Diary of a Hedge Fund Manager

[king888]

[amazonsearch]Diary of a Hedge Fund Manager[/amazonsearch]

 

The main topic is  McCullough's rise and fall in Hedge fund industry. A former hockey player turned into hedgefund manager. It provides some insight how hedgefund works.McCulloguh thinks that Hedgefund is a flawed system.Most fund manager just follow the herd ,taking excessive risk to gain huge incentive. And the later part of the book is kind of promoting McCullough's research firm. 

 

Not much about value investing but it is good read for novices (only in the first part) . Good to read it to get a clear view in HF industry and then read the "The most important things" from Howard Mark which has a chapter explaining why he focus on absolute return rather than relative return.

[calonego]

The book is interesting - he had a quick/intense career in the super-large macro HF world...

Confessions of a Street Addict is better, but McCullough's book is a quick read and a more recent snap-shot of the non-value, take no prisoners, monthly performance, HF world.

He also tried to buy an NHL team a year or two ago.

 

I don't know him, but he's a Canadian and from my town...

Must be an alright guy!  ;)

[king888]

The book is interesting - he had a quick/intense career in the super-large macro HF world...

Confessions of a Street Addict is better, but McCullough's book is a quick read and a more recent snap-shot of the non-value, take no prisoners, monthly performance, HF world.

He also tried to buy an NHL team a year or two ago.

 

I don't know him, but he's a Canadian and from my town...

Must be an alright guy!  ;)

Didn't know that he tried to buy NHL team before. In the book, he that he had 100 times more money than he expected in childhood after he was fired from the last HF firm. It might be  around $100 million. Not bad for working in HF for just only 10 years.