This book was first published in 2006 which was considered a period of great prosperity for the stock market around the world. The reputation of hedge funds as the undisputed alternative investment vehicles was established after they survived the Tech bubble crash. There was a proliferation in their number in the United States and around the world.
The Author starts out by giving a brief history of the global markets and then proceeds in his quest to make these traders speak openly. One of the great things about this book is that it gives inside access to the great minds of the in the industry. There are so many takeaways from this that it is hard to mention them all. Perhaps the most valuable factor is the way the author engages his subjects into discussing individual trades. The details about what they thought about it, how they went about executing it and how they felt after it was done. This book is very similar to “More Money than God” and “The Market Wizards series” in the sense that it is structured on similar lines. However, Steven Drobny goes one step further and chooses to stick to only one style of fund management: Global Macro Investing.
It is fascinating to read how even one particular investment style has so many different types of approaches. As you read along, you will discover what type of style suits you best. Some of them are:
• Family Office Manager: Jim Leitner
• The Prop Trader: Christian Siva-Jothy
• The Treasurer: Dr. John Porter
• The Central Banker: Dr. Sushil Wadhwani
• The Floor Trader: Yra Harris
• The Commodity Specialist: Dwight Anderson
• The Stock operator: Scott Bessent etc.,
This book is more applicable to traders. It will help expand your horizon, develop a more serious thinking approach, look at the big picture and develop your trading skills. This one is matched by a few in the volume and the quality of content it covers. Five Stars!
Tejas is the Co-Founder & CEO at FYERS, the youngest team to get NSE’s broker license. He has a specialization in finance and has over 10 years of work experience spanning across proprietary trading, risk management, and broking. Tejas & his team started FYERS, a technology-focused brokerage as a mission to transform the trading/investment landscape in India.