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The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron
by Bethany McLean, Peter Elkind
from Penguin Books Ltd
Customer Reviews:
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Avg. Customer Rating: 4.5 / 5.0 
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Must read - but was it all that obvious? 
Agree with previous reviews of this book and no doubt: must read before you do any more investments. Very well researched and exciting read. Describes things they don't teach you on MBA/CFA etc. Looking forward to a similar book on credit crunch!
Have to say though, I'm about half-way through the book (sorry if it changes) but what's a bit disturbing is that all written from "it was all so obvious why didn't everybody see this coming" retrospective perspective. Fair enough, the authors wrote the... more info
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The Crooked E
This book is about a reality so different from my own, I use it as escapism. Although the transactions described are Byzantine, the book nevertheless holds the reader's attention for over 400 pp. Events are presented roughly chronologically; the characters and information accrue like an approaching balloon note; some questions are answered only after the reader has had time to stew. Tension mounts as the house of cards gets impossibly higher!
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Lehman brothers: Chapt 11 
Actually read this a few months back but thought I'd pen this short review on the day Lehman brothers filed for Chapt 11, Merril Lynch bought for a bargain by BOA, and AIG "restructuring" (ie throwing everything it can overboard). But, I hear you cry, what does Enron have to do with merchant banks? Well if you read this excellent book, you'll find that by the end of its existence Enron was essentially a merchant bank. It traded risk (and made some handsome profits doing so). The original hard infrastructure... more info
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Advanced accounting shenanigans don't create value
Very well researched account of the rise and downfall of Enron. It chronicles the start and the ultimate demise of this company, which never really had a great business model - (sorry Jeff Skilling). It is amazing that so many "smart" people did not understand basic business skills and the simple difference between economic and accounting gains. Jeff Skilling, a former McKinsey partner, should have stayed with the consulting firm where theory is safely differentiated from real world. Skillings' first... more info
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