Sebastian Mallaby News
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What books have high-profile readers been enjoying this year?
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Thomas Steyer, the founder of $20 billion hedge fund Farallon Capital Management LLC, will exit the firm after more than a quarter century to focus on public service, leaving Andrew Spokes as the sole managing partner.
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John Paulson, founder of Paulson & Co., one of the world’s largest hedge funds, has close-cut black hair, dark eyes and a soft voice. There’s a fuss when he arrives, befitting a man who made one of the biggest fortunes in Wall Street history, as his general counsel and PR consultant jostle for seats next to him.
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Hedge-fund billionaires are envied and hated, demonized and mocked. Their outlandish behavior hasn’t done much for their image, as Sebastian Mallaby shows in “More Money Than God,” a history of the alpha males who play the alpha game.
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The leader of the world’s largest economy may have limited influence on the biggest current threat to the global recovery, the main topic for a two-day Group of 20 summit in France.
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Money can be dull. There are only so many denominations, and only so many ways to make it. What’s interesting are the people who risk it, and over the past four decades no one has made more of a spectacle of risk than George Soros, whose Quantum fund famously bet $10 billion that the Bank of England would be forced to devalue the pound. Soros earned $1 billion on that trade and incalculable legend points.
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Raghuram G. Rajan ’s “Fault Lines,” a look at why the financial order is prone to blowing bubbles, won the Financial Times and Goldman Sachs Business Book of the Year Award , defeating Andrew Ross Sorkin and other authors on the financial crisis.
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Germany, a towering beneficiary of the euro, keeps sabotaging efforts to save the single currency. To understand why, pick up Daniel Kahneman’s imposing new book, “Thinking, Fast and Slow.”
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George Soros, the billionaire best known for breaking the Bank of England, is returning money to outside investors in his $25.5 billion firm, ending a career as hedge-fund manager that spanned more than four decades.
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Meet Mickey Cohen, a hedge-fund hero in January 2007.
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