Download EBook : More Money Than God: Hedge Funds and the Making of the New Elite

More Money Than God: Hedge Funds and the Making of the New Elite

Sebastian Mallaby

Wealthy, powerful, and potentially dangerous, hedge-find managers have 
emerged as the stars of twenty-first century capitalism. Based on 
unprecedented access to the industry, More Money Than God provides
the first authoritative history of hedge funds. This is the inside 
story of their origins in the 1960s and 1970s, their explosive battles 
with central banks in the 1980s and 1990s, and finally their role in the
financial crisis of 2007-9.

Hedge funds reward risk takers, so 
they tend to attract larger-than-life personalities. Jim Simons began 
life as a code-breaker and mathematician, co-authoring a paper on 
theoretical geometry that led to breakthroughs in string theory. Ken 
Griffin started out trading convertible bonds from his Harvard dorm 
room. Paul Tudor Jones 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. 

A saga of riches and 
rich egos, this is also a history of discovery. Drawing on insights from
mathematics, economics and psychology to crack the mysteries of the 
market, hedge funds have transformed the world, spawning new markets in 
exotic financial instruments and rewriting the rules of capitalism. And 
while major banks, brokers, home lenders, insurers and money market 
funds failed or were bailed out during the crisis of 2007-9, the 
hedge-fund industry survived the test, proving that money can be 
successfully managed without taxpayer safety nets. Anybody pondering 
fixes to the financial system could usefully start here: the future of 
finance lies in the history of hedge funds.

Download Link : Click Here