Inventing Money
The Story of Long-Term Capital Management and The Legends Behind It
Résumé
It was the event that nearly killed the bull in its tracks and roused the bear from hibernation. In September 1998, the exclusive and highly secretive hedge fund, Long-Term Capital Management, collapsed. Despite a portfolio of bonds worth $100 billion and the expertise of the world's best financial professionals, LTCM's demise nearly crushed the market. Nicholas Dunbar guides the reader through this world of high finance, high profits, Nobel Prize-winning science, and near financial disaster. Above all, he questions the role of science in finance and where it is likely to lead the world financial markets and economies.
- Includes analysis of electronic trading and its impact
on the "human" market
- Examines the stability of modelling and mathematical formula
Preface to the paperback edition
Acknowledgements
Introduction
1 The Theory of Speculation
- The origin of trading
- Of dogs and molecules
- The invisible man
- The gurus of finance
2 The Science of Fear and Greed
- The risk managers of Babylon
- The pit bulls of Chicago
- The formula that changed the world
- Replicating reahty
- The hunt for free money
3 Trading in Time
- Children of money
- Man of mystery
- The bond brotherhood
- The Saturday night massacre
4 The Garden of Forking Paths
- Breaking down the ivory tower
- The swap shops
- Digging for options
5 The Warning
- The ant and the flea
- Salad days at Salomon
- Scandal
6 The Drearn Tearn
- Brave new world
- The gathering
- The man from the Fed
- Rethinking risk
7 Out of Control
- The Italian job
- The Swiss connection.
- The central bank of volatihty
8 The Song of a Martingale
- In love with leverage
- outhers
- Into the abyss
- The volatility trap
- Game theory
9 Aftermath
Sources and Further Reading
Index
Caractéristiques techniques
PAPIER | |
Éditeur(s) | Wiley |
Auteur(s) | Nick Dunbar |
Parution | 15/11/2000 |
Nb. de pages | 262 |
Format | 15 x 23 |
Couverture | Broché |
Poids | 403g |
Intérieur | Noir et Blanc |
EAN13 | 9780471498117 |
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