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Whistler Reads: THE AGE OF TURBULENCE

abstract:Follow the example of Whistler Reads - a village book group that is now on its sixteenth book selection, The Age of Turbulence by Alan Greenspan. This discussion promises to be one of the most thought provoking of the year. It is a must-read for anyone involved in business, finance, economics, politics or who simply wants to understand how the world operates. Penguin writes, "This book is the distillation of a life's worth of wisdom and insight into an elegant expression of a coherent world view. The Age of Turbulence will stand as Alan Greenspan's personal and intellectual legacy." Hosted by BC Entrepreneur of the Year Lukas Lundin, and with special guest speaker Glen Donaldson PhD from the Sauder School of Business. With economists forecasting a recession, the changes to the Cnd-US currency exchange rates, and the banks reeling from the sub-prime mortgage crisis - it behooves you to attend this talk. Don't miss the chance to meet Mr. Greenspan at a sold out event in Vancouver later in January. Sponsorship generously provided by Lundin Mining. Plus, Lukas Lundin has donated two tickets to see Greenspan that will be up for raffle at the January 4th discussion.
Join WR and get your ticket for Jan 4th online today! $20 advance/ $25 at the door

Your receipt is your ticket.

article:

November 04, 2007

Our Host & Sponsor

Lukas Lundin has made his mark in the resource industry with his flagship companies Lundin Mining and Lundin Petroleum with holdings in twenty-three countries worldwide. Voted BC Entrepreneur of the Year for 2007, Mr. Lundin's philanthropic efforts include a $100-million pledge to the Clinton-Giestra Foundation helping third-world countries, with funds administered through his Lundin for Africa Foundation. Lukas is an avid skier and motorcyclist and the father of four sons.

About The Speaker

Biography –

Glen Donaldson

Dr. Glen Donaldson is an internationally recognized finance and business expert with over 20 years of experience in financial markets, strategy, financial instruments trading, and risk management.

Dr. Donaldson is Chairman of the Finance Division and holds the Finning Professorship in Finance at the Sauder School of Business at the University of British Columbia. He is also Regional Director of the Professional Risk Managers International Association, a consultant to the Bank of Canada, and Chairman of Quadrus Development. Over the span of his career Dr. Donaldson has served as a finance and business expert for the United States Federal Reserve, the International Monetary Fund, and the United States Securities and Exchange Commission, plus several private banks, investment groups and international corporations. Prior to joining UBC, Dr. Donaldson was a professor of financial economics at Princeton University.

Dr. Donaldson has published numerous articles regarding finance, money, markets, and business matters in leading business journals, and has been a panelist/speaker at business-technology and finance events including Enterprise Outlook Silicon Valley and the Western Finance Association. Dr. Donaldson has received awards for his work from the New York Stock Exchange and the Dow Jones Company.

Dr. Donaldson holds a B.A. from UBC, and M.A. and Ph.D. degrees from Brown University. In his spare time he enjoys sailing and powerboating and is a recreational pilot. We are delighted to have him speak to Whistler Reads in Whistler. He will discuss Mr. Greenspan's career and economic rationale behind some of his decisions during his tenure at the Fed, as well as current finance and market conditions with particular attention to local considerations. Bring your questions and a note pad!

About Mr. Greenspan

Alan Greenpan was born in New York City in 1926. He is 81 years old. He first studied clarinet at the Juilliard School of Music and became a professional musician. Later he did his Masters and his Ph.D. in Economics at NYU. Quite famously Greenspan was a great friend of philosopher and writer Ayn Rand. He wrote for Rand’s newsletters and authored several essays in her book Capitalism: The Unknown Ideal.

He worked briefly as an economist with the National Industrial Conference Board, then opened an economic consulting firm with bond trader William Townsend, called Townsend, Greenspan & Company and managed prestigious clients such as U.S. Steel and J.P. Morgan. Greenspan entered the political infrastructure beginning in 1968 when he took a job as director of policy research for Richard M. Nixon's presidential campaign. He would go on to be a part of every subsequent presidential administration - and his book has illuminations into each of them: Bush Sr., Carter, Reagan, Clinton, and Bush Jr.'s administrations.

Greenspan's tenure as Fed chairman began in 1987 with a nomination by President Ronald Reagan. He held the post for fourteen years, through several economic upheavals that tested his skills. The first came only ten weeks after taking the job when Greenspan presided over the biggest stock market crash in Wall Street's history. He dealt with the dot com crash, and 9-11 among other economic challenges.

"In essence, Greenspan was the human face of American capitalism. Twice a year, he gave Congress his assessment of America's economic status, and millions of investors paid close attention to what he said. Greenspan writes in Age of Turbulence just how carefully he sculpted these statements, and what he couldn't publicly state, which makes for fascinating reading. For example, in 1996 he gave a speech that included a quip questioning the stock market's "irrational exuberance on asset values." The following day the Dow Jones index fell 145 points. Former Congressman Frank Ikard once wisecracked that Greenspan is "the kind of person who knows how many thousands of flat-headed bolts were used in a Chevrolet and what it would do to the national economy if you took out three of them."--

What is the Federal Reserve?

The Federal Reserve (The Fed) is a system of twelve regional banks distributed equally around the USA with the headquarters located in Washington, DC. It was created in 1913 in a government-financial world effort to stabilize the economy and money supply. Every single day the Fed oversees the transfer of over $4 trillion in currency and securities via electronic and paper between its banks and their respective regional finance institutions. The Chairman of the Fed and its board is appointed by the US President.

If you go to the Federal Reserve website you will see some of the duties: follow principal economic indicators, ensure bank asset quality, watch bank assets and liabilities and flow of funds, monitor currency exchange rates and set domestic lending rates according to economic indicators, watch consumer credit, mortgage discounts, industrial production . . . and on and on.

Join This Whistler Reads Discussion

If you are in or around Whistler, or planning a ski vacation here in the first week of January - don't miss this meeting. We are bringing an excellent speaker from the Sauder School of Business who has worked at the Fed and knows the current chairman. We are holding it at the Four Seasons Hotel. The exciting news is that we will raffle off two tickets to the sold-out event in Vancouver January 24th at the Bayshore Hotel where Mr. Greenspan is appearing live and speaking to an exclusive group.

Pick up The Age of Turbulence. Read the book and purchase a ticket to attend our discussion January 4th. $20 now or $25 at the door. Your PayPal receipt is your ticket. You might be one of the lucky people to attend Alan Greenspan's talk in Vancouver. Stay tuned and join WR to receive email updates. paulas@bookbuffet.com

How to Become a WR Member

  • Click on REGISTER on the www.bookbuffet.com home page
  • Select "Invited to join an existing group"
  • Type "Whistler Reads" in the group name field
  • Fill in your own email and six-digit password
  • and remaining details.

    Past Whistler Reads Books, Events


    Odlum Brown's $10,000 Junior Investor Teaching Tool

    Ever wondered what you could do with $10,000 on the stock market? Well now is your chance to find out. Odlum Brown is one of BC's most respected investment firms. It was established in 1923. It continues to rank in the top three BC businesses by BC Business Magazine and is rated one of Canada’s 50 Best Managed Companies. Go to www.odlumbrown.com and click on the Young Investors Center. Then register with the site and use this feature to learn about investment. Here's how...

    Stock-Picker Challenge
    The objective is for participants to build a hypothetical portfolio, starting with $10,000 in play money, and to learn how to monitor the stock market. Use information gathered from sources to determine what is a good stock, balance risk, provide for growth, and watch your portfolio's performance.

    Track your results and bring them to our meeting on Jan 4th and we'll have a prize for the winning portfolio. Interested in starting an Investors Club of Whistler? Look for the sign-up sheet at the venue.

     

     

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