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Chaos Kings

How Wall Street Traders Make Billions in the New Age of Crisis

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Chaos Kings

Von: Scott Patterson
Gesprochen von: Eric Yang
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 Written by a veteran Wall Street Journal reporter, this is a fascinating and “closely observed chronicle of the storm-chasing edgelords of finance and the critics with whom they clash” (The New York Times)—the billion-dollar traders and crisis predictors who strive to turn extreme events into financial windfalls.

There’s no doubt that our world has gotten more extreme. Pandemics, climate change, superpower rivalries, cyberattacks, political radicalization—virtually, everywhere we look there is mayhem bearing down on us, putting trillions of assets at risk.

And at least two factions have formed around how to respond. In Chaos Kings, Scott Patterson depicts how one faction, led by Nassim Nicholas Taleb, bestselling author of The Black Swan, believes humans can never see the big disaster coming. In their view, extreme events—so-called Black Swans—while inevitable, will always catch us by surprise. In 2007, Taleb’s longtime collaborator, Mark Spitznagel, launched the Universa hedge fund, which would go on to make billions protecting investors against unforeseen chaos in the market.

A second faction, which relies on complex formulas, believes looming chaos can be detected. Chief among these risk prognosticators is Didier Sornette, a colorful French mathematician who enjoys riding his motorcycle at speeds in excess of 170 miles per hour. When Sornette looks out from what he calls his Financial Crisis Observatory in Zurich, Switzerland, what he sees are Dragon Kings—punishing events that are unlikely to occur but have probabilities that can be predicted…and defended against.

Which faction is right? All of our financial futures may depend on the answer. “Detailed yet accessible, this will appeal to fans of Michael Lewis’s The Big Short” (Publishers Weekly). Erfolg im Beruf
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Stumbled over it rather by accident following „The Black Swan“ but it opened a broader line of arguments and facts to me than I thought. A severe recommendation!

Very interesting new perspective on things you thought you know.

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This was a good overview of strategies to profit from crises. I knew the ideas of Nassim Taleb, the other ones were new. Will have to relisten to get all out of this.

A good overview of crisis investing

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Not only focuses on the Corona crisis and the funds, but also on where black swans and other on certain events could hide in the future. Fantastic book and a complete recommendation if you are interested in risk, financial markets, or even climate change.

Loved every single second

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