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The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means [NOOK Book]

Overview

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 ...
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The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means

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Overview

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.
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Editorial Reviews

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.
—The Washington Post
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Product Details

  • ISBN-13: 9781586486846
  • Publisher: PublicAffairs
  • Publication date: 5/6/2008
  • Sold by: Barnes & Noble
  • Format: eBook
  • Pages: 192
  • File size: 879 KB

Meet the Author

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.
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Table of Contents

Setting the Stage

Pt. 1 Perspective

1 The Core Idea 3

2 Autobiography of a Failed Philosopher 12

3 The Theory of Reflexivity 25

4 Reflexivity in Financial Markets 51

Pt. 2 The Current Crisis and Beyond

5 The Super-Bubble Hypothesis 81

6 Autobiography of a Successful Speculator 106

7 My Outlook for 2008 122

8 Some Policy Recommendations 142

Conclusion 153

Acknowledgments 161

About the Author 163

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Customer Reviews

Average Rating 4
( 14 )
Rating Distribution

5 Star

(6)

4 Star

(2)

3 Star

(4)

2 Star

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Sort by: Showing all of 13 Customer Reviews
  • Posted November 17, 2008

    more from this reviewer

    I Also Recommend:

    Philosophy and Finance

    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. <BR/><BR/>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. <BR/><BR/>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.

    2 out of 2 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Posted May 30, 2009

    Understanding and preventing world-wide financial crises.

    Mr. Soros understands and presents the philosophical and financial roots of financial crises. He has the rare background of a London School of Economics graduate, student of philosophy and successful hedge fund manager with over 50 years in investment banking. His concept of "Reflexivity" explains the "boom-bust" cycle that threatens world political-economic stability. He contrasts it with long held idea of market "equilibrium" that do not work for the social (vs. natural) sciences.

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  • Posted February 16, 2009

    Soros 5/12/2008 Publication

    The book is not only insightful, but an easy read for those curious about the direction of finance going forward. The explination on the meltdown of the economy is extraordinarly transparent. If finanicial professionals everywhere would have listened to his earlier book on the topic of reflexivity we would not be where we are today. It really is time that egos get checked at the door, and we start adopting a general understanding of what is real, and what are lies. There was a Senator from IL that clearly was a perfect example of how everything Mr. Soros has written about applies. Manipulate the truth long enough and eventually your selling something that doesn't exist. After enough sales your Madoff scandall's become unraveled and reality will surely rise to the top. Great work Mr. Soros. At least I don't have my head shoved up where the sun doesn't shine.

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  • Anonymous

    Posted June 2, 2008

    The Man is a Genius.

    Soros is one of the great investing minds, along with his former partner, of course. And this book is yet another example of why. But where was this book one or two years ago when it was really needed?

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted May 17, 2008

    Pay off debts and BUY GOLD

    This is a fantastic book from an absolute expert in finances. I have already begun to sell my stocks and buy gold bullion and gold shares.

    0 out of 1 people found this review helpful.

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    Posted March 30, 2011

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    Posted February 25, 2009

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    Posted November 13, 2008

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    Posted November 13, 2008

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