The Alchemy of Finance
- ISBN13: 9780471445494
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
Critical Praise forThe Alchemy of Finance “The Alchemy of Finance joins Reminiscences of a Stock Operator as a timeless instructional guide of the marketplace.”
––Paul Tudor Jones
From the Foreword to the First Edition “An extraordinary . . . inside look into the decision-making process of the most successful money manager of our time. Fantastic.”
––The Wall Street Journal “A breathtakingly brilliant book. Soros is… More >>
Why is Paul Volcker writing books with convicted inside traders?
Volcker supposedly had a good reputation.
Soros was convicted of inside trading in December 2002. There should be a section in this book on how to make piles of money by trading with non-public information.
Rating: 1 / 5
I ordered the wrong product and I requested that the order be cancelled. I submitted my request on a Friday. I did not get a response until Monday afternoon. My request was made before the ship date but seller would not cancel. Now I have to go through the trouble of returning it.
Poor communication!!!
Rating: 2 / 5
This is by far one the most important business books ever to be written. It’s a must for anyone looking to educate themselves about the world of business. Anyone can learn from the How-To gurus, but if you want to truly educate yourself, read this book.
Rating: 5 / 5
Soros wrote this book several years ago as a self proclaimed “life’s work” about his techniques for trading in the currencies and commodities markets. He became famous for making a billion dollars in one day by shorting the British pound against the dollar and other currencies. More recently, Soros has become famous for his financial backing of neo-communist media-hit organizations, like moveon.com and international A.N.S.W.E.R., due to his pathological and self-acknowledged hatred of G.W. Bush. This seems at odds with the cooler countenance of a financial markets trader such that he is, and a successful one at that, but, it’s a funny and inconsistent world, is it not?
Soros demonstrates throughout this somewhat turgid tome a masterful knowledge of the seemingly ceaseless elements of the fundamentals underlying the trading decisions of a fin-mkt operator. His theory of reflexivity, a play on Einsteins theory of relativity, is a commentary on the human capacity to change events by taking actions ahead of perceived expections only to distort the outcomes expected in the first place. Put simply, it’s an understanding of how markets actually work in real life, not in the void of an academic lab setting.
When you’re capable of making a billion in a day it’s easy to gain a messianic complex and there’s a bit of that on display in this book. Couple that with Soros’ having escaped totalitarianism as a young Jewish boy in Hungary, and you can only marvel at his skill, talent and tenacity.
Being a creature of the fin-mkts myself I thoroughly enjoyed this book, however it would be tedious for almost anyone not consumed by the prospects of i.e. shorting palm oil in Asia while going long soybeans in the west, or someone bent on knowing the open interest represented in the oil tanks of Rotterdam; not something one hears discussed nightly on the news.
For a look into the mind of the money behind the Kerry campaign of 2004, read this book. But, read it dlowly and take copious notes. And, good luck on your foray into currency trading, you’ll need it.
Rating: 4 / 5
Not Soros fault of course. More down to my trading. Great read though and some nice ideas about how market sentiment works or should work. Another Besife Tonwe recommendation to our book club.
Rating: 5 / 5