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Inside the House of Money: Top Hedge Fund Traders on Profiting in a Global Market
Synopses & Reviews
In today's difficult investment environment, where geopolitical and social instability compound an already challenging search for higher returns, hedge funds have outperformed. As a result, assets under management have exploded and top investment talent has migrated over to hedge funds. Amidst the growth and evolution of the business, one strategy—global macro—has remained true to its original mandate of absolute return investing, which seeks outsized returns from investments anywhere in the world, in any asset class, and in any instrument.
Although successful money managers often have a reputation for being reluctant to discuss their market views and trading strategies, Inside the House of Money opens the door to the typically opaque world of hedge funds—particularly global macro investing—and offers a rare glimpse into a high-intensity environment where enormous stakes are a part of everyday life. As cofounder and partner of Drobny Global Advisors—an international macroeconomic research and advisory firm—author Steven Drobny has access to a broad selection of today's top global macro hedge fund managers. Through detailed interviews with more than a dozen of these individuals, Drobny provides you with an inside look at how these money managers view world markets and offers subtle insights into how they make money.
First, you will receive an introduction to global macro from a professional investor's perspective. Then, you will discover how some key historical events have shaped this field. You will also learn how future events, such as increased competition and specialization, are pushing today's global macro manager into the realm of global micro investing. With this information in hand, you'll go Inside the House of Money through a collection of in-depth interviews with a variety of money managers, each with a unique perspective and approach to global markets, including:
Filled with in-depth insight and real-world experiences of top hedge fund traders, Inside the House of Money reveals how the best minds in the business identify and profit from opportunities in every corner of the globe.
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. Author Steven Drobny demystifies how these star traders make billions for well-heeled investors, revealing their theories, strategies and approaches to markets. Drobny, cofounder of Drobny Global Advisors, an international macroeconomic research and advisory firm, has tapped into his network and beyond in order assemble this collection of thirteen interviews with the industry's best minds. Along the way, you'll get an inside look at firsthand trading experiences through some of the major world financial crises of the last few decades. 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 the complexities at stake in world financial markets.
"The ruminations of supposedly hush-hush hedge fund operators are richly illuminating." --New York Times
About the Author
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 information on Drobny, DGA, and this book.
Table of Contents
Foreword by Joseph G. Nicholas (HFR Group).
1. Introduction to Global Macro Hedge Funds by Joseph G. Nicholas (HFR Group).
2. The History of Global Macro Hedge Funds.
3. The Future of Global Macro Hedge Funds.
4. The Family Office Manager: Jim Leitner (Falcon Management).
5. The Prop Trader: Christian Siva-Jothy (SemperMacro).
6. The Researcher: Dr.Andres Drobny (Drobny Global Advisors).
7. The Treasurer: Dr. John Porter (Barclays Capital).
8. The Central Banker: Dr. Sushil Wadhwani (Wadhwani Asset Management).
9. The Dot-Commer: Peter Thiel (Clarium Capital).
10. The Floor Trader:Yra Harris (Praxis Trading).
11. The Pioneer: Jim Rogers.
12. The Commodity Specialist: Dwight Anderson (Ospraie Management).
13. The Stock Operator: Scott Bessent (Bessent Capital).
14. The Emerging Market Specialist: Marko Dimitrijević (Everest Capital).
15. The Fixed Income Specialists: David Gorton and Rob Standing (London Diversified Fund Management).
16. The Currency Specialist:Anonymous.
Appendix A: Why Global Macro Is the Way to Go by Dr. Lee R.Thomas III.
Appendix B: A Note to Investors about Global Macro.
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