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The Rise of Carry: The Dangerous Consequences of Volatility Suppression and the New Financial Order of Decaying Growth and Recurring Crisis Paperback – Illustrated, 17 December 2019

4.6 out of 5 stars 131 ratings

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Product description

From the Back Cover

How carry trading has shaped the global economic picture--one of decaying economic growth, recurring crises, wealth disparity, and social and political upheaval

"An important and unusual book. Critical not just for investors but for all of society."
- Jeremy Grantham, chairman and co-founder of the investment firm Grantham, Mayo, Van Otterloo Company (GMO)

"An amusing and entertaining analysis of the ubiquity of the carry trade in modern finance."
- Hugh Sloane, co-founder of hedge fund Sloane Robinson.

"A thought-provoking, riveting read that shines much-needed light on an important, but neglected, topic."
- Prof. Steve H. Hanke, Professor of Applied Economics, Johns Hopkins University

"The prevalence of carry in virtually all markets has resulted in the evolution of a global monetary system that is perched on a knife-edge between deflation and high inflation. This is essential reading for central bankers, investors, academics and politicians."
- John Greenwood, Chief Economist, Invesco

"[The authors] describe how [carry trading] has expanded to many corners of the investment world with broad consequences for wealth inequality and financial stability."
- Ronald Kahn, Managing Director, Global Head of Scientific Equity Research, BlackRock

"The Rise of Carry provides the red pill to a system whose grotesque reality will be unmasked through the forces of populism. It isn't an easy read; truth rarely is."
- Henry Maxey, Chief Investment Officer of asset management firm Ruffer

"Carry trades involve picking up nickels in front of a steamroller. Investors who wish to avoid getting flattened should read this book."
- Edward Chancellor, author of Devil Take the Hindmost: A History of Financial Speculation

About the Author

Tim Lee has been a financial market economist for 38 years. He has worked in Hong Kong for GT Management as Asian economist, and in London for GT, LGT, Invesco, and Friends Ivory and Sime as European economist. He set up the independent research consultancy pi Economics in 2003.
Jamie Lee spent four years as research analyst and economist at GMO in Boston, two years as economist and research analyst at Ruffer Asset Management in London, and two years at pi Economics in Connecticut.
Kevin Coldiron teaches the Masters in Financial Engineering course at Berkeley (Haas Business School), having previously had a very successful career in asset management with Barclays Global Investors and the hedge fund Algert Coldiron, which he co-founded.
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Product details

  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 240 pages
  • ISBN-10 ‏ : ‎ 1260458407
  • ISBN-13 ‏ : ‎ 978-1260458404
  • Customer reviews:
    4.6 out of 5 stars 131 ratings

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Most helpful customer reviews on Amazon.com

Amazon.com: 4.7 out of 5 stars 54 reviews
Techie Dad
5.0 out of 5 stars An Important Book To Understand Leading Causes of Inequality, Well-Thought Out, Well-Researched Book
31 January 2020 - Published on Amazon.com
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10 people found this helpful
Zhou Qiao
5.0 out of 5 stars Important work on 'Carry'. Highly Recommend.
15 June 2020 - Published on Amazon.com
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8 people found this helpful
Luke C
5.0 out of 5 stars How everyone became a carry trader (and short vol)
13 April 2020 - Published on Amazon.com
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10 people found this helpful
Kurtis Fechtmeyer
5.0 out of 5 stars Important Book that is Easy to Read
26 July 2020 - Published on Amazon.com
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8 people found this helpful
Vincent
3.0 out of 5 stars Nothing new
17 December 2019 - Published on Amazon.com
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10 people found this helpful