Just a quick post to recommend John Coates’ excellent book, “The Hour Between Dog and Wolf” (Penguin, 2012). Coates is a former Goldman Sachs derivatives trader who has gone on to become a neuroscientist at Cambridge. His book has both an original and compelling topic, namely, the biological foundations and dynamics of risk. I can say that I have never come across this subject before in such a thorough treatment and Coates’ style is engaging and clear. The book is a bit light on the science and more on the social impact of his (and others’ discoveries) but it’s worth the read if only for his great descriptions of moment by moment life as a trader on a bad day.

Bottom Line: Bulls: Get it for an original analysis of a too-little discussed topic. Bears: Not enough science and has moments when he gets a bit too carried away with his fascination of an admittedly original topic.


Posted by Carlos Alvarenga

Carlos A. Alvarenga is an Adjunct Professor in the Logistics, Business and Public Policy Department at the University of Maryland’s Robert E. Smith School of Business.

One Comment

  1. […] For an interesting take on the rush of working on a trading desk, see my review of John Coates’ The Hour Between Dog and Wolf ( […]


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