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Other People's Money: The Real Business of Finance

Other People's Money: The Real Business of Finance

Penned By John Kay
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4.85
32,310 Global Ratings
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Other People's Money: The Real Business of Finance

Other People's Money: The Real Business of Finance

Penned By John Kay
4.85 32,310 Ratings
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Editor's Note:
A Financial Times Book of the Year, 2015An Economist Best Book of the Year, 2015A Bloomberg Best Book of the Year, 2015 The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary-market dealing in existing assets. Regulation has contributed more to the problems than the solutions.Why? What is finance for? John Kay, with wide practical and academic experience in the world of finance, understands the operation of the financial sector better than most. He believes in good banks and effective asset managers, but good banks and effective asset managers are not what he sees.In a dazzling and revelatory tour of the financial world as it has emerged from the wreckage of the 2008 crisis, Kay does not flinch in his criticism: we do need some of the things that Citigroup and Goldman Sachs do, but we do not need Citigroup and Goldman to do them. And many of the things done by Citigroup and Goldman do not need to be done at all. The finance sector needs to be reminded of its primary purpose: to manage other people's money for the benefit of businesses and households. It is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of other algorithms for computerized trading in securities. To travel further down that road leads to ruin.

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Length 336 Pages
Language Eng
Released September 1, 2015
Identifier (ISBN) 24612279
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John Kay
The Mind Behind the Work
John Kay

John Kay is the author of several novels. Originally from the East Coast, they now live in the Midwest with family. In addition to writing, John Kay enjoys gardening, cooking, and reading way past bedtime. Their work often explores the complexities of everyday life and human relationships.

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Critical Reception & Reviews

4.85
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Emily Mitchell
Emily Mitchell November 26, 2024
"Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me."
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Nicholas Gonzalez January 11, 2025
"Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
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Mark Roberts
Mark Roberts September 05, 2024
"I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel."
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Stephanie Green September 06, 2024
"Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend."
Deborah Jackson
Deborah Jackson May 15, 2024
"Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
Jennifer Flores
Jennifer Flores February 21, 2024
"Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading."
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Charles Gonzalez
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Andrew Cruz
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"I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
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"Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
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"I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem."
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"Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre."
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"I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
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"A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall."
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"A very strong entry. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel."
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"Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
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"A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
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"A highly sophisticated read. The middle had a deliberate pace, but the climax was phenomenal. A solid 4 stars from me."
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"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
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"A highly sophisticated read. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel."
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"Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. A solid 4 stars from me."
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"Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre."
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"Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece."
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"Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
George Hall
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"Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
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"Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
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"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece."
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"An acceptable diversion. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. A fair 3 stars."
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"Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem."
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"A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre."
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"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me."
Brian Phillips
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"Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem."
Stephanie Mitchell
Stephanie Mitchell November 21, 2024
"An acceptable diversion. It verged on repetitive in the second act. A more concise edit would have served it well. Suitable if your reading queue is empty."
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"I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece."
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Margaret Reyes February 10, 2025
"Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
William Martin
William Martin April 03, 2024
"A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers."
Donald Allen
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"A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
Matthew Allen
Matthew Allen January 10, 2024
"Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
Betty  Parker
Betty Parker June 21, 2025
"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars."
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"Took a moment to build, but the payoff was spectacular. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers."
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"It was adequate. The prose was competent, yet the characters lacked the depth I usually seek. Perfectly average."
Andrew Thompson
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"A very strong entry. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
Margaret Turner
Margaret Turner January 24, 2024
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
Thomas Anderson
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"A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
Eric Sanchez
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"Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
Jessica Brown
Jessica Brown April 02, 2024
"I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall."
Sarah Garcia
Sarah Garcia September 26, 2024
"Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
Emily Robinson
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"Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers."
Emily Jones
Emily Jones February 10, 2024
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
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"Not entirely to my refined tastes. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. A fair 3 stars."
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"Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A solid 4 stars from me."
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"Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
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"A highly sophisticated read. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel."
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"Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars."
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"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
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"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars."
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"Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
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"I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel."
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"A decent, if standard, experience. It verged on repetitive in the second act. A more concise edit would have served it well. Unlikely to reread, but a reasonable expenditure of time."
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"A decent, if standard, experience. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Perfectly average."
Joshua Diaz
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"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre."
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"Excellent, though slightly flawed. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend."
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Jessica Williams January 28, 2024
"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. A solid 4 stars from me."
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"Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre."
Robert Torres
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"Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
Barbara Taylor
Barbara Taylor February 04, 2025
"I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars."
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Nicholas Gomez
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"It was adequate. The prose was competent, yet the characters lacked the depth I usually seek. Suitable if your reading queue is empty."
Ashley Cruz
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"Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece."
Jessica Collins
Jessica Collins October 25, 2024
"Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars."
Jennifer Evans
Jennifer Evans March 25, 2025
"A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
Kimberly Wright
Kimberly Wright May 20, 2025
"Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading."
Thomas Clark
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"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece."
Lisa Rivera
Lisa Rivera September 12, 2025
"A highly sophisticated read. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me."
Mark Martinez
Mark Martinez March 02, 2025
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
Margaret Reyes
Margaret Reyes June 10, 2024
"Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
Sandra Lewis
Sandra Lewis November 04, 2025
"A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem."
Gary Green
Gary Green October 07, 2024
"Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. I would highly recommend this to discerning readers."
Gary Mitchell
Gary Mitchell April 05, 2025
"Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
James Flores
James Flores May 07, 2025
"Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading."
Brian Lee
Brian Lee August 04, 2025
"Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
Stephanie Perez
Stephanie Perez December 04, 2025
"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel."
Patricia Wright
Patricia Wright August 16, 2025
"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
Charles Gomez
Charles Gomez June 11, 2025
"Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
Jacob Jones
Jacob Jones February 18, 2024
"An acceptable diversion. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Unlikely to reread, but a reasonable expenditure of time."
Cynthia Williams
Cynthia Williams March 30, 2024
"A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
Susan Anderson
Susan Anderson May 17, 2025
"Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars."
Barbara Taylor
Barbara Taylor January 24, 2025
"I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
Amanda Baker
Amanda Baker May 10, 2025
"I find myself somewhat conflicted. Certain acts were fascinating, while others felt like a slight endeavor to complete. A fair 3 stars."
Eric Sanchez
Eric Sanchez May 06, 2024
"A highly sophisticated read. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers."
Ashley Martinez
Ashley Martinez October 11, 2025
"Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece."
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