Inside the House of Money, Revised and Updated Top Hedge Fund Traders on Profiting in the Global Markets

by Drobny, Steven; Ferguson, Niall

• ISBN13: 9780470379097
• ISBN10: 047037909X
• Edition: 1st
• Format: Paperback
• Copyright: 2009-01-09
• Publisher: Wiley

Summary

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.

Author Biography

Steven Drobny is cofounder and partner of Drobny Global Advisors (DGA), an international macroeconomic research and advisory firm that counts many of the leading global hedge funds as clients. Prior to starting DGA, Drobny worked for Deutsche Bank's Hedge Fund Group in London, Singapore, and Zurich. Drobny holds a master's degree from the London School of Economics and Political Science and a bachelor's degree from Bucknell University. Please visit www.insidethehouseofmoney.com for more information on Drobny, DGA, and this book.

Table of Contents

Foreword	p. ix
Preface	p. xi
Preface to the Previous Edition	p. xiii
Introduction to Global Macro Hedge Funds: Joseph G. Nicholas (HFR Group)	p. 1
The History of Global Macro Hedge Funds	p. 5
The Future of Global Macro Hedge Funds	p. 31
The Family Office Manager: Jim Leitner (Falcon Management)	p. 35
The Prop Trader: Christian Siva-Jothy (SemperMacro)	p. 87
The Researcher: Dr. Andres Drobny (Drobny Global Advisors)	p. 119
The Treasurer: Dr. John Porter (Barclays Capital)	p. 149
The Central Banker: Dr. Sushil Wadhwani (Wadhwani Asset Management)	p. 177
The Dot-Commer: Peter Thiel (Clarium Capital)	p. 197
The Floor Trader: Yra Harris (Praxis Trading)	p. 221
The Pioneer: Jim Rogers	p. 239
The Commodity Specialist: Dwight Anderson (Ospraie Management)	p. 263
The Stock Operator: Scott Bessent (Bessent Capital)	p. 291
The Emerging Market Specialist: Marko Dimitrijevic (Everest Capital)	p. 311
The Fixed Income Specialists: David Gorton and Rob Standing (London Diversified Fund Management)	p. 331
The Currency Specialist: Anonymous	p. 347
Conclusion	p. 363
The Crash of '08	p. 365
Who Controls Liquidity?	p. 373
Why Global Macro Is the Way to Go by Dr. Lee R. Thomas III	p. 381
A Note to Investors about Global Macro	p. 389
Acknowledgments	p. 393
Bibliography	p. 397
Index	p. 401
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