Stephen R. Foerster
Trailblazers, Heroes, and Crooks
Some of the stories in this book include:
- Cristiano Ronaldo taking two bottles of Coke off a table at a press conference, and ostensibly causing Coca-Cola’s stock value to plunge $4 billion
- Harry Markopolos trying to develop a strategy similar to Bernie Madoff’s, realizing his strategy was bogus, and spending a decade proving his case
- A hostage crisis in twelfth century Venice involving trumped-up charges, conflict, deceit, a plague, and an angry mob, leading to the birth of government bonds
- A salad oil swindle almost destroying American Express, prompting Warren Buffett to make one of the best stock investments ever
For both experienced and novice investors, Trailblazers, Heroes, and Crooks: Stories to Make You a Smarter is a fun, accessible, and informative guide that through history shows, not tells, you how to develop an investment philosophy of guiding principles, and become a better investor.
AWARD-WINNING Author
Stephen R. Foerster
Other Books, Blogs, and Projects
In Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest
This book, co-authored with MIT’s Andrew Lo, features ten investment luminaries including six Nobel laureates. It traces the history of Modern Portfolio Theory. Silver Medal winner, Axiom Business Awards, Personal Finance.
Financial Management: Concepts and Applications
This popular introductory corporate finance textbook is being updated for publication in 2025, with a new coauthor, Felipe Restrepo — stay tuned for more details.
The Perfect Portfolio Investing Blog
Since 2021, Stephen Foerster has written over 50 blogs on his medium.com site. Topics include investing concepts, investing philosophy, economics, stocks, bonds, cryptocurrency, and general interest.
William F. Sharpe Biography
Stephen Foerster is currently writing an authorized biography of William F. Sharpe, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1990. Expected publication in 2026.
Trailblazers book: Endorsements
Being a good investor entails doing the right things and avoiding errors. This delightfully written romp through some of the bogus promises and spectacular frauds from Roman times to the present, will help investors steer clear of the common blunders that can ruin any investment plan.
– Burton G. Malkiel, best-selling author of A Random Walk Down Wall Street, 50th anniversary edition, 2023
If you like to have fun and learn great lessons at the same time, this wonderful book is for you. Every beginner should start here. Every veteran will enjoy the accuracy of the great stories well told. All investors will benefit from the important life lessons that Steve Foerster reveals in story after story in this delightful collection.
– Charley Ellis, best-selling author of Winning the Loser’s Game
A fun and enjoyable compilation of investment stories, packed with practical insights, for students to the most seasoned investors, to become smarter investors. Trailblazers, Heroes and Crooks will become a go-to book to gift to family, friends and colleagues, to give them an entertaining read on investment philosophies and lessons learned from heroes to crooks throughout history. Loved it!
– Nicole Musicco, former chief investment officer at CalPERS
Trailblazers book: Book reviews
Stephen Foerster extracts lessons from exceptional episodes in financial history that ordinary investors and seasoned professionals alike can put to profitable use. The bonus is that Trailblazers, Heroes, and Crooks is immensely entertaining from start to finish.
– Marty Fridson, chief investment officer of Lehmann, Livian, Fridson
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