Fischer Black and the Revolutionary Idea of Finance

Perry Mehrling 지음

Wiley 2011년 11월 30일 출간

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The definitive story of Fischer Black, one of the greatest financial minds of all timeBesides revolutionizing finance with the Black-Scholes option pricing model, Fischer Black forever changed Wall Street by developing what is now known as quantitative finance. Fischer Black and the Revolutionary Idea of Finance explores Black's intellectual journey from Harvard to the offices of ADL, from the University of Chicago to MIT, and then to Goldman Sachs. This poignant book tells the story of one man's intellectual adventure at the very center of modern finance, fully describing the birth of quantitative finance and financial engineering along the way.Years of research and interviews with Black's business and academic associates, as well as family and friends, are distilled into a scholarly yet personal story of the formation and development of the extraordinary mind and unique character of this unassuming renegadeBlack deciphered the universe of modern finance in ways that went underappreciated for many years and would have won the Nobel Prize in Economics, if not for his untimely death in 1995Author Perry Mehrling weaves Black's personal story with the birth of modern finance into a vignette-based business biography that captures the essence of this extraordinary man, explaining, for the first time, the ground-breaking impact Fischer Black had on the worlds of money and finance as well as world marketsThis compelling biography of the quot;Einstein of Financequot; follows Fischer Black through his incredible career, from his transition from academia to one of the most elite of firms on Wall Streetm-Goldman Sachsm-where he developed quantitative models that tens of thousands of professionals still use today. Fischer Black and the Revolutionary Idea of Finance demystifies this genius of finance and provides an engaging and entertaining look at a man whose life's work encapsulates modern financial theory.

목차

Acknowledgments ixForeword xvPreface xxiPrologue The Price of Risk 1ONE Thou Living Ray of Intellectual Fire 23TWO An Idea in the Rough 49THREE Some Kind of an Education 73FOUR Living Up to the Model 99FIVE Tortuous Economic Intuition 119SIX The Money Wars 139SEVEN Global Reach 165EIGHT Stagflation 189NINE Changing Fields 215TEN What Do Traders Do? 231ELEVEN Exploring General Equilibrium 255Epilogue Nothing Is Constant 283Appendix A A Financial Notes Chronology 299Appendix B A Newsletter Chronology 301Notes 303References 327Index 355

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저자(글) Perry Mehrling

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Perry Mehrling is Professor of Economics at Barnard College of Columbia University. He holds a PhD from Harvard University and is the author of The Money Interest and the Public Interest: American Monetary Thought, 1920~1970, and The New Lombard Street: How the Fed became the Dealer of Last Resort. Dr. Mehrling's specialty is the study of financial theory and the history of economics.