More Money Than God: Hedge Funds and the Making of a New EliteThe New York Times bestseller “The bright light shed by More Money Than God is particularly welcome. Mr. Mallaby . . . brings a keen sense of financial theory to his subject and a vivid narrative style.” —Wall Street Journal “Splendid . . . the definitive history of the hedge fund history, a compelling narrative full of larger-than-life characters and dramatic tales of their financial triumphs and reversals.” —The Washington Post The first authoritative history of hedge funds-from their rebel beginnings to their role in defining the future of finance, from the author of The Power Law Wealthy, powerful, and potentially dangerous, hedge fund moguls have become the It Boys of twenty-first-century capitalism. Beating the market was long thought to be impossible, but hedge funds cracked its mysteries and made fortunes in the process. Drawing on his unprecedented access to the industry, esteemed financial writer Sebastian Mallaby tells the inside story of the hedge funds, from their origins in the 1960s to their role in the financial crisis of 2007 to 2009—and explains why understanding the history of hedge funds is key to predicting the future of finance. |
From inside the book
Results 1-5 of 65
Page
Hedge Funds and the Making of a New Elite Sebastian Mallaby. INTRODUCTION: THE. ALPHA. GAME. The. first hedge-fund manager, Alfred Winslow Jones, did not go to business school. He did not possess a PhD in quantitative finance. He did not ...
Hedge Funds and the Making of a New Elite Sebastian Mallaby. INTRODUCTION: THE. ALPHA. GAME. The. first hedge-fund manager, Alfred Winslow Jones, did not go to business school. He did not possess a PhD in quantitative finance. He did not ...
Page
... fund Long-Term Capital Management. Andrei Shleifer, the Harvard economist who had compared the efficient-market ... fund.9 Yet the biggest effect of the new inefficient-market consensus was not that academics flocked to hedge funds. It ...
... fund Long-Term Capital Management. Andrei Shleifer, the Harvard economist who had compared the efficient-market ... fund.9 Yet the biggest effect of the new inefficient-market consensus was not that academics flocked to hedge funds. It ...
Page
Hedge Funds and the Making of a New Elite Sebastian Mallaby. illogically after a large-block sale, Michael Steinhardt was ... fund failure four years later, when Long-Term Capital Management and its crew of Nobel laureates went bust ...
Hedge Funds and the Making of a New Elite Sebastian Mallaby. illogically after a large-block sale, Michael Steinhardt was ... fund failure four years later, when Long-Term Capital Management and its crew of Nobel laureates went bust ...
Page
... funds into their net. Who, in the final analysis, will manage risk better? Commercial banks and investment banks, which either blew up or were bailed out by the government? Mutual-fund companies, which peddled money-market products that ...
... funds into their net. Who, in the final analysis, will manage risk better? Commercial banks and investment banks, which either blew up or were bailed out by the government? Mutual-fund companies, which peddled money-market products that ...
Page
... funds are reluctant to talk about their success.” If hedge-fund managers had emerged as the It Boys of the new century—if they had supplanted the leveraged-buyout barons of the 1980s and the dot-com wizards of the 1990s—it was worth ...
... funds are reluctant to talk about their success.” If hedge-fund managers had emerged as the It Boys of the new century—if they had supplanted the leveraged-buyout barons of the 1980s and the dot-com wizards of the 1990s—it was worth ...
Contents
PAUL SAMUELSONS SECRET | |
THE ALCHEMIST | |
TOP | |
ROCKANDROLL COWBOY | |
WHITE WEDNESDAY | |
THE DOTCOM DOUBLE | |
THE YALE | |
THE CODE BREAKERS | |
PREMONITIONS OF A CRISIS | |
RIDING THE STORM | |
HOW COULD THEY DO THIS? | |
SCARIER THAN WHAT? | |
Acknowledgments | |
Other editions - View all
More Money Than God: Hedge Funds and the Making of the New Elite Sebastian Mallaby Limited preview - 2010 |
More Money Than God: Hedge Funds and the Making of a New Elite Sebastian Mallaby Limited preview - 2011 |
More Money Than God: Hedge Funds and the Making of the New Elite Sebastian Mallaby Limited preview - 2011 |
Common terms and phrases
assets banks began bets better billion bonds bought brokers bubble called capital central collapse Commodities Corporation crash created crisis currency dollar Druckenmiller early earnings economic equity example exchange failed fall fees firm forced futures going Goldman hand hedge funds hedge-fund idea institutional interest interview investment investors John Jones Jones’s Julian July knew later less leverage liquidity Long-Term looked losses LTCM managers March months mortgage move needed Paul percent performance portfolio positions profits raise rates reason recalls regulators reported returns risk Robertson securities seemed selling September shares short Soros Soros’s South Korea speculators started Steinhardt success thing Tiger took trading trend turned Wall Street wanted worth York