Электронная книга: Peter L. Bernstein «The Power of Gold. The History of an Obsession»

The Power of Gold. The History of an Obsession

The need for realism in reform of its monetary system is what makes Bernstein’s story of the Power of Gold so timely. It is a compelling reminder that maintaining a fixed price for gold and fixed exchange rates were difficult even in a simpler financial environment….Peter Bernstein was reluctant to project the story of gold into the future. But to me his message was clear. Yes, gold will be with us, valued not only for its intrinsic qualities but as a last refuge and store of value in turbulent times. But its days as money, as a means of payment and a fixed unit of account are gone. —From the New Foreword by Paul Volcker This bestselling book reveals a record ofhuman nature in the ubiquity of gold with a new foreword by Paul Volcker In this exciting book, the late Peter L. Bernstein tells the story of history's most coveted, celebrated, and inglorious asset: gold. From the ancient fascinations of Moses and Midas through the modern convulsions caused by the gold standard and its aftermath, gold has led many of its most eager and proud possessors to a bad end. And while the same cycle of obsession and desperation may reverberate in today's fast-moving, electronically-driven markets, the role of gold in shaping human history is the striking feature of this tumultuous tale. Such is the power of gold. Whether it is Egyptian pharaohs with depraved tastes, the luxury-mad survivors of the Black Death, the Chinese inventor of paper money, the pirates on the Spanish Main, or the hardnosed believers in the international gold standard, gold has been the supreme possession. It has been an icon for greed and an emblem of rectitude, as well as a vehicle for vanity and a badge of power that has shaped the destiny of humanity through the ages. Discusses the beginnings of gold as something with magical, religious, and artistic qualities and follows its trail as we progress to the invention of coinage, the transformation of gold into money, and the gold standard Other bestselling books by the late Peter Bernstein: Against the Gods, Capital Ideas, and Capital Ideas Evolving Contemplates gold from the diverse perspectives of monarchs and moneyers, potentates and politicians, men of legendary wealth and others of more plebeian beginnings Far more than a tale of romantic myths, daring explorations, and the history of money and power struggles, The Power of Gold suggests that the true significance of this infamous element may lie in the timeless passions it continues to evoke, and what this reveals about ourselves.

Издательство: "John Wiley&Sons Limited (USD)"

ISBN: 9781118285220

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Peter L. Bernstein

Peter L. Bernstein (b. January 22, 1919) is an American author, economist, and educator.

Early life

Bernstein graduated magna cum laude from Harvard College in 1941 with a bachelor's degree in economics. He was also elected to Phi Beta Kappa.

After serving as a member of the research staff at the Federal Reserve Bank of New York and in a civilian capacity at the Office of Strategic Services in Washington, he joined the United States armed services and rose to the rank of captain in the Air Force in World War II, assigned to the Office of Strategic Services in the European theater.

Career as educator

Bernstein taught economics for many years as an adjunct professor on the Graduate Faculty of the New School for Social Research in New York City.

As investment manager

In 1951, after teaching economics at Williams College and a five-year stint in commercial banking, Peter became Chief Executive of a nationally–known investment counsel firm, where he personally managed billions of dollars of individual and institutional portfolios. The assets under management at the firm had grown more than tenfold by the time he resigned in 1973 to launch Peter L. Bernstein, Inc.

Peter was the first Editor of The Journal of Portfolio Management in 1974, a widely-read scholarly journal for investment managers and academics in the field of finance and investments. He is now Consulting Editor of the Journal.

Also, Bernstein serves on the advisory panel of Robert D. Arnott's investment management firm, Research Affiliates.

Community and institutional service

He served for many years on the Visiting Committee to the Economics Department at Harvard University, as a Trustee and member of the Finance Committee of the College Retirement Equities Fund (CREF), and as a Trustee of the Investment Management Workshop sponsored by the Association for Investment Management & Research’(AIMR).

He lectures widely throughout the United States and abroad on risk management, asset allocation, portfolio strategy, and market history.


Bernstein is the author of ten books in economics and finance and countless articles in professional journals such as The Harvard Business Review and the Financial Analysts Journal, and in the popular press, including The New York Times, The Wall Street Journal, Worth magazine, and Bloomberg publications. He has contributed to collections of articles published by Perseus and FT Mastering, among others.

"Against The Gods: The Remarkable Story of Risk", was published by John Wiley & Sons in September 1996. This book won the Edwin G. Booz Prize for the most insightful, innovative management book published in 1996. In 1998, it was awarded the Clarence Arthur Kelp / Elizur Wright Memorial Award from The American Risk and Insurance Association (ARIA) as an outstanding original contribution to the literature of risk and insurance. The book has sold over 500,000 copies worldwide.

In 1992 "Capital Ideas: The Improbable Origins of Modern Wall Street" was published by The Free Press in Canada and Maxwell Macmillan Internationaland in USA since become a worldwide guide to modern investment theories and practices. "Capital Ideas Evolving", the follow-up to this seminal work, was published in May 2007 by John Wiley and Sons.

"Streetwise: The Best of The Journal of Portfolio Management", edited by Peter L. Bernstein and Frank J. Fabozzi, was published in 1997 by Princeton University Press:

Earlier books include "A Primer on Money, Banking and Gold" (Random House 1965), as well as "Economist on Wall Street" (Macmillan 1970), and "The Price of Prosperity" (Doubleday, 1962), in addition to two books on government finance co-authored with Robert Heilbroner.

Bernstein’s other books are "The Power of Gold: The History of an Obsession", published in the fall of 2000 by John Wiley and Sons, "Wedding of the Waters: The Erie Canal and the Making of a Great Nation", published in 2005 by W.W. Norton & Co.,


*citebook | author=Bernstein, Peter L. | title=Capital Ideas Evolving | publisher=John Wiley & Sons | location=Hoboken, NJ | year=2007 | id=ISBN 0-471-73173-0
*citebook | author=Bernstein, Peter L. | title=Special Real Estate Issue | publisher=Institutional Investor Systems | location=New York | year=2005
*citebook | author=Bernstein, Peter L. | title=Wedding of the Waters: The Erie Canal and the Making of a Great Nation | publisher=W.W. Norton & Co. | location=New York | year=2005 | id=ISBN 0-393-05233-8
*citebook | author=Bernstein, Peter L. | title=The Power of Gold: The History of an Obsession | publisher=John Wiley & Sons | location=New York | year=2000 | id=ISBN 0-471-25210-7
*citebook | last=Bernstein | first=Peter L. | coauthors=Aswath Damodaran | title=Investment Management | publisher=John Wiley & Sons | location=New York | year=1998 | id=ISBN 0-471-19716-5
*citebook | last=Bernstein | first=Peter L. | coauthors=Frank J. Fabozzi | title=Streetwise: The Best of The Journal of Portfolio Management | publisher=Princeton University Press | location=Princeton, NJ | year=1997 | id=ISBN 0-691-01129-X
*citebook | author=Bernstein, Peter L. | title=Against The Gods: The Remarkable Story of Risk | publisher=John Wiley & Sons | location=New York | year=1996 | id=ISBN 0-471-12104-5
*citebook | author=Bernstein, Peter L. | title=The Portable MBA in Investment | publisher=John Wiley & Sons | location=New York | year=1995 | id=ISBN 0-471-10661-5
*citebook | author=Bernstein, Peter L. | title=Capital Ideas: The Improbable Origins of Modern Wall Street | publisher=Maxwell Macmillan International | location=New York | year=1992 | id=ISBN 0-029-03011-0
*citebook | last=Heilbroner | first=Robert L. | coauthors=Peter L. Bernstein | title=The Debt and the Deficit: False Alarms/Real Possibilities | publisher=W.W. Norton & Co. | location=New York | year=1989 | id=ISBN 0-393-02752-X
*citebook | author=Bernstein, Peter L. | title=International Investing | publisher=Institutional Investor Books | location=New York | year=1983
*citebook | author=Bernstein, Peter L. | title=Security Selection and Active Portfolio Management | publisher=Institutional Investor Books | location=New York | year=1978
*citebook | author=Bernstein, Peter L. | title=The Theory and Practice of Bond Portfolio Management | publisher=Institutional Investor Books | location=New York | year=1977
*citebook | author=Bernstein, Peter L. | title=Portfolio Management and Efficient Markets: Theoretical Relevance and Practical Applications | publisher=Institutional Investor Books | location=New York | year=1977
*citebook | author=Bernstein, Peter L. | title=Economist on Wall Street: Notes on the Sanctity of Gold, the Value of Money, the Security of Investments, and Other Delusions | publisher=Macmillan | location=New York | year=1970
*citebook | author=Bernstein, Peter L. | title=A Primer on Money, Banking, and Gold | publisher=Random House | location=New York | year=1965
*citebook | last=Heilbroner | first=Robert L. | coauthors=Peter L. Bernstein | title=A Primer on Government Spending | publisher=Random House | location=New York | year=1963
*citebook | author=Bernstein, Peter L. | title=The Price of Prosperity: A Realistic Appraisal of the Future of our National Economy | publisher= Doubleday | location=Garden City, NY | year=1962


Peter has received three major awards from the Association for Investment Management & Research (AIMR), the key organization for investment managers and analysts:

*The Award for Professional Excellence, AIMR's highest award,
*The Graham & Dodd Award, given annually for the outstanding article in the Financial Analysts Journal for the previous year, and
*The James R. Vertin Award, recognizing individuals who have produced a body of research notable for its relevance and enduring value to investment professionals.


*Peter L Bernstein's Homepage (http://www.peterlbernsteininc.com). Retrieved Jan. 25, 2005

External links

* [http://www.marketthoughts.com/peter_bernstein_capital_ideas.html Book Reviews: Peter Bernstein]

Источник: Peter L. Bernstein

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Peter L. BernsteinThe Power of Gold. The History of an ObsessionThe need for realism in reform of its monetary system is what makes Bernstein’s story of the Power of Gold so timely. It is a compelling reminder that maintaining a fixed price for gold and fixed… — John Wiley&Sons Limited (USD), Подробнее...
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