More Money Than God

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Sinopsis

Condición del ejemplar: Very Good. Once a little-known corner of finance, hedge funds became some of the most powerful and most misunderstood players in the global economy. In More Money Than God, Sebastian Mallaby tells their story for the first time. Beginning with Alfred Winslow Jones, the sociologist and journalist who launched the first hedge fund in 1949, Mallaby traces the industry’s rise through the careers of its most legendary figures, including Michael Steinhardt, George Soros, Julian Robertson, Paul Tudor Jones and the quantitative pioneers who turned markets into mathematical puzzles. He takes readers inside the extraordinary trades that made fortunes, such as Soros’s famous bet against the British pound, and examines the spectacular failures, including the collapse of Long-Term Capital Management. Based on unprecedented access to hedge fund managers and their records, the book reveals how these funds actually make money, how they manage risk, and why, contrary to popular belief, they were not the main culprits of the 2008 financial crisis. Richly reported and full of colorful characters, this is both a gripping narrative and an illuminating analysis of modern finance, essential for investors, students and anyone who wants to understand how markets really work.