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 secondary-market dealing in existing assets. Regulation has contributed more to the problems than the solutions. Why? What is finance ...
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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 secondary-market 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.
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Dispatched, from the UK, within 48 hours of ordering. This book is in good condition but will show signs of previous ownership. Please expect some creasing to the spine and/or minor damage to the cover. Ripped/damaged jacket. The dust jacket of this book is slightly damaged/ripped, however, this does not affect the internal condition.
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Very good in very good dust jacket. First Edition. A hardback First Edition (5th printing) in Very Good or better condition, a few notes (in pen and pecil) to ffe., otherwise Fine, in a Near Fine dustjacket. This book is in stock now, in our UK premises. Photos of our books are available on request (the pictures you see on Alibris are NOT our own). Are you outside UK? Then unless you arrange shipping 'Via Alibris' we WILL cancel your order; this is due to the derisory shipping allowance that Alibris make to sellers for overseas orders.
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Good. Somewhat damaged. May have bumped corner, torn or missing dust cover, folded pages, light dust soil, remainder mark, price sticker, other damage, or be bent. 99% of orders arrive in 4-10 days.
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Pages and cover are intact. Used book in good and clean conditions. Limited notes marks and highlighting may be present. May show signs of normal shelf wear and bends on edges. Item may be missing CDs or access codes. May include library marks.