What We Are Reading Today: Our Great Purpose by Ryan Patrick Hanley

Updated 18 September 2019

What We Are Reading Today: Our Great Purpose by Ryan Patrick Hanley

Adam Smith is best known today as the founder of modern economics, but he was also an uncommonly brilliant philosopher who was especially interested in the perennial question of how to live a good life. 

Our Great Purpose is a short and illuminating guide to Smith’s incomparable wisdom on how to live well, written by one of today’s leading Smith scholars, says a review on the Princeton University Press website.

In this inspiring and entertaining book, Ryan Patrick Hanley describes Smith’s vision of “the excellent and praiseworthy character,” and draws on the philosopher’s writings to show how each of us can go about developing one. For Smith, an excellent character is distinguished by qualities such as prudence, self-command, justice, and benevolence — virtues that have been extolled since antiquity. 

Yet Smith wrote not for the ancient polis but for the world of market society — our world — which rewards self-interest more than virtue. Hanley shows how Smith set forth a vision of the worthy life that is uniquely suited to us today.


What We Are Reading Today: Quantitative Management of Bond Portfolios

Updated 29 May 2020

What We Are Reading Today: Quantitative Management of Bond Portfolios

Authors: Lev Dynkin, Anthony Gould, Jay Hyman, Vadim Konstantinovsky and Bruce Phelps

The practice of institutional bond portfolio management has changed markedly since the late 1980s in response to new financial instruments, investment methodologies, and improved analytics. Investors are looking for a more disciplined, quantitative approach to asset management. Here, 5 top authorities from a leading Wall Street firm provide practical solutions and feasible methodologies based on investor inquiries. 

While taking a quantitative approach, they avoid complex mathematical derivations, making the book accessible to a wide audience, including portfolio managers, plan sponsors, research analysts, risk managers, academics, students, and anyone interested in bond portfolio management.

The book covers a range of subjects of concern to fixed-income portfolio managers — investment style, benchmark replication and customization, managing credit and mortgage portfolios, managing central bank reserves, and risk optimization.