The Alchemy of Finance: Reading the Mind of the Market - Hardcover

Soros, George

3.74

4,177 ratings by Goodreads

9780297793311: The Alchemy of Finance: Reading the Mind of the Market

Hardcover

ISBN 10: 0297793314 ISBN 13: 9780297793311

Publisher: Weidenfeld & Nicolson, 1988

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Chapter 1 covers the Theory of Reflexivity, centering on the "alchemy" of modeling social systems. This chapter comes from strong philosophical foundations (e.g. Popper) on the bridge to science. The rest of the chapters will be of greater interest to those centered in finance or economic policy. Alchemy of Finance, I put forward the theory of reflexivity as if it were relevant at all times. That is true in the sense that the two-way feedback mechanism that is the hallmark of reflexivity can come into play at any time, but it is not true in the sense that it is at play at all times. In fact, in most situations it is so feeble that it can be safely ignored. We may distinguish between near-equilibrium conditions where certain corrective mechanisms prevent perceptions and reality from drifting...‎

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Review:

contains a detailed description of his trading methods and repays careful reading. ( Investors Chronicle, 1st April 2005)

these updated classics are packed with investment wisdom (What Investment, November 2003)

From the Back Cover:

Critical Praise . . .

"The Alchemy joins Reminiscences of a Stock Operator as a timeless instructional guide of the marketplace." – Paul Tudor Jones from the Foreword

"An extraordinary . . . inside look into the decision–making process of the most successful money manager of our time. Fantastic."– The Wall Street Journal

"A breathtakingly brilliant book. Soros is one of the core of masters . . . who can actually begin to digest the astonishing complexity . . . of the game of finance in recent years."– Esquire

"A seminal investment book . . . it should be read, underlined, and thought about page–by–page, concept–by–idea. . . . He′s the best pure investor ever . . . probably the finest analyst of the world in our time." – Barton M. Biggs, Morgan Stanley

George Soros is unquestionably the most powerful and profitable investor in the world today. Dubbed by BusinessWeek as "The Man Who Moves Markets," Soros has made a billion dollars going up against the British pound. Soros is not merely a man of finance, but a thinker to reckon with as well. Now, in The Alchemy of Finance, this extraordinary man reveals the investment strategies that have made him "a superstar among money managers" (The New York Times).

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