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The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means
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Binding: Hardcover
Dewey Decimal Number: 332.0973
EAN: 9781586486839
ISBN: 1586486837
Label: PublicAffairs
Manufacturer: PublicAffairs
Number Of Items: 1
Number Of Pages: 208
Publication Date: May 05, 2008
Publisher: PublicAffairs
Studio: PublicAffairs
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Editorial Review:
In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. “This is the worst financial crisis since the 1930s,” writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centers around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.
Customer Reviews
Average Rating: 
Rating:  - Buy it.
This book will take you a long way in understanding what just happened in the financial markets and with the housing bust.
Whether or not you want to buy Soro's theory of 'reflexivity' as 'the new paradigm' is up to you, but he does make the simple and accurate point that any economic theory that had human beings objectively describing the world and then making decisions based on that 'accurate' intelligence is a silly theory.
Market fundamentals? Those are actually our ... Read More
Rating: - Awesome outline
A good summary of Who's Soros and what's his take for the market--past and future. Most helpful is his insight on the big picture, which could lead to good investment ideas even if he doesn't provide any specific tip.
Rating:  - Practical insights and new rules from George Soros
Legendary financier George Soros is worried. The financial markets face the worst credit crisis since the Depression and their existing paradigm needs to be replaced. The new paradigm Soros recommends is based on what he calls the "theory of reflexivity." This book-length essay provides a crash course in the billionaire investor's philosophy and view of financial markets, the origins and consequences of the current credit crunch, the boom-bust model and the behavior of market participants. Soros intersperses ... Read More
Rating:  - Amateur philosophy by a speculator whose success has gone to his head
The core idea of this book is a concept that Soros calls "reflexivity". He describes this concept as "a two way connection between participants' thinking and the situation in which they participate." Reflexivity in the financial markets, according to Soros, leads to "an element of uncertainty in the course of events that is absent from natural phenomena."
What Soros fails to explain is why the uncertainties caused by reflexivity are special and need to be treated differently from other uncertainties ... Read More
Rating:  - No Holy Grail
Having read all of the Soros books I would say this is less convoluted and less disappointing than most. If you are looking for concrete investment ideas prepare to be let down. Interesting discussion of markets and the current crisis in particular-as the title suggests Soros is bearish and not without good reason. Only time will tell if he got it right this time.
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