Other People’s Money: The Real Business of Finance Audiobook (Free)

The finance sector of Western economies is too big and attracts too many from the smartest college graduates. Financialization within the last three decades has created a framework that lacks resilience and supports absurd amounts of trading. The financing sector devotes inadequate attention to the search for new investment possibilities as well as the stewardship of existing ones, and much too much to secondary-market coping in existing resources. Regulation has added more to the problems compared to the about OTHER’S Money: The Real Business of Financing solutions.

Why? What is finance for? John Kay, with wide useful and academic experience in the wonderful world of finance, understands the operation of the financial sector better than most. He feels in good banking institutions and effective asset managers, but good banking institutions and effective asset managers aren’t what he views.

In a dazzling and revelatory tour from the financial world since it has surfaced from your wreckage from the 2008 crisis, Kay does not flinch in his criticism: we do need a number of the things that Citigroup and Goldman Sachs do, but we don’t need Citigroup and Goldman to accomplish them. And many of the items completed by Citigroup and Goldman need not be done in any way. The finance sector needs to become reminded of its principal purpose: to manage other people’s cash for the advantage of businesses and households. It really is an aberration when the some of the finest numerical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of additional algorithms for computerized trading in securities. To visit further down that road leads to damage.