Introduction: the paradox of market risk -- The demons of '87 -- A new sheriff in town -- How Salomon rolled the dice and lost -- They bought Salomon, then they killed it -- Long-term capital management rides the leverage cycle to hell -- Colossus -- Complexity, tight coupling, and normal accidents -- The brave new world of hedge funds -- Cockroaches and hedge funds -- Hedge fund existential -- Conclusion : built to crash?
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SUMMARY OR ABSTRACT
Text of Note
Inside markets, innovation, and riskWhy 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 Citigrou.
ACQUISITION INFORMATION NOTE
Source for Acquisition/Subscription Address
OverDrive, Inc.
Source for Acquisition/Subscription Address
OverDrive, Inc.
Stock Number
AF06C682-A2A5-4139-BCBD-D6CBA42B2303
OTHER EDITION IN ANOTHER MEDIUM
Title
Demon of our own design.
International Standard Book Number
0471227277
TOPICAL NAME USED AS SUBJECT
Hedge funds.
Risk management.
BUSINESS & ECONOMICS-- Investments & Securities-- Futures.