The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means
by: George Soros
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Product Description:
In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. “This is the worst financial crisis since the 1930s,” writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centers around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.
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Customer Reviews
Average Rating:
Rating: 
- Soros' Theory of Reflexivity Isn't a Theory At All
Book Summary - One Good Point
Save your money and I summarize the one valuable nugget to be mined from this book: It's impossible to predict financial markets using scientific statistical based theories (as all financial experts try to do) because those theories are part of what you're trying to predict. (i.e. they are reflexive in that they refer to themselves.) Thus financial markets are inherently unpredictable.
Other authors, I have Taleb's "The Black Swan" in mind here, ... Read More
Rating: 
- Excellent book
Amazing! This book manages to speak about complicated things like credit derivatives and bubbles in prices in a fairy simple way. Chapters on philosophical concepts are interesting but not that clear.
In any case, no matter what your background is, if you are interested in reading something meaningful about current crisis - that is your first choice!
Rating: 
- I have read them all
I have read all of the latest books on the financial crisis.I can say without fear of contradiction that this is the worst of them all. It generates literally no insights into the crisis.It is the work of a wanna be philosopher who"s money making ability over the years has generated a market for his pseudo-philosophical assessments of the world.
Rating: 
- Tenderness of the wolf.
My main purpose to read this book was to get a better understanding of Soros' theory of Reflexivity.I find it a true theory, while writing-wise he is repeating himself a few times in the book.
What is important to keep in mind, though, is that he is the GREATEST market speculator, and therefore anything he says should be taken with a suspicion.
Someone who is so well educated in economics definitely knows that oversupply leads to price depreciation.Yet at the end of the book, ... Read More
Rating: - Interesting, readable, novel concepts.
George wants to share his theories. They are good theories. He is a great practical philosopher and he likes to see novel concepts and give them new names. He is so right, it is so important to do so. This is what makes this book worthwhile. George has also given a lot back to this sad old world, I read elsewhere, but this book is not about that.
Apparently economists like to pretend that they are all caring and sharing and give out accurate information and that events tend to equilibrium like ... Read More
- Soros' Theory of Reflexivity Isn't a Theory At AllBook Summary - One Good Point
Save your money and I summarize the one valuable nugget to be mined from this book: It's impossible to predict financial markets using scientific statistical based theories (as all financial experts try to do) because those theories are part of what you're trying to predict. (i.e. they are reflexive in that they refer to themselves.) Thus financial markets are inherently unpredictable.
Other authors, I have Taleb's "The Black Swan" in mind here, ... Read More
- Excellent bookAmazing! This book manages to speak about complicated things like credit derivatives and bubbles in prices in a fairy simple way. Chapters on philosophical concepts are interesting but not that clear.
In any case, no matter what your background is, if you are interested in reading something meaningful about current crisis - that is your first choice!
- I have read them allI have read all of the latest books on the financial crisis.I can say without fear of contradiction that this is the worst of them all. It generates literally no insights into the crisis.It is the work of a wanna be philosopher who"s money making ability over the years has generated a market for his pseudo-philosophical assessments of the world.
- Tenderness of the wolf.My main purpose to read this book was to get a better understanding of Soros' theory of Reflexivity.I find it a true theory, while writing-wise he is repeating himself a few times in the book.
What is important to keep in mind, though, is that he is the GREATEST market speculator, and therefore anything he says should be taken with a suspicion.
Someone who is so well educated in economics definitely knows that oversupply leads to price depreciation.Yet at the end of the book, ... Read More
- Interesting, readable, novel concepts.George wants to share his theories. They are good theories. He is a great practical philosopher and he likes to see novel concepts and give them new names. He is so right, it is so important to do so. This is what makes this book worthwhile. George has also given a lot back to this sad old world, I read elsewhere, but this book is not about that.
Apparently economists like to pretend that they are all caring and sharing and give out accurate information and that events tend to equilibrium like ... Read More
