
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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将知识转化为引人入胜、富含实例的见解
快速捕捉核心观点,高效学习
以有趣互动的方式享受这本书
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.
将《More Money Than God》的核心观点拆解为易于理解的要点,了解创新团队如何创造、协作和成长。
将《More Money Than God》提炼为快速记忆要点,突出坦诚、团队合作和创造力的关键原则。

通过生动的故事体验《More Money Than God》,将创新经验转化为令人难忘且可应用的精彩时刻。
随心提问,选择声音,共同创造真正与你产生共鸣的见解。

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