A Demon of Our Own Design (豆瓣)

副标题: Markets, Hedge Funds, and the Perils of Financial Innovation
ISBN: 9780471227274
页数: 276
定价: USD 27.95
出版社: Wiley
装帧: Hardcover
出版年: 2007-04-06

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　　"A risk-management maven who's been on Wall Street for decades…Bookstaber's book shows us some complex strategies that very smart people followed to seemingly reduce risk—but that led to huge losses." (Newsweek)
　　"Mr. Bookstaber is one of Wall Street's 'rocket scientists'--mathematicians lured from academia to help create both complex financial instruments and new computer model... (展开全部) 　　"A risk-management maven who's been on Wall Street for decades…Bookstaber's book shows us some complex strategies that very smart people followed to seemingly reduce risk—but that led to huge losses." (Newsweek)
　　"Mr. Bookstaber is one of Wall Street's 'rocket scientists'--mathematicians lured from academia to help create both complex financial instruments and new computer models for making investing decisions. In the book, he makes a simple point: The turmoil in the financial markets today comes less from changes in the economy--economic growth, for example, is half as volatile as it was 50 years ago--and more from some of the financial instruments (derivatives) that were designed to control risk." (The New York Times)
　　"Bright sparks like Mr Bookstaber ushered in a revolution that fuelled the boom in financial derivatives and Byzantine 'structured products.' The problem, he argues, is that this wizardry has made markets more crisis-prone, not less so. It has done this in two ways: by increasing complexity, and by forging tighter links between various markets and securities, making them dangerously interdependent." (The Economist)
　　"He understands the inner workings of financial markets...A liberal sparkling of juicy stories from the trading floor..." (The Economist)
　　"…smart book…Part memoir, part market forensics, the book gives an insider's view…" (Bloomberg News)
　　"Like many pessimistic observers, Richard Bookstaber thinks financial derivatives, Wall Street innovation and hedge funds will lead to a financial meltdown. What sets Mr. Bookstaber apart is that he has spent his career designing derivatives, working on Wall Street and running a hedge fund." (The Wall Street Journal)
　　"Every so often [a book] pops out of the pile with something original to say, or an original way of saying it. Richard Bookstaber, in A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation, accomplishes both of these rare feats." (Fortune)
　　"a must-read amidst the current market chaos" (BusinessWeek.com)
　　"Bookstaber is a former academic who went on to head risk management for Morgan Stanley and now runs a large hedge fund. He knows the subject and has written a lucid and readable book. To his aid he calls mathematics (from Bertrand Russell to Godel's theorem); physics (particularly Heisenberg's uncertainty principle); and even -- meteorology." (Financial Times)
　　"The book covers a lot about risk management that is relevant to capital markets conditions today and the liquidity crisis." (Financial Times, Saturday 25th August)
　　"...an insider's guide to markets, hedge funds and the perils of financial innovation. We saw plenty of those in 2007." (The Sunday Telegraph, Sunday 25th November 2007)
　　"I cannot recommend this book too highly. It is a clear exposition of what the combination of derivatives, leverage and hedge funds can do to the markets.
　　In short, A Demon of our Own Design is a guide to the dangerous financial markets we have created for ourselves by the clever innovations of structured finance, derivatives, credit default swaps and other newfangled products that are a mystery to the ordinary investor and even plenty of the sophisticates in the investment business. To understand the demonic risks we're taking, read this book."--Forbes.com　　

豆瓣成员常用的标签(共16个) · · · · · ·

金融(9) 投资(4) Hedge(2) BCPL(1) 金融产品(1) 财经读物/Finan.Readings(1) 英文(1) 经济学(1)

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Dan.inactive

　　从单纯的文笔来论，非常不错，一扫我对MIT以往学生的印象。　　前面大半部分主要集中在历史和个人的追溯。以以往供职的公司为主线，穿插了很多溯源和形成，所以，这本书也可以形容成作者本身的自传；由于其中还有很多个人的观念，读者也可以理解成为论文。　　精彩的部分是从Chapter 9开始，与前面的“历史书”......

2009-08-16