417. Reasons to Be Cheerful

In 'How Music Works,' David Byrne acts as historian, anthropologist, raconteur, and social scientist to explore how music is shaped by its cultural and physical context. The book touches on the joy, physics, and business of making music, discussing how patterns and adaptations have influenced his own work with Talking Heads and other collaborators. Byrne examines the impact of recording technology, the evolution of music studios, and the changing economics of the music industry, while arguing against the distinction between 'high art' and 'low art' in music.

The Big Short tells the story of the 2007-08 financial crisis through the lens of several key players who predicted and profited from the collapse of the housing market. The book focuses on characters such as Steve Eisman, Mike Burry, Greg Lippmann, and the founders of Cornwall Capital, who saw the impending disaster and made significant gains by shorting the market. Lewis explains the complex financial instruments and the systemic failures that led to the crisis, making the narrative both accessible and engaging.

The book tells the story of the Oakland Athletics' 2002 season, where General Manager Billy Beane and his assistant Paul DePodesta used advanced statistical analysis, known as sabermetrics, to assemble a competitive team despite a limited budget. The approach, pioneered by Bill James, focused on metrics such as on-base percentage and slugging percentage rather than traditional measures like batting average and runs batted in. This data-driven strategy allowed the Athletics to compete with teams having much larger payrolls, like the New York Yankees, and achieve significant success, including a 20-game winning streak and a playoff appearance.

In 'The Power of Bad', John Tierney and Roy F. Baumeister discuss the negativity effect, which is the universal tendency for negative events and emotions to affect us more strongly than positive ones. The book explains why bad experiences stick with us longer than good ones, how this bias governs our moods, drives marketing, and dominates news and politics. It also offers practical strategies to recognize and manage this negativity bias, helping readers to avoid its pitfalls and use its power for positive results.

Liar's Poker is a non-fiction, semi-autobiographical book that details Michael Lewis's three-year tenure at Salomon Brothers, one of Wall Street's premier investment firms in the 1980s. The book provides a behind-the-scenes look at the culture of bond traders, highlighting the frat-boy camaraderie, killer instincts, and high-stakes games of bluffing and deception. Lewis describes the creation and use of mortgage bonds, the excessive bonuses, and the ruthless competition among traders. The narrative also touches on the author's disillusionment with the industry, leading to his resignation and transition into financial journalism.

The Undoing Project by Michael Lewis chronicles the intellectual and personal relationship between Daniel Kahneman and Amos Tversky, two Israeli psychologists whose research fundamentally changed our understanding of human decision-making. Their studies, conducted from the late 1960s to the 1980s, exposed systematic errors in human judgment under uncertainty and laid the foundation for behavioral economics. The book delves into their extraordinary lives, including their careers in the Israeli military, and how their personal differences and eventual estrangement affected their work. Lewis's narrative makes complex psychological concepts accessible through engaging storytelling, highlighting the profound impact of Kahneman and Tversky's work on various fields, including economics, medicine, and government regulation.