Summary:
The book provides a comprehensive history of hedge funds, tracing their evolution from the 1960s to the early 21st century, and examines the strategies and personalities of key fund managers who have achieved significant wealth and influence. It also explores the impact of hedge funds on the global financial system, including their role in financial crises and their complex relationship with regulation.
Key points:
1. Hedge Funds Explained: The book discusses hedge funds, investment tools that gather capital from accredited investors to achieve high returns. Despite their risky reputation, Mallaby believes they can stabilize the financial system.
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