by Andrew White | July 6, 2017 | Comments Off on Book Review: Priceless – The Myth of Fair Value (and how to take advantage of it)
Book Review: Priceless – The Myth of Fair Value (and how to take advantage of it), William Poundstone, 2010. Will and Hang.
I purchased this book due to a recommendation from either the Economist or the Wall Street Journal. After reading it I am glad I only acquired the paperback version and I might even have saved that money. The book is ok but not exactly exciting or containing much I was not aware of at least generally. I must have credited too much to the recommendation.
The book darts all over the place from ideas about what price means, how price differs from value, differing expectations of buyers versus sellers, a little game theory, and a lot on behavioral economics. If I knew little about these things then perhaps this would have been a useful book.
The book is well written with short stories and vignettes from around the world to explain various and sundry techniques and theories. Some of the ideas seem to be covered over and over which gives the impression of padding rather than a concise analysis and guidelines. It was an ‘OK’ read but didn’t quite satisfy the curiosity aroused with the write-up that led to me acquire the book. I felt let down by the recommendation that sent me out to get the book.
Not quite recommended 4 out of 10.
Time for some more history or economics!
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