The Vandals' Crown is the extraordinary story of an elite group of private investors who are remaking the face of international finance. Millman paints a vivid picture of these new revolutionaries, both the famous and the unknown. His book is both a fascinating group biography and an important chapter in modern financial history.
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Millman is a writer who has covered the financial markets for eight years for such publications as Forbes, Barron's, and Institutional Investor. His interest here is in two new investment tools that have created convulsions in the worldwide financial community: foreign exchange currency trades and derivatives. Both techniques are quite sophisticated and little understood even by government watchdogs and major financial corporations, but Millman does his best to make this story accessible to the general reader. The bulk of his book focuses on the European currency exchange-rate mechanism. He provides a history of how the competing forces of government and financial interests led to the monetary system that was brought down during the European currency crisis of September 1992 by speculators like George Soros, who made $2 billion in one day. Millman also profiles speculators who have engaged in high-risk transactions using financial derivatives but whose activities never came to light until they had suffered huge losses. David RouseFrom Library Journal:
The 1990s have been the most turbulent years in the history of international finance. A war is going on, says Millman, a "secret revolution" of the currency markets that is akin to the discovery of nuclear power. The invention of currency options and derivatives has allowed currency traders to conquer world markets "like the vandals who conquered Rome's empire." Millman, who has written for Forbes and Barron's, endeavors to explain complex concepts in plain language. First he surveys the long struggle between governments and private markets to control money. Then he explains how corporations trade currencies and the risks involved. He also tells dozens of colorful anecdotes that illustrate his points more vividly than a textbook ever could. This is a history lesson, a finance class, and an entertaining read rolled up in one. Recommended for business collections.?Kris Swank, American Graduate Sch. of Internat. Management Lib., Glendale, Ariz.
Copyright 1995 Reed Business Information, Inc.
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Book Description The Free Press, LoCo1, 1995. Hardcover. Book Condition: New. ISBN: 0029212871; Hardback/dust jacket remainder, new. Bookseller Inventory # 25437
Book Description Free Press, 1995. Hardcover. Book Condition: New. Bookseller Inventory # DADAX0029212871
Book Description Free Press, 1995. Hardcover. Book Condition: New. book. Bookseller Inventory # M0029212871
Book Description Free Press, 1995. Hardcover. Book Condition: New. Never used!. Bookseller Inventory # P110029212871
Book Description Free Press. Hardcover. Book Condition: New. 0029212871 New Condition. Bookseller Inventory # NEW7.0004343