INVENTING MONEY NICHOLAS DUNBAR PDF

Flash Boys by Michael Lewis Why Aren’t They Shouting? by Kevin Rodgers Inventing Money by Nicholas Dunbar Bloomberg by Bloomberg by Michael R. Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It (). By Nicholas Dunbar John Wiley & Sons, Inc., Third Avenue. This excellent book is focused on the demise of Long-Term Capital Management (LTCM) – a hedge fund which imploded in

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One of the benefits of being a “high net worth individual” is that you can invest in hedge funds, which are not regulated as mutual funds are.

The knowledge I gained from this book is worth 10 times what I paid for it. In many cases the returns produced by these funds are matched by the risk of financial loss. Many people have taken advantage of stock market gains via mutual funds.

I nciholas prompted into buying this book after seeing a truly hopeless Channel 4 documentary about the LTCM collapse which attempted – but failed entirely – to explain what LTCM was all about: During this period his interests ranged from quantum mechanics and black holes to evolution and the history of global climate change.

Jan 08, Henrik Warne rated it really liked it.

Inventing Money by Nicholas Dunbar

Table of contents Preface to the Paperback Edition. There monney a reason that only “high net worth” individuals can invest in hedge funds. During this period his interests ranged from quantum mechanics and black holes to evolution and the history of global climate change. Henry Knox rated it really liked it Mar 13, When it fell to earth in September it shook the world. This is a powerful story telling technique.

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Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It

As a result, all quotes used in this review fall under the doctrine of fair use. Nothing that is written here should be interpreted as reflecting the views of my employer.

Waleed Rasromani rated it it was amazing May 02, Thanks for telling us about the problem. Nov 30, Athan Tolis rated it it was amazing Shelves: So you get to find out what trades LTCM and its peers had on and nihcolas happened to those trades.

Kristel rated it it was amazing Sep 10, The rest of the book details the events that lead up to the failure. Instead of the Greek Gods pulling the threads of the tale, modern finance lurks behind the scenes.

The loosening of regulation in the last twenty years and the availability of inexpensive computing power has created markets that effect the lives of almost every US citizen. The Theory of Speculation. Lists with This Book.

Interesting section on Martingale theory. For anyone who works in a trading firm or who has even tangentially studied quantitative finance, the failure of Dunvar is a cautionary tale about the limits of modern financial theory.

InDunbar decided to leave academia. Transatlantic flight the other day, so spare time available. Jesse Mckendry rated it really liked it Mnoey 27, Inhe joined Risk magazine as technical editor. During the Reagan years Michael Milken and Drexel Burnham used junk “high-yield” bonds to fund a vast corporate takeover boom that resulted in massive job losses, while enriching those who manipulated this game of greater fools.

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Contents The Theory of Speculation. It was also very interesting to see how seemingly foolproof trading strategies could unravel very quickly when underlying fine-print assumptions like the assumption of liquid markets were violated, and how liquidity problems could have moneyy consequences.

LTCM was built on genius. Olivier Van Parys rated it really liked it Jul 26, My library Help Advanced Book Search.

Until suddenly it all went very wrong. Therefore, this book is Inventing Money tells the story of the rise and fall of Long Term Capital Management and its main characters. The s are sometimes referred to as “the greed decade”.

A broader scope than When Genius Failed: I don’t remember it well enough to give a detailed review. This is the story of the rise and fall of LTCM and the legends behind it. The Theory of Speculation. In parallel, it chronicles the development of much of modern finance theory, including the development of the Black-Scholes formula for option pricing.

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