CONTENTS
Acknowledgements = ⅸ
Introduction : The Q Culture = xi
PARTⅠ : A TALE OF TWO MARKETS = 1
CHAPTER 1. Mr. Market's Bipolar Disorder = 3
Swings, Bubbles, and Crashes = 5
Be an Anomaly = 11
Barrel of Monkeys? = 12
CHAPTER 2. Prozac Market = 17
Obscurity = 17
Simplicity = 18
The Perfect Dream = 22
Tidying Up the Tale = 28
CHAPTER 3. Chaotic Market = 33
New Wive = 33
Next Wave = 36
Complexity = 46
Behavioral Finance = 47
CHAPTER 4. Amplified Volatility = 51
Information Volatility = 51
Transaction Volatility = 59
Trader Volatility = 63
Prognosis = 66
CHAPTER 5. Take the Fifth = 69
Who's in Charge? = 70
Sticking to Your Knitting = 71
Alchemy = 81
The Long Run = 86
PARTⅡ : SHOW ME THE MONEY = 89
CHAPTER 6. Apple Trees and Experience = 91
Fools and Wisdom = 91
Horse Sense = 100
CHAPTER 7. Your Circle of Competence = 105
The Initial Circle = 106
The Nurtured Circle = 109
A Full Circle = 114
Decision Making = 116
CHAPTER 8. Recognizing Success = 119
Business Fuel = 120
Managers under the Microscope = 124
Bang for the Buck = 128
The Full Tool Chest = 131
CHAPTER 9. You Make the Call = 133
Assets = 134
Earnings = 138
Silver Bullets and the Margin of Safety = 142
Cash = 144
Market Circularity = 146
CHAPTER 10. Making(Up) Numbers = 153
Perennials = 153
Satire = 157
Charades = 162
Coda = 167
PARTⅢ : IN MANAGERS WE TRUST = 169
CHAPTER 11. Going Global = 171
The Two-World Story = 172
Illusions of Duty = 176
One World to Come = 180
CHAPTER 12. Rules and Trust = 193
The Family Manager = 193
Local Governance = 195
General Governance = 200
Your Voice at the Table = 202
CHAPTER 13. Directors at Work = 205
Hail to the Chief = 206
Pay = 207
Deals = 212
Capital = 215
Checking Up = 217
CHAPTER 14. The Fireside CEO = 221
Master Servants = 221
Action = 222
Lights = 230
Trust = 235
Conclusion : The V Culture = 243
Notes = 245
Index = 257
