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A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation

by Richard Bookstaber
RM37.00 MYR
A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation
A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation

Insider's view on financial markets' self-made chaos.

If you've ever wondered why Wall Street seems to stumble despite all the high-tech advances and regulatory safeguards, "A Demon of Our Own Design" could offer you some eye-opening insights. Richard Bookstaber, a former hedge fund 'rocket scientist', shares a captivating narrative of the financial world's propensity for self-destruction. His firsthand account of market turbulence and the call for simplicity and decoupling in transactions make this book a compelling read for anyone interested in the paradoxes and perils of modern finance.

  • Financial Times Business Book of the Year Nominee for Longlist (2007)
Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.

A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation

by Richard Bookstaber
RM37.00 MYR
Condition guide

Book Condition Guide

Books in Like New Condition

This book may contain very minor cosmetic defects, but it is in pristine condition. There should be no yellowing, no foxing, no water damage, and no annotations of any kind on the cover and the pages. For paperbacks, there should not be any crease marks on the spine. This book is good as new — lucky you!

*Books may be missing bundle media (e.g. CD, e-book code), if included.

Books in Very Good Condition

This book has been used, but it is still in a clean condition. There should be no foxing or annotations of any kind on the inner pages, but a sparse amount may be present on the cover, title pages, or outside edges of the book. There should be no water damage of any kind. For paperbacks, there may be light crease marks on the spine.

*Books may be missing bundle media (e.g. CD, e-book code), if included.

Books in Good Condition

We do our best to ensure the quality of our books, but there is no escaping the wear and tear that comes with time. Slight foxing and some annotations may be present on the pages and the cover. There should be no water damage of any kind. For paperbacks, there may be several crease marks on the spine.

*Books may be missing bundle media (e.g. CD, e-book code), if included.

Books in Well Read Condition

This is a well-read book, which means that the previous owner probably really enjoyed it! The cover and pages may include moderate foxing and annotations, but the text is not obscured and still readable. Moderate cosmetic defects and minor water damage may be present on the edges of the book. For paperbacks, there may be multiple crease marks on the spine.

*Books may be missing bundle media (e.g. CD, e-book code), if included.

 

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ISBN: 9780471227274
Authors: Richard Bookstaber
Publisher: John Wiley & Sons Inc
Date of Publication: 2007-01-01
Format: Hardcover
Related Collections: Politics, Business, Economics, History
Related Topics: History, Finance, Finance, Money, Politics
Goodreads rating: 3.92
(rated by 1090 readers)

Description

Inside markets, innovation, and risk Why do markets keep crashing and why are financial crises greater than ever before? As the risk manager to some of the leading firms on Wall Street—from Morgan Stanley to Salomon and Citigroup—and a member of some of the world's largest hedge funds, from Moore Capital to Ziff Brothers and FrontPoint Partners, Rick Bookstaber has seen the ghost inside the machine and vividly shows us a world that is even riskier than we think. The very things done to make markets safer have, in fact, created a world that is far more dangerous. From the 1987 crash to Citigroup closing the Salomon Arb unit, from staggering losses at UBS to the demise of Long-Term Capital Management, Bookstaber gives readers a front row seat to the management decisions made by some of the most powerful financial figures in the world that led to catastrophe, and describes the impact of his own activities on markets and market crashes. Much of the innovation of the last 30 years has wreaked havoc on the markets and cost trillions of dollars. A Demon of Our Own Design tells the story of man's attempt to manage market risk and what it has wrought. In the process of showing what we have done, Bookstaber shines a light on what the future holds for a world where capital and power have moved from Wall Street institutions to elite and highly leveraged hedge
 

Insider's view on financial markets' self-made chaos.

If you've ever wondered why Wall Street seems to stumble despite all the high-tech advances and regulatory safeguards, "A Demon of Our Own Design" could offer you some eye-opening insights. Richard Bookstaber, a former hedge fund 'rocket scientist', shares a captivating narrative of the financial world's propensity for self-destruction. His firsthand account of market turbulence and the call for simplicity and decoupling in transactions make this book a compelling read for anyone interested in the paradoxes and perils of modern finance.

  • Financial Times Business Book of the Year Nominee for Longlist (2007)
Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.