The ultimate origin of this book lies on a squash court in New Haven. After an exhausting and gruelling squash match against a formidable competitor, I sought his advice. “I'd like to put my PhD to work and perhaps teach a course here at Yale. What do you think?” His response set the wheels in motion: “I think it's a great idea! See if you can teach it as a college seminar.” So it is that I must begin by thanking David Swensen for his encouragement and support in teaching a class at Yale. David is a fierce competitor, a loyal Yalie, a caring mentor, and overall class act. I feel extraordinarily lucky to have him as a friend. A course does not, however, a book make. Charley Ellis encouraged me to convert the course into a book and provided numerous introductions to facilitate its publication. Without his guidance and help, this book would not have been written.

I thank the many students I have had the pleasure of teaching. Over the course of my graduate education and subsequent years of teaching, I have met no group of students more motivated, insightful, intelligent, and analytical than the undergraduates at both Yale and Harvard. They are, simply put, an absolute pleasure to teach because they exhibit natural curiosity, analytical rigor, and intellectual honesty. They have challenged me to think about this material more deeply and have helped refine my thinking.

My graduate education at MIT was an amazing experience that opened my eyes to a new way of thinking. I am particularly thankful to Michael Cusumano, my dissertation committee chair, for his patience as I wandered between academic and non-academic pursuits. Professor Harvey Sapolsky of the Security Studies Program was a constant friend and mentor.

From a professional perspective, I have had the pleasure of working with many great people over the past 25 years. Several have left major imprints on my way of thinking and have indirectly influenced the work presented here. There are way too many to mention specifically. I want to explicitly thank Hank Blaustein for rapidly and creatively capturing the spirit of the “naked emperor” identified by the Boombustology analyst in a fabulous cartoon. Brendan Coffey deserves special mention as a collaborator who assisted me with many of the updates captured in this second edition, and I’m grateful for the research support provided by my colleague Lily Jampol-Auerbach. My parents, Shobha and Vishnu Mansharamani, deserve special thanks. Without their sacrifices (financial and otherwise), I likely would not have had the opportunities in life that I have had.

Any working professional with a young family knows that time is scarce. It should therefore come as no surprise that my greatest debt of gratitude is to my family for their support in providing the time to write this book. Special acknowledgment is owed to my wife, Kristen Hanisch Mansharamani, who has tirelessly read every word. Her editorial capabilities have been tested repeatedly, initially through the writing of three graduate theses, and now through a book. Her dedication and commitment were steadfast.

Finally, I want to thank the editorial staff at John Wiley & Sons for their persevering attention to detail and their unwavering commitment to my efforts, inconsistent as they may have been.