Fischer Black and the Revolutionary Idea of Finance
Fischer Black and the Revolutionary Idea of Finance

Author: Perry Mehrling

Publisher: John Wiley & Sons

Published: 2011-11-30

Total Pages: 402

ISBN-13: 1118287630

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praise for FISCHER BLACK AND THE REVOLUTIONARY IDEA OF FINANCE "The story of Fischer Black. . . . is remarkable both because of the creativity of the man and because of the revolution he brought to Wall Street. . . . Mehrling's book is fascinating." FINANCIAL TIMES "A fascinating history of things we take for granted in our everyday financial lives." THE NEW YORK TIMES "Mehrling's book is essential reading for anyone interested in the development of modern finance or the life of an idiosyncratic creative genius." PUBLISHERS WEEKLY "Fischer Black was more than a vital force in the development of finance theory. He was also a character. Perry Mehrling has captured both sides of the picture: the evolution of thinking about the pricing of risk and time, as well as the thinkers, especially this fascinating eccentric, who worked it out." ROBERT M. SOWLO, Nobel laureate and Institute Professor of Economics, Emeritus, Massachusetts Institute of Technology "Although I worked closely with Fischer for nine years at Goldman Sachs and clearly recognized both his genius and the breadth and originality of his ideas, until I read this book, I had only the vaguest grasp of the source of his inspiration and no understanding at all of the source of his many idiosyncrasies." BOB LITTERMAN, Partner, Kepos Capital "Perry Mehrling has done a remarkable job of tracing the intellectual and personal development of one of the most original and complex thinkers of our generation. Fischer Black deserved it: a charming and brilliant book about a charming and brilliant man." ROBERT E. LUCAS JR., Nobel laureate and Professor of Economics, The University of Chicago

The Legacy of Fischer Black
The Legacy of Fischer Black

Author: Bruce N. Lehmann

Publisher: Oxford University Press

Published: 2005

Total Pages: 319

ISBN-13: 0195168364

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Fischer Black was a remarkable social scientist, one whose contributions range from the lofty perch of highbrow theory to the trenches of practical application. The papers represented in this work span the same range, the contributions of a remarkable array of financial economists who embody in different ways Fischer's ideal of insight from economic theory that both guides and is rooted in the kind of detailed observation of relevant aspects of actual financial markets. It is hoped that readers find this volume to be both a fitting tribute and a stimulus to further research. After all, the advancement of economic science remained a constant goal throughout Fischer's remarkable career in the many and disparate venues in which he plies his trade.

The Emergence of Arthur Laffer
The Emergence of Arthur Laffer

Author: Brian Domitrovic

Publisher: Springer Nature

Published: 2021-03-08

Total Pages: 259

ISBN-13: 3030655547

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This book explores the origins of Arthur Laffer’s economic theories and how they became a part of mainstream economic policy. Utilizing interviews and archival material, Laffer’s life is traced from his early education through to his time working for the Nixon and Reagan administrations. Laffer’s influence on Reaganomics is discussed alongside the development of supply-side economics, the shift towards neoliberal policies, and the Laffer curve. This book aims to contextualise the work of Laffer within archival research and wider economic trends. It will be relevant researchers and policy makers interested in the history of economic thought and the political economy.

Exploring General Equilibrium
Exploring General Equilibrium

Author: Fischer S. Black

Publisher: MIT Press

Published: 2010-05-21

Total Pages: 361

ISBN-13: 0262514095

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An incisive, unconventional assessment of general equilibrium theory; with a previously unpublished paper. Fischer Black is known for his brilliance as well as his sometimes controversial opinions. Highly respected for his scholarly writings in finance, he now moves into different territory with this incisive, unconventional assessment of general equilibrium theory and what that theory reveals about business cycles, growth, and labor economics. The general equilibrium approach, Black asserts, can be used to explain most of the economy's behavior. It can explain business cycles and growth without using sticky prices, irrationality, economies of scale, or imperfect competition. It can explain the volatility of consumption, output, sales, investment, and inventories with axiomatic utility and constant-returns-to-scale production. It can explain temporary layoffs, job changes with and without intervening unemployment, and the behavior of vacancies. It can explain lower wages in part-time jobs, wages that increase rapidly with time on the job, and the forces that cause migration from poor to rich countries. Although the general equilibrium approach can't be tested in conventional ways, it can be used to generate examples that explain stylized facts—generalized observations from the real world—that have preoccupied macroeconomists for the last decade. Black contrasts his interpretation of these facts with conventional interpretations. Finally, he reviews a substantial body of literature on these topics.

Modern Risk Management
Modern Risk Management

Author: Peter Field

Publisher:

Published: 2003

Total Pages: 660

ISBN-13:

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Uniting the most eminent names within the risk industry, this commemorative title chronicles the major historical developments within the derivatives industry whilst presenting a wealth of new insights, perspectives and case-studies on assorted risk management issues.

The Alpha Masters
The Alpha Masters

Author: Maneet Ahuja

Publisher: John Wiley & Sons

Published: 2014-11-10

Total Pages: 287

ISBN-13: 1118971175

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The ultimate behind-the-curtain look at the hedge fund industry, unlocking the most valuable stories, secrets, and lessons directly from those who have played the game best. Written by Maneet Ahuja, the hedge fund industry insider, The Alpha Masters brings the secretive world of hedge funds into the light of day for the first time. As the authority that the biggest names in the business, including John Paulson, David Tepper, and Bill Ackman, go to before breaking major news, Ahuja has access to the innermost workings of the hedge fund industry. For the first time, in Alpha Masters, Ahuja provides both institutional and savvy private investors with tangible, analytical insight into the psychology of the trade, the strategies and investment criteria serious money managers use to determine and evaluate their positions, and special guidance on how the reader can replicate this success themselves. There are few people with access to the inner chambers of the hedge fund industry, and as a result it remains practically uncharted financial territory. Alpha Masters changes all that, shedding light on star fund managers and how exactly they consistently outperform the market. The book: Contains easy-to-follow chapters that are broken down by strategy--Long/Short, Event Arbitrage, Value, Macro, Distressed, Quantitative, Commodities, Activist, pure Short, Fund of Funds. Includes insights from the biggest names in the trading game, including Ray Dalio, Marc Lasry, Jim Chanos, Sonia Gardner, Pierre Lagrange, and Tim Wong. Features contributions from industry icon Mohamed El-Erian Many of the subjects profiled in this groundbreaking new book have never spoken so candidly about their field, providing extremely provocative, newsworthy analysis of today's investing landscape.

Remembering the Past in Contemporary African American Fiction
Remembering the Past in Contemporary African American Fiction

Author: Keith Byerman

Publisher: Univ of North Carolina Press

Published: 2006-05-18

Total Pages: 241

ISBN-13: 080787678X

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With close readings of more than twenty novels by writers including Ernest Gaines, Toni Morrison, Charles Johnson, Gloria Naylor, and John Edgar Wideman, Keith Byerman examines the trend among African American novelists of the late twentieth century to write about black history rather than about their own present. Employing cultural criticism and trauma theory, Byerman frames these works as survivor narratives that rewrite the grand American narrative of individual achievement and the march of democracy. The choice to write historical narratives, he says, must be understood historically. These writers earned widespread recognition for their writing in the 1980s, a period of African American commercial success, as well as the economic decline of the black working class and an increase in black-on-black crime. Byerman contends that a shared experience of suffering joins African American individuals in a group identity, and writing about the past serves as an act of resistance against essentialist ideas of black experience shaping the cultural discourse of the present. Byerman demonstrates that these novels disrupt the temptation in American society to engage history only to limit its significance or to crown successful individuals while forgetting the victims.