Continuing our blog series, “Powerful Reading,” our team of energy trading consultants at MidDel Consulting will be sharing some of their favorite books. These books have not only influenced them in the excellent work that they do for our clients as energy consultants, but have also helped them gain perspective on a variety of global issues as we continue to strive to build a culture of lifelong learning.
Today, we look at two books: The Big Short – Michael Lewis, 2011 And Then the Roof Caved In – David Faber, 2010
These two books both illustrate what led to the economic collapse in 2008 resulting from the mortgage crisis. The books are complimentary in that while they both cover an ugly episode in American finance; they approach it from different angles with little overlap between the two.
Lewis has a natural gift for explaining complex topics in lay terms. In the movie version of The Big Short, it often cut away to celebrities attempting to explain some of these complexities in a provocative setting. Lewis’ writing needs no gimmicks. Understanding what led to the mortgage crisis and the eventual economic downturn provide insight to identifying the next bubble.
Scott Pederson is a Certified Public Accountant and Senior Energy Consultant with MidDel Consulting. MidDel Consulting is a System Integrator and Professional Services firm specializing in services supporting the business systems for Front, Back and Mid-Office. MidDel has been in business for over 14 years, and our consultants, on average, bring over 20 years of senior level energy industry knowledge to our projects. We have deep relationships with our clients, often working with them for more than a decade. For more information, email us at email@example.com or call 952-500-9275.