©1987, 1994 by George Soros; Published by Arrangement with John Wiley & Sons, Inc.; (P)2000 by Penton Overseas, Inc. Published by Penton Overseas, Inc. and Audio Scholar, Inc.
"An extraordinary...inside look into the decision-making process of the most successful money manager of our time. Fantastic." (Wall Street Journal)
"Breathtakingly brilliant." (Esquire)
George Soros comes across as a pompous billionaire who lacks the technical skills required to express his grandiouse 'Theory of Reflexivity' in general terms. However, the book did provide an interesting view of George Soros' career and some of the manias and panics he has profited from over the last few decades.
The book 'Manias, Panics, and Crashes' by Charles Kindleberger covers the same material and is easier and more enjoyable to read.
Soros explains early on that the book will not explain how to make money in the stock market. This is quite true. As mentioned by others, he expounds on his Theory of Reflexivity, without really enlightening the reader. He states, for instance, that market movements cannot be studied scientifically, because the market movements themselves affect future movements and the observers are also participants (traders). Yet there are vast areas of studies (eg. Chaos theory, differential equations, dynamic systems analysis) that deal with just such topics and systems. None of these is explored or even mentioned. One quickly realizes that Soros lacks the scientific background to develop or even reasonably explain the vague generalities that comprise his "theory". Anyone with a passing interest in the functioning and movements of the stock market will not be enlightened by this tome.
Decent high level review of his Theory of Reflexivity, but not much beyond that. I expected to get more insight into the details of his approach to decision making. He's an interesting fellow who has had incredible financial success and he is trying to improve the world around us, but I felt that I wasted the time I spent listening to this book.
Research paper for academicians is what this book is. I bought this book with an idea getting some insight into George Soros investment style, his failures, success and to understand his decision making process. What this book offers is an explanation of how the author thinks the market works and explains this in technical terms. Most of it went over my head. This is not for an average investor. Someone doing a research on financial markets could glean something meaningful from the book
No, I have found other books on the market very interesting. For instance, Irrational Exuberance, A Random Walk and Security Analysis would stay on my bookshelf. Had I purchased a hard copy of this book, I don't think I would have kept it in my library of useful resources.
I did appreciate the honesty of Mr Soros' approach but feel that chance was the over-ridding factor in his success.
Soros' theory that the markets help determine their own fates is well argued.
Market anticipation of a future event may become self-defeating prophecy.
Alchemy of Finance should be read by anyone interested in economics or financial markets.
I think this book is great for anyone wanting to learn about the Macro side of teh world. Soro's describes his own personal perspective of markets. When learn the basis of reflexivity and how to use it as a tool to protect ourselves but also, expose ourselves. He goes well beyond saying, "buy when there is blood in the streets". I believe this is a fascinating book which has helped me personally on a philosophical level of investing. Even when he describes his ability to pick the market, he says, "its down right dismal". But understanding his own flaws was something most intellectuals fail to do.
All in all great book. I listen to it every two months or so to remind me to keep my eyes out for the macro moves, "the big picture".
I am not sure. On one hand, it allowed me the flexibility of listening to it during my commute. On the other hand, it was difficult to go over a specific concept multiple times. Also in some places, a graphic might have helped. I am not sure if the print version has any.
Soros talks about the trade on pound.
The voice was not too robotic and there were good inflections at suitable points.
No. Too many concepts to digest all at once.
Chapter management could be better if 'Audible' stated titles of chapters instead of chapter 1,2,3 etc.
Global Macro Fund Manager and if you haven't guessed by now, this is a "pen name"
Absolute crucial reading for any global macro fund manager worth his weight. If you're managing large sums and haven't read this book, keep your CV circulating.
try burning the book
can any one be so boring when one wonders what make this man tick you seek to read his thoughts. what you get is a meglomanic who is so full of his own importance you cant wait to find the off button , certainly the kind of book to listen to if you want to watch paint dry at the same time I cannot believe that they actually made some one sit down and edit this work the poor soul must be in a palative care unit by now sipping green tea any way stay clear of this book buy anything but do not waste your money on understanding George Soros his is boring as bat sht
yes he is ok the poor guy needs an Emmy for patience
sleep and more sleep after listening to that I want to sleep
just don't buy this book this book is boring
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