The Financial Times and Goldman Sachs recently announced the winner of the Business Book of the Year for 2008 and Mohamed El-Erian's book When Markets Collide has won. The award was given to the book that provides ”the most compelling and enjoyable insight into modern business issues, including management, finance and economics”. Mr. El-Erian is of course the co-chief executive of PIMCO, the world's largest bond fund manager.
An FT article describes the book as,
"A 'lucid and prescient' explanation of the credit crisis, and how to survive it, has won the 2008 Financial Times and Goldman Sachs Business Book of the Year Award. When Markets Collide by Mohamed El-Erian was described by Lloyd Blankfein, Goldman’s chairman and chief executive and one of the judges, as 'extremely accessible and compelling'. The book explains how a collision between markets of yesterday, centred on the US and the developed world, and the emerging markets of tomorrow is creating new opportunities and risks."
I have been meaning to pick this book up after hearing my buddy Jeffrey McLarty say good things about it, but forgot to. This award has just given me an excellent reminder and incentive to read it, as everyone seemingly has good things to say about it.
So, readers, anyone up for a group read of the Business Book of the Year for 2008? I will be picking it up and highly suggest you all do the same. After all, a book that has received this much constant praise has to have some solid insight in it. I have high expectations, but given that it's written by Mr. El-Erian, I don't think I'll be let down.