In a 30-year career equally divided between academics (University of Chicago) and Wall Street, Black contributed seminal papers in almost every area of finance and many areas of economics, but few were published in major peer-reviewed journals and many were never published at all. He spent most of his time alone in a room thinking and writing, was uncomfortable in large groups, an undistinguished lecturer and famously eccentric in ways more irritating than amusing or dramatic. All of this gives Barnard economist Mehrling (
The Money Interest and the Public Interest) his work cut out for him. He has responded with a book that, beyond providing the facts of Black's life, serves as the best currently available general history of the revolution in finance that took place between 1960 and 1990: the essential ideas and disputes are explained clearly, with a minimum of mathematics and jargon, and the relationships among the leading innovators are explored concisely but in depth. As far as Black goes, Mehrling gives a clear picture of his working life and reveals the strong family ties and close personal friendships of a man often thought to have been emotionless. On the whole, Mehrling's book is essential reading for anyone interested in the development of modern finance or the life of an idiosyncratic creative genius.
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“…excellent…” (
getAbstract.com, 7
th November 2005)
“a rigorous but rewarding biography” (CFO Europe, October 2005)
“highly readable” (Benefits & Compensation International, October 2005)
"...well-researched...recommended..." (Accounting Technician, September 2005)
"The story of Fischer Black...is remarkable both because of the creativity of the man and because of the revolution he brought to wall Street.… Mehrling's book is fascinating..." (Financial Times, 12th September 2005)
“…recommended as readable to those with the intellectual curiosity to pursue financial theory…” (The Independent, 30 July 2005)
“… a vignette-based business biography that captures the essence of this extraordinary man…engaging and entertaining…” (Credit Control Journal, July 2005)
In a 30-year career equally divided between academics (University of Chicago) and Wall Street, Black contributed seminal papers in almost every area of finance and many areas of economics, but few were published in major peer-reviewed journals and many were never published at all. He spent most of his time alone in a room thinking and writing, was uncomfortable in large groups, an undistinguished lecturer and famously eccentric in ways more irritating than amusing or dramatic. All of this gives Barnard economist Mehrling (The Money Interest and the Public Interest) his work cut out for him. He has responded with a book that, beyond providing the facts of Black's life, serves as the best currently available general history of the revolution in finance that took place between 1960 and 1990: the essential ideas and disputes are explained clearly, with a minimum of mathematics and jargon, and the relationships among the leading innovators are explored concisely but in depth. As far as Black goes, Mehrling gives a clear picture of his working life and reveals the strong family ties and close personal friendships of a man often thought to have been emotionless. On the whole, Mehrling's book is essential reading for anyone interested in the development of modern finance or the life of an idiosyncratic creative genius. (July) (Publishers Weekly, June 6, 2005)
"A fascinating history of things we take for granted in our everyday financial lives." (The New York Times)
"[Fischer Black and the Revolutionary Idea of Finance] does an exceptional job of capturing Black’s spirit and gives an insightful inside account of the academic financial revolution." (Global Association of Risk Professionals magazine)
"Mehrling skillfully interweaves the stories of Black's career, his sometimes-difficult personal life, and his contributions to finance and to economics . . . In telling the story of Black's life, Mehrling casts light on a crucial, underappreciated aspect of the making of our current world."-Science magazine
"Excellent new biography of Fischer Black, one of the great innovators of modern finance theory. . . Mehrling also provides an engaging history of the development of quantitative finance and a solid introduction to some of its central concepts."--Region Focus, Fall 2005
"By unearthing Black's personal story, Mehrling conjures a unique glimpse into the context in which "the Einstein of finance" viewed liquidity, risk, capital, business cycles -- the world's entire economic equilibrium. Once inside the mind of Black, you may never look at the market the same way again." --Trader Monthly magazine
"Besides being a splendid account of the early and great years of the development of Finance as an academic discipline, and a fascinating biography of an extraordinary but difficult genius, this book made me think and reflect more than almost any other book."--Journal of the History of Economic Thought
"...Wit and insight" ( Financial Management, December 2006)
