The 40 best books published so far this year (06’25)| From The Economist

The 40 best books published so far this year https://www.economist.com/culture/2025/06/05/the-40-best-books-published-so-far-this-year From The Economist Biography and memoir 1- Buckley: The Life and the Revolution That Changed America. BySam Tanenhaus 2-Careless People. By Sarah Wynn-Williams 3-The Optimist: Sam Altman, OpenAI and the Race to Invent the Future. By Keach Hagey. 4-Source Code: My Beginnings. By Bill Gates 5-The Thinking Machine: Jensen Huang, Nvidia and the World’s Most Coveted Microchip. By Stephen Witt Business, economics and technology 6-Apple in China: The Capture of the World’s Greatest Company. By Patrick McGee. Scribner 7-The Art of Uncertainty: How to Navigate Chance, Ignorance, Risk and Luck. By David Spiegelhalter 8-Chokepoints. By Edward Fishman 9-The Corporation in the 21st Century: Why (Almost) Everything We Are Told About Business Is Wrong. By John Kay 10-Empire ofai. By Karen Hao 11-House of Huawei. By Eva Dou Culture and arts 12-Adventures in the Louvre: How to Fall in Love with the World’s Greatest Museum. By Elaine Sciolino 13-Bye Bye I Love You: The Story of Our First and Last Words. By Michael Erard 14-Fatherhood: A History of Love and Power. By Augustine Sedgewick 15-John & Paul: A Love Story in Songs. By Ian Leslie 16-Pronoun Trouble: The Story of Us in Seven Little Words. By John McWhorter 17-Raising Hare. By Chloe Dalton Fiction 18-Among Friends. By Hal Ebbott 19-Beartooth. By Callan Wink 20-The Dream Hotel. By Laila Lalami. 21-Flesh. By David Szalay 22-Let Me Go Mad in My Own Way. By Elaine Feeney 23-Ripeness. By Sarah Moss 24-Theft. By Abdulrazak Gurnah. 25-Twist. By Colum McCann 26-We Do Not Part. By Han Kang History 27-38 Londres Street: On Impunity, Pinochet in England and a Nazi in Patagonia. By Philippe Sands 28-The cia Book Club: The Best-Kept Secret of the Cold War. By Charlie English 29-The Einstein Vendetta: Hitler, Mussolini and a Murder That Haunts History. By Thomas Harding 30-Jesus Wept: Seven Popes and the Battle for the Soul of the Catholic Church. By Philip Shenon 31-The Last Days of Budapest. By Adam LeBor 32-Peak Human. By Johan Norberg 33-Strangers and Intimates: The Rise and Fall of Private Life. By Tiffany Jenkins 34-The Third Reich of Dreams: The Nightmares of a Nation. By Charlotte Beradt Politics and current affairs 35-The Party’s Interests Come First: The Life of Xi Zhongxun, Father of Xi Jinping. By Joseph Torigian 36-Righting Wrongs: Three Decades on the Front Lines Battling Abusive Governments. By Kenneth Roth 37-Russia’s Man of War: The Extraordinary Viktor Bout. By Cathy Scott-Clark Science and health 38-Doctored: Fraud, Arrogance and Tragedy in the Quest to Cure Alzheimer’s. By Charles Piller 39-Is a River Alive? By Robert Macfarlane 40-More and More and More: An All-Consuming History of Energy. By Jean-Baptiste Fressoz 41-Waste Wars. By Alexander Clapp.

- Pedro

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A Fresh Perspective on Perfectionism, Inspired by HBR Ideacast

A Fresh Perspective on Perfectionism, Inspired by HBR Ideacast I recently listened to a thought-provoking episode of HBR Ideacast featuring Dr. Ellen Hendriksen, which explores how to understand and manage perfectionism. The episode draws on insights from her book How to Be Enough—a read I highly recommend. For me, the conversation was eye-opening. It prompted a fundamental shift in how I approach perfectionism. Why? Because it led me to revisit the first principles behind this often misunderstood mindset. Here are a few key takeaways: -Perfectionism isn’t about wanting everything to be flawless. Rather, it stems from overvaluing performance—viewing outcomes in binary terms (success or failure) and tying one’s self-worth to results. -It’s often driven by a positive trait: conscientiousness. This includes a strong sense of responsibility, diligence, a desire for excellence—all admirable qualities. However, when unchecked, they can push us beyond the point of diminishing returns. In essence, perfectionism arises when our conscientiousness compels us to keep refining or reworking something—whether it’s a report, decision, or assessment—even when further effort no longer adds value. In other words, when we ignore the “good enough” principle. Reflecting on my own habits through this lens, I recognize that I often struggle to draw that line. More than once, I’ve spent excessive time on tasks that, in hindsight, didn’t warrant it. To address this, I’m adopting a simple rule: Before continuing to improve a piece of work, I’ll ask myself—Is this already good enough for the purpose it serves? Lastly, if a recruiter asks me about my biggest weakness, I may still say "perfectionism"—but now, I can explain it with a deeper, more nuanced understanding of what that means and how I’m working to manage it constructively. https://podcasts.apple.com/es/podcast/hbr-ideacast/id152022135?i=1000683028403

- Pedro

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Speed, Strategy, and Talent: The Story Behind Ford’s Le Mans Victory

A film I recently watched about Ford’s bold bet and its race to win the 24 Hours of Le Mans. It’s a highly engaging movie that tells a fascinating story while illustrating how clear goals, a solid strategy, strong leadership support, and—above all—the right people and talent can turn the seemingly impossible into reality. As a bonus, it also highlights the role Goodyear’s technology played in making it all happen. If you’re a fan of cars, motorsport, and great storytelling, this is definitely a film worth watching. (text revised by a LLM) https://www.imdb.com/title/tt1950186/ https://www.primevideo.com/detail/0G0ZJRP5IMCAV5729ZXNRCIP8M/ref=atv_dp_share_cu_r

- Pedro

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Review > Value First, Then Price: Building Value-Based Pricing Strategies

Finalized Value First, Then Price: Building Value-Based Pricing Strategies by Andreas Hinterhuber (editor), Todd C Snelgrove (Editor) My Book Rating - 2.5/5 (Qualitative - between "Okay" and "I Liked It”) BOP#3 - Book Club The book explores the relevance and importance of a value-driven organization through multiple lenses: (i) pricing, (ii) procurement, (iii) management, and (iv) change management. It comprises 25 individual pieces—including interviews, essays, use cases, and empirical evidence—written by various authors. These contributions emphasize the importance of understanding value, its relevance, and how to effectively quantify and communicate it both internally and externally. As a whole, the book serves as a solid introduction and refresher on the significance of being a value-driven organization in any industry. It encourages readers to focus on the value they generate for customers and consumers. It also provides a great starting point for deepening your knowledge of value-based approaches and opens multiple pathways for further exploration.A recommended read for professionals in pricing, sales, and procurement, offering insights on how they can apply these principles within their organizations. A word of caution: Avoid the Kindle edition. While it is technically readable on a Kindle, the formatting has not been properly adapted to the platform. As a result, many of the Kindle’s features and readability enhancements are missing, significantly diminishing the overall experience and value. (text revised by a LLM) https://www.goodreads.com/review/show/7110863649

- Pedro

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Beyond the 60/40 Rule: How Merton’s Theory Optimizes Asset Allocation

A brilliant article by The Economist explores probabilities, risk management, and investment strategies for your hard-earned savings. In a simple, insightful, and compelling way, it revisits a half-century-old investment theory by Robert C. Merton, based on his paper "Lifetime Portfolio Selection Under Uncertainty: The Continuous-Time Case." Merton’s model challenges the traditional 60/40 portfolio rule, instead advocating for an optimal asset allocation based on an investor’s individual risk aversion. Using the Constant Relative Risk Aversion (CRRA) utility function and your risk aversion, his framework determines the ideal split between high-risk assets (stocks) and safe assets (bonds) to maximize returns. In essence, Merton suggests that the percentage allocated to risky assets should be equal to their excess expected return over the risk-free alternative, divided by both personal risk aversion and the square of the risky asset’s volatility. This approach leads to a more dynamic asset allocation, adjusting as these variables change. Take a few minutes to digest this—I'll need more than a couple myself. While the theory offers a sophisticated and theoretically sound approach, applying it in practice is not straightforward. It requires precise estimations of key variables and may involve positions that some investors are unwilling or unable to take (such as short-selling). Additionally, one must be aware of and willing to accept the underlying assumptions and trade-offs. Interestingly, studies suggest that this investment strategy has stood the test of time, potentially delivering a significant premium over the conventional 60/40 approach. I must admit that, despite holding an MSc in Finance, I had never come across this theory before. It has certainly piqued my interest, and I plan to explore it further to see if it can be applied to my portfolio management. Hope you enjoy the article as much as I did! (text revised by a LLM) How much happiness does money buy? https://www.economist.com/christmas-specials/2024/12/19/how-much-happiness-does-money-buy from The Economist

- Pedro

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What Must Be True: Strategic Thinking for Managing Risk

Roger Martin, former Dean of the Rotman School, has written a fascinating and insightful article about risk management, emphasizing that a robust strategic process is the only effective way to approach it. Martin argues that, in most cases, risk management conducted by corporate boards often amounts to little more than box-ticking to comply with the Sarbanes-Oxley Act (S-OX) Section 404. This requirement, enacted after scandals like Enron and WorldCom, has become a lucrative exercise for consulting firms but provides little real value to management or investors. Instead of addressing critical risks, these efforts often generate exhaustive lists of potential risks (as seen in typical 10-K filings), which serve as "safe harbor" statements for management rather than actionable insights. A more effective way to approach risk management is by applying the Rumsfeld Risk Matrix (as illustrated in the accompanying graphic). This matrix divides risks into four quadrants: 1.Known Knowns – Risks we are aware of and understand well enough to measure and manage. 2.Known Unknowns – Risks we recognize but do not fully understand. 3.Unknown Knowns – Risks we are unconsciously aware of but fail to identify as risks. 4.Unknown Unknowns – Risks we are entirely unaware of. The ultimate goal of risk management is to increase awareness, turning unknowns into knowns, and improving precision by addressing uncertainties. This involves identifying key risks that are not fully understood, assessing their material impact and likelihood, and investing in understanding them better. It also requires implementing systems to monitor risks that might not be obvious and to uncover entirely new risks. So how is this achieved? The answer lies in a strong strategic process. A well-designed strategy explicitly considers what must be true (WWHTBT) for success and potential derailment, addressing factors such as industry dynamics, customer behavior, organizational capabilities, competitor actions, vendor dependencies, and technological advancements. By conducting thorough internal (IFE) and external (EFE) factor evaluations, along with a comprehensive SWOT analysis, organizations can identify key risk factors, enhance awareness, and improve their ability to detect unknown risks early. This article offers valuable insights and is highly recommended for anyone interested in strategic risk management. (text revised by a LLM) https://rogermartin.medium.com/risk-management-strategy-59869afd3558

- Pedro

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El Gran Otro: Cómo el Capitalismo de Vigilancia Moldea Nuestros Comportamientos

He terminado La era del capitalismo de la vigilancia: La lucha por un futuro humano frente a las nuevas fronteras del poder por by Shoshana Zuboff, Albino Santos (Translator) Mi valoracion - 3/5 (Qualitativa - “Me ha gustado”) Un extenso libro sobre lo que la autora define como el capitalismo de vigilancia, que representa un nuevo paradigma para la sociedad, en el cual nosotros (los humanos) y nuestros comportamientos somos la fuente principal de materia prima para este proceso. Shoshana nos guía de manera exhaustiva a través de sus orígenes, cómo funciona y la importancia del behavioral surplus (excedente conductual) como base de todo. También aborda quiénes son los ganadores de esta nueva forma de organización social y económica (las "Magnificent 7") y quiénes son los grandes perdedores (nosotros). Se nos presenta todo lo que estamos perdiendo, en la mayoría de los casos sin ser conscientes de ello. Asimismo, se explican los riesgos a los que nos enfrentamos como sociedad: el fin de la privacidad, el libre albedrío individual y la creación de un "Gran Otro" que intenta influir en todos nuestros comportamientos. Es un libro cuya lectura recomiendo encarecidamente. Sin embargo, no es para todos, ya que resulta demasiado extenso. Estoy convencido de que podría reducirse fácilmente en un tercio de sus 861 páginas actuales sin perder su valor. De hecho, creo que esa reducción aportaría mayor claridad y eficacia al mensaje. Como diría Saint-Exupéry: "La perfección no se alcanza cuando no hay nada más que añadir, sino cuando no hay nada más que quitar". (texto revisado por LLM)

- Pedro

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10 Trends to Watch in 2025: Insights from Tom Standage

10 Trends to Watch in 2025, Inspired by Tom Standage’s Insights 1-America First Redux Geopolitical shifts will unfold as the U.S. doubles down on its "America First" policy. 2-A Call for Change Macro-political transformations are imminent, driven by demands for reform in nearly every major election of 2024. 3-Heightened Instability in Europe and the Middle East A transactional approach from the new U.S. administration could exacerbate tensions in these regions. 4-The Tariff Tsunami Expect more tariffs, with ripple effects on global trade and economic growth. 5-The Clean-Tech Boom China's advancements in clean technology could revolutionize the energy sector worldwide. 6-Inflation and Fiscal Tightening Most economies are gearing up for stricter fiscal policies, raising questions about growth and voter approval. 7-The Politics of Aging Could age limits for political leaders become a global trend? 8-AI Revolution Agentic AI systems are poised to become the most transformative innovation since the internet. 9-Tourism Backlash The pushback against overtourism will reshape the travel industry. 10-Expect the Unexpected From global pandemics to solar storms, the world must brace for unpredictable disruptions. Stay tuned for a deeper dive into each of these trends in the near future. (text revised by a LLM) Tom Standage’s ten trends to watch in 2025 https://www.economist.com/the-world-ahead/2024/11/18/tom-standages-ten-trends-to-watch-in-2025 From The Economist

- Pedro

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Starting a new book! Value First, Then Price: Building Value-Based Pricing Strategies by Andreas Hinterhuber (editor), Todd C Snelgrove (Editor)

Starting a new book! Value First, Then Price: Building Value-Based Pricing Strategies by Andreas Hinterhuber (editor), Todd C Snelgrove (Editor) "...Value-based pricing – pricing a product or service according to its value to the customer rather than its cost – is the most effective and profitable pricing strategy. Value First, Then Price is an innovative collection that proposes a quantitative methodology to value pricing and road-tests this methodology through a wide variety of real-life industrial and B2B cases. This book offers a state-of-the art and best practice overview of how leading companies quantify and document value to customers. In doing so, it provides students and researchers with a method by which to draw invaluable data-driven conclusions, and gives sales and marketing managers the theories and best practices they need to quantify the value of their products and services to industrial and B2B purchasers. The 2nd edition of this highly-regarded text has been updated in line with current research and practice, offering three new chapters covering new case studies and best practice examples of quantified value propositions, the future of value quantification, and value quantification for intangibles. With contributions from global industry experts this book combines cutting edge research on value quantification and value quantification capabilities with real-life, practical examples. It is essential reading for postgraduate students in Sales and Marketing with an interest in Pricing Strategy, sales and pricing specialists, as well as business strategists, in both research and practice. ..." https://www.goodreads.com/book/show/59858279-value-first-then-price?ac=1&from_search=true&qid=zhnvkchD61&rank=3

- Pedro

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Finalized Win, Keep, Grow: How to Price and Package to Accelerate Your Subscription Business by Mark Stiving - My Book Rating - 4/5

Finalized Win, Keep, Grow: How to Price and Package to Accelerate Your Subscription Business by Mark Stiving My Book Rating - 4 / 5 (Qualitative - “Really Liked it”) BOP#2 - Book Club A concise and highly insightful book on thinking and managing subscription businesses. It offers numerous valuable insights that I’ll carry into my professional life—not only for subscription businesses but also for broader applications, such as Internal Transfer Pricing within Management Performance Systems. These concepts have direct relevance to various organizational areas. I plan to publish a more detailed review in the near future—or at least, I hope to! https://www.goodreads.com/review/show/7061305482

- Pedro

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Visualizing Strategy: Building Blocks in Focus

A picture is worth a thousand words, and this visualization is a testament to that. It’s a great and simple representation of the strategy building blocks. In my professional life, I apply almost ipsis verbis what is depicted in this pyramid, even using the same nomenclature. (text revised by a LLM)

- Pedro

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Storytelling With Data

An interesting HBR video on how to put in practice storytelling with good examples, you just have to go through the first 30 seconds of the video and then it is worthwhile.
3 stages:

1. Setup
2. Conflict
3. Resolution (it does not mean to get it solved, but what was the outcome of the problem/conflict)

Afterwards, you can present your hypothesis and propose a solution

Storytelling With Data: A Good Charts Workbook Tool

How to make your arguments stronger

"...stick to their strongest points; resist the temptation to try besting others with brute force. ..."

"...it’s important to note that the delivery of your message is every bit as important as its content ..."

"...You cannot increase the quality of an argument by simply increasing the quantity of your argument ..."

THE RUGBY WORLD CUP

https://www.rugbyworldcup.com

What a great World Cup, one of the best of all times and the game has become so more exciting in the last 20 years! On top the values and ethic presented by more than 95% of the players clearly shows that the culture and environment you are in shape your behavior (specially when we compare with football players- a game that I love, but sometime the player attitudes lacklusters it)

James E. Schrager on GE and “the end of history”

Review: Due Diligence: The Critical Stage in Mergers and Acquisitions

Due Diligence: The Critical Stage in Mergers and Acquisitions by Peter Howson
My rating: 3 of 5 stars

Read this book to get a quick refresher and also to allow me to structure my knowledge on Due Diligence. I achieved both objectives. Not bad!

The book is a good guidance on the subject and makes you think through different lenses/areas of expertise the basics of this important and more often than not difficult phase of every M&A project.

It provides you practical watch-outs and leads you through the main areas of a Due Diligence and presents the main objectives, activities that should be undertaken & discloses the main risks and concerns.

For the areas where you are not an expert, it brings awareness of what you should expect and allows you to have an educated conversation with the subject matter expert on the required deliverables.

The check lists presented are a good tool, nonetheless the main one on appendix A should have been organized by area and not has it was disclosed (it seems randomly made).

Finally, i think what is called Commercial Due Diligence should have been named Strategic Due Diligence and the area of Risk is clearly lacking inputs and it's significantly below the other chapters of the books.

ps - due to the author nationality, the subjects presented are clearly skewed from an UK perspective, but that does not undermines the quality and insights conveyed.





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Review: Managing Risk and Uncertainty

Managing Risk and Uncertainty by Richard Friberg
My rating: 4 of 5 stars

I took a couple of days after reading this book to provide my rating and this review. I did it on purpose so i could mature the idea of what to write and how to rate it. Looking back it was a wise decision as the rating will be higher today if i did it immediately after (in fact would be a 3,5 stars).

I got this book by chance, while looking for books on risk, and the thing that made me read it was its synopsis and coming from MIT press, most probably I'm one of the few that did it (looking at goodreads jhistoric and even the information available on Amazon).

So why did i like it:
- Presented in an operational framework on how to think about risk and uncertainty and how to manage it, through different lenses and specific areas within a company;
- Ran through several areas related with risk & uncertainty (finance, economics, pricing, forecasting, behavioral science) explaining the basics and also disclosing the sources of it synthesis that allows a interested reader to deepen his knowledge in case he finds it appropriate (i will do it myself in a couple of areas);
- Disclosed the how the author thinks and approaches risks and uncertainty and you can use (always adding your critical reasoning and experience) to your day-to-day live. The 4 main strategies are a great starting point, at least how to structure it
- It requires (and can be a severe handicap for the ones not with sufficient literacy) at least a intermediate level of economic and finance knowledge to not get lost in quite a few areas. It made me revisit several concepts that i did not thought and operacionalize for a long time.

What i did not like:
- the books loses when it tries to be also a text book. Gets caught on the midst of a technical book with a specific body of knowledge, and a text book to support specific lectures on risk and uncertainty;
- The online resources are not currently available, that hamper the full resources that should be available;
- The examples that are quite good and insightful but could be complemented with additional examples (fully explained and resolved) and solution on the online resources.

I do think it was time worth spent reading it and for people that would like to broaden their horizons on this topic I do recommend its reading. I know that I will use specific areas of knowledge presented on my daily professional activity.


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Review: Négocier avec succès : Préparer, piloter et réussir ses négociations

Négocier avec succès : Préparer, piloter et réussir ses négociations by Maurice Hamon
My rating: 4 of 5 stars

Cette livre m’a été recommandée pour un ami et il fut une très agréable surprise. Il aborde la thématique de la négociation seulement en 167 pages y m’a enseigné 3/4 concepts pratique y méthodes de facile utilisation pendant tout le procès de négociation.

De touts les concepts présentée je devrais souligner pour su applicabilité et pertinence los suivants:
- La grille de analyse stratégique où en un simple graph nous pouvons définie y délimiter le contexte de une négociation. Néanmoins, je croix que il serait mais visuelle si la dimension Attitudes a été réfléchi en cette grille de la façon inverse (i.e. Combatif, Diplomate, Conciliant), donc le area de négociation augmenterait dans une négociation Conciliant et Convergent, cela me semble plus adapté a la réalité et a los concepts de la géométrie;
- La grille de analyses per se où se identifie pour chacun Objectif las Position Affichée Initiales, les Point de Rupture et son Utilités (la dernière notion en effet trés important) et les graphs que quelqu’un peut dessiner,

Pour moi la principale difficulté a été le français, c'est un idiome que je ne maitrise pas, donc un obstacle tout cette exercice.


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Missão e Objectivos

Há já algum tempo, durante a minha actividade profissional, constato que a maioria dos meus colegas, clientes, fornecedores e outros agentes (stakeholders), detêm, em média, um nível de conhecimentos muito reduzido sobre o valor que as actividades secundárias (tais como: Gestão Financeira, Gestão do Capital Humano, Gestão Estratégica, Controlo de Gestão e Performance, Gestão dos Sistemas de Informação, etc...) podem e devem aportar a qualquer organização.

Na realidade, estas actividades são percepcionadas como um custo necessário e obrigatório e raramente são tratadas como uma fonte de valor acrescentado. Situação, que na minha opinião, delimita de uma forma substancial a capacidade operacional, económica e financeira de qualquer organização e consequentemente a economia como um todo (e que me levou a criar uma empresa que visa fornecer este tipo de serviços).

Adicionalmente e mais recentemente, em especial desde Setembro de 2008, todos nós somos expostos diariamente a um conjunto de conceitos e termos económicos e financeiros que a maioria não domina e não sabe do que se trata, mas que, percebemos e sentimos, têm um impacto directo na nossa qualidade e nível de vida. Existe, de facto, uma natural iliteracia económica e financeira por parte daqueles que não têm formação específica nestas áreas.

De forma a mitigar este défice de informação e conhecimento (promovendo uma espécie de intermediação de informação), quer seja a nível empresarial, quer seja a nível individual, decidi criar este blog que pretende ser um fórum onde possamos partilhar o conhecimento que cada um tem em determinadas áreas e dessa forma minimizar o diferencial de conhecimento e informação que actualmente existe.

A missão do blog “Prémio de Risco” é fomentar o conhecimento e divulgar de uma forma simples e directa conceitos básicos nas áreas de Economia, de Estratégia, de Finanças, de Gestão Financeira, de Mercados Financeiros e de Controlo de Gestão e Performance que acrescentem valor aos seus leitores.

Deste modo, pretendo publicar neste “fórum”, de uma forma regular, artigos/”posts “que permitam um debate construtivo sobre cada um dos temas e assuntos mencionados anteriormente.

Os objectivos que me proponho com este blog são: 

•  Apresentar e explicar os conceitos associados aos Mercados Financeiros;
•  Apresentar e explicar os conceitos e os impactos das políticas Macroeconómicas;
•  Fomentar o conhecimento e o interesse pelas actividades secundárias;
• Promover o intercâmbio de ideias e experiências dos participantes neste fórum;
• Divulgar de uma forma regular artigos sobre cada uma das áreas de conhecimento em análise.