塞巴斯蒂安•马拉比
保罗•沃尔克时期对外关系委员会国际经济高级研究员,《华盛顿邮报》的专栏作家。
他在《经济学人》杂志工作了13年,在《华盛顿邮报》编委会工作了8年,主要专注于经济全球化和政治经济领域。
他的著作包括2004年出版的《世界银行家》(The World’s Banker)和1992年出版的《后种族隔离时代》(After Apartheid),两本书均入选《纽约时报》推荐书目。
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.
P2 绩效费,performance fee直译为“业绩提成”比较明白。 P3 ;摩尔资本管理公司(Moore Capital)的创始人路易士 · 培根(Louis Bacon)在“纽约长岛海湾”买了个私人岛屿。 原文:Louis Bacon, the founder of Moore Capital, acquired an island in “the Great Peconic ...
评分如果你觉得对冲基金很神秘,建议你看看这本书。 里面的某些细节描述,基本构成了一家对冲基金应该怎么建立,如何进行投资,投资那些领域,怎么取得成功,涉及了什么的金融学原理,作者一直想说明,为什么某只对冲基金是他们那个时代的天之骄子。从大萧条之后开始说起...
评分I read the book first when I was working on Wall Street in the US. I have had the luxury to work at Goldman Sachs, Credit Suisse and personally known, consulted and worked with many of the figures mentioned in the book, especially John Paulson and Tiger M...
评分如果你觉得对冲基金很神秘,建议你看看这本书。 里面的某些细节描述,基本构成了一家对冲基金应该怎么建立,如何进行投资,投资那些领域,怎么取得成功,涉及了什么的金融学原理,作者一直想说明,为什么某只对冲基金是他们那个时代的天之骄子。从大萧条之后开始说起...
评分当时是伦敦早晨八点二十,我坐在133路公交车上,在针线街(Threadneedle Street)。一个小时前我出门上班,公交换火车换公交,居然我不感到累;还有十分钟就到公司开始实习,我居然不感到焦躁。我全神贯注地在读手里的书,《富可敌国:对冲基金与新精英的崛起》(More Money Than...
迄今为止看过最好的关于对冲基金的书。半个多世纪以来,对冲基金逐渐发展,随着经济跌宕起伏。作者不仅讲述了精彩的故事,还有一定程度的理论介绍。逻辑清晰,文笔优美。
评分虽然有些经济学上的事不懂/再读一遍。是纪录片了,很喜欢此类~
评分A highly impressive illustration of the hedge fund industry, its starting point, its development, its gurus, as well as their successes and failures. The authour is of the opinion that hedge funds, as "small-enough-to-fail" institutions, effectively absorb more risk from the market than they create, and therefore should be allowed to flourish.
评分fund manager 众生相,挣钱容易,挣钱一辈子,太难
评分八卦
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