The reader is taken on a fascinating tour of Anglo-American high finance over the past two centuries, with detours into Canadian, German & Japanese finance. As the point of departure for his colourful, panoramic survey, Ron Chernow poses a historic riddle: Why did the great financial dynasties
- the Rothschilds, Barings, Morgans & Warburgs
- flare so brilliantly in the 19th & 20th centuries & then enter into a precipitous decline? Why did such heavyweights give way to more anonymous financial conglomerates, &, most curious of all, why have small investors, banded together in mutual funds, suddenly inherited the financial earth?