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The Alchemy of Finance | [George Soros]

The Alchemy of Finance

George Soros, called "a superstar among money managers" by The New York Times, shares the investment strategies he uses to read the mind of the market.
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Publisher's Summary

George Soros is unquestionably the most powerful and profitable investor in the world today. Dubbed by BusinessWeek as "The Man Who Moves the Markets," Soros has made a billion dollars going up against the British pound. Now, in The Alchemy of Finance, he shares the investment strategies he uses to read the mind of the market.

©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.

What the Critics Say

"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)

What Members Say

Average Customer Rating

3.4 (165 )
5 star
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3.4 (61 )
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3.6 (59 )
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2 star
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1 star
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Performance
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  •  
    Joel Waltham, MA, USA 04-10-05
    Joel Waltham, MA, USA 04-10-05
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    "Interesting but not new"

    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.

    7 of 8 people found this review helpful
  •  
    Jonathan Cedarburg, WI, USA 07-05-06
    Jonathan Cedarburg, WI, USA 07-05-06 Member Since 2004
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    "Disappointing..."

    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.

    9 of 11 people found this review helpful
  •  
    Christopher Berea, OH, USA 08-02-06
    Christopher Berea, OH, USA 08-02-06
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    "Expected more"

    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.

    2 of 2 people found this review helpful
  •  
    Sankar Ponte Vedra Bch, FL, United States 12-20-10
    Sankar Ponte Vedra Bch, FL, United States 12-20-10
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    "Research paper for academicians"

    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

    1 of 1 people found this review helpful
  •  
    ronald Houston, TX, United States 01-27-14
    ronald Houston, TX, United States 01-27-14 Member Since 2013
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    "Did not find book useful in advancing my knowledge"
    Has The Alchemy of Finance turned you off from other books in this genre?

    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.


    You didn’t love this book... but did it have any redeeming qualities?

    I did appreciate the honesty of Mr Soros' approach but feel that chance was the over-ridding factor in his success.


    0 of 0 people found this review helpful
  •  
    William Miller greenwood, in United States 04-15-13
    William Miller greenwood, in United States 04-15-13
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    "insightful work"
    Would you consider the audio edition of The Alchemy of Finance to be better than the print version?

    no


    What was one of the most memorable moments of The Alchemy of Finance?

    Soros' theory that the markets help determine their own fates is well argued.


    Would you listen to another book narrated by Grover Gardner?

    why not?


    What’s an idea from the book that you will remember?

    Market anticipation of a future event may become self-defeating prophecy.


    Any additional comments?

    Alchemy of Finance should be read by anyone interested in economics or financial markets.

    0 of 0 people found this review helpful
  •  
    Ty LA PORTE, TEXAS, United States 04-04-13
    Ty LA PORTE, TEXAS, United States 04-04-13
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    "Soros Reflexivity"
    Where does The Alchemy of Finance rank among all the audiobooks you’ve listened to so far?

    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".


    0 of 0 people found this review helpful
  •  
    Swapnil Mumbai, India 02-11-13
    Swapnil Mumbai, India 02-11-13
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    "Profound concept made quite real"
    Would you consider the audio edition of The Alchemy of Finance to be better than the print version?

    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.


    What was one of the most memorable moments of The Alchemy of Finance?

    Soros talks about the trade on pound.


    What about Grover Gardner’s performance did you like?

    The voice was not too robotic and there were good inflections at suitable points.


    Was this a book you wanted to listen to all in one sitting?

    No. Too many concepts to digest all at once.


    Any additional comments?

    Chapter management could be better if 'Audible' stated titles of chapters instead of chapter 1,2,3 etc.

    0 of 0 people found this review helpful
  •  
    Mark E. Twiz Orange County, CA 04-12-12
    Mark E. Twiz Orange County, CA 04-12-12 Listener Since 2001

    Global Macro Fund Manager and if you haven't guessed by now, this is a "pen name"

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    "Required Reading for New Traders at $8B Hedge Fund"

    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.

    0 of 0 people found this review helpful
  •  
    Darren Epping, Australia 01-09-12
    Darren Epping, Australia 01-09-12
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    "George Soros Bores you at his upmost"
    What would have made The Alchemy of Finance better?

    try burning the book


    Would you ever listen to anything by George Soros again?

    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


    Would you be willing to try another one of Grover Gardner’s performances?

    yes he is ok the poor guy needs an Emmy for patience


    What reaction did this book spark in you? Anger, sadness, disappointment?

    sleep and more sleep after listening to that I want to sleep


    Any additional comments?

    just don't buy this book this book is boring

    0 of 0 people found this review helpful
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