The Match King: Ivar Kreuger, the Financial Genius Behind a Century of Wall Street Scandals by Frank Partnoy, PublicAffairs, 272 Pages, $26. 95, Hardcover, April 2009, ISBN 9781586487430
When reading The Smartest Guys in the Room, the outstanding book by Bethany McLean that looks into the Enron debacle, you will learn about an accounting term called “mark to market. ” Not being an accountant, my simplified understanding of the concept is that when you purchase a product for $100 and you believe you can sell the product for $200 in five years, you put the sale price on your books at the expected selling price instead of the actual purchase price.
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