A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation

Content: ""Contents""
 ""Title""
 ""Copyright""
 ""Dedication""
 ""Preface""
 ""Acknowledgments""
 ""About the Author""
 ""Chapter 1: Introduction: The Paradox of Market Risk""
 ""Chapter 2: The Demons of ’87""
 ""Crunch Time at Morgan Stanley""
 ""The Formula""
 ""My Life as an Insurance Salesman""
 ""Running for the Lifeboat""
 ""Read the Fine Print""
 ""Risk Arbitrage: The Snowball at the Mountaintop""
 ""Ignoring the Cassandras""
 ""A Long Weekend""
 ""The Avalanche Buries the Buyers""
 ""Collateral Damage""
 ""Bad Gamma""
 ""The Physics of the Meltdown"" ""We can see the Future of Markets, And it’s Ugly""""Chapter 3: A New Sheriff in Town""
 ""Searching for Land Mines with their Feet""
 ""The APL Cult""
 ""Out of the Loop""
 ""Chapter 4: How Salomon Rolled the Dice and Lost""
 ""The Roof Caves in on Mortgages""
 ""Thirty Million Over Tokyo""
 ""Shotgun Marriage""
 ""A Lesson in Self-Delusion""
 ""Jack Jumps in""
 ""The Problem with Stocks""
 ""Into the Arms of Travelers""
 ""Chapter 5: They Bought Salomon, then They Killed it""
 ""The Arbs Lose Face""
 ""Good-Bye to Quant Heaven""
 ""Circling Vultures""
 ""The July Fourth Massacre"" ""Rothschild and Waterloo""""Fooling Just About Nobody""
 ""Leverage and the Roots of Crises""
 ""How to Prevent a Liquidity Crisis""
 ""Chapter 6: Long-Term Capital Management Rides the Leverage Cycle to Hell""
 ""Risky Business""
 ""The Deceptive Charms of Relative Value""
 ""Haghani Steps off the Cliff""
 ""The Competition Sticks the Knife in""
 ""What were they Thinking?""
 ""Mirror, Mirror, on the Fall""
 ""Lousy with Leverage""
 ""The Japanese take UBS to the Cleaners""
 ""Ramy Goldstein takes UBS to the Cleaners""
 ""LTCM takes UBS to the Cleaners"" ""Salomon Smith Barney Loses its Nerve""""Chapter 7: Colossus""
 ""Sandy Steps in it with Both Feet""
 ""Standing Tall""
 ""Kindergarten Confidential""
 ""The Consequences of Colossus""
 ""The Numbers are the Issue""
 ""Pacioli Runs the Numbers""
 ""Da Vinci’s Accountant is Still Keeping Our Books""
 ""My Departure from Citigroup""
 ""Chapter 8: Complexity, Tight Coupling, and Normal Accidents""
 ""The Ties that Bind""
 ""The Regulation Trap""
 ""Accidents Waiting to Happen: Interactive Complexity and Tight Coupling""
 ""Tight Coupling and Interactive Complexity: An X-Rated Behavior""