More Money Than God

published

2011-07-09

rating

3

More Money Than God tells the fascinating story of hedge funds from their development through the recent economic crisis. The reader gets a sense of the personalities of the big players and even a glimpse at some of their trading strategies. Parts of the book can be a bit dry as high-level narratives generally are. It was interesting that the author had a rather positive view toward hedge funds as stabilizing forces that don't need government bailouts, unlike the commercial banks that received bailout funds. Mallaby suggests that the lack of government oversight makes hedge funds better at managing their own risk and thus less dangerous to society.