More Money Than God: Hedge Fun...

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Description

Wealthy, powerful and potentially dangerous, hedge fund moguls have become the It Boys of twenty-first century capitalism, succeeding the leveraged-buyouts barons of the 1980s and the dot-com wizards of the nineties. Their weekend mansions are doffer for Vanity Fair photographers; their potential to cause chaos preoccupied authorities even before the recent financial cataclysm. Based on unprecendented access to the industry, including three hundred hours of interveiws and binders of internal documents, “More Money Than God” provides the first authoritative history of hedge funds, telling the inside story of their origins, their explosive battles with central banks and finally their role in the financial crisis of 2007-2008. A saga of riches and rich egos, “More Money Than God” is a history of discovery, or the search for inefficiencies that lurk within supposedly efficient markets. Ever since the 1950s, finance professors have argued that beating the market is impossible; so how do the titans earn hundreds of millions, year after year? The answers lie in the extraordinary fertility of hedge funds, which draw on insights from physics, economics and psychology to crack the mysteries of the market. More than just a history “More Money Than God” is a window on tomorrow’s financial system. It describes how hedge funds have been left for dead after past financial panics, but how they have also survived the test of 2008 far better than its rivals. The future of finance lies in the history of hedge funds.

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 (2004) which was named as an Editor’s Choice by the New York Times and After Apartheid (1992), which was a New York Times Notable Book. He lives in Washington with his wife, Zanny Minton Beddoes, the economics editor of The Economist.

Additional information

Cover-Types

Paperback

Distributors

Bhrikuti Pustak

ISBN/ISSN

9781408807347

Language

English

Pages

482

Publishers

Bloomsbury Publishing

Year of Publication

2010 A.D

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