Other People's Money: The Real Business of Finance

Vision. Any reader with an interest in finance and a belief in the power of ideas should read John Kay’s finely written book titled, Other People’s Money: The Real Business of Finance. Kay presents a vision to restructure the finance industry summarized as follows: “It is time to get back to work: the serious and responsible business of managing other people’s money.” Kay’s perspective shows how finance has strayed in recent decades, and he proposes the following: “It is possible to have a smaller, simpler financial services system that is better adapted to the needs of the non-financial economy – to achieve an efficient payment system, effective capital allocation, greater economic stability, security in planning and managing our personal finances and justified confidence in the people who advise us.” (p.290) I enjoyed Kay’s clear thinking and cogent writing. Rating: Five-star (I love it) Click here to purchase Other People’s Money from amazon.com.