Extreme Money: Masters of the Universe and the Cult of Risk



The Human Race Created Money And Finance Then, Our Inventions Recreated Us In Extreme Money, Best Selling Author And Global Finance Expert Satyajit Das Tells How This Happened And What It Means Das Reveals The Spectacular, Dangerous Money Games That Are Generating Increasingly Massive Bubbles Of Fake Growth, Prosperity, And Wealth While Endangering The Jobs, Possessions, And Futures Of Virtually Everyone Outside Financevirtually In A Category Of Its Own Part History, Part Book Of Financial Quotations, Part Cautionary Tale, Part Textbook It Contains Some Of The Clearest Charts About Risk Transfer You Will Find Anywhere Others Have Laid Out The Dire Consequences Of Financialisation The Conversion Of Everything Into Monetary Form, In Das S Phrase , But Few Have Done It With A Wider Or Entertaining Range Of References Extreme Money Does Reach An Important, If Worrying, Conclusion Financialisation May Be Too Deep Rooted To Be Torn Out As Das Puts It Characteristically Borrowing A Line From A Movie, Inception The Hardest Virus To Kill Is An Idea Andrew Hill Eclectic Guide To The Excesses Of The Crisis Financial Times August 17, 2011 Extreme Money Named To The Longlist For The 2011 FT And Goldman Sachs Business Book Of The Year Award.Extreme Money: Masters of the Universe and the Cult of Risk

Satyajit Das is an international specialist in the area of financial derivatives, risk management, and capital markets He works as a consultant to banks and other financial institutions in Europe, North America, Asia and Australia providing advice on trading, pricing and risk management of derivative transactions Das, as he likes to be called, is well known in Australia, Asia, South Africa and E

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  • Kindle Edition
  • 481 pages
  • Extreme Money: Masters of the Universe and the Cult of Risk
  • Satyajit Das
  • English
  • 13 September 2019

10 thoughts on “Extreme Money: Masters of the Universe and the Cult of Risk

  1. says:

    Extreme Money delves into the realm of financial alchemy and reveals the practices of investment bankers that resulted in the global financial crisis A word of warning this book is not a breezy read It cuts to the nitty gritty of the finance world It s intense and thought provoking, well worth the time of anyone who dares learn about the new financial fundementalism.For the most part, I enjoyed the book I didn t care for the prologue without some foreknowledge of finance, it fell a little flat Part one gives a great introduction on evolving banking practices Part three does a great job of detailing debt, securitization, derivatives, and hedge funds I have no background in finance, and while it was overly technical in some places, I found the book gives quite a good explanation of it Part four is extremely good, even if it makes me want to scream So many you have got to be kidding me moments.One thing I didn t like the text itself feels like it has a serious case of ADHD Das includes many historical examples and literary pop culture tie ins About half of them are illustrative and helpful, but the rest...

  2. says:

    I read Das earlier book Traders, Guns, and Money It was given to me by the owner of a small trading company who has a somewhat pessimistic view of the stock market I really enjoyed that book.To me at times, when reading Extreme Money, it felt like I was rereading parts of Traders, Gun, and Money I haven t gone back to verify, but I m guessing that a lot of the content that provides context around what derivatives are and the historical information before about 2006 are similar to Traders, Guns, and Money because it s all still relevant.That said, I think this was a good book overall Some reviewers have mentioned that it could have been shorter and without some many quotes anecdotes However, part of what I like about this book is that the writing style is somewhat similar to hanging out wit...

  3. says:

    I am anything but economically literate, so it is a positive for this book that I could actually understand it However it is a depressing read and I fear no lessons have been learned from the economic disasters of 2008 It is always worth listening to Das, the economist...

  4. says:

    this book is really long so i didn t read the whole thing not written by or for academics written by a financial consultant who is critical of over leveraging debt and pessimistic about the financial market s overall ability to withstand such practices he is amusing there are lots of anecdotes there are a lot of extremes in the financial market there is moderation as well, which is what i wish we coul...

  5. says:

    Plenty of snark, not enough substanceJDN 2456783 PDT 11 34.A review of Extreme Money by Satyajit DasI had high hopes for this book I ve read quite a few books about the Second Depression now, but this one promised to tie it all together into a coherent narrative about what is wrong with modern capitalism But the narrative it delivers is an unconvincing one, filled with cynicism and pessimism about how this is just the way things are and we will have to accept our fate Das has a weird dissonance in his understanding of the relation between the real and financial economies one moment he ll say that the financial economy is all made up and means nothing, and the next he ll say that because the financial economy failed we must all accept slower growth and reduced standard of living in the real economy He says several times that we must live within our means , apparently not grasping that we have the power to create money out of thin air if we so desire it A lack of money should never be a problem A lack of oil, or a lack of steel, or a lack of trees, or a lack of laborers, or a lack of physicists those could be problems But a lack of money is something the government can change with the strike of a pen If they fail to do so it is not because there is some irredeemab...

  6. says:

    This is an uneven book unevenly written and even unevenly edited that nevertheless succeeds in expressing one well deserved sentiment for contemporary economics and finance contempt The economics professors may have been after some elusive truth but ended up as the piano players in the whorehouse The smart ones cut themselves a share of the action p 57 That is fair an example as any of the way this book is written At most times it is either freshly canning a quote or pulling a previously canned quote off the shelf and inserting it, often nonsensically, in a paragraph about an utterly unrelated event or field of study Only 67 percent of this book is text, with the other 33 percent of the book dedicated to footnotes and appendices An interesting note appears in the beginning of the Notes section, one that lends some insight into the book s unevenness In recent years, the availability of the Internet, online quotation databases, and websites and databases mean that many quotes are readily available online p 384 How else does one explain Tom Sawyer and Captain Ahab and Leonardo DiCaprio making appearances in a book that endeavors to indict modern finance on modern finance s own terms Well, here s a theory about that Satyajit Das, by all accounts a very smart man, set out to write an esoteric treatment of the world s most arcane financial prod...

  7. says:

    I agree with the premise of the book our trust in governments and financiers to manage the show was greatly misplaced The financial markets are run by people whose level of arrogance, greed, self indulgence and voodoo mathematics reached unimaginable levels until the wheels fell off He gives many examples to illustrate the madness, however the book is larger than it needs to be to get his point across and starts to feel a bit self indulgent He waxes lyrical with quotes from great literature, philosophy and history to illustrate the folly of humans which I enjoyed quite a lot but it started to muddy the waters and overshadow the thread of his argument Halve the size of the book and the number of references to unrelated literature and this would have been a much better book for me Don t get me wrong I really like the author and I would highly recommend his interviews, there are a few around He has a great mind, clear thinking, worked...

  8. says:

    This is actually an interesting, worthy book don t let my lowly 3 star rating fool you I actually agree with the author s overall view that, over the last few decades our Randian faith in unfettered markets has led to the creation of a outsized, intensely leveraged financial economy which the author refers to as extreme money that lies on top of, and both lives off of and dominates the real economy that operates underneath, and this arrangement has led to a number of societal ills, including the 2006 09 financial crisis, financial inequality and a severe shrinking of the middle class And the book serves as a useful compendium of all the bad stuff that has befallen the financial world during the last 30 years or so But the author s writing style is maddening, including oftentimes unrelated quotations at the end of ...

  9. says:

    Finally finished slogging through this Rather than a linear narrative, Das provides a series of examples that fit each stage of the financial crisis in which we are still embroiled The book is heavily peppered with quotes from figures in the world of finance as well as celebrities, authors, and others I would prefer a united presentation but the quotes were entertaining for the most part and I finished with a pretty good picture of the level of leverage involved in creating the catastrophe Das does provide helpful diagrams of the various complex tiered investment veh...

  10. says:

    Not finished stalled read Back to the library it goes Here s only a snippet from Das that is pertinent for Australia at the moment.Politics dictated that governments were unable to rein in spending to match the tax cuts to balance the budget Spending was the basis of political patronage and purchased votes In Atlas Shrugged, the politicians come to John Galt, the heroic businessman, for assistance to help repair the economy Galt Your want me to be economic dictator Mr Thompson Ye...

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