Against the Gods: The Remarkable Story of Risk

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John Wiley & Sons, Sep 14, 1998 - Business & Economics - 400 pages
A Business Week, New York Times Business, and USA Today Bestseller

"Ambitious and readable . . . an engaging introduction to the oddsmakers, whom Bernstein regards as true humanists helping to release mankind from the choke holds of superstition and fatalism."
The New York Times

"An extraordinarily entertaining and informative book."
The Wall Street Journal

"A lively panoramic book . . . Against the Gods sets up an ambitious premise and then delivers on it."
Business Week

"Deserves to be, and surely will be, widely read."
The Economist

"[A] challenging book, one that may change forever the way people think about the world."
Worth

"No one else could have written a book of such central importance with so much charm and excitement."
Robert Heilbroner author, The Worldly Philosophers

"With his wonderful knowledge of the history and current manifestations of risk, Peter Bernstein brings us Against the Gods. Nothing like it will come out of the financial world this year or ever. I speak carefully: no one should miss it."
John Kenneth Galbraith Professor of Economics Emeritus, Harvard University

In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one of the central ideas that distinguishes modern times from the distant past. Against the Gods chronicles the remarkable intellectual adventure that liberated humanity from oracles and soothsayers by means of the powerful tools of risk management that are available to us today.

"An extremely readable history of risk."
Barron's

"Fascinating . . . this challenging volume will help you understand the uncertainties that every investor must face."
Money

"A singular achievement."
Times Literary Supplement

"There's a growing market for savants who can render the recondite intelligibly-witness Stephen Jay Gould (natural history), Oliver Sacks (disease), Richard Dawkins (heredity), James Gleick (physics), Paul Krugman (economics)-and Bernstein would mingle well in their company."
The Australian
 

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LibraryThing Review

User Review  - everfresh1 - LibraryThing

Excellent narrative of the history of human attempts to find some order in life and how this became applicable to financial markets. There are no revelations here but rather it shows that we are still ... Read full review

LibraryThing Review

User Review  - BrianFannin - LibraryThing

Excellent overview of probability and the development of financial markets. I take issue with a few points- prospect theory does not obviate the benefits of statistical analysis, for example- but overall a fantastic read. Read full review

Contents

I
1
II
9
III
11
V
xxiii
VI
37
VII
39
VIII
57
IX
73
XVI
172
XVII
187
XVIII
195
XIX
197
XXI
215
XXII
231
XXV
247
XXVII
267

XI
97
XII
99
XIII
116
XIV
135
XV
152
XXVIII
269
XXIX
284
XXX
304
XXXI
329
Copyright

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About the author (1998)

PETER L. BERNSTEIN is President of Peter L. Bernstein, Inc., economic consultants to institutional investors. Mr. Bernstein is the author of six books in economics and finance, including the bestselling Capital Ideas: The Improbable Origins of Modern Wall Street, as well as many articles in the professional and popular press. He is the Editor of The Portable MBA in Investment (Wiley) and was the Founding Editor of The Journal of Portfolio Management.

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