Inventing Money

The Story of Long-Term Capital Management and The Legends Behind It

Nick Dunbar

262 pages, parution le 15/11/2000

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Résumé

A roller-coaster ride through the world of high finance, high profits, Nobel Prize-winning science, and ultimate disaster
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

Contents

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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Inventing Money

Résumé

Caractéristiques techniques

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