Against the Gods: The Remarkable Story of Risk,
by Peter Bernstein.
The process of investing is all about
risk, and Peter Bernstein, the founding editor of the Journal of
Portfolio Management, has produced a masterpiece on the topic of
risk. This 1996 book contains almost everything anyone ever wanted to
know about the concept of risk, starting with the ancient Greece
philosophers and progressing through centuries of gradual refinements in
scholars’ thinking. Although I wouldn’t normally call a book devoted to
the subject of risk
“gripping,” this is not a normal book. Indeed, it
is a profound work that will be studied and appreciated by graduate
students in finance for the next 50 years. In short, it’s one of the
most fascinating and informative books I’ve ever read. |

ISBN: 0471295639
Format: Paperback, 400pp
Pub. Date: Sept 1998
Publisher: John Wiley & Sons
“Nothing like [Against the Gods] will come out
of the financial world this year or ever. I speak carefully: no
one should miss it.”
John Kenneth Galbraith |