Produktdetaljer
Biografisk notat
GEORGE SOROS is Chairman of Soros Fund Management, which serves as the principal investment advisor to the multibillion-dollar Quantum Group of Funds. Soros's flagship, Quantum Fund, is recognized as the most successful investment fund ever, returning an average 31 percent annually for more than thirty years. Soros has been an important philanthropist since 1979. His charitable foundations are active in more than fifty countries and spend nearly half a billion dollars each year to support projects in education, public health, civil society development, human rights, and many other areas.
“…contains a detailed description of his trading methods and repays careful reading.” (<i>Investors Chronicle</i>, 1st April 2005) <p>“…these updated classics are packed with investment wisdom…” (<i>What Investment</i>, November 2003)</p>
"Wer genau wissen will, wie das ungarische Finanzgenie gegen das Pfund spekulierte, kommt hier voll auf seine Kosten. In seiner Alchemistenküche gibt George Soros fantastische Einblicke in den Entscheidungsprozess eines mit allen Wassern gewaschenen Spekulanten." (WERTPAPIERE - Das Börsenjournal, 4. Dezember 2003)
New chapter by Soros on the secrets to his success along with a new Preface and Introduction.
New Foreword by renowned economist Paul Volcker
"An extraordinary . . . inside look into the decision-making process of the most successful money manager of our time. Fantastic."
—The Wall Street Journal
George Soros is unquestionably one of the most powerful and profitable investors in the world today. Dubbed by BusinessWeek as "the Man who Moves Markets," Soros made a fortune competing with the British pound and remains active today in the global financial community. Now, in this special edition of the classic investment book, The Alchemy of Finance, Soros presents a theoretical and practical account of current financial trends and a new paradigm by which to understand the financial market today. This edition's expanded and revised Introduction details Soros's innovative investment practices along with his views of the world and world order. He also describes a new paradigm for the "theory of reflexivity" which underlies his unique investment strategies. Filled with expert advice and valuable business lessons, The Alchemy of Finance reveals the timeless principles of an investing legend.
This special edition will feature a new chapter by Soros on the secrets of his success and a new Foreword by the Honorable Paul Volcker, former Chairman of the Federal Reserve.
George Soros (New York, NY) is President of Soros Fund Management and Chief Investment Advisor to Quantum Fund N.V., a $12 billion international investment fund. Besides his numerous ventures in finance, Soros is also extremely active in the worlds of education, culture, and economic aid and development through his Open Society Fund and the Soros Foundation.
Foreword to the New Edition
by Paul A. Volcker xi
Foreword to the First Edition
by Paul Tudor Jones II xv
New Preface xix
New Introduction 1
Part One Theory
1. Reflexivity in the Stock Market 49
2. Reflexivity in the Currency Market 73
3. The Credit and Regulatory Cycle 85
Part Two Historical Perspective
4. The International Debt Problem 95
5. The Collective System of Lending 107
6. Reagan’s Imperial Circle 115
7. Evolution of the Banking System 123
8. The “Oligopolarization” of America 133
Part Three The Real-time Experiment
9. The Starting Point: August 1985 145
10. Phase 1: August 1985–December 1985 153
11. Control Period: January 1986–July 1986 201
12. Phase 2: July 1986–November 1986 241
13. The Conclusion: November 1986 295
Part Four Evaluation
14. The Scope for Financial Alchemy: An Evaluation of the Experiment 307
15. The Quandary of the Social Sciences 317
Part Five Prescription
16. Free Markets Versus Regulation 325
17. Toward an International Central Bank 333
18. The Paradox of Systemic Reform 351
19. The Crash of ’87 355
Epilogue 371
Notes 377
Appendix 381
George Soros is unquestionably the most powerful and profitable investor in the world today. Dubbed by BusinessWeek as "The Man Who Moves Markets," Soros once made a billion dollars by betting that the British pound would be devalued. Soros is not merely a man of finance, but a thinker to reckon with as well. In The Alchemy of Finance, this extraordinary man reveals the investment strategies that have made him "a superstar among money managers" (The New York Times).
"An honest struggle by an independent and searching mind to break through an old and stale orthodoxy with new and meaningful insights into financial and human behavior"
—Paul A. Volcker
"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 one of the core of masters . . . who can actually begin to digest the astonishing complexity . . . of the game of finance in recent years."
—Esquire
"A seminal investment book . . . it should be read, underlined, and thought about page by page, concept by idea. . . . He's the best pure investor ever . . . probably the finest analyst of the world in our time."
—Barton M. Biggs Director, BKF Capital Group, Inc.
Produktdetaljer
Biografisk notat
GEORGE SOROS is Chairman of Soros Fund Management, which serves as the principal investment advisor to the multibillion-dollar Quantum Group of Funds. Soros's flagship, Quantum Fund, is recognized as the most successful investment fund ever, returning an average 31 percent annually for more than thirty years. Soros has been an important philanthropist since 1979. His charitable foundations are active in more than fifty countries and spend nearly half a billion dollars each year to support projects in education, public health, civil society development, human rights, and many other areas.