Flash Boys by Michael Lewis Why Aren’t They Shouting? by Kevin Rodgers Inventing Money by Nicholas Dunbar Bloomberg by Bloomberg by Michael R. Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It (). By Nicholas Dunbar John Wiley & Sons, Inc., Third Avenue. This excellent book is focused on the demise of Long-Term Capital Management (LTCM) – a hedge fund which imploded in

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Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It

During the Reagan years Michael Milken and Xunbar Burnham used junk “high-yield” bonds to fund a vast corporate takeover boom that resulted in massive job losses, while enriching those who manipulated this game of greater fools. Interesting section on Martingale theory. LTCM was the fund that was too big to fail, the brightest star in the financial world. The story takes on a certain inevitability. Sep 15, Kathleen Chu rated it really liked it.

Inventing Money by Nicholas Dunbar

Easily one of the best books I have ever read. I read it a while ago. Inhe joined Risk magazine as technical editor. Would you like to change to the site?

In writing this review, I incholas not engaged in rendering professional services. The Theory of Speculation. Because of this book I have an understanding of debt-equity swaps, mortage-backed securities, arbitrage, and options trading.


Safaa Boulahjar rated it it was amazing Aug 03, Business Week put the collapse down to the fact that “Long-Term Capitals rocket science exploded on the launchpad”. Table of contents Preface to dunbxr Paperback Edition. Preview — Inventing Money by Nicholas Dunbar.

An alternative to ” When Genius Failed “. Nothing that is written here should be interpreted as reflecting the views of my employer. Mortgages are packaged bonds and traded in a invennting mortgage backed securities market.

Kumar Ayush rated it it was amazing Dec 09, Leveraging beyond what should be acceptable! How brilliant academics and traders made and lost billions of dollars. LTCM makes huge financial bets, in thousands of market positions. Eugene Shen rated it liked it Aug 08, monwy Thanks for telling us about the problem.

This is the story of the rise and fall of LTCM and the legends behind it. Evan Gorman rated it it was amazing Mar 02, Compared to mutual funds, hedge funds offer a higher rate of return. Brick by brick, the editor of Risk magazine, builds the origin of the option and bond models, and introduces nivholas cast of Nobel winning and big-buck trading characters.

Lots of filler about the history of finance here, but in fairness it was good filler, especially for the year this little book was written. No trivia or quizzes yet. Published December 22nd by Wiley first published December 31st In many cases the returns produced by these funds are matched by the risk of financial loss.


Venture capital funds the new companies, creating new jobs and wealth. The financial markets in the United States are the largest and most powerful markets in the world. A brave and ambitious work, Inventing Money was written by leading financial journalist Nicholas Dunbar. Tobias rated it it was amazing Feb 28, Description LTCM was the nicgolas that was too big to fail, the brightest star in the financial world.

Dunbar’s background is in physics and he understands the theories of modern finance much more completely than Lowenstein. Stoyan Inventting rated it really liked it Jan 12, The US regulators and congress assume that high net worth individuals are experienced investors or at least that they can afford the potential losses associated with higher risk. Kevin Wilson rated it really liked it Mar 25,