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From 1987 to 1992, a small group of Wall Street quants invented an entirely new way of managing risk to maximize success: risk management for risk-takers. This is the secret that lets tiny quantitative edges create hedge fund billionaires, and defines the powerful modern global derivatives economy. The same practical techniques are still used today by risk-takers in finance as well as many other fields. Red-Blooded Risk examines this approach and offers valuable advice for the calculated risk-takers who need precise quantitative guidance that will help separate them from the rest of the pack.
While most commentators say that the last financial crisis proved it's time to follow risk-minimizing techniques, they're wrong. The only way to succeed at anything is to manage true risk, which includes the chance of loss. Red-Blooded Risk presents specific, actionable strategies that will allow you to be a practical risk-taker in even the most dynamic markets.
There are people who disapprove of every risk before the fact, but never stop anyone from doing anything dangerous because they want to take credit for any success. The recent financial crisis has swelled their ranks, but in learning how to break free of these people, you'll discover how taking on the right risk can open the door to the most profitable opportunities.
AARON BROWN is risk manager at AQR Capital Management and the author of The Poker Face of Wall Street (Wiley), selected one of the ten best books of 2006 by BusinessWeek, and A World of Chance with Reuven and Gabrielle Brenner. In his thirty-year Wall Street career, he has been a trader, portfolio manager, head of mortgage securities, and risk manager for institutions including Citigroup and Morgan Stanley. He also served a stint as a finance professor and was among the top poker players in the world during the 1970s and 1980s. He holds degrees in applied mathematics from Harvard and in finance and statistics from the University of Chicago.
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Randomly stumbled upon this book and I am shocked that I haven’t heard about it before. It’s hands down the best story I’ve read in years. People need to read this book. It needs to be turned into a book. This story is just plain awsome. M
This soulful book of personal poetry brought me into the past and into the present---and into my heart.
Read the first book and this 2nd one did not disappoint! Loved every chapter. More please!
Like it was written by George Santos
Received an Advanced Reader Copy from a friend. I am an avid true crime reader and upon completion I question if the author is credible. The timeline does not add up for his age and the times of his alleged involvement in organized crime. Some of the things in the book he is alleged to have said and done I remember almost word for word from movies I had previously watched. He literally stole a scene from the movie the accountant with Ben Affleck and said that he did it. I did a little research after completing the book and learned that this author was also claiming in 2010 that he was a long time member of the Bloods Gang. That coupled with the above leads me to believe that it is nothing more than fantasy. Do not waste your time or money
Like it was written by George Santos
Received an Advanced Reader Copy from a friend. I am an avid true crime reader and upon completion I question if the author is credible. The timeline does not add up for his age and the times of his alleged involvement in organized crime. Some of the things in the book he is alleged to have said and done I remember almost word for word from movies I had previously watched. He literally stole a scene from the movie the accountant with Ben Affleck and said that he did it. I did a little research after completing the book and learned that this author was also claiming in 2010 that he was a long time member of the Bloods Gang. That coupled with the above leads me to believe that it is nothing more than fantasy. Do not waste your time or money