Fischer Black and the Revolutionary Idea of Finance. - Couverture souple

Mehrling, Perry

Couverture souple

ISBN 10 : 1118203569 ISBN 13 : 9781118203569

Editeur : Wiley, 2011

Synopsis

The definitive story of Fischer Black, one of the greatest financial minds of all time Besides revolutionizing finance with the Black-Scholes option pricing model, Fischer Black forever changed Wall Street by developing what is now known as quantitative finance. Fischer Black and the Revolutionary Idea of Finance explores Black's intellectual journey from Harvard to the offices of ADL, from the University of Chicago to MIT, and then to Goldman Sachs. This poignant book tells the story of one man's intellectual adventure at the very center of modern finance, fully describing the birth of quantitative finance and financial engineering along the way. Years of research and interviews with Black's business and academic associates, as well as family and friends, are distilled into a scholarly yet personal story of the formation and development of the extraordinary mind and unique character of this unassuming renegade Black deciphered the universe of modern finance in ways that went underappreciated for many years and would have won the Nobel Prize in Economics, if not for his untimely death in 1995 Author Perry Mehrling weaves Black's personal story with the birth of modern finance into a vignette-based business biography that captures the essence of this extraordinary man, explaining, for the first time, the ground-breaking impact Fischer Black had on the worlds of money and finance as well as world markets This compelling biography of the "Einstein of Finance" follows Fischer Black through his incredible career, from his transition from academia to one of the most elite of firms on Wall Street--Goldman Sachs--where he developed quantitative models that tens of thousands of professionals still use today. Fischer Black and the Revolutionary Idea of Finance demystifies this genius of finance and provides an engaging and entertaining look at a man whose life's work encapsulates modern financial theory.

A propos du livre

Revue de presse :

excellent ( getAbstract.com, 7 th November 2005)

a rigorous but rewarding biography (CFO Europe, October 2005)

highly readable (Benefits & Compensation International, October 2005)

"...well–researched...recommended..." (Accounting Technician, September 2005)

"The story of Fischer Black...is remarkable both because of the creativity of the man and because of the revolution he brought to wall Street. Mehrling′s book is fascinating..." (Financial Times, 12th September 2005)

recommended as readable to those with the intellectual curiosity to pursue financial theory (The Independent, 30 July 2005)

a vignette–based business biography that captures the essence of this extraordinary man engaging and entertaining (Credit Control Journal, July 2005)

In a 30–year career equally divided between academics (University of Chicago) and Wall Street, Black contributed seminal papers in almost every area of finance and many areas of economics, but few were published in major peer–reviewed journals and many were never published at all. He spent most of his time alone in a room thinking and writing, was uncomfortable in large groups, an undistinguished lecturer and famously eccentric in ways more irritating than amusing or dramatic. All of this gives Barnard economist Mehrling (The Money Interest and the Public Interest) his work cut out for him. He has responded with a book that, beyond providing the facts of Black′s life, serves as the best currently available general history of the revolution in finance that took place between 1960 and 1990: the essential ideas and disputes are explained clearly, with a minimum of mathematics and jargon, and the relationships among the leading innovators are explored concisely but in depth. As far as Black goes, Mehrling gives a clear picture of his working life and reveals the strong family ties and close personal friendships of a man often thought to have been emotionless. On the whole, Mehrling′s book is essential reading for anyone interested in the development of modern finance or the life of an idiosyncratic creative genius. (July) (Publishers Weekly, June 6, 2005)

"A fascinating history of things we take for granted in our everyday financial lives." (The New York Times)

"[Fischer Black and the Revolutionary Idea of Finance] does an exceptional job of capturing Black s spirit and gives an insightful inside account of the academic financial revolution." (Global Association of Risk Professionals magazine)

"Mehrling skillfully interweaves the stories of Black′s career, his sometimes–difficult personal life, and his contributions to finance and to economics . . . In telling the story of Black′s life, Mehrling casts light on a crucial, underappreciated aspect of the making of our current world."–Science magazine

"Excellent new biography of Fischer Black, one of the great innovators of modern finance theory. . . Mehrling also provides an engaging history of the development of quantitative finance and a solid introduction to some of its central concepts."––Region Focus, Fall 2005

"By unearthing Black′s personal story, Mehrling conjures a unique glimpse into the context in which "the Einstein of finance" viewed liquidity, risk, capital, business cycles –– the world′s entire economic equilibrium. Once inside the mind of Black, you may never look at the market the same way again." ––Trader Monthly magazine

"Besides being a splendid account of the early and great years of the development of Finance as an academic discipline, and a fascinating biography of an extraordinary but difficult genius, this book made me think and reflect more than almost any other book."––Journal of the History of Economic Thought

"...Wit and insight" ( Financial Management, December 2006)

excellent ( getAbstract.com, 7 th November 2005)

a rigorous but rewarding biography (CFO Europe, October 2005)

highly readable (Benefits & Compensation International, October 2005)

"...well–researched...recommended..." (Accounting Technician, September 2005)

"The story of Fischer Black...is remarkable both because of the creativity of the man and because of the revolution he brought to wall Street. Mehrling′s book is fascinating..." (Financial Times, 12th September 2005)

recommended as readable to those with the intellectual curiosity to pursue financial theory (The Independent, 30 July 2005)

a vignette–based business biography that captures the essence of this extraordinary man engaging and entertaining (Credit Control Journal, July 2005)

"...serves as the best currently available general history of the revolution in finance." (Publishers Weekly, June 6, 2005)

"A fascinating history of things we take for granted in our everyday financial lives." (The New York Times)

"[Fischer Black and the Revolutionary Idea of Finance] does an exceptional job of capturing Black s spirit and gives an insightful inside account of the academic financial revolution." (Global Association of Risk Professionals magazine)

"Mehrling skillfully interweaves the stories of Black′s career, his sometimes–difficult personal life, and his contributions to finance and to economics . . . In telling the story of Black′s life, Mehrling casts light on a crucial, underappreciated aspect of the making of our current world." (Science magazine)

"...Wit and insight" ( Financial Management, December 2006)

Présentation de l'éditeur :

Praise for FISCHER BLACK AND THE REVOLUTIONARY IDEA OF FINANCE

"The story of Fischer Black. . . . is remarkable both because of the creativity of the man and because of the revolution he brought to Wall Street. . . . Mehrling′s book is fascinating."
FINANCIAL TIMES

"A fascinating history of things we take for granted in our everyday financial lives."
THE NEW YORK TIMES

"Mehrling′s book is essential reading for anyone interested in the development of modern finance or the life of an idiosyncratic creative genius."
PUBLISHERS WEEKLY

"Fischer Black was more than a vital force in the development of finance theory. He was also a character. Perry Mehrling has captured both sides of the picture: the evolution of thinking about the pricing of risk and time, as well as the thinkers, especially this fascinating eccentric, who worked it out."
ROBERT M. SOLOW, Nobel laureate and Institute Professor of Economics, Emeritus, Massachusetts Institute of Technology

"Although I worked closely with Fischer for nine years at Goldman Sachs and clearly recognized both his genius and the breadth and originality of his ideas, until I read this book, I had only the vaguest grasp of the source of his inspiration and no understanding at all of the source of his many idiosyncrasies."
BOB LITTERMAN, Partner, Kepos Capital

"Perry Mehrling has done a remarkable job of tracing the intellectual and personal development of one of the most original and complex thinkers of our generation. Fischer Black deserved it: a charming and brilliant book about a charming and brilliant man."
ROBERT E. LUCAS JR., Nobel laureate and Professor of Economics, The University of Chicago

À propos de cette édition

• Éditeur: Wiley
• Date d'édition: 2011
• ISBN 10: 1118203569
• ISBN 13: 9781118203569
• Reliure: Broché
• Nombre de pages: 400