Product Description

A examination of hedge funds.

Product Details

• Amazon Sales Rank: #110634 in Books
• Published on: 2010-06-07
• Original language: English
• Binding: Hardcover
• 496 pages

Features

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• Mint Condition
• Dispatch same day for order received before 12 noon
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• No quibbles returns

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

About the Author
Sebastian Mallaby is the Paul Volcker Senior Fellow in International Economics at the Council on Foreign Relations and a Washington Post columnist. He spent thirteen years on The Economist, covering international finance in London and serving as bureau chief in Southern Africa, Japan and Washington. From 1999 to 2007 he was a member of the editorial board of the Washington Post, focusing on globalization and political economy. His previous books are The World's Banker, which was named as an Editor's Choice by the New York Times, and After Apartheid, which was a New York Times Notable Book. He lives in Washington with his wife, Zanny Minton Beddoes, the economics editor of the Economist.