An Excellent read into what happened during Global Financial crisis, how investment management changed and what were the implications. A must read for anyone looking into insights or knowledge of GFC.
“In the pursuit of progress, we are thus seemingly hardwired for both groupthink and innovation. Unfortunately, the interaction of these two—innovation and collective delusion—in the realm of financial markets all too frequently feeds a wave that builds until it can do so no longer, inexorably crashing upon the shore with systemic impact. ”
Download the full book at http://www.cfainstitute.org/learning/products/publications/rf/Pages/rf.v2009.n5.18.aspx