Originally posted at forexfactory on Sept 29, 2010
Any one read this book yet? I just finished reading it and it was a great book.
The book starts off with a history of how the first hedge fund got started from this guy called Alfred Winslow Jones. The author then goes over history of around 15-20 hedge fund managers. The list includes Michael Marcus, Bruce Kovner, George Soros, Stanley Druckenmiller, Julian Robertson, Paul Tudor Jones, David Swensen, Jim Simons, D.E. Shaw, John Paulson, James Chanos, Ken Griffin, and a few others.
The author deconstructs some of the famous trades that many of these managers made, winners and losers. With a little bit of storytelling mixed in with analysis the author does a fabulous job of showing the emotions of hedge fund managers bleeding hundreds of millions and billions of dollars when the market went against them or when they were stuck in illiquid positions.
The book covers many different events including but not limited to the commodity boom of the 70’s, crash of 87, Soros breaking the Bank of England, attacks on Asian currencies during the 90’s, Russian financial crisis of 1998, dot com bubble, mortgage bubble, LTCM, Amaranth, quant quake and more.
Don’t expect the book to give magic indicator settings you have been looking for. But, the book can teach a lot about trader psychology, potential strategies/methodologies.
Overall a must read to add to your trading book collection!