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Inside the House of Money, Revised and Updated: Top Hedge Fund Traders on Profiting in the Global Markets
ISBN: 047037909X     Date Published: 2009-01-09     Author(s): Steven Drobny, Niall Ferguson
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Paperback
Wiley
432 Pages
 
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06/20/2013 01:31:54
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Editorial Review - Book Description:
This updated paperback edition of Inside the House of Money lifts the veil on the typically opaque world of hedge funds offering a rare glimpse at how today's highest paid money managers approach their craft. Now with new commentary, author, Steve Drobny takes you even further into the hedge fund industry. He demystifies how these star traders make billions for their well-heeled investors, revealing their theories, strategies and approaches to markets. Whereas some still maintain that rationality permeates financial markets, Drobny captures a different dimension, showing how the unquantifiable human forces of emotion and intuition are also at play. Along the way, readers get an inside look at firsthand trading experiences through some of the major world financial crises of the last few decades including tragedies such as September 11th. Whether Russian bonds, Pakistani stocks, Southeast Asian currencies or stakes in African brewing companies, no market or instrument is out of bounds for these elite global macro hedge fund managers. Highly accessible and filled with in-depth expert opinion, Inside the House of Money is a must-read for financial professionals and anyone else interested in understanding how greed, fear, and the human forces of emotion drive world markets.
 
Customer Review:
Total Reviews: (11)
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11 of 11 People found the following review helpful.

Awesome insight into the world of Global Macro hedge funds., May 22, 2009 ByRonin - See all my reviews This review is from: Inside the House of Money, Revised and Updated: Top Hedge Fund Traders on Profiting in the Global Markets (Paperback) Steven Drobny delivers a treasure trove of useful information in a very readable and user-friendly format. The book focuses on Global Macro hedge funds, providing a history starting with GM pioneer John Maynard Keynes to the mega funds run by Soros and Robertson, to the 21st century evolution of the leaner funds and their tactics. After describing the function and history of Global Macro, Mr. Drobny takes us deep into the minds of the operators themselves with over a dozen fascinating interviews. For those who are new to the subject, Global Macro is basically a fund whose approach allows them to act nimbly in any global market using any class of asset including stocks, bonds, currency, and commodities. These funds employ a wide variety of hedging and arbitrage strategies using complex combinations of assets, and constantly seek out anomalies in any market that can offer superior returns. I particularly liked the interview with Jim Leitner who has a very...
 
6 of 7 People found the following review helpful.

Very Good Hedge Fund Overview on Macro Managers, November 3, 2009 ByHappy in New York City (ny) - See all my reviews Amazon Verified Purchase(What's this?) This review is from: Inside the House of Money, Revised and Updated: Top Hedge Fund Traders on Profiting in the Global Markets (Paperback) Excellent book that gives the reader a basic understanding of what is a Global Macro Hedge Fund Manager. Written in English versus "finance terms" it has a wealth of information for both veterans and novices in the Hedge Fund space. It is a quick read that leaves you more knowledgeable at the end. I enjoyed reading the interviews with the hedge fund managers that normally never open up their world to the public.
 
6 of 7 People found the following review helpful.

Master's of the Universe, July 14, 2009 ByMKM "mad about books" (Bronxville, NY USA) - See all my reviews Amazon Verified Purchase(What's this?) This review is from: Inside the House of Money, Revised and Updated: Top Hedge Fund Traders on Profiting in the Global Markets (Paperback) I thought I would lose interest in this book as it is a Q and A Interview style rather than a narrative style. However the book captured my interest from the very first profile. It was a great mix of trading philosophy, how they got into global macro investing, and their perspective on their world view. It was fascinating to see the intellectual challenge that global macro investing presents. The breadth of knowledge the profiled traders learn and use covers history, finance, economics, politics, psychology and many other areas. In addition the Steven Drobny's questions lead to answers that are contrary to our conventional view of the Master's of the Universe: they know they will make mistakes and tailor their approach to be ready for it and learn from it. My favorite chapters were the ones on Leitner, Thiel, Anderson, and Dimitrijevic. The last two profiles were weaker compared to the others but I still gave the book five stars considering I started out with a negative view of...
 
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