TY  - BOOK
AU  - Mehrling,Perry
TI  - Fischer Black and the revolutionary idea of finance
SN  - 0471457329
AV  - HG172.F565 M44 2005
U1  - 332.092 22
PY  - 2005///]
CY  - Hoboken, N.J.
PB  - John Wiley & Sons
KW  - Black, Fischer,
KW  - Finance
KW  - United States
KW  - History
KW  - 20th century
KW  - Economists
KW  - Biography
KW  - Mathematical models
KW  - Investments
N1  - Includes bibliographical references (pages 327-353) and index; Thou living ray of intellectual fire -- An idea in the rough -- Some kind of an education -- Living up to the model -- Tortuous economic intuition -- The money wars -- Global reach -- Stagflation -- Changing fields -- What do traders do? -- Exploring general equilibrium
N2  - "In December of 1997, Robert Merton and Myron Scholes took the stage in Stockholm to accept the Nobel Prize in Economics. Absent from the podium was Fischer Black, the "Black" of the famous Black-Scholes options pricing formula, the formula that was to the derivatives revolution in finance what the discovery of the structure of DNA was to biotechnology. Black had died in 1995, two years short of the ultimate accolade." "Although the options formula made him famous, it was only one of Black's numerous contributions to finance, including portfolio insurance, commodity futures pricing, bond swaps and interest rate futures, and global asset allocation models that have become standard in the world of finance. Amazingly, he did it all despite having no formal training in finance or economics, and despite spending the bulk of his career in business settings. Certainly the most notable non-academic theoretician of modern finance, Fischer Black was one of a kind." "Fischer Black and the Revolutionary Idea of Finance tells the story of one man's intellectual adventure at the very center of modern finance. It is a story about the birth of quantitative finance and financial engineering. It is also the story about the continuing human quest to defeat the "dark forces of time and ignorance," as John Maynard Keynes famously put it. In 1995, the dark forces caught up with Fischer himself, but his quest lives on."--BOOK JACKET
ER  -