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Satyajit Das – Traders, Guns and Money: Knowns and unknowns in the dazzling world of derivatives Revised edition (Financial Times Series) eBook

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Description

Satyajit Das  – Traders, Guns and Money: Knowns and unknowns in the dazzling world of derivatives Revised edition (Financial Times Series)

Traders Guns and Money is a wickedly comic exposé of the culture, games and pure deceptions played out every day in trading rooms around the world. And played out with other people’s money.

A sensational insider’s view of the business of trading and marketing derivatives, this revised edition explains the frighteningly central role that derivatives and financial products played in the global financial crisis.

This worldwide bestseller reveals the truth about derivatives: those financial tools memorably described by Warren Buffett as ‘financial weapons of mass destruction’. Traders, Guns and Money will introduce you to the players and the practices and reveals how the real money is made and lost.

The global financial crisis took almost everyone by surprise and even now new problems keep appearing and solutions continue to be elusive. In the original version of Traders, Guns and Money, Satyajit Das provided a highly prescient insight into the structure and risk of the world financial system exposing the problems that are becoming readily apparent. In a 2006 speech – The Coming Credit Crash – Das argued that: “an informed analysis … shows that risk is not better spread but more leveraged and (arguably) more concentrated…. This does not improve the overall stability and security of the financial system but exposes it to increased risk of a “crash”.

Editorial Reviews:

EXTREME MONEY: THE MASTERS OF THE UNIVERSE AND THE CULT OF RISK, the new title from bestselling author Satyajit Das, is now available to on Amazon.

“Funny, readable and peppered with one-liners from Groucho Marx, “Traders, Guns & Money” offers an ideal primer for anyone tempted to take a walk on the derivative side.”
James Pressley, Bloomberg.com

‘……a distinctly timely book ….Traders, Guns and Money, tries to reach out to the mathematically challenged to explain how the world of derivatives “really” works.’
Gillian Tett, Financial Times

‘The sexier side of finance … at last … a convincing picture of what life is like in today’s modern financial industry.’
Corporate Financier

‘…a fascinating and compelling insight into the world of derivatives… a page turning quality more reminiscent of a John Grisham novel than a dissertation on derivatives.’
FINASIA

‘….more riveting than the Da Vinci Code…in the mould of Liars’ Poker…an insider’s account of how derivatives markets work…’  
Goola Warden, The Edge

‘this is possibly the best insider account of a career in investments since Michael Lewis’s book Liar’s Poker….I can’t recommend this book strongly enough.’
www. dna.bloggingstocks.com

‘… a beginner’s guide to the often unsavoury and murky world of trading…a surprisingly gripping account ….’
Money Week  

‘A worthwhile read for anyone with connection to the financial world.’
WorldFinance.com

‘…. must read for all CEOs, CFOs, bankers and anyone who cares about what banks are doing with their money.’
Lara Wozniak, www.financeasia.com

‘…an amusing, down-to-earth look behind the scenes of the derivatives market….There were several times I laughed out loud….’
www.runningofthebools.typepad.com

‘… a scalpel of a book’
Financial Engineering News

“Das’ audacity is commendable as he does not hesitate to challenge the greatest intellectuals of quantitative finance like Myron Scholes and Fischer Black….Overall, he does a splendid job of portraying the obsessive mentality of the traders that anything can be traded.”
Medill Money Mavens, August 2010

From the Back Cover

‘…a distinctly timely book … Traders, Guns & Money tries to reach out to the mathematically challenged to explain how the world of derivatives “really” works.’
Gillian Tett, Financial Times

‘…a scalpel of a book that pulls back the skin on the derivatives and risk management industry to expose the blood, guts and circulatory system underneath…’
Nina Mehta, Financial Engineering News

‘… a beginner’s guide to the often unsavoury and murky world of trading … a surprisingly gripping account …’
Money Week  

‘ … more rivetting than The Da Vinci Code…in the mould of Liar’s Poker…an insider’s account of how derivatives markets work…’
Goola Warden, The Edge, Singapore

‘The sexier side of finance … at last … a convincing picture of what life is like in today’s modern financial industry.’
Corporate Financier

‘…a page-turning quality more reminiscent of a John Grisham novel.’
JASSA, Finsia

Traders Guns & Money is a wickedly comic exposé of the culture, games and pure deceptions played out every day in trading rooms around the world. And played out with other people’s money.

A sensational insider’s view of the business of trading and marketing derivatives, this revised edition explains the frighteningly central role that derivatives and financial products played in the global financial crisis.

Biography
Satyajit Das is an internationally respected expert in finance, with over 30 years’ experience. He worked for the “sell side” (banks such as Citicorp Investment Bank and Merrill Lynch), the “buy side” (Treasurer of the TNT Group) and acted as a consultant advising banks, investors, corporations and central banks throughout the world. He has been within touching distance of many of the pivotal events in finance during his long career.

Das presciently anticipated many aspects of the Global Financial Crisis in his 2006 book Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives In a speech that year – The Coming Credit Crash – he argued that: “an informed analysis of the structured credit markets shows that risk is not better spread but more leveraged and (arguably) more concentrated amongst hedge funds and a small group of dealers. This does not improve the overall stability and security of the financial system but exposes it to increased risk of a “crash” during a credit downturn.” He has continued to be a respected commentator on developments in the crisis, accurately anticipating many subsequent phases.

He was featured in Charles Ferguson’s 2010 Oscar winning documentary Inside Job and a 2009 BBC BizLearning documentary – Tricks with Risk.

Das is the author of many highly regarded books on derivatives and risk management, which are regarded as standard reference works for professional traders. In 2006, he published the international best seller Traders, Guns & Money, a satirical insider’s account of derivatives trading. The Financial Times described it as explaining “not only the high-minded theory behind the business and its various products but the sometimes sordid reality of the industry”.

His latest book is Extreme Money: The Masters of the Universe and the Cult of Risk (2011) described by Nouriel Roubini as: “A true insider’s devastating analysis of the financial alchemy of the last 30 years and its destructive consequences. With his intimate first-hand knowledge, Das takes a knife to global finance and financiers to reveal its inner workings without fear or favor.”

He appears regularly in the media in the US, Canada, UK, Australian, New Zealand, India and South Africa. His opinion pieces appear in prestigious publications throughout the world including the Financial Times. His blogs can be found on a number of on-line financial sites, including www.wilmott.com, www.roubini.com, www.minyanville.com, www.eurointelligence.com, www.nakedcapitalism.com and www.prudentbear.com.

Customer Reviews
4.2 out of 5 stars

http://www.amazon.com/Traders-Guns-Money-derivatives-Financi…

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