Availability: Usually dispatched within 24 hours
Binding: Hardcover
Dewey Decimal Number: 332.0973
EAN: 9781586486839
ISBN: 1586486837
Label: PublicAffairs,U.S.
Manufacturer: PublicAffairs,U.S.
Number Of Items: 1
Number Of Pages: 208
Publication Date: May 15, 2008
Publisher: PublicAffairs,U.S.
Studio: PublicAffairs,U.S.
Sales Rank: 265
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Average Rating: 
Rating: -
This is very much like Soros's other books: a mix of (his own) Philosophy in PART I, and its possible applicability to the Finance markets of the time in PART II.
If you like Taleb's mix of Philosophy and Finance in Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets and The Black Swan: The Impact of the Highly Improbable then you'll Soros's approach.
If you're looking to emulate Soros's success, this book doesn't tell you how to do this in concrete steps. The theory of reflexivity explains the nature of financial markets (the problem) but doesn't give a solution.
Tony Loton, author --
DON'T LOSE MONEY! (in the Stock Markets)
Financial Trading Patterns
Rating: -
Starts off ambitiously attempting to explain the credit crunch, spends a few chapters reiterating why his ideology was not accepted earlier on, and ends proposing a philosophical view of the financial markets....just to say that market performance is a function of what other people do...hardly a revelation and more importantly, no suggestion as to what to do with this "revelation". Last section explains his portfolio performance with market events, which was interesting.
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As this was by George Soros, whom I respect greatly, I felt I had to read it but ended up very disappointed. In short, Soros feels his theory on reflexivity has been ignored and therefore needs to be repeated. This he does and further fills the book with the reasons why he needs to repeat it, particularly because he thinks the credit crunch vidicates his argument.
Very repetitive to the extent that some comments are even repeated on the same page. This is a book which says very little and, to be frank, is not really worth reading.
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Legendary financier George Soros is worried. The financial markets face the worst credit crisis since the Depression and their existing paradigm needs to be replaced. The new paradigm Soros recommends is based on what he calls the "theory of reflexivity." This book-length essay provides a crash course in the billionaire investor's philosophy and view of financial markets, the origins and consequences of the current credit crunch, the boom-bust model and the behavior of market participants. Soros intersperses his market analysis with enough personal details from his early life and career to keep the book lively. He is also quite vocal in his political beliefs; Democrats will probably appreciate the case he makes against President George W. Bush's ... Read More:
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For some reason old men, once they have made a lot of money, turn to philanthropy and academia in an attempt to justify the wealth they have amassed and the time they wasted doing it. Soros appears to be no different.
This book is really just Soros' rant regarding his `new' theory of `reflexivity - if you are hoping for a book filled with insight into the markets or the current crisis, then avert your gaze.
So what is the theory, well, in 3 points the theory (and the whole book) boil down to;
i) equilibrium economics doesn't work (i.e. markets aren't drawn to equilibrium)
ii) people have biased views, which in turn cause biases in market prices
iii) because people participate in markets, their biased views ... Read More:
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