May 31, 2007
Friday Culture: Fischer Black and the Revolutionary Idea of Finance
Today's Friday culture recommendation is Fischer Black and the Revolutionary Idea of Finance by Perry Mehrling. Fischer Black is famously known for developing the Black-Scholes formula for options pricing together with Robert C. Merton and Myron Scholes. Fischer died before he could be awarded the Nobel Prize in Economics for this achievement; instead it went to Merton and Scholes (Merton's consolation prize for not having his name on the formula). Fischer was also famously eccentric, a partner at Goldman Sachs, a professor at the University of Chicago and a central uniting figure in the history of finance. But this is more than just a biography of an impressive man. Mehrling uses Black's life as a vehicle to tell the story of the revolution in finance that took place between 1960 and 1990. And he does so in explainable terms.
Any good M&A lawyer or academic must also understand the financing side of a transaction as well as the underpinning architecture of our financial markets. This is a good way to start such an exploration or otherwise get a solid and interesting refresher. Have a good weekend!
May 31, 2007 | Permalink
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