Fixed Income
Categories
Demographics & Culture
What we’re reading: 7 book ideas for 2024
John Emerson
Tomoko Fortune
Reagan Anderson
January 31, 2024
Whether chosen for entertainment or education, books can broaden horizons and promote independent thinking by exposing readers to new points of view. These qualities are also at the heart of The Capital System™, our distinctive investing approach that combines independent, high-conviction decision making with the diversity that comes from multiple perspectives. So it should come as no surprise that many Capital Group professionals are also big readers. We asked seven of them to share the recent reads that have helped shape or change their thinking.
1. Conflict: The Evolution of Warfare from 1945 to Ukraine
Concurrent wars in the Middle East and Europe are sobering reminders of the challenges facing the world today. John Emerson’s book recommendation delves into the causes, warning signs and unintended consequences of conflicts from the end of World War II through today. Written by retired U.S. Army General David Petraeus and military historian Lord Andrew Roberts, the book was published just as the war between Israel and Hamas began.
Emerson read the book ahead of a fireside chat he moderated with Petraeus, former director of the CIA, at the World Affairs Council. “This book offers one of the most cogent descriptions of the civil war in China, the Korean War and the Vietnam War. It also includes a compelling timeline on the lead-up to Vladimir Putin’s invasion of Ukraine almost two years ago. While direct confrontation between the superpowers has been avoided, the book offers a readable analysis on the evolution of conflict and the rise in smaller, regional proxy wars,” says Emerson, vice chairman of Capital Group International and a former U.S. Ambassador to Germany.
2. Essentialism: The Disciplined Pursuit of Less
Portfolio manager Tomoko Fortune often finds herself stretched thin between motherhood, career and community. Her book selection aims to help readers cut through the clutter.
The pursuit of less is about going after “the right thing, in the right way, at the right time,” according to author Greg McKeown, who draws on his work with company executives in this book about how others can regain control of their own choices.
“The book inspired me to focus on the most important things. In work, this means keeping the number of positions in my portfolios tighter. Outside of work, my focus is mostly on my family and kids, so I make sure to align my calendar accordingly,” Fortune says.
3. No Trade is Free: Changing Course, Taking on China, and Helping America’s Workers
With a rematch of the 2020 presidential election likely, Reagan Anderson’s book recommendation zeros in on a topic that is sure to come up this election cycle — China. Specifically, U.S.-China relations, which have shifted in recent years over concerns that free trade has undermined America’s economic prowess.
Author Robert Lighthizer, the U.S. trade representative under President Donald Trump, offers his analysis of how we got here and argues for a worker-focused approach to trade policy.
“This book helped me better understand our trade policies and the long-term implications with our trading partners,” says Anderson, a senior vice president on Capital Group’s government relations team.
4. The Code Breaker: Jennifer Doudna, Gene Editing, and the Future of the Human Race
Science fiction took a giant step towards reality with Jennifer Doudna and Emmanuelle Charpentier’s breakthrough method to alter any organism’s DNA.
Biographer Walter Isaacson writes a compelling profile of Doudna — from childhood to Nobel prize winner — and delves into the ethics of human engineering.
“The author does an extraordinary job of framing what it takes to become a great scientist,” says Portfolio Manager Rich Wolf.
Written during the pandemic, the book also details how researchers rose to the challenge of COVID-19.
5. A Gentleman in Moscow
Portfolio manager Don O’Neal, has offered several book recommendations via the podcast. This most recent selection is “perhaps my favorite novel I’ve read in the past few years,” he says.
Fictional Russian aristocrat Count Alexander Rostov is under house arrest in a luxurious hotel, where he befriends a poet, architect, prince, chef and others. Written by Amor Towles, the decades-long narrative allows for deep reflections and funny escapades that happen alongside consequential moments in history.
6. The Four Agreements: A Practical Guide to Personal Freedom
Equity analyst Jeff Garcia picked up this bestselling book after football star Tom Brady referenced it when reflecting on his 10 Super Bowl appearances. Author Don Miguel Ruiz highlights the teachings of the Toltec, who ruled ancient central Mexico, and offers four so-called agreements that could help people lead more fulfilled lives.
The last agreement, “always do your best” is something that resonated deeply with Garcia, much to his surprise. “To this day, I have the agreements in my office,” shares Garcia.
The other agreements include: be impeccable with your word, don’t take anything personally, and don’t make assumptions. While the advice seems sensible enough, Ruiz presents the teachings in a way that allows a personal examination of identity.
7. Good to Great
“I recently went back to this classic because it’s such a powerful book,” says equity portfolio manager Rob Lovelace. Few management consultants have influenced business leaders as much as Jim Collins. There’s a reason for that: rigorous research. Most of his findings are based on years of data that he and his team have amassed on what makes a company run.
In Good to Great, the author offers some surprising insights about what it takes to become a great company. For example, successful transformations rarely happen via a major rollout or change such as an acquisition. They are instead the result of a steady, blink-and-you-might-miss-it series of successes.
“It helps guide my nonprofit work and is a good reminder about the importance of governance,” Lovelace says.
Learn more about
Our latest insights
RELATED INSIGHTS
-
Demographics & Culture
-
Demographics & Culture
-
Long-Term Investing
Commissions, trailing commissions, management fees and expenses all may be associated with investments in investment funds. Please read the prospectus before investing. Investment funds are not guaranteed or covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. For investment funds other than money market funds, their values change frequently. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Past performance may not be repeated.
Unless otherwise indicated, the investment professionals featured do not manage Capital Group‘s Canadian investment funds.
References to particular companies or securities, if any, are included for informational or illustrative purposes only and should not be considered as an endorsement by Capital Group. Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds or current holdings of any investment funds. These views should not be considered as investment advice nor should they be considered a recommendation to buy or sell.
Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. This information is intended to highlight issues and not be comprehensive or to provide advice. For informational purposes only; not intended to provide tax, legal or financial advice. We assume no liability for any inaccurate, delayed or incomplete information, nor for any actions taken in reliance thereon. The information contained herein has been supplied without verification by us and may be subject to change. Capital Group funds are available in Canada through registered dealers. For more information, please consult your financial and tax advisors for your individual situation.
Forward-looking statements are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied in any forward-looking statements made herein. We encourage you to consider these and other factors carefully before making any investment decisions and we urge you to avoid placing undue reliance on forward-looking statements.
The S&P 500 Composite Index (“Index”) is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Capital Group. Copyright © 2024 S&P Dow Jones Indices LLC, a division of S&P Global, and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC.
FTSE source: London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). © LSE Group 2024. FTSE Russell is a trading name of certain of the LSE Group companies. "FTSE®" is a trade mark of the relevant LSE Group companies and is used by any other LSE Group company under licence. All rights in the FTSE Russell indices or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indices or data and no party may rely on any indices or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company's express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication. The index is unmanaged and cannot be invested in directly.
BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg’s licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
MSCI does not approve, review or produce reports published on this site, makes no express or implied warranties or representations and is not liable whatsoever for any data represented. You may not redistribute MSCI data or use it as a basis for other indices or investment products.
Capital believes the software and information from FactSet to be reliable. However, Capital cannot be responsible for inaccuracies, incomplete information or updating of the information furnished by FactSet. The information provided in this report is meant to give you an approximate account of the fund/manager's characteristics for the specified date. This information is not indicative of future Capital investment decisions and is not used as part of our investment decision-making process.
Indices are unmanaged and cannot be invested in directly. Returns represent past performance, are not a guarantee of future performance, and are not indicative of any specific investment.
All Capital Group trademarks are owned by The Capital Group Companies, Inc. or an affiliated company in Canada, the U.S. and other countries. All other company names mentioned are the property of their respective companies.
Capital Group funds are offered in Canada by Capital International Asset Management (Canada), Inc., part of Capital Group, a global investment management firm originating in Los Angeles, California in 1931. Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.
The Capital Group funds offered on this website are available only to Canadian residents.