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
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... exchange-rate policies in Europe and Asia. After the East Asian crisis, Malaysia's prime minister, Mahathir Mohamad, lamented that “all these countries have spent 40 years trying to build up their economies and a moron like Soros comes ...
... exchange-rate policies in Europe and Asia. After the East Asian crisis, Malaysia's prime minister, Mahathir Mohamad, lamented that “all these countries have spent 40 years trying to build up their economies and a moron like Soros comes ...
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... Exchange or an entire year's worth of output from the Canadian economy. Nobody doubted that this hedge-fund phenomenon was new, unprecedented, and symbolic of the era. “Running a few hundred million dollars for a hedge fund—and taking ...
... Exchange or an entire year's worth of output from the Canadian economy. Nobody doubted that this hedge-fund phenomenon was new, unprecedented, and symbolic of the era. “Running a few hundred million dollars for a hedge fund—and taking ...
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... exchange and hear only the rattle of backgammon dice through the open windows.15 But what is striking about Jones, given his youthful adventures with the undercover Left, is that he emerged from this turmoil more levelheaded than before ...
... exchange and hear only the rattle of backgammon dice through the open windows.15 But what is striking about Jones, given his youthful adventures with the undercover Left, is that he emerged from this turmoil more levelheaded than before ...
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... exchange ticker with a glass dome over it, an electromechanical calculating machine that you cranked by hand, and a couch on which Jones liked to nap after his lunches. 26 Jones set out to see whether he could translate the.
... exchange ticker with a glass dome over it, an electromechanical calculating machine that you cranked by hand, and a couch on which Jones liked to nap after his lunches. 26 Jones set out to see whether he could translate the.
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... Exchange Commission offices to read company filings the moment they came out. The extraordinary thing was that he was all alone. The rest of the Street was waiting for the filings to arrive in a bundle from the post office. The linking ...
... Exchange Commission offices to read company filings the moment they came out. The extraordinary thing was that he was all alone. The rest of the Street was waiting for the filings to arrive in a bundle from the post office. The linking ...
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