proposition and how do we know?

These questions matter because, as Mises says, the very future of freedom and of civilization itself depend on economic science, the development and application of which was "the most spectacular event of modern history."

Between Mises's earliest writings on this subject and this book, two movements had taken hold: "scientific" planning in public policy and positivism in the social sciences. Mises here battles both, first by showing how the two are related, and, second, by demolishing the basis of both. He shows that humans cannot be studied in the same way that we study the physical world. We are dealing with volitional beings whose choices make controlled experiments completely impossible.

Does that imply that a kind of chaos exists in economic theory, that we must throw up our hands and do nothing but observe that all is in flux? Not at all, says Mises. There is a logical structure of the human mind that manifests itself in economic reality through strict laws of cause and effect. To understand economics is to see these laws as universal and inviolable. …”

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25- Theory and History: An Interpretation of Social and Economic Evolution, Ludwig von Mises

“…Like F.A. Hayek, Ludwig von Mises moved beyond economics in his later years to address questions regarding the foundation of all social science. But unlike Hayek's attempts, Mises's writings on these matters have received less attention than they deserve. Theory and History, writes Rothbard in his introduction, "remains by far the most neglected masterwork of Mises."

Here Mises defends his all-important idea of methodological dualism: one approach to the hard sciences and another for the social sciences. He defends the epistemological status of economic proposition. He has his most extended analysis of those who want to claim that there is more than one logical structure by which we think about reality. He grapples with the problem of determinism and free will. He presents philosophy of history and historical research. Overall, this is a tremendously lucid defense of the fundamental Misesian approach to social philosophy.

"It is Mises's great methodological work, explaining the basis of his approach to economics, and providing scintillating critiques of such fallacious alternatives as historicism, scientism, and Marxian dialectical materialism…. Austrian economics will never enjoy a genuine renaissance until economists read and absorb the vital lessons of this unfortunately neglected work."

Theory and History should be required for any student of 20th-century ideas. …”

26- Value-based Pricing : 12 Lessons to Make Your Transformation Successful, Stephan M. Liozu

“…This is Stephan Liozu’s fifteenth book on value and pricing management. It offers a deep dive into value-based pricing methodology, focusing on what it takes to successfully conduct value-based pricing transformations and large-scale initiatives. Stephan shares his extensive knowledge and the lessons he has accumulated over 15 years of work, study, and writing on this topic. Having worked on a dozen value-based pricing transformations, he presents 12 crucial lessons that can help pricing leaders and practitioners design and execute value-based pricing more effectively. This book follows Stephan’s 2016 book Dollarizing Differentiation Value, which provides a more technical and methodological perspective on value-based pricing.

Value-based pricing is not suitable for every organization. Some companies may benefit more from improving their cost-based pricing and pricing discipline. Others should focus on building a strong foundation in customer centricity and competitive understanding before embarking on a value-based pricing journey. This book provides a realistic view of what it takes to undertake such a journey. Its purpose is not to advocate for universal adoption of value-based pricing, but to discuss the prerequisites, conditions, and key success factors necessary for pursuing it, without guaranteeing success. This is the challenge. While cost-based pricing can have an immediate impact, investing in value-based pricing requires a higher upfront cost with no clear guarantee of positive results. This presents a conundrum.

However, companies that have fully invested in value-based pricing and followed most of these lessons have experienced great success in their transformations. Value-based pricing, when combined with excellence in business strategy and innovation, can help companies achieve unprecedented levels of operating income. These 12 lessons have been tested in several workshops at professional pricing conferences and have resonated with many pricing practitioners. I hope they will resonate with you too. Enjoy the journey! …”

27- La ciudad y los perros, Mario Vargas Llosa

“… En 1962, La ciudad y los perros recibía el Premio Biblioteca Breve y unos meses más tarde era publicada tras sortear la censura franquista. Así comenzaba la andadura literaria de esta obra con la que Mario Vargas Llosa alcanzó el reconocimiento internacional y que hoy considerada una de las mejores novelas en español del siglo xx.

Traducida a treinta idiomas, está ambientada en el Colegio Militar Leoncio Prado. Los protagonistas, un grupo de jóvenes que se «educan» en una disciplina militar implacable y violenta, aprenden a sobrevivir en un ambiente en el que están muy arraigados los prejuicios de raza y las diferencias entre clases sociales y económicas; donde todos se muestran como no son en realidad y la transgresión de las normas establecidas parece ser la única salida.

La ciudad y los perros no es solamente una diatriba contra la brutalidad, sino también es un ataque frontal al concepto erróneo de virilidad y a una educación castrense mal entendida. A lo largo de las páginas de esta extraordinaria novela, la vehemencia y la pasión de la juventud se desbocan hasta llegar a una furia, una rabia y un fanatismo que anulan toda sensibilidad. …”

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