More Money Than God: Hedge Funds and the Making of a New Elite

by Sebastian Mallaby

“If the efficient markets hypothesis was a publicly traded security, its price would be enormously volatile,”

They need to shift capital out of institutions underwritten by taxpayers and into ones that stand on their own feet. They need to shrink institutions that are too big to fail and favor ones that are small enough to go under.

“Every time I fire a linguist, my system’s performance improves,” he told the naysayers.