Foreword xix
Introduction xxiii
Genesis xxiii
About This Book xxiv
The Financial Industry and the Power of Networks xxv
Applying the Lens of Network Science: Systems Thinking xxvi
Crisis Alert xxvii
Author's Note xxviii
Chapter 1 The Financial Universe: An Innately Human System 1
The Stratosphere of Power: Davos 1
The Orbit of the Financial Elite: The Gravitational Force of Networks 4
The Financial System: Applying the Lens of Network Science 6
The Human Factor: The Power of Personal Connections 7
Introduction: Meet the "Superhubs" 8
Fault Lines: The Fragility of Our Financial System 12
Chapter 2 Superhubs: The Financial Elite and Their Networks 15
The Superhub Prototype: Hedge Fund Titan George Soros 15
A Blueprint for Networks: Nodes, Hubs, and Superhubs-Bankers, Executives, and CEOs 18
Financial Superhubs: Network Equals Networth 21
Network Geography: Location Matters 21
Location: Reputation Matters 22
Reputation: Access Matters 23
Access: Social Capital Matters 25
Chapter 3 The Links That Connect Superhubs: Money, Information, and Opportunities 29
Network Nucleus: Larry Fink 29
Network Power: Money 31
The Printing Presses: Central Banks 32
Federal Reserve Chairman: In Charge of the World's Reserve Currency 34
Central Bank of Central Banks: The Bank for International Settlements 37
A Primer on Banks: Regular and Shadow Banks 37
The Perpetual Crisis Manager: The International Monetary Fund 38
Network Currency: Information 39
The Influence of Personal Connections 41
Information Access and Proximity 42
The Benefit of Connections in Tumultuous Times 45
Thought Leaders-Superhubs of Valuable Information 47
Network Investments: Social Capital 51
Money + Information + Social Capital = Infinite Opportunities 52
Chapter 4 The Matrix: Decoding the Superhub DNA 55
The Alpha Personality: Jamie Dimon 55
EQ: Connecting Emotionally 58
Master Closers: Steve Schwarzman 59
Inquiring Minds 62
Inventing Ideologies 63
The Cult of Failure 64
CEOs-Chief Ego Officers: Bill Gross 65
On a Monomaniacal Mission: Ray Dalio 69
Chapter 5 Homophily: Similarity Breeds Connection 75
The Charitable Superhub Network: The Robin Hood Gala 75
A Law of Nature: Why the Rich Get Richer 77
Global Conquest: The Transnational Financial Elite 77
Meeting of the Minds: Circle of Trust 78
The Hegemony of Homogeneity 79
The IQ Elite: A Masters Degree in Networking 81
Network Plutocracy: "'The Old Boys' Club" 82
That's Rich: Superhubs and Super-Riches 85
The "Flocking Effect": The Superhub Habitat 89
Chapter 6 Executive Networking: Relational Capital 93
The Superhub of Superhubs: Klaus Schwab 93
Friends with Benefits: Capital Networks = Network Capital 97
More an Art than a Science: Attraction + Interaction = Transaction 98
Digital Bits versus Human Touch 99
Beyond Networking: How to Win Friends and Influence People 100
The Alchemy of Chemistry: Charm Offensive 102
The Lords of Networks and Their Creations 103
Negative Notions on Networking 104
Think Tanks: Network Motherboards 105
INET: Connecting the Connected at Bretton Woods 106
Chapter 7 Members Only: The Exclusive Networking Platforms of the Global Super-Elite 109
A Dinner of Consequence: Attack on the Euro 109
Conspiracy Theories: An Explanation for Attempted Explanations 111
Why Networks Need Platforms: Connectivity 112
The Annual Power Circuit: Dispatch from Davos 112
The Global Financial Power Center: The International Monetary Fund 117
Washington, D.C.: The Financial Shadow Capital 117
IMF Meetings in Istanbul: Dancing on the Titanic 118
Power Summit: The Bilderberg Conference 120
Stealth Power: Family Office Gatherings 122
Feeding Off Power: Power Lunches 124
Power Workout: Networking, Working, and Working Out 125
"Superhub-Nobbing": Private Parties 126
The Higher Purpose of Networking: The Charity Circuit 128
Chapter 8 Opportunity Costs: The Downside of the Upside 131
Missing Out on Memorable Moments 131
Stress Test: When Being a Superhub Is Not So Super 133
Married to Their Jobs: Work-Family Life Imbalance 135
Media Madness: Living Under a Microscope 136
Super-Sick: Paying the Ultimate Price 137
Clash of the Titans: Close Combat and Coups d'État 139
Triumph and Defeat: A Turbulent Career 141
Chapter 9 "Womenomics": The Missing Link 147
The Gender Gap: Women Missing in Action 147
The Access Gap: Exclusive Means Excluding 148
The Networking Gap: Schmooze or Lose 151
The Assessment Gap: Performance versus Potential 152
The Wage Gap: Selling Women Short 153
The Failure Gap: Demoting Promotions 154
The Mentoring Gap: Missing Out on Mentoring 154
The Sexism Gap: The Wolves of Wall Street on the Prowl 155
The Resilience Gap: Male Might and Female Feebleness 156
Closing the Gender Gap: Superhub Christine Lagarde 158
Chapter 10 Revolving Superhubs: Creating Network Monopolies 163
Psychological Kidnapping 163
The Revolving Door 164
The Oscillating Megahub: Robert Rubin 165
Open Doors: Tony Blair 170
Cross-Connections: Cooperating Constructively in Times of Crises 172
Launching a President 173
"Legalized Corruption": The Best Democracy Money Can Buy 175
Purchasing Political Protection 175
Relationship Power: Diffusing the Euro Time Bomb 176
Super-Entity: The Capitalist Network That Runs the World 178
Chapter 11 De-Linked: Expulsion and Comeback 181
Sent into Exile: Dick Fuld 181
Shock-Resistant: Larry Summers's Network 184
Meteoric Rise 185
Against All Odds 186
The Bull in Charge of the China Shop 187
Den of Thieves: Mike Milken 190
Complete Network Collapse: Dominique Strauss-Kahn 193
Ponzi Schemes and Sex Scandals: Buddy Fletcher and Ellen Pao 196
Omni-Connected: Michael Klein 203
Chapter 12 Super-Crash: "Executive Contagion" 207
The Crash of a Titan: John Meriwether 207
The Big Picture: Capitalism in Crisis 209
Debt and Financialization 210
Wealth Gap and Inequality 210
Globalization Winners versus Globalization Losers 211
Approaching the Tipping Point 212
When an Irresistible Force Meets an Immovable Object: Brexit 213
The Next Crisis: Systemic Failure and Contagion 214
The Culprit: The Superhubs or the System? 214
Disequilibrium: Superhubs Preventing the System from Correcting Itself 215
'Executive Contagion": Executives Becoming Super-Spreaders of Risk 216
Averting Collapse: Thinking Differently 218
The Growth Premise: A Paradox? 219
Culture: The Value of Our Values 220
Recalibrating the System: Revolution or Evolution? 221
The Law and Ethics 222
Corporate Culture: Psychological Detachment and Willful Blindness 223
Incentives 224
A Sense of Purpose: Creating Value for Society 225
An "Evolving Revolution" 226
Acknowledgments 229
About the Author 233
Notes 235
Index 263