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The Invisible Hands: Top Hedge Fund Traders on Bubbles, Crashes, and Real Money

The Invisible Hands Top Hedge Fund Traders on Bubbles, Crashes, and Real Money

  • Author:
  • Publisher: John Wiley & Sons
  • ISBN: 9781118065488
  • Published In: August 2011
  • Format: Paperback , 444 pages
  • Jurisdiction: International ? Disclaimer:
    Countri(es) stated herein are used as reference only
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Hedge fund managers who survived and profited through the 2008 financial crisis share their secrets

In light of the colossal losses and amidst the resulting confusion that still lingers, it is time to rethink money management in the broadest of terms. Drastic changes need to be made, and managers who actually made money during 2008 make for a logical starting place.

The Invisible Hands provides investors and traders with the latest thinking from some of the best and the most successful players in money management, highlighting the specific risk and return objectives of each, and discussing the evolution of certain styles and beliefs in money management.

  • Contains revealing interviews with top hedge fund managers who survived and prospered through the 2008 financial crisis
  • Outlines investments and strategies for the rocky road ahead
  • Reveals how hedge fund managers are seeking a new paradigm of risk management and profit making opportunities in the post-crisis world
  • Gives guidance on how traditional investors such as pensions, endowments, foundations and family offices should rethink how they approach asset allocation and portfolio construction

Page by page, the top macro thinkers found in this book reveal their own approaches to markets, risk, and the broader world in which we live, as well as their advice on how investors should be approaching money management in today's uncertain world.

Foreword by Nouriel Roubini ix

Foreword to the Previous Edition by Jared Diamond xiii

Preface xix

Preface to the Previous Edition xxiii

PART ONE REAL MONEY AND THE CRASH OF '08 1

Chapter 1 Rethinking Real Money 3

Chapter 2 The Researcher: Dr. Andres Drobny, Drobny Global Advisors 33

Chapter 3 The Family Office Manager: Jim Leitner, Falcon Management 53

PART TWO THE INVISIBLE HANDS 77

Chapter 4 The House 79

Chapter 5 The Philosopher 111

Chapter 6 The Bond Trader 149

Chapter 7 The Professor 169

Chapter 8 The Commodity Trader 205

Chapter 9 The Commodity Investor 235

Chapter 10 The Commodity Hedger 269

Chapter 11 The Equity Trader 299

Chapter 12 The Predator 327

Chapter 13 The Plasticine Macro Trader 349

PART THREE FINAL WORD 385

Chapter 14 The Pensioner 387

Conclusion 411

Acknowledgments 415

Bibliography 419

About the Author 427

Index 429

Steven Drobny is cofounder of Drobny Global Advisors (DGA), an international macroeconomic research and advisory firm that counts many leading global hedge funds as clients. He is also the author of the critically acclaimedInside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets (Wiley). Please visit www.drobny.com for more information on Drobny, DGA, and this book.

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