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The New Paradigm for Financial Markets

The Credit Crisis of 2008 and What It Means

By George Soros

(23)

| Hardcover | 9781586486839

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Book Description

Synopsis
In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in th Continue

Synopsis
In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. “This is the worst financial crisis since the 1930s,” writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centers around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.

The Washington Post - Peter Behr
George Soros is a billionaire speculator whose voice is amplified by real money. His distaste for the Bush administration runs deep: He put millions of dollars into Sen. John Kerry's 2004 presidential campaign. Yet his account of the credit crash is personal and revealing, not mere political bashing.

More Reviews and Recommendations
Biography
George Soros is chairman of Soros Fund Management and is the founder of a global network of foundations dedicated to supporting open societies. He is the author of several best-selling books including The Bubble of American Supremacy, Underwriting Democracy, and The Age of Fallibility. He was born in Budapest and lives in New York City.

From the Publisher
In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. “This is the worst financial crisis since the 1930s,” writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centers around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.

The Washington Post - Peter Behr
George Soros is a billionaire speculator whose voice is amplified by real money. His distaste for the Bush administration runs deep: He put millions of dollars into Sen. John Kerry's 2004 presidential campaign. Yet his account of the credit crash is personal and revealing, not mere political bashing.

Critics

  • The New Paradigm for Financial Markets

    , one of the best traders of our generation and a man with more than 50 years in the markets. In these uncertain markets, his latest book is welcome, but the section in which he analyzes the current markets is more cursory than most of us would like. ... (read full critics)

    asianreviewofbooks published on Fri, 3 Sep 2010

  • He Foresaw the End of an Era

    George Soros has been an active investor for more than half a century. In the mid-1980s, when I started writing about Wall Street, he was already a leading hedge fund manager. Not many people understood hedge funds back then, but for those in the kno ... (read full critics)

    nybooks published on Thu, 26 Aug 2010

5 Reviews

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  • A quick snapshot of Soros' ideas of reflexivity and also his views on the current crisis. Good one.

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    Andystham said on Jul 18, 2009 | Add your feedback

  • This Book, The New Paradigm for Financial Market, I read it twice. This is my second time to read the book. The first time, I was studied in International Trade Class. I was assigned to write a thesis on "Why crisis still happening under globalization? Why globalization doesn’t share risk to the wor ... (continue)

    This Book, The New Paradigm for Financial Market, I read it twice. This is my second time to read the book. The first time, I was studied in International Trade Class. I was assigned to write a thesis on "Why crisis still happening under globalization? Why globalization doesn’t share risk to the world?”. The conclusion is … … not important. (haha… if you interested you may go back to 2008/6 – 2008/8 blog article, I remember that I posted the summary of my finding. http://hk.myblog.yahoo.com/cfa-jacky) The point is the book is really interesting at first time when I read. (This is my first SOROS book. I have not read his first famous one “Finance Alchemy” yet.) This book brings me a new point of view of financial market – reflexivity. As I only got two weeks of time to complete my thesis, I read very roughly at that time. I read it again when I am free recently. I would like to say the book is quite boring. Beside reflexivity, the book only told about the past financial market history, things I already known. Maybe this is my second time of reading this, that why I feel very bored.

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    Seeker said on Apr 13, 2009 | Add your feedback

  • *** This comment contains spoilers! ***

    Soros's theory on reflexivity provides a new look on the current financial crisis. He tried to use that to explain why the traditional equilibrium theory no longer work. I was deeply impressed by such point of view as I believe in the old theory before.

    Several issues like complexity of the ... (continue)

    Soros's theory on reflexivity provides a new look on the current financial crisis. He tried to use that to explain why the traditional equilibrium theory no longer work. I was deeply impressed by such point of view as I believe in the old theory before.

    Several issues like complexity of the financial instrument, root cause of the burst of housing price and how to deal with that, problem in the Bush's administration have been discussed. It is a nice reading journey with Soros. Thanks. :)

    Is this helpful?

    Polar Bear said on Apr 5, 2009 | Add your feedback

  • The main ideas i get are super-bubble and reflexibility. No one can make decision based on perfect knowledge as it is impossible to pursuit. Because of this, bubble arises.

    Almost all of the financial crisis resulted from the fanatic of irrationality. He is right.

    But to me, it is a ve ... (continue)

    The main ideas i get are super-bubble and reflexibility. No one can make decision based on perfect knowledge as it is impossible to pursuit. Because of this, bubble arises.

    Almost all of the financial crisis resulted from the fanatic of irrationality. He is right.

    But to me, it is a very general idea.

    Is this helpful?

    Cheongson said on Jun 1, 2008 | Add your feedback

Book Details

  • Rating:
    (23)
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  • English Books
  • Hardcover 208 Pages
  • Edition: 1
  • ISBN-10: 1586486837
  • ISBN-13: 9781586486839
  • Publisher: PublicAffairs
  • Pub date: Apr 29, 2008
  • Also available as: Mass Market Paperback
  • In other languages: other languages 繁體書
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