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High-Flying Finance: The Wall Street elite can make the planet tremble
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Book Chapter
High-Flying Finance: The Wall Street elite can make the planet tremble
2011,2012
Overview
This chapter discusses how finance has evolved throughout the years. The business of buying and selling stocks and bonds began modestly and exploded into prominence with the great expansion of the railroads around the time of the Civil War. The reason is clear enough. Laying track across great stretches of land and manufacturing the engines and cars to fill the track was horrendously expensive. To finance it, railways sold stocks and bonds in great volumes. They are mutual funds for small groups of wealthy people and institutions, including at times pension funds and university endowments that are willing and able to go beyond the bounds of conventional investing. The chapter also provides an introduction to hedge funds. They are mutual funds for small groups of wealthy people and institutions, including at times pension funds and university endowments that are willing and able to go beyond the bounds of conventional investing.
Publisher
John Wiley & Sons, Incorporated,John Wiley & Sons, Inc
Subject
ISBN
9781118118061, 1118118065
