American · b. 1919
Peter L. Bernstein was an American financial historian and economist best known for Against the Gods, a landmark history of risk, and Capital Ideas.
Peter L. Bernstein was an investment manager, economist, and prolific writer who brought deep historical perspective to questions of finance and risk.
His acclaimed Against the Gods: The Remarkable Story of Risk traces how humanity learned to understand and measure risk, from ancient gambling to modern finance, in a sweeping intellectual history. His Capital Ideas chronicled the rise of modern financial theory. Both became classics admired by investors and general readers alike.
Bernstein is remembered for illuminating the ideas behind finance with erudition and narrative flair, making complex concepts both meaningful and accessible.
by Peter L. Bernstein
The history of probability and risk management — from Pascal and Fermat's correspondence on gambling through the development of modern portfolio theory, the Black-Scholes formula, and derivatives. Bernstein argues that the mastery of risk is the defining achievement of the modern world.
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