Wantmore, Tweakmore, Totalscum, and the Tragedy of Boneheadia, by Charlie Munger

See also:

The art of stock picking as a subdivision of the art of worldly wisdom: http://www.paladinvest.com/pifiles/MungersWorldlyWisdom.htm

Academic economics, strengths and faults after considering interdisciplinary need: http://www.tilsonfunds.com/MungerUCSBspeech.pdf

And ultimately, the book of Proverbs: http://bit.ly/olWKq5

A more technical explanation of the "formula"s can be found here: http://www.wired.com/techbiz/it/magazine/17-03/wp_quant?curr...

Very nice and well written summary of CDOs

Very well written indeed.