Amazon has introduced a new feature that promises to be more useful than the Statistically Improbable Phrases feature that launched a few months ago. The “SIP” feature finds distinctive phrases inside books and then linked users to other books that contained those same distinctive phrases. For example, Stephen Greenblatt’s Will in the World contains five instances of the distinctive phrase “deer poaching,” which Amazon tells us also appears in several other books, including Deer and Deer Hunting Book 2: Strategies and Tactics for the Advanced Hunter. Amusing, but not terribly useful. Amazon’s new feature, Capitalized Phrases” or “CAPs,” links books by proper names and places, so by clicking on “King Lear” from among the CAPs for Will in the World, you get a list of books that mention “King Lear.” This seems like a potentially very useful research tool – especially if Amazon decides not to limit the results to twenty or so books as they are currently doing. These “phrases” features by Amazon also represent a foray into the relatively new Internet phenomenon of tagging, which sites like del.icio.us use to categorize Web sites. Since the process is external – in the case of del.icio.us, the tags are applied by users – and has a human element to it, sites that employ tagging have the potential to be “smarter” than those that rely on old-fashioned search engines. It will be interesting to see if Amazon begins to allow user submitted tags in addition to its Search Inside a Book data to create a deep and highly intuitive way of organizing its massive inventory.
I won't be posting again until Monday because I'm leaving for Las Vegas tomorrow. I've got plenty of books to read right now (and anyway, I'm not sure if I'll do much reading), but I was wondering what I might pick up if I wanted to do some Vegas-themed reading. The obvious choice is Hunter S. Thompson's Fear and Loathing in Las Vegas, a book that I read years ago and loved, though I prefer some of HST's other books. But, no, that's far to cliched. Or I could read John O'Brien's Leaving Las Vegas, the devastating novel of alcoholism that was turned into an Oscar-winning triumph for Nicolas Cage, but that would be far, far too depressing. A little research reveals that Larry McMurtry wrote a book set in Vegas called The Desert Rose. I've never read McMurtry, so this might be a reason to start. But, as usual, I have a hankering for some non-fiction as well. There happens to be a good, recent book about Vegas called The Money and the Power: The Making of Las Vegas and Its Hold on America by Roger Morris and Sally Denton, which might help explain why we are drawn to this desert fantasyland like so many moths to the flame.
As we adjust to new economic realities, Michael Lewis is emerging as the financial meltdown's most important voice. His Portfolio piece "The End" told us how we got here but it also illuminated his own failure, in the 1980s, to get the point across with his book Liar's Poker. Meant to be a cautionary tale, it became instead an inspiration.But Lewis appears unwilling to let "The End" be his final, confessional comment on the matter. This weekend, as a new year and new administration are gearing up, Lewis has delivered another far more aggressive piece, this time in the New York Times (Part 1, Part 2). In it, he calls out, more strenuously than before, the fraud, incompetence, and willful ignorance behind the financial crisis and makes it clear that this fall's efforts to resolve it were flawed at best. He also makes several direct, clear-eyed proposals to set things back on the right course. One hopes Obama is watching. One also notices that Lewis, in these pieces, is no longer acting as a journalist or even a columnist. He has thrust himself into the center of this issue, as if looking to finish what he tried to accomplish more than 20 years ago.But Lewis has grown up too. Liar's Poker didn't wake up the world to Wall Street's ills because its tone was too glib and too incredulous. We were meant to marvel at the goings on at Solomon Brothers just as the young Lewis had. That tone is gone now, and Lewis has returned to the task with a fierce seriousness. Whether or not you agree with everything that Lewis is writing in these pieces, his tone, backed up by his more than 30 years of writing about Wall Street, will give even the most optimistic observers pause.Interestingly, Lewis' co-author for the two New York Times pieces is David Einhorn, a hedge fund manager who doesn't exactly have a pristine reputation. Einhorn heads up Greenlight Capital, which racked up average annualized returns of 25.5% from May 1996 through mid-2008, according to New York Times, though his funds, like many on Wall Street, have struggled since. He's also a serious poker player. In 2006, he placed 18th in the World Series of Poker's main event, winning more than $650 thousand that he donated to charity.Einhorn made headlines this year for his very vocal bearish stance on now defunct investment bank Lehman Brothers. Einhorn eventually went public with discrepancies that he and his analysts had found in Lehman's numbers. Believed to be short (i.e. placing bets that the stock would go down) Lehman and other financial names, Einhorn was excoriated in a war of words on Wall Street as regulators targeted short selling among financial stocks. Lewis and Einhorn make it clear where they stand on that issue, calling short sellers, "the only market players who have a financial incentive to expose fraud and abuse."After much confusion as the crisis played out in 2008, it may be that we are seeing whistle-blowers like Lewis and Einhorn emerge from the mess to take control of the discussion. In time we will see if they have the ear anyone in power.
Following up on Monday's post, as it turns out, that missing issue of the New Yorker turned up (bearing a paper jacket reminding me to renew and sporting a torn cover) a day after this week's issue landed in the mailbox. So it appears as though I won't be skipping an issue after all. Luckily for me, I'm going on vacation for a few days, and I'm hoping this will afford me some time to catch up. (Incidentally, you can expect The Millions to go dark through Sunday while we take a break.)
Here are some more books coming our wayBack when I worked at the bookstore, Elizabeth Crane's When the Messenger is Hot was one of the books my coworkers liked to evangelize about. Read "The Daves" and you'll see why. Crane has a new collection of stories coming out in a couple of weeks called All This Heavenly Glory. Here's one of the stories from the new collection, an amusing take on the personal ad which becomes much more impressive when you realize that the whole long piece is one sentence (unless you think using semi-colons is cheating). Three other reasons to like Elizabeth Crane: She lives in Chicago, the city I currently call home. She was interviewed in Tap: Chicago's Bar Journal. She has a charming, unassuming blog called - for reasons I cannot discern - standby_bert.You may recognize the name Achmat Dangor because his novel of apartheid and its aftermath, Bitter Fruit, was shortlisted for a Booker Prize in 2004. Although the South African novelist missed out on any Booker boost his novel might have received here in the States, the book, which hits shelves soon, will likely garner some prominent reviews. In the meantime, here's an interesting piece by Dangor about South African literature from the Guardian, and here's a brief excerpt from Bitter Fruit.Alicia Erian's debut collection of stories from 2001, The Brutal Language of Love was described as "seductive, erotic, smart and tartly humorous" by Publishers Weekly. Now Erian is returning with her first novel, Towelhead, a contemporary coming-of-age story about a half-Lebanese girl who moves to Texas to live with her strict father. The novel's title comes from the epithet she hears from other residents of her less than enlightened suburb near Houston. A long - and very compelling - excerpt of the book is available here. And for a different taste of Erian's writing, try this story from 2000 in the Barcelona Review.In 2002's Insect Dreams: The Half Life of Gregor Samsa, Marc Estrin conjured up a second life for Kafka's transmogrified protagonist. In his new novel, The Education of Arnold Hitler, Estrin wonders: what's in a name? Saddled with an unfortunate surname, Arnold is at the mercy of preconceived notions and receives the attention of many unsavory characters. A brief excerpt is available here. Estrin also has a blog that is in its infancy.Look for more upcoming books in this space over the next few days.
● ● ●