"An extraordinary . . . inside look into the decision-making process of the most successful money manager of our time. Fantastic."
––The Wall Street Journal

"A breathtakingly brilliant book. Soros is one of the core of masters . . . who can actually begin to digest the astonishing complexity . . . of the game of finance in recent years."
––Esquire

"A seminal investment book . . . it should be read, underlined, and thought about page by page, concept by idea. . . . He’s the best pure investor ever . . . probably the finest analyst of the world in our time."
–– Barton M. Biggs
Director, BKF Capital Group, Inc.

Updated to include a new Preface and Introduction by Soros, and a Foreword by Paul A. Volcker

George Soros is unquestionably the most powerful and profitable investor in the world today. Dubbed by BusinessWeek as "The Man Who Moves Markets," Soros once made a billion dollars by betting that the British pound would be devalued. Soros is not merely a man of finance, but a thinker to reckon with as well. In The Alchemy of Finance, this extraordinary man reveals the investment strategies that have made him "a superstar among money managers"(The New York Times).

The book, which is based on a series of lectures given at the Woodrow Wilson School, gives an inside view of all the significant economic events of the last four decades, including the formation of the new monetary system that was negotiated at Bretton Woods in 1944, the Latin American debt crisis of the 1970s, and the interest rate shocks of the late '70s and early '80s. Anyone interested in understanding the current state of world economic affairs will find Changing Fortunes an extremely useful primer. --Harry C. Edwards

The book, which is based on a series of lectures given at the Woodrow Wilson School, gives an inside view of all the significant economic events of the last four decades, including the formation of the new monetary system that was negotiated at Bretton Woods in 1944, the Latin American debt crisis of the 1970s, and the interest rate shocks of the late '70s and early '80s. Anyone interested in understanding the current state of world economic affairs will find Changing Fortunes an extremely useful primer. --Harry C. Edwards

His interest in public policy and central banking was lifelong. Those who knew him were invariably impressed with the breadth of his vision combined with technical competence, the strength of his convictions combined with a grace and temperance in intellectual combat, the sense of dignity and position combined with a warmth of personal friendship. During his presidency of the "New York Fed", he stimulated a whole generation of Federal Reserve officials to find their careers in central banking and related professions, fostering monetary stability in this country and international economic cooperation. Throughout his "retirement", he continued to support those causes, consulting with those from Presidents on down who sought his judgement.

The volume of his writings, published and unpublished, bears testimony to the scope of his interests and the quality of his thought. A representative selection from these writings is of more than historical interest and a fitting memorial for a great central banker.

With the proliferation of financial instruments, new areas of instability, and innovative capital market strategies, many economists and investors have lost sight of the fundamentals of the financial system—its strengths as well as its weaknesses. A Primer on Money, Banking, and Gold takes you back to the beginning and sorts out all the pieces.

Peter Bernstein skillfully addresses how and why commercial banks lend and invest, where money comes from, how it moves from hand to hand, and the critical role of interest rates. He explores the Federal Reserve System and the consequences of the Fed's actions on the overall economy. But this book is not just about the past. Bernstein's novel perspective on gold and the dollar is critical for today's decision makers, as he provides extensive views on the future of money, banking, and gold in the world economy.

This illuminating story about the heart of our economic system is essential reading at a time when developments in finance are more important than ever.