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    More Money Than God by Sebastian Mallaby Summary

    More Money Than God
    Sebastian Mallaby
    4.11 (9495 Reviews)
    FinanceBusinessEconomics
    概要
    主なポイント
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    よくある質問

    Overview of More Money Than God

    Dive into the secretive world of hedge funds where billionaires gamble billions. Sebastian Mallaby's definitive industry history reveals how financial mavericks like George Soros navigated crises without taxpayer bailouts - a perspective so compelling, Tim Ferriss recommends it to anyone fascinated by high-stakes capitalism.

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    “

    I do bad things, but I own them.

    ”
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    注目の書籍要約
    Crucial ConversationsThe Perfect MarriageInto the WildNever Split the DifferenceAttachedGood to GreatSay Nothing
    人気のカテゴリ
    Self HelpCommunication SkillRelationshipMindfulnessPhilosophyInspirationProductivity
    著名人の読書リスト
    Elon MuskCharlie KirkBill GatesSteve JobsAndrew HubermanJoe RoganJordan Peterson
    受賞作品コレクション
    Pulitzer PrizeNational Book AwardGoodreads Choice AwardsNobel Prize in LiteratureNew York TimesCaldecott MedalNebula Award
    注目のトピック
    ManagementAmerican HistoryWarTradingStoicismAnxietySex
    年別ベストブック
    2025 Best Non Fiction Books2024 Best Non Fiction Books2023 Best Non Fiction Books
    学習ツール
    Knowledge VisualizerAI Podcast Generator
    注目の著者
    Chimamanda Ngozi AdichieGeorge OrwellO. J. SimpsonBarbara O'NeillWinston ChurchillCharlie Kirk
    BeFreed vs 他のアプリ
    BeFreed vs. Other Book Summary AppsBeFreed vs. ElevenReaderBeFreed vs. ReadwiseBeFreed vs. Anki
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    会社概要arrow
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    重要なポイント

    1

    The Wizards of Wall Street: How Hedge Funds Reshaped Finance

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    In 1949, Alfred Winslow Jones, a former socialist who had worked undercover against Nazis, created the first "hedged fund" with just $100,000. His improvised investment structure would spawn a financial revolution. By combining short selling with leverage and charging performance fees, Jones established a framework that would eventually produce fortunes that made J.P. Morgan look like a pauper. By 2006, the top hedge fund managers each earned over $1 billion annually - more money than God, as the saying goes. These modern financial alchemists live extravagantly with private islands and personal jets, but their greatest impact has been challenging academic orthodoxy about market efficiency while creating a powerful alternative to traditional banking structures. Jones's innovation was combining "speculative means for conservative ends." By routinely shorting part of his portfolio as insurance against market risk, he could invest more aggressively in promising stocks. He meticulously tracked returns from stock selection ("alpha") separately from market exposure ("beta") - anticipating academic breakthroughs in portfolio theory by years. His secretive approach established the culture of mystery that would define hedge funds for generations.

    2

    The Pioneers: From Contrarians to Market Masters

    3

    The Scientific Revolution in Trading

    4

    The Philosopher's Stone: Soros and Reflexivity

    5

    The Quant Revolution: Mathematics Meets Markets

    6

    The Greatest Trade: Betting Against the Bubble

    7

    The Future of Finance: Small Enough to Fail