The Alchemy of Finance: Reading the Mind of the MarketPaperback Wiley Investment Classics (Paperback)
- Publisher: John Wiley & Sons Inc
- Format: Paperback | 416 pages
- Dimensions: 152mm x 226mm x 30mm | 499g
- Publication date: 19 August 2003
- Publication City/Country: New York
- ISBN 10: 0471445495
- ISBN 13: 9780471445494
- Edition: 2
- Edition statement: 2nd Revised ed.
- Sales rank: 22,409
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.
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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." (Investors Chronicle, 1st April 2005) "...these updated classics are packed with investment wisdom..." (What Investment, November 2003)
Back cover copy
Critical Praise forThe Alchemy of Finance"The Alchemy of Finance joins Reminiscences of a Stock Operator as a timeless instructional guide of the marketplace." --Paul Tudor Jones From the Foreword to the First Edition"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.Updated to include a new Preface and Introduction by Soros, and a Foreword by Paul A. VolckerGeorge 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).
Table of contents
Foreword to the New Edition by Paul A. Volcker. Foreword to the First Edition by Paul Tudor Jones II. New Preface. New Introduction. PART ONE: THEORY 1. Reflexivity in the Stock Market. 2. Reflexivity in the Currency Market. 3. The Credit and Regulatory Cycle. PART TWO: HISTORICAL PERSPECTIVE. 4. The International Debt Problem. 5. The Collective System of Lending. 6. Reagan's Imperial Circle. 7. Evolution of the Banking System. 8. The "Oligopolarization" of America. PART THREE: THE REAL-TIME EXPERIMENT. 9. The Starting Point: August 1985. 10. Phase 1: August 1985-December 1985. 11. Control Period: January 186-July 1986. 12. Phase 2: July 1986-November 1986. 13. The Conclusion: November 1986. PART FOUR: EVALUATION. 14. The Scope for Financial Alchemy: An Evaluation of the Experiment. 15. The Quandary of the Social Sciences. PART FIVE: PRESCRIPTION. 16. Free Markets Versus Regulation. 17. Toward an International Central Bank. 18. The Paradox of Systemic Reform. 19. The Crash of '87. Epilogue. Notes. Appendix.