New Books in Economic and Business History Ethan A. Everett, "The Investment Philosophers: Financial Lessons from the Great Thinkers" (Columbia Business School, 2025)
What do Warren Buffett and Friedrich Nietzsche have in common? Why does Baruch Spinoza’s understanding of irrational emotions help explain financial markets? How did Voltaire’s success in a bond lottery arbitrage shape his writing? Can David Hume teach an investor when to buck the consensus and when to heed it?
Exploring these questions and many others, Ethan A. Everett reveals the surprising lessons we can learn about investing from major philosophers. Demystifying ideas and texts that can often seem intimidating or irrelevant, he shows how philosophical concepts can be fruitfully applied to financial markets. Everett shares how philosophers’ insights have informed his development as an investor, and he considers how great investors have embodied philosophical wisdom in their own endeavors.
Ranging from the birth of modern securities markets in seventeenth-century Amsterdam to recent trends like meme stocks, this book shows why a philosophical perspective can prove invaluable to challenging common assumptions in finance. Thinkers like Spinoza or Baudrillard are sometimes envisioned as disembodied minds constructing opaque, self-enclosed theoretical systems, but Everett elegantly concretizes their teachings, brings them to bear on our lived experience of the world, and shows how they can help us better appreciate the joys and vicissitudes of the market.
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