Book Review-Jack Patel's Dubai Dreams

I saw something on the back of the book that called bankers 'bangers' (in Malluspeak) and that piqued my interest in this one. And it turned out to be a really good read. I suspect it is partly autobiographical, or sounds like it. The characters are all very real, the Indians, Americans and the rest.

 The story is narrated from the viewpoint of a private banker living in Dubai. I learnt a lot about the world of private banking/investment banking after reading it. Finance is not my forte, and I understand very little of what goes on in the big, bad world of multi-million dollar investments. Well, now I know a couple of percentage points more.

But this is a well-told story of the pre-2008 and post- 2008 world (and Kenya where Obama's family comes from), and it gave me the following insights-

  • Kenyans call snacks 'bitings'.
  • There isn't much difference between a lottery and investments that he are speculative, whatever may be the instrument or investment class.
  • Dubai is a potential bubble like anyplace else.
  • Grandmothers knew a thing or two about investing/saving.
  • The U.S. survives on hype and marketing, because others can't match it on these.
  • Any other country can catch up if it's serious about doing so.

I enjoyed reading it.

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