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Fischer Black and the Revolutionary Idea of Finance
Perry Mehrling (Author), Aaron Brown (Author)
9781118203569, Wiley
Paperback / softback, published 27 January 2012
400 pages
23 x 15.4 x 2.8 cm, 0.485 kg
praise for FISCHER BLACK AND THE REVOLUTIONARY IDEA OF FINANCE "The story of Fischer Black. . . . is remarkable both because of the creativity of the man and because of the revolution he brought to Wall Street. . . . Mehrling's book is fascinating." "A fascinating history of things we take for granted in our everyday financial lives." "Mehrling's book is essential reading for anyone interested in the development of modern finance or the life of an idiosyncratic creative genius." "Fischer Black was more than a vital force in the development of finance theory. He was also a character. Perry Mehrling has captured both sides of the picture: the evolution of thinking about the pricing of risk and time, as well as the thinkers, especially this fascinating eccentric, who worked it out." "Although I worked closely with Fischer for nine years at Goldman Sachs and clearly recognized both his genius and the breadth and originality of his ideas, until I read this book, I had only the vaguest grasp of the source of his inspiration and no understanding at all of the source of his many idiosyncrasies." "Perry Mehrling has done a remarkable job of tracing the intellectual and personal development of one of the most original and complex thinkers of our generation. Fischer Black deserved it: a charming and brilliant book about a charming and brilliant man."
FINANCIAL TIMES
THE NEW YORK TIMES
PUBLISHERS WEEKLY
ROBERT M. SOWLO, Nobel laureate and Institute Professor of Economics, Emeritus, Massachusetts Institute of Technology
BOB LITTERMAN, Partner, Kepos Capital
ROBERT E. LUCAS JR., Nobel laureate and Professor of Economics, The University of Chicago
Acknowledgments ix Foreword xv Preface xxi Prologue The Price of Risk 1 ONE Thou Living Ray of Intellectual Fire 23 TWO An Idea in the Rough 49 THREE Some Kind of an Education 73 FOUR Living Up to the Model 99 FIVE Tortuous Economic Intuition 119 SIX The Money Wars 139 SEVEN Global Reach 165 EIGHT Stagflation 189 NINE Changing Fields 215 TEN What Do Traders Do? 231 ELEVEN Exploring General Equilibrium 255 Epilogue Nothing Is Constant 283 Appendix A A Financial Notes Chronology 299 Appendix B A Newsletter Chronology 301 Notes 303 References 327 Index 355
Subject Areas: Finance & accounting [KF]
