Book Review: Cowboy Ethics
02.10.10
Cowboy Ethics: What Wall Street Can Learn from the Code of the West.
James P. Owen with photographs by David R. Stoecklein. Stoecklein Publishing and Photography. 82p. ISBN: 1-931153-95-7
By Judy Bowmaster, Nebraska College of Technical Agriculture
When I first heard about this book I was interested. For any of us who have met a true cowboy or who belong to a family of cowboys (and cowgirls), the words and images of this book are very familiar. I personally post Roy Rogers’ list of “10 Rules for Riders” on my office door. James P. Owen’s own list of ten principles, “The Code of the West”, are pretty close. For example, Owen’s Rule #1, “Live each day with courage” sounds a lot like Roy’s Rule #5, “Be brave.” James P. Owen’s lifelong interest in the Old West became a source of inspiration that he hopes to incorporate into the investment management industry. I know-you’re thinking, “Hold on Partner!” Investment management industry? How does this all fit? It turns out, it fits quite well.
In recent years, Wall Street has been exposed in long lists of damaging misconduct and unethical behaviors, resulting in a crisis for the industry and a floodtide of new regulations… all because individuals and corporations failed to do “what’s right.” James P. Owen reminds us of “what IS right.” He also reminds us that doing the right thing is simple-it’s just not always easy. And by the way, he’s not just talking to the business folks, he’s talking to all of us.
With the genius of combination, James Owen’s thoughtful words and David R. Stoecklein’s revealing photographs serve as a successful expression of the “Code of the West.” In James P. Owen’s words, “This book is intended as the catalyst for a movement to transform the industry-not with the carrot and stick, but from the inside out-one person, firm and organization at a time.” He has created an entire curriculum based on “the Code.” Industry leaders are seeking him out for mentoring.
This is a book worth owning. The words ring true and the pictures are indescribable. I purchased this book along with Owen’s book Cowboy Values: Recapturing What America Once Stood For,as a birthday gift for my husband. He’s a cowboy, too. He already knew all this.
UUUU, 4 Horseshoes out of 5.




