{"product_id":"the-dao-of-capital","title":"The Dao of Capital","description":"\u003cp\u003e\"Investors of all kinds will find immeasurable value in this convincing and thoroughly researched book where Mark champions the \u003ci\u003eroundabout.\u003c\/i\u003e Using thought-provoking examples from both the natural world and the historical world, \u003ci\u003eThe Dao of Capital\u003c\/i\u003e shows how a seemingly difficult immediate loss becomes an advantageous intermediate step for greater future gain, and thus why we must become ‘patient now and strategically impatient later.\"\u003cbr\u003e—\u003cb\u003ePaul Tudor Jones II\u003c\/b\u003e, Founder, Tudor Investment Corporation\u003c\/p\u003e \u003cp\u003e\"At last, a real book by a real risk-taking practitioner. \u003ci\u003eThe Dao of Capital\u003c\/i\u003e mixes (rather, unifies) personal risk-taking with explanations of global phenomena. You cannot afford not to read this!\"\u003cbr\u003e—\u003cb\u003eNassim Nicholas Taleb\u003c\/b\u003e, Author of \u003ci\u003eThe Black Swan\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\"You really should read Spitznagel's book because you will learn a lot whether you agree with everything he says or not.\"\u003cbr\u003e—\u003cb\u003eJim Rogers\u003c\/b\u003e, Author of \u003ci\u003eStreet Smarts—Adventures on the Road and in the Markets\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\"Wall Street gamblers who believe the Fed has their back need to read this book. Mark Spitznagel provides a brilliant demonstration that the gang of money printers currently resident in the Eccles Building have not repealed the laws of sound money nor have they rescinded the historical lessons on which they are based.\"\u003cbr\u003e—\u003cb\u003eDavid Stockman\u003c\/b\u003e, Former U.S. Congressman, Budget Director under Ronald Reagan, and Author of \u003ci\u003eThe Great Deformation\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\"A timely, original, right-economic principles and history-based approach to investing. Drawing on impressive philosophical building blocks, \u003ci\u003eThe Dao of Capital\u003c\/i\u003e illuminates the wellsprings of capital creation, innovation and economic progress. Dazzling!\"\u003cbr\u003e—\u003cb\u003eSteve Forbes\u003c\/b\u003e, Chairman and Editor-in-Chief, Forbes Media\u003c\/p\u003e \u003cp\u003e\"This is a magnificent, scintillating book that I will read over and over again. Every page is eye-opening, with numerous areas for testing and profits in every chapter. Here's an unqualified, total, heartfelt recommendation, which coming from me is a rarity, and possibly unique.\"\u003cbr\u003e—\u003cb\u003eVictor Niederhoffer\u003c\/b\u003e, Author of \u003ci\u003eThe Education of a Speculator\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\"\u003ci\u003eThe Dao of Capital\u003c\/i\u003e is an impressive work. Spitznagel's approach is refreshing—scholarly without being tedious. What a broad look at economic history it provides!\"\u003cbr\u003e—\u003cb\u003eByron Wien\u003c\/b\u003e, Vice Chairman, Blackstone Advisory Partners LP\u003c\/p\u003e \u003cp\u003e\"Spitznagel has written an essential new book. Indeed, \u003ci\u003eThe Dao of Capital: Austrian Investing in a Distorted World\u003c\/i\u003e might be one of the most important books of the year, or any year for that matter.\"\u003cbr\u003e—\u003ci\u003e\u003cb\u003eForbes\u003c\/b\u003e\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\"\u003ci\u003eThe Dao of Capital: Austrian Investing In A Distorted World\u003c\/i\u003e by Mark Spitznagel (Wiley, 2013) is a beautifully crafted book, one I can recommend to readers of all political\/economic persuasions... it is impossible not to be shaped by its carefully presented history and logic.\"\u003cbr\u003e—\u003ci\u003e\u003cb\u003eSeeking Alpha\u003c\/b\u003e\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\"There is no shortage of market bears who take a grim view of the stock market. But Mr. Spitznagel has gained credibility in the investment world by predicting two market routs in the past decade, first in 2000 and then in 2008. Still, Mr. Spitznagel's approach is unusual for a money manager.\"\u003cbr\u003e—\u003cb\u003e\u003ci\u003eThe New York Times\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"A fascinating and radical break from the investment dogma of the past several decades.\"\u003cbr\u003e—\u003cb\u003e\u003ci\u003eFortune\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"While \u003ci\u003eThe Dao of Capital\u003c\/i\u003e makes for demanding reading, it repays the effort as a heady historical and intellectual feast.\"\u003cbr\u003e—\u003cb\u003e\u003ci\u003eBarron's\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Spitznagel could simply have written that investors need patience and must avoid the temptation of the quick profit; that building a successful strategy, and life, involves a longer-term approach foregoing instant gratification; that establishing a solid foundation while appearing not to create progress puts you in position for much greater success later on. He did not do that. Instead, he takes you on a tour of history and nature that illuminates these long held truths. In the end his message is simple, but by providing the historical underpinnings he brings them to life in a much more vibrant way.\"\u003cbr\u003e—\u003cb\u003e\u003ci\u003eFutures Magazine\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Among the '12 Books That Every Investor Should Read...' deeply informative and will leave an impact on you.\"\u003cbr\u003e—\u003cb\u003e\u003ci\u003eBusiness Insider\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"A memoir and free market manifesto... that bring(s) theoretical concepts down to the practical level.\"\u003cbr\u003e—\u003cb\u003eInstitutional Investor\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"I applaud the book as a look into the thinking process of a great investor, especially one that has a clear and consistent understanding of the market process, the dangers of government intervention, and the benefits of Austrian economics.\"\u003cbr\u003e—\u003cb\u003eLudwig von Mises Institute\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Mark Spitznagel assembles the best insights in human nature and economics to bring order out of the chaos of our world. Economists, investors and lay persons alike will find abundant treasures in \u003ci\u003eThe Dao of Capital,\u003c\/i\u003e one remarkably useful and exciting book!\"\u003cbr\u003e—\u003cb\u003eLawrence Reed\u003c\/b\u003e, President, Foundation for Economic Education and President Emeritus, Mackinac Center for Public Policy\u003c\/p\u003e \u003cp\u003e\"Spitznagel's excellent book is a powerful presentation of how monetary policy deceives entrepreneurs and investors into making poor investing decisions. I highly recommend \u003ci\u003eThe Dao of Capital\u003c\/i\u003e as a guide to avoiding these deceptions and thus to better investment results.\"\u003cbr\u003e—\u003cb\u003eMarc Faber\u003c\/b\u003e, Publisher of \u003ci\u003eThe Gloom, Boom \u0026amp; Doom Report\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\"Spitznagel's sound analytical foundations combined with shrewd strategic thinking provide the reader with a broad philosophy for long run success in wealth creation—where understanding the process that puts you in a position to win is more important than simply stating the goal of winning. I greatly recommend this book.\"\u003cbr\u003e—\u003cb\u003ePeter Boettke\u003c\/b\u003e, Professor of Economics and Philosophy, George Mason University\u003c\/p\u003e \u003cp\u003e\"Mark Spitznagel has done a remarkable job summarizing, synthesizing, and extending the great Austrian tradition, and weaving it into a wonderful set of practical lessons. What's more, he is a great writer and storyteller in the tradition of Bastiat, Hazlitt, and Rothbard, bringing subtle and sometimes complex ideas to life with memorable examples and sparkling prose. Highly recommended!\"\u003cbr\u003e—\u003cb\u003ePeter Klein\u003c\/b\u003e, Professor of Applied Economics, University of Missouri and Carl Menger Fellow, Ludwig von Mises Institute\u003c\/p\u003e \u003cp\u003e\"Mark Spitznagel was one of the most profitable hedge fund managers both before and after the 2008 crash. \u003ci\u003eThe Dao of Capital\u003c\/i\u003e is a comprehensive understanding of the theories of Ludwig von Mises and the Austrian economic tradition. Mark brings Austrian economics from the ivory tower to the investment portfolio.\"\u003cbr\u003e—\u003cb\u003eRon Paul\u003c\/b\u003e, Former U.S. Congressman\u003c\/p\u003e","brand":"Ron Paul","offers":[{"title":"Default Title","offer_id":42838950871101,"sku":"9781118347034","price":46.76,"currency_code":"AUD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0597\/7689\/2989\/files\/9781118347034_8c6a5104-9ce4-4f11-8311-97908c2bc40f.jpg?v=1766950104","url":"https:\/\/www.palmleaf.com.au\/products\/the-dao-of-capital","provider":"Palmleaf","version":"1.0","type":"link"}