The Intelligent Investor
By Benjamin Graham (Updated by Warren Buffet and Jason Zweig)
Originally Published in 1949 (This edition updated in February 2006)
640 Pages
Thibault’s Score: 3/5

The Intelligent Investor was originally published in 1949, but has been regularly updated every decade or so since. The result is that the original spirit of Benjamin Graham is there, at the bottom of the book, but the actual book I read recently is a mess of statistics and examples from a wide variety of disconnected decades.

I didn’t really like the Intelligent Investor that much. I thought that the advice was very much in the category of “do this do that” rather than a systematic explanation of concepts.

I was looking for a book that would tell me in depth what a stock and bond was, why people bought and sold them, and about the laws.

Instead of a descriptive work, this work is almost entirely prescriptive.

The book gives specific advice such as putting 75% of your money in stocks, and 25% in other instruments. It also gives vague advice like “don’t speculate.”

This book is great for average sophistication and intelligence people who have no idea what to do on the stock market with their life savings. It is essentially useless for people who just want to understand financial markets in greater depth.

That being said, there is good advice. Avoiding highly speculative investments, being conservative, and focusing on not losing rather than making big wins are all good to know. I like how he stresses to avoid the crowds.

This advice meshes well with the advice I’ve gotten from the many extremely rich and successful investors I’ve met.

However, some of his advice doesn’t mesh at all with what I’ve heard from the wise and successful.

For example, he advises against investing in industries that you are familiar with because you will enter the market with biases. This might be true for people who are doing things at a low level and have enough knowledge to be at the top of the Dunning-Kruger curve. However, this does not apply to people who are working at higher levels or as industry analysts. It also does not apply to people who have a pessimistic bias, only to those who have either an optimistic or greedy bias.

I recommend this book to anyone who is tempted by get rich quick schemes, but not to anyone else. Anyone who believes that ICOs, penny stocks, hot tech stocks, and amateur day trading will get them rich needs to read this book to disillusion them from their dangerous beliefs.

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Seeing Like a State: How Certain Schemes to Improve the Human Condition have Failed
By James Scott
Published in 1999
460 Pages
Thibault’s Score: 5/5

This is one of the best books I have read since I have started reviewing books. It is one of the few books that is a must read for everybody.

James Scott explains how the perceptions states have, which are often based off statistical ideation, often fail to align with reality. The result is that well intentioned policies often turn into disastrous affairs which ruin the lives of real people.

The book, despite having been written 20 years ago, is still completely relevant.

He goes over numerous examples of state policies throughout history, and explains how they failed because the states which sought to implement them did not perceive the realities on the ground. Scott’s examples are clear, interesting, and wide ranging through time and space.

Whether discussing forestry in Prussia, agriculture in the Soviet Union, or urbanization in Brazil, James Scott always impresses. His examples are so interesting and clearly written, that the reader always immediately understands what he wants to say.

This is the single best book I’ve ever read, with perhaps one or two exceptions, that explains why government policies fail.

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Reconquest and Crusade in Medieval Spain
By Joseph F. O'Callaghan
Published in September 2013
344 Pages
Thibault’s Score: 4/5

After reading two very biased histories about Spain in the Middle Ages, this book was a refreshing clear headed and impartial analysis of the period.

The Ornament of the World was biased towards the idea that Islamic reign was peaceful and tolerant. The Myth of the Andalusian Paradise was specifically written to refute the arguments laid out in The Ornament of the World.

Reconquest and Crusade in Medieval Spain acknowledges the achievements and horrors of both Islamic and Christian reigns. It was not written as an attempt to alter or rewrite the nature of history, or promote a political agenda.

The book focuses especially on the reconquest period, although it does briefly discuss the initial Arab occupation of Iberia. One key argument made by the author is that the Christian reconquest of Spain can be classified as a proper crusade, and fell well within the tradition of Middle Eastern crusades.

I recommend this book as a good starting place for people who want to learn more about the wars between Christians and Muslims in Spain throughout the Middle Ages, and does not want to be bombarded with a modern political opinion.

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The Myth of the Andalusian Paradise: Muslims, Christians, and Jews under Islamic Rule in Medieval Spain
By Dario Fernandez-Morera
Published in February 2016
376 Pages
Thibault’s Score: 3/5


The Myth of the Andalusian Paradise is a refutation of the scholars like Maria Rosa Menocal who argues in books such as The Ornament of the World that Islamic Spain was a tolerant society.


I was shocked when I read Fernandez-Morera’s book to find that his view of Medieval Spain contrasted so sharply with Maria Rosa’s view, and that she barely described any of the violence.


Most notably was the ubiquitous presence of sex slavery in Islamic society. Muslim men would buy Christian women as sex slaves, then mass impregnate them. They would allow Christians to breed to keep a livestock population of second class citizens.


The sex slavery was just the tip of the iceberg. Countless massacres, genocides, and population displacements tormented the people of medieval Iberia. Churches and synagogues were razed, books burnt, and art destroyed.


In Dario Fernandez-Morera’s image of the epoch, Muslims are not enlightened despots. Instead, they are ravaging invaders.


I suspect that Dario Fernandez-Morera is closer to the truth than Maria Rosa Menocal, but need to questions his historiography as well. I am not sure that neighboring Christian societies were not just as barbaric as Muslim Spain. The Crusader States, which I have recently read about, also seem like they were very barbaric.


Either way, I gained a lot from reading the two books side by side. I recommend reading both books, and keeping in mind that both are biased.

​The Ornament of the World: How Muslims, Jews, and Christians Created a Culture of Tolerance in Medieval Spain
By Maria Rosa Menocal
Published in April 2003
315 Pages
Thibault’s Score: 3/5


The point of this book is to argue that Islam was very tolerant and highly learned in the Middle Ages in Spain. This book was written with a clear agenda to make Muslims look good, and that is immediately disclosed in the book’s opening pages.


The history of the era is fascinating. I enjoyed learning about how Jews re-created Hebrew, and how Muslims preserved and translated Roman Classics. However that enjoyment was muted by what felt  like a constant propagandistic tone that permeates the book.


For example, Maria Rosa Menocal tries very hard to downplay the martyrdom of Christians who protested against the Islamic government. She argues that the Christian martyrs deserved to be killed because they were troublemakers and provocateurs. This position struck me as very morally dubious.


My favorite chapter was the one describing how Maimonides developed Jewish doctrine. He essentially invented Hebrew, using old oral traditions and Spanish Arabic.


Overall, I don’t recommend reading this book alone. It is very biased in favor of the Muslim invaders. I read this book alongside The Myth of the Andalusian Paradise and found it really strange that Maria Rosa Menocal doesn’t address any of the horrors and extremely brutal aspects of the Islamic domination.


I do recommend reading this book along The Myth of the Andalusian Paradise for the sheer polemic value.

When Saint Francis Saved the Church: How a Converted Troubadour Created a Spiritual Vision of the Ages
By Jon M. Sweeney
Published in September 2014
192 Pages
Thibault’s Score: 1/5


After reading The Pope Who Quit by the same author, I decided to give his biography of St. Francis a go. Unlike his biography of Peter of Monroe which just jumps straight into the story, this book is laden down by unnecessary prefaces.


Out of the 4 1/2 hour audiobook, the first hour or so is entirely contained of disclaimers. These include warnings such as “This book will overturn what you learned in Sunday school” and “Saint Francis wasn’t perfect.” If there are more than 10 minutes / 4 pages of disclaimers on a book, I generally give it a bad review (unless its a 1000+ page survey of the Middle Ages by Chris Wickham, then its completely respectable).


For example, he relates a conversation with someone uninterested in history that he had. If someone is reading the book, then you don’t need to sell them on reading history books.


Long disclaimers seem characteristic of pop fiction. I’ve seen many short books where a quarter or half of the book will be nothing but disclaimers.


By the second hour, I still didn’t know the basics of who St. Francis was, so decided to stop listening and move on.

The Pope who Quit
By Jon M. Sweeney
Published February 2012
304 Pages
Thibault’s Score: 3/5


The Pope who quit is a popular history of Pope Celestine V / Peter of Morrone.


Peter of Morrone was a Christian hermit monk and mystic who lived a hard and simple life. Because of papal infighting, he was named pope in 1294. He proved to be an incompetent pope, because he was more concerned with his spiritual life than he was the papacy. He only was pope for a few months until he retired, and died 10 months later.


I really enjoyed reading about the hard and simple life of medieval hermits. The extreme devotional behavior s shocking - displays of fortitude, pain endurance, and rigor.


It is always interesting to learn about the internal politicking and conflicts of the 13th century.


I recommend this book to people studying the Middle Ages. It is an interesting case study that neatly intersects with the rest of my research about the period.

​The Crusades: The Authoritative History of the War for the Holy Land
By Thomas Asbridge
Published in March 2011
784 Pages
Thibault’s Score: 4/5


This “authoritative history” of the crusades is a fairly extensive historical account of all nine Middle Eastern crusades.


I recommend this book, but only to people already interested in the history of the period. The numerous names, events, and details sometimes make it difficult to keep track of who is doing what. That, however, might be something to be expected considering the length and broad scope of the book.


There are many interesting details that really surprised me. For example, I already had a vague notion that the crusaders came as disorganized bands of soldiers from a wide variety of factions. I hadn’t realized the extent to which the crusaders operated in the vacuum of a traditional state or government as we understand it today. Constant internal conflicts, rogue mercenaries, and factionalism plagued the crusaders. During sieges, the army was so insubordinate that besieging generals routinely crated incentive systems for soldiers. In one siege, the besieging general paid soldiers 1 coin per stone from the wall they brought back.


Asbridge also downplays the role of religious fervor, instead highlighting the wide variety of secular interests motivating both sides. His view contrasts that expressed by Jay Rubenstein in “The Armies of Heaven.”


There is a lot of information and mythology about the first, third, and fourth crusades. It is the many other crusades that are less well known. By far, the best thing that this book does, is talk about the other crusades. I had never heard about Louis the 9th’s heroic battles in Egypt, or the cunning Mamluk Bahris.


I recommend this book highly to amateur historians, but do not necessarily recommend it as an introduction to the crusades.

Armies of Heaven: The First Crusade and the Quest for Heaven
By Jay Rubenstein
Published in 2011
424 Pages
Thibault’s Score: 4/5


Armies of Heaven is a narrative account of the First Crusade. What is so interesting about this book is that it doesn’t tell the story of the crusade from the perspective of modern historians, instead it tells it from the perspective of someone at the time hearing about it. For example, it just assumes that all reported miracles are accurate. When witnesses report angels and ghosts, Rubenstein does too.


Prior to reading this book, I had a vague understanding of the First Crusade. I learned a lot about specific people and details I had never heard of before. I particularly liked the story of Peter Bartholomew, a soldier and follower of Peter the Hermit. Peter Bartholomew has visions, and finds the Holy Lance. After finding it, he becomes an important figure in the crusades. Many begin doubting him, so he decides to subject himself to a trial by fire. He dies 12 days after entering the fire.


Because this book is written from such a unique perspective, it gave me many insights into the mindset and ideology of the crusaders. Most crusaders truly believe that the apocalypse was near, and that they were God blessed holy warriors. Even the most seemingly cynical and power hungry crusader lords were forced to play lip service to the Holy War.


Although this book is fairly simple, I do not recommend it for the majority of people. It is, however, a must read for anyone interested in the crusades or Medieval history.