Changing The World One Mistake At A Time: The Work Of The Library Of Mistakes

“All the business of war, and indeed all the business of life, is to endeavour to find out what you don't know by what you do; that's what I called guessing what was at the other side of the hill." The Duke of Wellington.

The Library of Mistakes exists to further the study of human decision making under uncertainty through the study of history- primarily financial history. Those who guess what is on ‘the other side of the hill’ often get it wrong and for the same reasons that their ancestors got it wrong. Perhaps in our common errors we can found a common discipline that involves economics, history, philosophy, psychology, sociology and more? In an age when ones and zeroes seemingly become dominant it is also evident that they explain less about how our economies actually work than the high priests of the binary assert. To the distilled product of ones and zeroes the Library of Mistakes seeks to add back everything else that while it cannot necessarily be counted still counts. Join Russell Napier , Keeper of The Library of Mistakes, for a trip through the world of mistakes that are , perhaps more than we would care to admit, all, well at least some, of ‘the business of life.’


Professor Russell Napier is author of The Solid Ground investment report for institutional investors and co-founder of the investment research portal ERIC- a business he now co-owns with D.C. Thomson. Russell has worked in the investment business for over 30 years and has been advising global institutional investors on asset allocation since 1995. Russell is author of the book Anatomy of The Bear: Lessons From Wall Street’s Four Great Bottoms (‘a cult classic’ according to the FT) and is founder and course director of The Practical History of Financial Markets at The Edinburgh Business School.

Russell is chairman of the Mid Wynd International Investment Trust a closed end investment vehicle listed on the London Stock Exchange. He is a member of the investment advisory committees of two fund management companies, Cerno Capital and Kennox Asset Management.

In 2014 Russell founded the charitable venture The Library of Mistakes a business and financial history library in Edinburgh that now has branches in India and Switzerland.

Russell has degrees in law from Queen’s University Belfast and Magdalene College Cambridge. He is a Fellow of The CFA Society of the UK and is an Honorary Professor at both Heriot-Watt University and The University of Stirling. He also writes a regular monthly column for The Toronto Star newspaper. His second book which covers the events of the Asian financial crisis and the lessons to be learned from it is due to be published in summer 2021. His investment research is also available for sale to the public at .

Thursday, 10 June 2021

16:00 - 16:45 GMT


Book Now Add To Calendar

Share this event on social media:

  • russell napier.jpeg
    Russell Napier
    Mid Wynd International Investment Trust
  • michael Mainelli.png
    Professor Michael Mainelli
    Executive Chairman
    Z/Yen Group