Preliminaries -- Contents -- Introduction -- 1 The growth of modern financial markets -- 2 Market theory -- 3 Derivatives and leverage -- 4 Temples to risk management -- 5 Models for Everyman -- 6 Credit models get a thrashing -- 7 The rise of the firm wide risk manager -- 8 Basel 2 is born a new regulatory regime -- 9 In praise of liquidity funding and time horizons -- 10 ART exhibitions -- 11 Sibylline books -- 12 The play's the thing -- 13 What lies ahead -- 14 Lessons from Metallgesellschaft -- 15 Lessons from the collapse of Long Term Capital Management -- 16 The crash of Mulhouse Brand -- 17 The Sigma affair -- References -- Glossary of key terms.