I Sold Andy Warhol (Too Soon)
Richard Polsky; translated by Bae Eun-kyoung; Artbooks: 368 pp., 16,000 won
Pop art dealer Richard Polsky’s “I Sold Andy Warhol (Too Soon)” provides interesting insight into the art market, especially auctions.
For 12 years he sought to possess an Andy Warhol painting and finally got his hands on a green version of “Fright Wig” in 2002. The process was elaborated on in his previous book “I Bought Andy Warhol.”
Polsky decided to auction his beloved “Fright Wig” in 2005, in an attempt to turn a profit in the booming art market. In just three years the price of his Warhol piece jumped from $47,500 to $375,000 and he seemed satisfied. However, this feeling didn’t last long, as the price of Warhol’s paintings skyrocketed to eventually be worth millions in the robust art market.
The author explicates what happens behind the auctions and how power shifted from galleries to auction companies before the market collapsed due to the global financial crisis in 2008. He also discusses ways of finding and purchasing affordable artwork in the art market in which the rich dominate.
— KWON MEE-YOO
Warren Buffett Invests Like a Girl: And Why You Should, Too
LouAnn Lofton; translated by Lee Jong-ho; Seoul Cultural Publisher: 236pp., 15,000 won
Boys will be boys, but the author asks male investors to fight their deep-rooted temperaments and try to become more like their female counterparts.
Both a tribute to Warren Buffett and a guideline for investors on making wise investment choices, Lofton says that the Wall Street legend’s success is due to his “feminine” qualities.
The author shows studies conducted by researchers that outline characteristics of female investors such as being more cautious, less vulnerable to peer pressure and less risk-taking. This ultimately combines to make them more likely to see more profit than males, who are just the opposite.
She cites the 2008 financial crisis in the United States as an example, showing how investors lost their cool and withdrew their investments while Buffett kept his composure to actually make more money.
Ultimately, Lofton says the general belief that for high gains one must take more risks is flawed; in the long term, it is always better to play it safe, while not withdrawing invests brashly.
Filled with anecdotes and amusing details (like its playful title), the book is both entertaining and educational.
— CHO MU-HYUN
Lula of Brazil: The Story So Far
Richard Bourne; translated by Park Won-bok; Gloyen: 424 pp., 15,000 won
During his eight-year term as president of Brazil between January 2003 and December 2010, Luiz Inacio Lula da Silva, better known as “Lula,” was one of the most intriguing heads of state in the world, credited for turning around Brazil’s struggling economy and increasing its international political clout.
Bourne, a researcher at the University of London’s Institute of Commonwealth Studies, published the original version of this first English-language biography of Lula in 2009, and now it comes to the Korean readers thanks to the faultless translation by Park Won-bok.
Well-researched, supported by exciting anecdotes and interesting factual data, it is a must-read for those people interested in contemporary Brazil.
The author has a slightly positive slant on the former president, especially in the analysis of his legacy. Brazil has made impressive strides, but inflation and investment in infrastructure remain some of the most critical problems it faces today.
— KWAAK JE-YUP
Steal, learn and master!
Lee Jong-tak; Humancube: 360 pp., 16,000 won
Currently there are quite a large number of mentors and those who claim to be mentors themselves here in Korea. As younger people in their 20s have become tired of the worry and anxiety in their lives, they have started to listen to the advice and words of comfort from counsellors.
This book, written by the publishing director of the Kyunghyang Shinmun, introduces 16 intellectuals in Korea including politician Moon Jae-in, professor and businessman Ahn Chul-soo and Park Won-soon, the Mayor of Seoul. It covers an analysis of the turning points in their lives through interviews. Readers will find advice on ways to achieve success, find happiness, maintain hope and nurture passion. The book will pave the way for a change in one’s life.
— RACHEL LEE