Parallel stories of a man's life and the world of politics, economics and finance

Fascinating inside insights into Clinton administration and more.

I found it fascinating to read how someone high in finance handled complicated financial, political and interpersonal challenges. Among his many jobs, Robert Rubin was co-chariman of Goldman Sachs and US Treasury secretary. It was interesting to read his thought processes as he navigated many tough decisions and sticky situations. The book is warmly written.

Great book and a unique perspective (a wall streets risk arbitrager and secretary of the treasury - Robert Rubin). He applies his free market mentality to some of the most pressing international and domestic economic issues. Similar to the World is Flat or the Lexus and the Olive Tree (with a stronger economic bend), but told by someone with more expertise and experience

"The best social program is a strong economy"
-Bill Clinton

" A change-oriented culture has been central to America success and will be critical to its future economic progress"

Changed how I look at econ and also at the Clinton presidency. One of the first books on politics I read. Awesome first experience!!!

I enjoyed hearing about Rubin’s time within the Clinton administration. His descriptions of dealing with the various financial crises during that era, as well as the various budgetary battles, were engaging. The last third of the book covering his concerns about deficits, policy recommendations, and advocacy of free trade, was rather drawn-out.

This is an interesting book in which many people glean different gems given their background.While a lot of people enjoyed Chapter 2 about risk, I get a little upset when they quote this book as a risk management book. Indeed, what is discussed here shows most clearly why merger arb is one of the single riskiest strategies. The hedge that is taken will actually magnify the lost in the way that options do. Those often engaging find themselves in really bad circumstances when deals break. Rubin does not speak this flawed understanding. Instead, the point that I gleaned was that even a seasoned, professional will underestimate the risk of something that seems a "tail" event, i.e. the deal breaking. Hence, one should have some flexibility with what one believes to be absolute.



I do however like the idea that one should "maintain optionality". The way that Rubin has implemented through his career and life are remarkable. Moreover, you get a real sense for the type of moral fiber this person has, regardless of whether you agree or disagree. You get the sense that this was a man who wanted to learn from everyone, younger, older, etc...



I greatly enjoyed hearing about the differences between politics and business environments. It was fascinating how one delivers messages. It was also interesting to hear insights into the many amazing characters that he met during the Clinton administration.



Sadly, you also get a sense for the changes in the market place. The shorter term orientation, which is a sign of the times of computational improvements, have with it certain types of flaws as discussed in Chapter 13-15. While he defends Citi as properly implementing the orientation toward short term (addressing the immediate needs of the business) it's hard to know the degree to which that got extended post Weill's leadership.



I also found his commentary on corporate leadership fascinating. In light of the manner in which corporations have grown and the need for succession plans, 2 CEOs which Goldman has historically been able to maintain, seems ideal. One would think the very nature of CEO is teamwork and a certain ability to work with others. I would love to know more thoughts on that.

Well written with humility and deep understanding

I fundamentally agree that probabilistic thinking is key, but difficult to do. Bob Rubin has written a highly readable book that provides insights into forces that shape our country’s approach to international relations. It is valid especially today, considering the continued myopia of Republicans and the Trump administration.