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Strategy + Business Picks Riches Among the Ruins as Top Book 2009

Booz Allen Hamilton's ezine, Strategy + Business, selects a series of books each year as the top volumes in areas like management, trade and globalization. This year, Riches Among the Ruins was featured as one of the best books about the latter category.

Check out the review below

Parag and Ayesha Khanna had this to say:

 Smith, the founder and managing director of the Turan Corporation, which specializes in emerging-market sovereign debt, takes us on a tour of places where he says you have to “hold on to your wallet and your life”: El Salvador, Guatemala, Iraq, Nigeria, Russia, Turkey, and Vietnam.

In the 1970s and ’80s, before dollarization and Bloomberg terminals, sovereign debt–trading middlemen like Smith relied on chutzpah and instinct to determine bond prices and find trusted money changers. For such financial swashbucklers, understanding people was as important as, if not more important than, understanding markets. Clearly, improvisation was Smith’s greatest gift: He carried large volumes of cash internationally, set up local holding companies to collect debts, and sent alias-named proxy lawyers to scout for contacts and information — anything to get the job done.