Dead Companies Walking: How a Hedge Fund Manager Finds Opportunity in Unexpected Places

Hedge fund manager Fearon shares his take on why companies fail in this surprisingly entertaining mix of business guide and memoir. Fearon, now exceptionally successful, isn’t shy about revealing some of his financial missteps, the earliest being in the summer following his graduation from Northwestern University, when he started a job in Houston just as the oil industry crashed. But, as he insists, his mistakes—and his observation of others’—have helped him recognize key warning signs of a company about to tank. Fearon also identifies such common errors as viewing the “recent past” as “history,” “confusing formulas with good decision making,” and “confusing your own tastes for the tastes of your customer.” His entertaining tales of the business world include notable failures with inline skating investments, NordicTrack, and Blockbuster, paired with success stories like Zale Corporation and International Gaming Technology. And he isn’t afraid to dish about the many nefarious people and companies he’s encountered during his career in the financial industry. The final takeaway of this spirited book is that “learning to love failure all over again” can help America recover the adventurous spirit that Fearon believes our economy needs. (Jan.)