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List Price: $29.95Amazon.com's Price: $19.77 You Save: $10.18 (34%)as of 09/06/2010 08:18 EDT
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Binding: Hardcover
Dewey Decimal Number: 332.64524
EAN: 9781594202551
Edition: 2nd Printing
ISBN: 1594202559
Label: Penguin Press HC, The
Manufacturer: Penguin Press HC, The
Number Of Items: 1
Number Of Pages: 496
Publication Date: June 10, 2010
Publisher: Penguin Press HC, The
Studio: Penguin Press HC, The
Features:- ISBN13: 9781594202551
- Condition: New
- Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed
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Editorial Review:
Product Description:
The first authoritative history of hedge funds-from their rebel beginnings to their role in defining the future of finance.
Based on author Sebastian Mallaby's unprecedented access to the industry, including three hundred hours of interviews, More Money Than God tells the inside story of hedge funds, from their origins in the 1960s and 1970s to their role in the financial crisis of 2007- 2009.
Wealthy, powerful, and potentially dangerous, hedge fund moguls have become the It Boys of twenty-firstcentury capitalism. Ken Griffin of Citadel started out trading convertible bonds from his dorm room at Harvard. Julian Robertson staffed his hedge fund with college athletes half his age, then he flew them to various retreats in the Rockies and raced them up the mountains. Paul Tudor Jones posed for a magazine photograph next to a killer shark and 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.
Finance professors have long argued that beating the market is impossible, and yet drawing on insights from physics, economics, and psychology, these titans have cracked the market's mysteries and gone on to earn fortunes. Their innovation has transformed the world, spawning new markets in exotic financial instruments and rewriting the rules of capitalism.
More than just a history, More Money Than God is a window on tomorrow's financial system. Hedge funds have been left for dead after past financial panics: After the stock market rout of the early 1970s, after the bond market bloodbath of 1994, after the collapse of Long Term Capital Management in 1998, and yet again after the dot-com crash in 2000. Each time, hedge funds have proved to be survivors, and it would be wrong to bet against them now. Banks such as CitiGroup, brokers such as Bear Stearns and Lehman Brothers, home lenders such as Fannie Mae and Freddie Mac, insurers such as AIG, and money market funds run by giants such as Fidelity-all have failed or been bailed out. But the hedge fund industry has survived the test of 2008 far better than its rivals. The future of finance lies in the history of hedge funds.
Average Rating: 
Rating:  -
I have seen write ups on various hedge fund folks over the years and this book puts them all into perspective. It is a must read for anyone who handles money in this decade.
Extremely easy to read. Great book.
Rating: -
This is a good book and well worth reading. For myself, there was only one reason to read this book and that was to obtain more information on the Medallion methodology. The author does provide information that hitherto was not public. For this I am grateful, but I would have liked, even more, a really deep interview with the various individuals involved in the development of Medallion.
For example, Berlekamp presents himself, on his website, as the creator of Medallion and the solver ... Read More
Rating:  -
More Money Than God is one of the top ten best selling investment books on Amazon right now. Half of the book is a history of the hedge fund industry while the rest of the book looks at their role in the investment world both good and bad. Although the whole book is written in a narrative style I noticed this pivot about half way through it.
The author spent thousands of hours interviewing some of the top hedge fund players and his hard work shows. This is the best book I've read on ... Read More
Rating: -
As hedge funds increase in size, variety and number, they also exercise growing power over central banks and national governments, as well as companies and industries. Unfettered by a fixed investment philosophy, hedge fund managers bank on the flexibility to buy assets and sell them short as dynamic markets dictate. Some hedge funds have succeeded spectacularly and some have failed, such as those holding too many mortgage securities when the U.S. housing industry collapsed in 2007. But over its history, ... Read More
Rating:  -
Not sure why others are fawning over this book. Mallaby spends 90% of the book detailing 12 or so of the most famous hedge fund operators and how they amassed their fortunes. While their stories are interesting, they have been well-told and are available in simple internet searches. I didn't feel Mallaby was bringing any new information to light.
The author does touch on all the salient points as to why hedge funds are not evil (as the press would have you believe). Still, I was hoping for more ... Read More
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