Order from a Major Online Bookstore
Ultimate Book Price Comparison Engine
Save Your Time And Money
| AnyBook4Less.com | Order from a Major Online Bookstore |
|
| Home | Store List | FAQ | Contact Us | | ||
| Ultimate Book Price Comparison Engine Save Your Time And Money |
||
 |
Title: Against the Gods: The Remarkable Story of Risk by Peter L. Bernstein ISBN: 0-471-29563-9 Publisher: John Wiley & Sons Pub. Date: 31 August, 1998 Format: Paperback Volumes: 1 List Price(USD): $19.95 |
Average Customer Rating: 4 (111 reviews)
Rating: 3
Summary: You'll Probably Find Parts Interesting (I'm 95% certain)
Comment: Bernstein has written a thorough book that traces the linear progression of man's understanding of probability and risk.
This is a journey that begins with the importatioin of the arabic numbering system to the West and ends with super-computer crunched chaos theory. In between lie the fathers (all men) of mathamatical understanding. These individuals are the story of AGAINST THE GODS. Bernstein survey's the intellectual contrubutions of each as man strives to understood basic probability, the law of large numbers, bell curves, regression analysis, uncertainty theory and everything else you dimly remember from college statistics classes. He spends the latter quarter of the book on risk and probability theory in the financial world, where theorists have developed portfolio analysis, volitility studies, hedging and sidebets and other quantatative market plays.
Credit to the author for balancing his story against the very high probability that much of what these thinkers sought may be unattainable. He frequently mentions the humanity that these people try to explain with laws formulated from observations in the natural world. Although rightly impressed with his intellectual frontiersmen, Bernstein has no problem recognizing that the uncertainty that has always eluded explanation is us and that it helps make life worth living and progress possible.
This book is interesting for what it is. A story of the development of theories. I would have enjoyed more of a focus on the applications of this intellectual progression that led to the development of insurance and financial markets. Though these elements are mentioned often, they provide the backdrop for Bernsteins survey of theory. I suspect another book awaits someone who will reverse the order and use theory as a backdrop for the mechanisms that have allowed the modern economy to flourish and develop. The story of insurance, speculation, the beginning of capital markets, a monied economy and the like spring from the intellectual movements so well chronicled by Bernstein. However, they are not the focus, which has the habit of making the reading dry and sometimes uninteresting to those not captivated by the actual numeric analyses and proofs which are amply offerred over the course of the book.
If you like intellectual history and are looking to tie the building blocks of probability and risk analysis together over the last four centuries than this book may well captivate you. If you are seeking an understanding of how these discoveries were applied to forge the modern economy we now take for granted you will find parts interesting but may well feel that the story is incomplete.
Rating: 3
Summary: History Buffs: Here you go!
Comment: Against the Gods draws you through a vast time span. Peter Bernstein begins with the conception of the Arabic numbeting system, up through present time super speed computers. Although, the history found in this book is interesting, the title leads you to believe it is all about investment risks, however it is more of a history text book than a manual. This book is a story of theories and how they developed. You will learn quite a bit about ancient times and how things evolved into the way that they are now, but do not expect any great help or advice on how to deal with risks in the investment world. Once you get into this book, Bernstein's writing sytle draws you in. The book is interesting enough, Bernstein's knowledge of hisotry is astounding. History Buffs: here ya go!
Rating: 4
Summary: Good outline of the history of risk
Comment: "Against the Gods" is a book outlining the history of risk. The book provides an outline of all the key players and their contribution to risk theory and management. Chronologically, the book begins in ancient times and stretches all the way to the present, where Bernstein delves into the works of modern day risk luminaries. The book is well written and the style is engaging, with the author always managing to find a way to keep the reader entertained as well as informed.
The book does not pretend to be a "how to" guide for risk management, nor should readers treat it as such. Although the book does discuss modern risk management tools such as derivatives, it is devoid of complex technical analysis and its treatment of such devices is limited to outlining their place in the history of risk. Those looking for technical trading analysis should seek elsewhere.
One of the key questions a potential reader of this book should be asking is "Does this book have any practical applications with regards to modern day risk management?" Whilst as mentioned above the book is not a step by step guide, I firmly believe the book is useful insofar as it enables the reader to avoid the pitfalls of the past. For example, capital markets are continually surprising those who hold an unwavering belief in "regression to the mean". The books provides an explanation of what this theory states, how it has been applied and where overzealous disciples have misused this principle in the past. Overall I would recommend this book as an informative and enjoyable read.
 |
Title: Fooled by Randomness: The Hidden Role of Chance in the Markets and in Life, First Edition by Nassim Nicholas Taleb ISBN: 1587990717 Publisher: Thomson Texere Pub. Date: October, 2001 List Price(USD): $27.95 |
 |
Title: When Genius Failed : The Rise and Fall of Long-Term Capital Management by Roger Lowenstein ISBN: 0375758259 Publisher: Random House Trade Paperbacks Pub. Date: 09 October, 2001 List Price(USD): $14.95 |
 |
Title: Extraordinary Popular Delusions & the Madness of Crowds by Charles Mackay ISBN: 051788433X Publisher: Three Rivers Press Pub. Date: 25 July, 1995 List Price(USD): $14.95 |
 |
Title: CAPITAL IDEAS: THE IMPROBABLE ORIGINS OF MODERN WALL STREET by Peter L. Bernstein ISBN: 0029030129 Publisher: Free Press Pub. Date: 29 March, 1993 List Price(USD): $14.95 |
 |
Title: Bull's Eye Investing: Targeting Real Returns in a Smoke and Mirrors Market by John Mauldin ISBN: 0471655430 Publisher: John Wiley & Sons Pub. Date: 16 April, 2004 List Price(USD): $24.95 |
Thank you for visiting www.AnyBook4Less.com and enjoy your savings!
Copyright� 2001-2021 Send your comments
