Summer Reading: Investment Dealers Digest Recommends Creative Capital

Tom Granahan of the Investment Dealers Digest recommended my book in the July 14 issue of IDD, calling the story of Georges Doriot “a remarkable one.” I would point you to the online version but the site requires registration. So instead I just posted the item here. It’s really short:

We all remember the summer reading lists from school. This summer there may be some good reading that pertains to us all. At Iona Prep – an all-boys school run by Christian Brothers – we had to read Dickens’ “A Tale of Two Cities” and Harper Lee’s “To Kill A Mocking Bird.” Two pieces of fantastic writing that capture human nature at its best and worst. They also talk of mob mentality and how reason can be lost. Like all good writing, these stories are valid today.

These days legislators are in a lather about speculators in the oil market. They want to do away with these evil speculators. While their intentions may be good they may be harmful because they chip away at some basic principles of this nation: the right to have a free market.

Sure, business leaders have to have some responsibility to their local community. But you have to be concerned when Washington lawmakers – see what Mark Twainhas to stay about politicians – get into the mix. When there is a national election you’ll always catch a whiff of populism and playing to the masses. Sometimes the masses don’t think clearly and there often is a mob mentality.

For those who want a bit of nonfiction for their summer reading – and a perfect example of legislators wooing the masses – you may want to consider “The Ten-Cent Plague: The Great Comic Book Scare and How It Changed America,” a recent history of how state and federal legislators looked to outlaw comic books shortly after World War II. Everyone likes to look for a scapegoat when things go bad. The war on comics was in response to a purported rise in juvenile delinquency. You may be surprised at the outrage and time spent on the issue of comics. Not much different than some of the outrage being vented these days at: 1. those evil oil speculators 2. villains on Wall Street 3. the mortgage industry. When the economy slows and times get tough people need to place blame somewhere. Watch out.

Apropos of our cover story this week, there is another bit of recommended summer reading: “Creative Capital: Georges Doriot and the Birth of Venture Capital.” We mentioned the Harvard professor briefly in our story about IPOs, but his story and the foundation of modern venture capital in America is a remarkable one.

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2 Responses to “Summer Reading: Investment Dealers Digest Recommends Creative Capital”

  1. Aleks Says:

    Actually – it was the managing editor – Aleksandrs Rozens – who posted the editorial recommending the Doriot book. A great read.
    rgds,
    Aleks

  2. Spencer Ante Says:

    Sorry Aleks! But nice to hear from you! Thanks for your kind words and support!

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