Traders, Guns and Money: Knowns and unknowns in the dazzling world of derivatives Revised edition (Financial Times Series) Review

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(More customer reviews)This is not another journalist musing on the financial world. This is not an academic explanation of how financial instruments work. It's something else entirely -- a rare inside glimpse into the world of derivatives by a literate professional who's been a handshake away (or closer) from the major events in the market. Das leavens a series of technical discussions about particular strategies with more entertaining glimpses into the culture the drives the deals. Although I have bones to pick with the book's episodic structure, I can't think of a better way to get a crash course in how the capital markets really work.

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Traders Guns and Money is a wickedly comic expose of the culture, games and pure deceptions played out every day in trading rooms around the world. And played out with other people's money. A sensational insider's view of the business of trading and marketing derivatives, this revised edition explains the frighteningly central role that derivatives and financial products played in the global financial crisis. This worldwide bestseller reveals the truth about derivatives: those financial tools memorably described by Warren Buffett asfinancial weapons of mass destruction'. Traders, Guns and Money will introduce you to the players and the practices and reveals how the real money is made and lost.The global financial crisis took almost everyone by surprise and even now new problems keep appearing and solutions continue to be elusive. In the original version of Traders, Guns and Money, Satyajit Das provided a highly prescient insight into the structure and risk of the world financial system exposing the problems that are becoming readily apparent.In a 2006 speech The Coming Credit Crash Das argued that: "an informed analysis shows that risk is not better spread but more leveraged and (arguably) more concentrated . This does not improve the overall stability and security of the financial system but exposes it to increased risk of a "crash".

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