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

	List Price: £12.99 Our Price: £5.97 Your Save: £ ( % ) Availability: Usually dispatched within 24 hours Manufacturer: PublicAffairs,U.S.
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Binding: Hardcover Dewey Decimal Number: 332.0973 EAN: 9781586486839 ISBN: 1586486837 Label: PublicAffairs,U.S. Number Of Items: 1 Number Of Pages: 208 Publication Date: 2008-05-15 Publisher: PublicAffairs,U.S. Studio: PublicAffairs,U.S.
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Spotlight customer reviews: Customer Rating: Summary: Debunking myths, economy, philosophy Comment: I really don't know what the people giving one star only to this book are smoking. First things first. If you expect to read this book casually like you would read an easy novel, then this certainly is not the book for you. What Soros is asking from you is to read, take pause, and think. Soros is not only bringing into question the fundamental paradigms about how capitalism works, he is also bringing into question the whole foundation of enlightened Western thinking since the Renaissance. Another reviewer said Soros was delaing in platitudes. Phwa! He obviously skimmed a bit too much... That my friends is not a small fish to fry, it is the first book or article I have seen linking the failure of markets to a misconception at the very heart of rational thinking. Soros makes reference to philosophy in order to explain why economists use mathematics models based on bogus assumptions. This is important and is worth thinking about. If anything, you get a valuable insight in how a guy that is making tons of money is thinking. That by itself should be enough reason to read this book. Customer Rating: Summary: Philosophy and Finance Comment: 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. 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. 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. Tony Loton, author -- DON'T LOSE MONEY! (in the Stock Markets) Financial Trading Patterns Customer Rating: Summary: He's got the answer Comment: Hidden inside the book, towards the end, Mr. Soros points out that when those who create credit are in trouble the government has to bail them out, as credit creation is too important. Therefore they should accept that since they are at government protection and they need to pay a price. And the price is anti-bubble-cycle regulation (my words, he puts it much more elegantly in the book). With this acceptance on both sides we can work towards minimal effective regulation, not just petty throwing of insults between 'hippies' and 'capitalists'. This issue is way to important to be left to the extremes to deal with. All of us, in the more moderate middle ground, need to get in on this debate at a finer level of discourse. And Mr. Soros provides a very useful framework for this. Customer Rating: Summary: Waste of time Comment: Starts off ambitiously attempting to explain the credit crunch, spends a few chapters reiterating why his ideology was not accepted earlier on, and ends proposing a philosophical view of the financial markets....just to say that market performance is a function of what other people do...hardly a revelation and more importantly, no suggestion as to what to do with this "revelation". Last section explains his portfolio performance with market events, which was interesting. Customer Rating: Summary: I'll say that again Comment: As this was by George Soros, whom I respect greatly, I felt I had to read it but ended up very disappointed. In short, Soros feels his theory on reflexivity has been ignored and therefore needs to be repeated. This he does and further fills the book with the reasons why he needs to repeat it, particularly because he thinks the credit crunch vidicates his argument. Very repetitive to the extent that some comments are even repeated on the same page. This is a book which says very little and, to be frank, is not really worth reading.

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