Fischer Black And The Revolutionary Idea Of Finance.

Perry Mehrling

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The definitive story of Fischer Black, one of the greatest financial minds of all time

Besides revolutionizing finance with the Black–Scholes option pricing model, Fischer Black forever changed Wall Street by developing what is now known as quantitative finance. Fischer Black and the Revolutionary Idea of Finance explores Black′s intellectual journey from Harvard to the offices of ADL, from the University of Chicago to MIT, and then to Goldman Sachs. This poignant book tells the story of one man′s intellectual adventure at the very center of modern finance, fully describing the birth of quantitative finance and financial engineering along the way.

  • Years of research and interviews with Black′s business and academic associates, as well as family and friends, are distilled into a scholarly yet personal story of the formation and development of the extraordinary mind and unique character of this unassuming renegade
  • Black deciphered the universe of modern finance in ways that went underappreciated for many years and would have won the Nobel Prize in Economics, if not for his untimely death in 1995
  • Author Perry Mehrling weaves Black′s personal story with the birth of modern finance into a vignette–based business biography that captures the essence of this extraordinary man, explaining, for the first time, the ground–breaking impact Fischer Black had on the worlds of money and finance as well as world markets

This compelling biography of the "Einstein of Finance" follows Fischer Black through his incredible career, from his transition from academia to one of the most elite of firms on Wall Street Goldman Sachs where he developed quantitative models that tens of thousands of professionals still use today. Fischer Black and the Revolutionary Idea of Finance demystifies this genius of finance and provides an engaging and entertaining look at a man whose life′s work encapsulates modern financial theory.

What will you learn from this book

  1. Diverse Investment Strategies: The book covers a wide range of investment approaches, from value investing to growth strategies, and explores how different investors found success using varied methodologies.

  2. Risk Management: Successful investors often prioritize risk management. The book discusses how investors assessed and mitigated risks while seeking opportunities in the market.

  3. Patience and Long-Term Vision: Many stories emphasize the importance of patience and a long-term perspective in investing. Some investors achieved significant returns by staying committed to their investments over time.

  4. Adaptability and Flexibility: The book highlights how successful investors adapted their strategies when faced with changing market conditions or unexpected events, showcasing the importance of flexibility.

  5. Learning from Mistakes: Investors' stories often include lessons learned from mistakes. Understanding and learning from failures are crucial aspects of becoming a successful investor.

  6. Value Creation: Successful investors focus on identifying undervalued assets or companies with growth potential. The book delves into how these investors created value through their investment decisions.

  7. Emotional Discipline: Many stories emphasize the need for emotional discipline in investing. Investors who remain rational and disciplined during market fluctuations tend to fare better.

  8. Innovative Thinking: Some investors achieved success by thinking outside the box or by utilizing innovative investment strategies.

  9. Continuous Learning: Successful investors are avid learners. They continuously educate themselves about markets, industries, and investment strategies.

  10. Philosophies and Principles: The book highlights how each investor often had a unique investment philosophy or set of principles that guided their decision-making.

Language English
ISBN-10 0-471-45732-9
No of pages 374
Font Size Medium
Book Publisher John Wiley & Sons
Published Date 22 Jul 2005

About Author

Author : Perry Mehrling

2 Books

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