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The Alchemy of Finance (Wiley Investment Classics)
by: George Soros

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Binding: Paperback
Dewey Decimal Number: 332.6
EAN: 9780471445494
ISBN: 0471445495
Label: Wiley
Manufacturer: Wiley
Number Of Items: 1
Number Of Pages: 416
Publication Date: July 29, 2003
Publisher: Wiley
Sales Rank: 15691
Studio: Wiley

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Editorial Review:

Product Description:
Critical Praise forThe Alchemy of Finance

'The Alchemy of Finance joins Reminiscences of a Stock Operator as a timeless instructional guide of the marketplace.'
––Paul Tudor Jones
From the Foreword to the First Edition

'An extraordinary . . . inside look into the decision-making process of the most successful money manager of our time. Fantastic.'
––The Wall Street Journal

'A breathtakingly brilliant book. Soros is one of the core of masters . . . who can actually begin to digest the astonishing complexity . . . of the game of finance in recent years.'
––Esquire

'A seminal investment book . . . it should be read, underlined, and thought about page by page, concept by idea. . . . He’s the best pure investor ever . . . probably the finest analyst of the world in our time.'
–– Barton M. Biggs
Director, BKF Capital Group, Inc.

Updated to include a new Preface and Introduction by Soros, and a Foreword by Paul A. Volcker

George Soros is unquestionably the most powerful and profitable investor in the world today. Dubbed by BusinessWeek as 'The Man Who Moves Markets,' Soros once made a billion dollars by betting that the British pound would be devalued. Soros is not merely a man of finance, but a thinker to reckon with as well. In The Alchemy of Finance, this extraordinary man reveals the investment strategies that have made him 'a superstar among money managers'(The New York Times).

Customer Reviews

Average Rating: out of 5 stars

Rating:

- Good discussion on feed back loops but fails to deliver solid advice.
How to become a billionaire? don't look here. In the end Soros provides no cookbook ways to become a billionaire. He is very intuitive and that ultimately determines his success. In the book, Soros documents his investment experience as if each is a scientific experiment. The price movement ultimately determines if his theory is correct. If he is wrong he dumps his investment. Extreme discipline. Most of us claim the market (or Mr. Market as Buffet says) is wrong and over time we will be right. Soros claims that price makes its own realities. The way he uses leverage is also a mystery at times he appears to be completely un-leveraged - rare in the hedge fund world.

The only gold in the book is his discussion of feed back loops. This I feel is so relevant to today's financial and real estate crisis. In a rising housing environment Loan to Value ratios go down, this creates success for the lender. ... Read More

Rating:

- hard to follow
Honestly this book was hard to follow and I'm still not sure how Soros does it. He is an excellent thinker but I think this book was over the top for me.

Rating:

- Soros's uncertainty principle is a vague form of Keynesian Uncertainty,not Heisenberg uncertainty
Soros has written a thoughtful and interesting book.However,there is nothing that is new theoretically.It was all said in a much more detailed and specific form in Keynes's A Treatise on Probability(TP;1921),where uncertainty(Soros's uncertainty principle-see pp.6-10,40) was analyzed mathematically using the variable called the weight of the evidence,w, in chapter 26( the weight of the argument in chapter 6 provided the logical analysis).Keynes used the term uncertainty in the GT to denote the same basic phenomenon applied to decision making involving a significant lack of knowledge and information on (a) investment in long lived durable capital goods subject to technological innovation over time(Daniel Ellsberg's nearly identical concept of ambiguity improves on Keynes's completely original formulation),(b)financial markets, and (c)liquidity preference decisions concerning the amount of liquid assets to hold ... Read More

Rating:

- Unreal!!
I ordered the wrong product and I requested that the order be cancelled. I submitted my request on a Friday. I did not get a response until Monday afternoon. My request was made before the ship date but seller would not cancel. Now I have to go through the trouble of returning it.

Poor communication!!!

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