Chaos Kings (häftad)
Häftad (Paperback / softback)
Antal sidor
Scribe Publications
234 x 153 x 24 mm
426 g
Chaos Kings (häftad)

Chaos Kings

how Wall Street traders make billions in the new age of crisis

Häftad,  Engelska, 2023-07-13
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For fans of The Black Swan and written by a veteran Wall Street Journal reporter, this is a fascinating deep dive into the world of billion-dollar traders and high-stakes crisis predictors who strive to turn extreme events into financial windfalls. Theres no doubt that our world has gotten more extreme. Pandemics, climate change, superpower rivalries, technological disruption, political radicalisation, religious fundamentalism all threaten chaos that put trillions in assets at risk. But around the world, across a wide variety of disciplines, would-be super-forecasters are trying to take the guesswork out of what formerly seemed like random chance. Some put their faith in black swans unpredictable, catastrophic events that cant be foreseen but send exotic financial instruments screaming in high-profit directions. Most famous among this group of big-bet traders are those who run the Universa fund, who, on days of extreme upheaval, have made as much as $1 billion. Author Scott Patterson gained exclusive access to Universa strategists and met with savvy seers in a variety of fields, from earthquake prediction to counterterrorism to climatology, to see if its actually possible to bet on disaster and win. Riveting, relevant, and revelatory, this is a must-read for anyone curious about how some of todays investors alchemise catastrophe into profit.
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Its not just the wild success of the catastrophists that makes this book fascinating but the way their philosophy reversed many of the rules of investing. -- John Arlidge * The Sunday Times * A closely observed chronicle of the storm-chasing edgelords of finance and the critics with whom they clash Even those unfamiliar with, or uninterested in, the oscillations of the stock market may find themselves gripped by Pattersons account. -- Marie Solis * The New York Times * In Chaos Kings, the indefatigable Scott Patterson has done it again: delivered a riveting account of Wall Street mavericks whose unconventional understanding of risk has netted them a fortune and us a fascinating account of how they did it. The unlikely partnership between Mark Spitznagel and Nassim Taleb has made them rich, saved their clients from financial calamity, and, under Pattersons deft pen, produced an epic page turner. -- William D. Cohan, <i>New York Times</i> bestselling author of <i>Power Failure</i>, <i>Money and Power</i>, and <i>House of Cards</i> Scott Pattersons Chaos Kings is an extraordinary exploration of cutting-edge efforts to understand the manifold and interconnected risks slamming civilisation at an alarming rate. Its a critical read for anyone with an interest in whats coming next and how to prepare for it, financially and otherwise. Scott has an uncanny knack for diving into the fascinating convergence of technology and investing, so Im always excited to see what hes discovering. -- Bradley Hope, <em>New York Times</em> bestselling co-author of <em>Billion Dollar Whale</em> and co-founder of Project Brazen Fast paced like a thriller but, also, thought-provoking in its willingness to show us the range of possible catastrophes, Chaos Kings tracks the adventures of contrarian investors who, rather than hide from chaos and confusion, seek it out. Their reward in many cases: a fortune. This book teems with great stories as well as market insights that you wont get from conventional investors. -- Aaron Brown, former Chief Risk Manager at AQR Capital Management, and author of <em>The Poker Face of Wall Street</em> and <em>Red-Blooded Risk</em> Financial markets covet stability; they don't like surprises. In our new age of crisis, Scott Patterson convincingly recounts how a unique type of trader has learned to embrace the disruptions and make a lot of money doing so. Combining risk theory, finance, and portraits of some of the most interesting billionaires of doom, Patterson takes us on a disturbing tour of what could come tumbling down. But he also provides a detailed road map showing average citizens how to steer past catastrophe. Youll be left wondering whether these Chaos Kings are brilliant, opportunistic, visionary, or even loathsome. In Pattersons lively account, youll definitely find them fascinating. -- Juliette Kayyem, former Assistant Secretary of the Department of Homeland Security, and author of <em>The Devil Never Sleeps: learning to live in an age of disasters</em> The world is an increasingly unstable place, threatening to go off the rails at any time. This chaos is devastating to many, but a boon to a few who are cashing in on it. Read this engaging book to learn about who they are and how they do it. -- Mark Zandi, chief economist of Moody's Analytics and author of <em>Financial Shock</em> and <em>Paying the Price</em> We live in a world of pandemics, climate change, war, and unstable institutions. Scott Pattersons fascinating Chaos Kings is a provocative look at those placing big bets who believe they have tamed the financial risk whipped up by these unruly beasts. It holds perceptive insights for anyone who lives or invests in our modern uncertain world. -- Russell Gold, author o

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Scott Patterson has been a reporter for nearly two decades, mostly at The Wall Street Journal in New York City; Washington, DC; and London. Most recently, he has been focused on the negative impacts of climate change and their effect on the financial system. His 2010 New York Times bestseller The Quants was about the rise of mathematical traders and their near destruction of the financial system. His second book, Dark Pools, exposed high-frequency trading risks and was lauded by a pantheon of financial writers, including James Stewart and Michael Lewis. A winner of the Loeb Breaking News Award, Patterson has made frequent appearances in the media, including on CNBC, The Daily Show, and Fresh Air. He lives in Alexandria, Virginia, with his wife and son.