84 books like Billion Dollar Whale

Whereas I spent my time extracting secret information from corporations to potentially cause their demise, John Perkins was flying around the world trying to do the same thing to developing nations. A sobering tale of bad policies and bad leaders pushed on unsuspecting populations, Confessions of an Economic Hit Man is a nail-biting expose of what America is willing to do regardless of the collateral damage to other countries. 

As everyone knows at this point, anything Michael Lewis writes will be enormous fun to read, while being about something really important—something he’ll make you care about even if you didn’t when you started the book.

In this case, the subject is people who bet on the direction of mortgages (and thus, house prices), and how those who bet on a huge plunge were right. This book has an amazing cast of characters, all richly drawn: some are smart, some are not so smart; some are excellent schmoozers, some can barely tolerate human interaction; some care a lot about money, some care more about being right, especially if everyone else is wrong.

Each book I've recommended cries out to be made into a movie. This one actually was.

When I was writing my book, I reached out to Frank Abagnale to thank him for writing Catch Me If You Can. Indeed, I dedicated my book to him. To my great surprise, he asked to read my book and then offered an incredible blurb which the publishers put on the cover. So I must admit that any review I write of Catch Me If You Can will be biased. Plus, what can you say about someone who faked being a doctor, a lawyer, and an airplane pilot? I’ll tell you what. Mr. A is a great writer, storyteller, and a hell of a good guy too!

Wolf of Wall Street author Jordan Belfort and I shared more than a few things in common. First off, we were both using the telephone for illegal purposes: me to con executives and gatekeepers to reveal corporate secrets; Belfort to defraud mom-and-pop investors to the tune of $200 million or so. And we both spent time in Beverly Hills: me while playing a desk clerk in a couple of episodes of Melrose Place; Belfort while living there after his pump-and-dump outfit Stratton Oakmont was shut down. Belfort’s Midas-gone-rogue story is chock full of sex, drugs, and sinking ships, and The Godfather of con stories. 

I love this book because it is one of those rare books written by a woman who trained to become a wealth manager in order to tell a story about how the ultra-rich keep getting richer despite taxes on income, capital gains, property, and inheritance. In her groundbreaking investigations, she follows the money of the ultra-wealthy through some of the most popular offshore tax havens. She also interviews wealth managers to shed light on how they help their clients dodge taxes and creditors and hide money from their families. I am in awe of the author's achievement. 

I found this book to be a raw act of bravery. Desmond Shum describes his and his ex-wife Whitney Duan’s economic ascendancy in China as they climbed to become part of a billionaire class. Shum describes all of the ways they had to play in the gray in order to successfully execute massive real estate and airport projects. On a personal level, he takes you inside his life as an elite, purchasing expensive homes, vehicles, and art. But just as quickly as they rose, his wife vanished as part of the party’s use of extralegal kidnappings to facilitate investigations into corruption.

This book is one man’s act of bravery in risking everything to tell his story while also implicating himself in corrupt activity. He shows us that charges of corruption must be understood through a political lens with the objective of consolidating power and preserving the legitimacy of the Communist… show more.

I loved this book because it takes you inside the exclusive world of the ultra-wealthy within the United States and shows how the richest are exploiting the natural environment in Teton County, Wyoming, to solve personal existential crises.

The author managed to get incredible access to prominent tech CEOs, Wall Street financiers, and other ultra-high-net-worth individuals who have moved to a place where they can profit from their environmental philanthropy while also contributing to ever-widening economic inequality by privatizing public goods. I thought this book provided a fair yet fascinating insight into the contradictions of philanthropy, which allow the rich to donate in ways that absolve themselves from the guilt of the inequality that they contribute to. 

This is one of my favorite new books that provides an on-the-ground investigation of the global market for citizenship. I learned a tremendous amount about the “market” for passports.

Surak provides a window into the states and brokers who sell them and the billionaire/multimillionaire elites who can afford to buy them. With an incredible six years of fieldwork and hundreds of interviews, she shows the scale of a full-blown industry where buyers, brokers, and sellers all profit from the citizenship trade. 

Davies’ Lying For Money lays out a taxonomy of fraud, illustrated with amazing stories of real-life frauds.

Per Davies: “A long firm makes you question whether you can trust anyone. A counterfeit makes you question the evidence of your eyes. A control fraud makes you question your trust in the institutions of society and a market crime makes you question society itself.”

Davies’ key trick to spotting a fraud: look at something that’s growing unusually quickly, and examine it in some way it hasn’t been examined before.

Only the second chapter is about cryptocurrency specifically, but understanding how frauds think is fabulously useful in understanding how crypto works. Not even crypto’s frauds are new.

Davies used different stories in the UK and US editions of the book – so get both.

Mr. Carreyrou was the Wall Street Journal reporter who broke the story that eventually led to the downfall of Elizabeth Holmes, CEO of Theranos. At its peak, this company was worth over $9 billion. Today, Holmes and her former COO have been convicted of fraud and are serving time.

I like this book because it serves as a curriculum for how NOT to operate a biotech company. It shows that while belief in your vision is essential for all successful entrepreneurs, there is no place for secrecy and arrogance in the business world.

Unfortunately, the “Theranos” effect has led to a decline in investment in new medical technology and has had a negative effect on the value of clinical laboratories.