More Money Than God: Hedge Funds and the Making of a New Elite

The New York Times bestseller

＂The bright light shed by More Money Than God is particularly welcome. Mr. Mallaby . . . brings a keen sense of financial theory to his subject and a vivid narrative style.＂ --Wall Street Journal

＂Splendid . . . the definitive history of the hedge fund history, a compelling narrative full of larger-than-life characters and dramatic tales of their financial triumphs and reversals.＂ --The Washington Post

The first authoritative history of hedge funds-from their rebel beginnings to their role in defining the future of finance, from the author of The Power Law

Wealthy, powerful, and potentially dangerous, hedge fund moguls have become the It Boys of twenty-first-century capitalism. Beating the market was long thought to be impossible, but hedge funds cracked its mysteries and made fortunes in the process. Drawing on his unprecedented access to the industry, esteemed financial writer Sebastian Mallaby tells the inside story of the hedge funds, from their origins in the 1960s to their role in the financial crisis of 2007 to 2009--and explains why understanding the history of hedge funds is key to predicting the future of finance.

Sebastian Mallaby is the author of several books, including More Money Than God and The Man Who Knew: The Life and Times of Alan Greenspan. A former Financial Times contributing editor and two-time Pulitzer Prize finalist, Mallaby is the Paul A. Volcker Senior Fellow for International Economics at the Council on Foreign Relations.