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More Money Than God: Hedge Funds and the Making of a New Elite

bySebastian Mallaby

Sebastian Mallaby presents a history of hedge funds and their growing influence on global finance. Through firms and investors ranging from early innovators to famous macro traders and quantitative managers, he examines how flexible mandates, concentrated bets, leverage, and performance incentives produced both extraordinary gains and spectacular failures. Mallaby explains major trades and crises while assessing whether hedge funds make markets more efficient or more fragile. The book places the industry within changes in regulation and financial power, showing how private pools of capital created a new elite capable of moving markets and challenging governments.

Publisher

Penguin Press

Publication date

2010-06-10

Format

Print edition

Pages

496

ISBN

9781594202551