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A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation | 
 enlarge | Author: Richard Bookstaber
Publisher: John Wiley & Sons
Category: Book
List Price: £10.99
Buy New: £4.59
You Save: £6.40 (58%)
New (26) Used (5) from £4.59
Rating:  2 reviews
Sales Rank: 6902
Media: Paperback
Pages: 304
Number Of Items: 1
Shipping Weight (lbs): 0.8
Dimensions (in): 8.9 x 5.9 x 0.9
ISBN: 0470393750
Dewey Decimal Number: 332
EAN: 9780470393758
ASIN: 0470393750
Publication Date: November 28, 2008
Availability: Usually dispatched within 1-2 business days
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| Customer Reviews:
Thought-provoking reflection on Wall Street risk today September 11, 2008
Rolf Dobelli (Luzern Switzerland)
2 out of 6 found this review helpful
This book is part memoir, part reflection on risk, part tell-all, part recapitulation of recent financial crises and part polemic. If you fret that all these parts might blur author Richard Bookstaber's objectives and message, you are right, but, if you have the patience, keep reading. Enjoy the somewhat diffuse anecdotes and observations in the first few chapters until you reach the author's straightforward presentation of his case that the U.S. financial system is at risk from complexity and tight coupling. The book would have benefited from a slightly fresher take on the financial crises of the last three decades. However, given the author's years as a risk manager on Wall Street (Morgan Stanley, Salomon Brothers, Citigroup) and as a hedge fund expert (Moore Capital, Ziff Brothers, FrontPoint), his personal experience during fiscal crises and his close view of dramatic turns in the market, getAbstract finds that his diagnosis of systemic problems conveys several important stories and that his analysis deserves your attention.
A good insight into financial markets December 29, 2007
S. Moran (London, UK)
7 out of 11 found this review helpful
Quite an interesting book with numerous anecdotes and a lot of historical information in there. It provides an interesting insight into the late 80's and the 90's financial markets from the perspective of someone who was obviously high up in the organisation and would have seen what was going on.
The book does seem to focus very much on the author's time at Morgan Stanley and Salomon/Citi though, with only a small amount of information on his time at Moore or Ziff Brothers which I would have liked to have seen more information on.
Definitely worth reading but don't expect it to be another FIASCO or Liars Poker with lots of stories about greedy traders and salespeople.
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