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

Jun 28th, 2015
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Alabama State University
Course: general
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Inside markets, innovation, and risk Why do markets keep crashing and why are financial crisesgreater than ever before? As the risk manager to some of theleading firms on Wall Street–from Morgan Stanley to Salomonand Citigroup–and a member of some of the world’slargest hedge funds, from Moore Capital to Ziff Brothers andFrontPoint Partners, Rick Bookstaber has seen the ghost inside themachine and vividly shows us a world that is even riskier than wethink. The very things done to make markets safer, have, in fact,created a world that is far more dangerous. From the 1987 crash toCitigroup closing the Salomon Arb unit, from staggering losses atUBS to the demise of Long-Term Capital Management, Bookstaber givesreaders a front row seat to the management decisions made by someof the most powerful financial figures in the world that led tocatastrophe, and describes the impact of his ow

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A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial InnovationbyRichard BookstaberInside markets, innovation, and riskWhy do markets keep crashing and why are financial crisesgreater than ever before? As the risk manager to some of theleading firms on Wall Street

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