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

A Demon of Our Own Design is a groundbreaking book that delves into the inner workings of Wall Street's financial markets, revealing the hidden risks and dangers that threaten our economy.

Written by a seasoned risk manager with decades of experience on the street, this book provides a front-row seat to some of the most significant market crashes in recent history, including the 1987 crash and the demise of Long-Term Capital Management. With unparalleled insight, Bookstaber sheds light on the innovations that have contributed to the current state of the markets, highlighting the unintended consequences of well-meaning regulations and the devastating impact of elite and highly leveraged hedge funds.

Through gripping narratives and incisive analysis, he shows how even the most sophisticated financial institutions have been caught off guard by the latest market crashes. More than just a retelling of recent events, A Demon of Our Own Design offers a prophetic warning about the future of our financial system.

By understanding the root causes of these crises, readers can better prepare themselves for the next market downturn and make informed decisions about their investments.

Whether you're an investor, a policymaker, or simply someone interested in the workings of Wall Street, this book is essential reading for anyone who wants to understand the true nature of risk in our financial system.