Items related to More Money Than God: Hedge Funds and the Making of...
Wealthy, powerful, and potentially dangerous, hedge-find managers have emerged as the stars of twenty-first century capitalism. Based on unprecedented access to the industry, "More Money Than God" provides the first authoritative history of hedge funds. This is the inside story of their origins in the 1960s and 1970s, their explosive battles with central banks in the 1980s and 1990s, and finally their role in the financial crisis of 2007-9. Hedge funds reward risk takers, so they tend to attract larger-than-life personalities. Jim Simons began life as a code-breaker and mathematician, co-authoring a paper on theoretical geometry that led to breakthroughs in string theory. Ken Griffin started out trading convertible bonds from his Harvard dorm room. Paul Tudor Jones happily declared that a 1929-style crash would be 'total rock-and-roll' for him. Michael Steinhardt was capable of reducing underlings to sobs. 'All I want to do is kill myself', one said. 'Can I watch?' Steinhardt responded. A saga of riches and rich egos, this is also a history of discovery. Drawing on insights from mathematics, economics and psychology to crack the mysteries of the market, hedge funds have transformed the world, spawning new markets in exotic financial instruments and rewriting the rules of capitalism. And while major banks, brokers, home lenders, insurers and money market funds failed or were bailed out during the crisis of 2007-9, the hedge-fund industry survived the test, proving that money can be successfully managed without taxpayer safety nets. Anybody pondering fixes to the financial system could usefully start here: the future of finance lies in the history of hedge funds.
"synopsis" may belong to another edition of this title.
Review:
More Money than God shines a fascinating light on what is still the most obscure route to becoming a billionaire... --Roger Lowenstein, author of The End of Wall Street
Sebastian Mallaby takes us into the secretive world of hedge funds and the result is a wonderful story and an education in finance. --Fareed Zakaria, author of The Post American World
...crackling good read. --Dr. Alan S. Blinder, Professor of Economics, Princeton University, and Former Vice Chairman, Federal Reserve
A fascinating history. Mallaby combines vivid description of key personalities and episodes with thoughtful discussion ...
--John Y. Campbell, Chairman of the Department of Economics, Harvard University, and Partner, Arrowstreet Capital
Journalist Mallaby (The World's Banker) gives unusually lucid explanations of hedge funds and their balancing of long and short positions with complex derivatives, but what really entrances him is their freedom from regulation, high leverage, and outsized performance incentives. In his telling, they empower a heroic breed of fund managers whose inspired stock picking, currency trading, and futures contracting outsmart the efficient market. In engrossing accounts of epic trades like George Soros's 1993 shorting of the pound sterling and John Paulson's shorting of subprime mortgages, the author celebrates hedge titans' charisma, contrarianism, and market insights. Mallaby contends that hedge funds benefit the economy by correcting market anomalies; because they put managers' money on the line and are small enough to fail, they are more prudent and less disruptive than heavily regulated banks. Mallaby's enthusiasm for an old-school capitalism of unfettered risk taking isn't always persuasive, but he does offer a penetrating look into a shadowy corner of high finance. (June)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
--Publishers Weekly
`An enormously satisfying book: a gripping chronicle of the cutting edge of the financial markets and a fascinating perspective on what was going on in these shadowy institutions as the crash hit' --Observer
`A splendid account of the ups and downs of an industry in which few of the twenty-something hedge-fund wannabes know their history. They, and meddling politicians, should read this book before they are condemned to repeat it' --Financial Times
`A superbly researched history of hedge-fund heroes stretching back to the 1950s, it is a fascinating tale of the contrarian and cerebral misfits who created successful, flexible businesses in an otherwise conventional financial world'
--Economist
Book Description:
Sebastian Mallaby takes us into the secretive world of hedge funds and the result is a wonderful story and an education in finance. --Fareed Zakaria, author of The Post American World
...crackling good read. --Dr. Alan S. Blinder, Professor of Economics, Princeton University, and Former Vice Chairman, Federal Reserve
A fascinating history. Mallaby combines vivid description of key personalities and episodes with thoughtful discussion ...
--John Y. Campbell, Chairman of the Department of Economics, Harvard University, and Partner, Arrowstreet Capital
Journalist Mallaby (The World's Banker) gives unusually lucid explanations of hedge funds and their balancing of long and short positions with complex derivatives, but what really entrances him is their freedom from regulation, high leverage, and outsized performance incentives. In his telling, they empower a heroic breed of fund managers whose inspired stock picking, currency trading, and futures contracting outsmart the efficient market. In engrossing accounts of epic trades like George Soros's 1993 shorting of the pound sterling and John Paulson's shorting of subprime mortgages, the author celebrates hedge titans' charisma, contrarianism, and market insights. Mallaby contends that hedge funds benefit the economy by correcting market anomalies; because they put managers' money on the line and are small enough to fail, they are more prudent and less disruptive than heavily regulated banks. Mallaby's enthusiasm for an old-school capitalism of unfettered risk taking isn't always persuasive, but he does offer a penetrating look into a shadowy corner of high finance. (June)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
--Publishers Weekly
`An enormously satisfying book: a gripping chronicle of the cutting edge of the financial markets and a fascinating perspective on what was going on in these shadowy institutions as the crash hit' --Observer
`A splendid account of the ups and downs of an industry in which few of the twenty-something hedge-fund wannabes know their history. They, and meddling politicians, should read this book before they are condemned to repeat it' --Financial Times
`A superbly researched history of hedge-fund heroes stretching back to the 1950s, it is a fascinating tale of the contrarian and cerebral misfits who created successful, flexible businesses in an otherwise conventional financial world'
--Economist
The first book of its kind: a fascinating and entertaining examination of hedge funds today
Shortlisted for the Financial Times/Goldman Sachs Business Book of the Year Award
The New York Times bestseller
Shortlisted for the Financial Times/Goldman Sachs Business Book of the Year Award
The New York Times bestseller
"About this title" may belong to another edition of this title.
- PublisherBloomsbury Publishing PLC
- Publication date2010
- ISBN 10 0747592276
- ISBN 13 9780747592273
- BindingHardcover
- Number of pages496
- Rating
Other Popular Editions of the Same Title
Top Search Results from the AbeBooks Marketplace
Stock Image
More Money Than God: Hedge Funds and the Making of the New Elite
Published by
Bloomsbury Publishing PLC
ISBN 10: 0747592276
ISBN 13: 9780747592273
Used
Hardcover
Quantity: 1
Seller:
Rating
Book Description Befriedigend/Good: Durchschnittlich erhaltenes Buch bzw. Schutzumschlag mit Gebrauchsspuren, aber vollständigen Seiten. / Describes the average WORN book or dust jacket that has all the pages present. Seller Inventory # M00747592276-G
Buy Used
£ 12.10
Convert currency