Publisher: Prentice Hall, 2010, 210 pages
Some call them 'grotesque', others 'absolutely crazy bodies', and still more refer to them as 'hellish': hedge fund managers are stealthy, wealthy and tend to avoid the spotlight. But is this fair? Read on to find out.
Money Mavericks: Confessions of a Hedge Fund Manager charts the founding, seemingly interminable rise and eventual closure of a fund which operated in London during the febrile years of 2002 to 2008. Shedding light on the incredible inside workings of hedge funds, it's a tale of a bubble industry in a bubble town during the bubble years. It tells the story of some very smart people who were trying to do something that was very incredible hard: beat the market. If they failed, the repercussions would be swift and severe. If they succeeded, the rewards would be massive.
A boring book, that only proves the egolomanic ways of many business school graduates that goes on to finance work. The most glaring thing in this book is that this so called hotshot manages to make the same mistakes many entrepreneurs does, and he still don't get it! To create a lasting company, you need more than a belief in your superiority! You really need a business plan, a business model and some (sometimes a lot of) experience. Any half-moron MBA-student (and a lot of non-MBAs as well) can create a company that survives 3-5 years. It is the period after the first 5-7 years that prove if you have lasting value, which this moronic idíot can't even contemplate, but instead blames circumstances, and too low risk in the fund…
Pretty meaningless, unless you WANT to believe in the poor schmuck.
Two hours of my life wasted, and for what? To prove what I already knew after having worked at an investment bank: the world is full of arrogant idiots, and (unfortunately) the morons that WANTS to believe in them!