Title
Other People'S Money
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The Finance Sector Of Western Economies Is Too Large And Attracts Too Many Of The Smartest College Graduates. Financialization Over The Past Three Decades Has Created A Structure That Lacks Resilience And Supports Absurd Volumes Of Trading. The Finance Sector Devotes Too Little Attention To The Search For New Investment Opportunities And The Stewardship Of Existing Ones, And Far Too Much To Secondarymarket Dealing In Existing Assets. Regulation Has Contributed More To The Problems Than The Solutions.Why? What Is Finance For? John Kay, With Wide Practical And Academic Experience In The World Of Finance, Understands The Operation Of The Financial Sector Better Than Most. He Believes In Good Banks And Effective Asset Managers, But Good Banks And Effective Asset Managers Are Not What He Sees.In A Dazzling And Revelatory Tour Of The Financial World As It Has Emerged From The Wreckage Of The 2008 Crisis, Kay Does Not Flinch In His Criticism: We Do Need Some Of The Things That Citigroup And Goldman Sachs Do, But We Do Not Need Citigroup And Goldman To Do Them. And Many Of The Things Done By Citigroup And Goldman Do Not Need To Be Done At All. The Finance Sector Needs To Be Reminded Of Its Primary Purpose: To Manage Other People'S Money For The Benefit Of Businesses And Households. It Is An Aberration When The Some Of The Finest Mathematical And Scientific Minds Are Tasked With Devising Algorithms For The Sole Purpose Of Exploiting The Weakness Of Other Algorithms For Computerized Trading In Securities. To Travel Further Down That Road Leads To Ruin. A Financial Times Book Of The Year, 2015An Economist Best Book Of The Year, 2015A Bloomberg Best Book Of The Year, 2015
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- Q: What is the main theme of 'Other People's Money'? A: 'Other People's Money' explores the critical flaws in the finance sector, highlighting how financialization has led to a lack of resilience and an overemphasis on secondary-market trading rather than genuine investment opportunities.
- Q: Who is the author of 'Other People's Money'? A: The author of 'Other People's Money' is John Kay, who has substantial practical and academic experience in the financial sector.
- Q: When was 'Other People's Money' published? A: 'Other People's Money' was published on September 27, 2016, and is available in a reprint edition.
- Q: What is the condition of the book? A: 'Other People's Money' is sold in new condition, ensuring that readers receive a pristine copy.
- Q: How many pages does 'Other People's Money' have? A: 'Other People's Money' consists of 353 pages, providing an in-depth analysis of the finance sector.
- Q: What category does 'Other People's Money' fall under? A: 'Other People's Money' is categorized under Economic Policy & Development, making it relevant for readers interested in finance and economics.
- Q: What criticism does John Kay offer in 'Other People's Money'? A: In 'Other People's Money', John Kay critiques the finance sector for focusing excessively on trading and secondary markets, rather than effective asset management and investment stewardship.
- Q: Is 'Other People's Money' suitable for those new to finance? A: 'Other People's Money' provides insights into the finance sector that can be useful for both newcomers and seasoned professionals, though some prior knowledge of financial concepts may enhance comprehension.
- Q: What notable recognitions has 'Other People's Money' received? A: 'Other People's Money' was recognized as a Financial Times Book of the Year, an Economist Best Book of the Year, and a Bloomberg Best Book of the Year in 2015.
- Q: What type of binding does 'Other People's Money' have? A: 'Other People's Money' is available in paperback binding, making it a portable and accessible choice for readers.