More Money Than God

by Sebastian Mallaby

This is an eBook that you can download electronically.

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.
SKU: 9781408816813 Format: EPUB
KES 2,337
International delivery
Free click & collect
When you buy an ebook from TBC, you will be given a code to download your purchase from our ebook partner Snapplify. After you have redeemed the code and associated it with a Snapplify account, you'll need to download the Snapplify Reader to read your ebooks. The free Snapplify Reader app works across iOS, Android, Chrome OS, Windows and macOS; on tablets and mobile devices, as well as on desktop PCs and Apple Macs.

You're currently browsing Text Book Centre's digital books site. To browse our range of physical books as well as a wide selection of stationery, art supplies, electronics and more, visit our main site at textbookcentre.com!

Reviews

This product does not have any reviews yet.

Add your review