I love reading financial history and analysis. If you dig through the site archives, you will find reviews to many books that would bore most individuals. Not me. I love the stuff. So when John Mauldin recently praised a book on the history of sovereign debt defaults and financial crises, I knew I had to buy it.
This Time Is Different: Eight Centuries of Financial Folly by Carmen M. Reinhart and Kenneth S. Rogoff is a collection of amazing research on eight centuries of global financial data. I am humbled by the depth of the research in this book. However, the writing was extremely dry and purely academic. The authors took a topic that I adore and made it insufferable.
Michael Lewis, John Mauldin, and Roger Lowenstein are all excellent financial researchers and they happen to be engaging writers. It can be done. The writers of This Time Is Different earned my trust with their research but failed on analysis. This Time Is Different will certainly be used as a reference for better financial writers in the future.