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Dec 09, 2007 6:04 pm A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation
Adrian Scott
Highly worth reading:

A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation

A few good things:

- some great historical perspective on financial market developments, with first-hand experiences recounted

- if you read between the lines, you can extract from this book a system for making nice profits off of the trading units of publicly-traded companies because of the overall management structure (you can see this in action in the current mortgage market situation).

Something to filter out:

- the author can't shake his EMT -- efficient market theory -- bias. This always cracks me up, I'm sorry...

Anyhow, a must read for serious students of the markets and the world.




PS What I alluded to in the last book review is the role of technology in markets... Read the Origin of Wealth, especially if you've let EMT-oriented professors cloud your mind in the past :).

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