>Jeremy M. Josse
Dinosaur Derivatives And Other Trades
“[Josse’s] exploration of the philosophical DNA of concepts of risk, value, contracts, fraud, and finance writ large starts like an itch that won’t go away and needs scratching, each vignette and chapter pulling the reader in more deeply into a discussion of the evolution of finance that I now find important and fascinating–thanks to this book.”
“A compelling, interdisciplinary journey into the arcane world of finance. Josse takes a dry topic and through modern day stories and historical references deftly educates and entertains. Each topic is intricately analyzed and then all the thoughts are threaded into a coherent and unique perspective and understanding of finance as both a science and reflection of underlying societal norms. I strongly recommend this book to practitioners and students who wish to understand finance in the context of global business and its impact on society.”
“Jeremy Josse’s book takes you on a wild ride–from Dinosaurs to Joseph’s dream (the one speculator in history that had a direct line to the Almighty), from Macbeth to English ships at the end of the 19th century, from Lehman brothers to Ferraris, and from Talmudic scholars to antique map dealers. Faust, Marx and Atlantis (the lost continent) also appear in a slew of entertaining stories and philosophical musings which illustrate financial concepts such as derivatives, contracts, uncertainty, taxes and ownership. Josse has some strong views based on his many years of experience in the market… You may not always agree, but will always be entertained, informed and want to keep on reading.”
Dinosaur Derivatives and Other Trades
Jeremy Josse
This edition first published 2015
© 2015 Jeremy Josse
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ISBN 978-1-119-01959-6 (paperback) ISBN 978-1-119-01961-9 (ebk)
ISBN 978-1-119-01963-3 (ebk) ISBN 978-1-119-01960-2 (obk)
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Dedication
To Muriel
About the Author
Jeremy Josse has spent the last 20-plus years of his career working as an executive in some of the world's leading financial institutions, including Schroders, Citigroup and Rothschild.
Josse was born in London, England, and earned his BA degree in Philosophy and Economics at Trinity College, Oxford University. He subsequently did a master's degree at University College, London University, in Political Philosophy/Economics, as well as qualifying as a banking attorney.
Josse's earliest thesis work at Oxford and London University related to certain theories of meaning as they pertained to economics. He has published numerous articles on a wide range of financial subjects including the credit crisis, bank restructurings, and financial engineering.
Josse lives with his wife, Muriel, and three boys in New York City.
Acknowledgments
My first acknowledgment for a book like this really goes to the finance profession itself. It is a very old profession that is at once fascinating and engaging, yet suffers from a perennial existential crisis – what is the point of it all? But for this dichotomy, the book would simply not have been possible. I suppose this conflict can be said of many things in life, but it seems to me to be particularly acute in the finance world. I could not have committed (nor continue to commit) myself for so long to this industry if it were not compelling and important. Equally, it would be disingenuous not to recognize the periodic absurdities of the whole undertaking. It is therefore, the very nature of finance itself that engendered the issues touched on in this book – hence I am thankful to the industry for that.
However, my first human acknowledgment must go to Ed Claflin. Ed is nominally referred to as my agent, but he has been much more than that to me. Ed reviewed every word of the book numerous times and there is not a single paragraph that he did not have some impact on. He is also a long-time master of the publishing industry (another puzzling business), a wise old bird and he has carefully advised me on all aspects of the book's production. In the course of this process, Ed has also become a personal friend.
Ed introduced me to the Wiley publishing team and they too have been huge supporters and enablers of this book. First and foremost, I refer to Thomas Hyrkiel, who from the beginning became the book's sponsor and pushed it through all the way from contract to final production. Thomas, like Ed, saw the potential at
