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Inside the House of Money: Top Hedge Fund Traders on Profiting in a Global Market
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Inside the House of Money: Top Hedge Fund Traders on Profiting in a Global Market

3.95  ·  Rating Details  ·  573 Ratings  ·  29 Reviews
Unveiling the opaque world of hedge funds, looking at how the highest paid money managers approach their craft, this book shows how they make billions for their well-heeled investors. It is useful for financial professionals and for those interested in understanding how the human forces of emotion drive world markets.
Hardcover, 370 pages
Published April 1st 2006 by John Wiley & Sons (first published January 1st 2006)
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(showing 1-30 of 1,166)
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Philip
May 11, 2009 Philip rated it liked it
First, I wouldn't recommend this to anyone who isn't very comfortable with finance terminology. There's a lot of *very* technical language and a lot of unintuitive discussions about pricing volatility etc. etc. If you skim over that stuff, it's pretty much impossible to follow the thrust of the book.

That being said, it's a kind of interesting book - particularly in how you get an unfiltered view of what happens at various prop desks and hedge funds. The book is a compilation of interviews with v
...more
Edwin
May 19, 2016 Edwin rated it it was amazing
Ever since I bought Inside the House of Money, the book has been some kind of a market bible for me. I read it when I got interested with the financial market, I referred to it when I wrote my finance dissertation, I hang on to it when I was looking for a job and indeed I often seek inspirations and knowledge from it as a market practitioner.

In its core, the book provides us with the essence of what global-macro hedge-fund world is all about, through the interviews with 13 of the utmost experts
...more
Duffy Pratt
Feb 05, 2011 Duffy Pratt rated it liked it
This book is another set of interviews, in the same vein as the Market Wizards book. The traders here all run hedge funds that specialize in Global Macro. What's Global Macro? It means trading anything, anywhere. Typically, these traders look to long term fundamental aspects of international economies. They are trading enormous amounts of money, even the guys who are mostly trading their own money. The interviews were quite interesting.

The best thing about this book is how clearly, and nearly u
...more
Carl Yang
Jun 02, 2014 Carl Yang rated it it was amazing  ·  review of another edition
Puts forward a lot of new ideas. Many specific traders talk about what they think works, what doesn't, what drives the market, etc. Not many books really give the perspective from a successful portfolio manager / trader (i.e. readers will notice most PMs are always long the tail / long gamma). Very inspiring read. Some of the best interviews in the book feature Jim Leitner, Christian Siva-Jothy, Jim Rogers, and Scott Bessent. Peter Thiel (noted venture capitalist) is also interviewed for this bo ...more
James
Jul 21, 2010 James rated it it was ok
This is not a book for people not familiar with a lot of financial jargon.
Very little of which isn't explaned.

There is some interesting material in the book,
but the author seems obsessed with the term "GLOBAL MACRO".

He keeps asking everyone what it means,
the best answer on p 217 is from Jim Rodgers,
probably the most famous of all the people he interviewed;
a sarcastic: "I'm not smart enough to know".

That gave me a chuckle and I hoped the author would forget
about GLOBAL MACRO.
He didn't thoug
...more
Matthew
Jan 24, 2009 Matthew rated it it was amazing  ·  review of another edition
An excellent and educational read. Timely follow up to Schwager's Market Wizards series, as it is more up to date and profiles managers who have succeeded in the 90s and 00s. Drobny makes an effort to speak to a wide range of managers, with differing personalities and styles, though all in global macro (though each individual defines it slightly differently). Many tips here on the broad outlines of specific strategies, but what's more valuable is being able to trace their thought processes, and ...more
Carl HT
Dec 29, 2014 Carl HT rated it it was amazing
I've just re-read my favourite chapters in this book, which I imagine will be an annual occurrence going forward. Having had the opportunity to meet a number of the subjects, it goes without saying, the fortune of being able to take their words with you to sit and digest their strategy and method is priceless. The most influential chapter being Jim Leitner, simply for his emphasis on seeking disconfirming evidence, something you'll find most people can't do, as reality doesn't conform to their v ...more
Julian Bu
Mar 21, 2016 Julian Bu rated it it was ok
occasionally interesting, but in the end not very useful to me.
Zhong Sheng
Jun 06, 2016 Zhong Sheng rated it it was ok
An entertainment read than a journey to learn
Wilayat Technologist
i want to read this book thats great book
Kamran
Oct 01, 2014 Kamran rated it it was amazing
Definitely, the best book on financial markets I have read in a very long time. As a practitioner of global macro trading, I highly endorse this book. I would love to read this book again soon to extract more.
Brentley Campbell
Sep 02, 2014 Brentley Campbell rated it really liked it
Solid introduction to global macro and some wonderful stories from a few great global macro traders. Reading about some of their trades adds a lot of context to big events over the past 30+ years. Also big value add for fundamentally oriented investors as it may help one to better understand the implicit macro trades one is making.
Justin W
Oct 13, 2014 Justin W rated it really liked it
Great interviews!
Brian Zheng
Jun 02, 2016 Brian Zheng rated it really liked it
Only after I finishing the book and I realized the author Steven Drobny actually has a newer book called "The Invisible Hands" with similar set of Portfolio Managers. Among all the managers, I found the story of Jim Leitner at Falcon Family Fund is most intriguing and fascinating.
Jason Field
Oct 23, 2014 Jason Field rated it it was amazing
Shelves: trading
As stated in the description, this does provide a rare glimpse into a world few of us will ever enter. Of course you require a general interest in finance to fully comprehend, but why would you be reading this if you didn't?? Thoroughly enjoyable and also somewhat inspiring.
E
May 17, 2007 E rated it it was amazing
Recommends it for: finance people
I am scared of myself for enjoying this book! Kind of the next generation's Liar's Dice - but with interviews of real players in the industry! The interviews are the best part - the bit on global macro *analysis* is a tad boring and general.
Ben
Jan 27, 2012 Ben marked it as to-read
apparently Peter Thiel's investment style and resultant rise in the hedge fund world in 2003-2005 is the subject of one of the chapters
Jason Sohigian
Dec 16, 2007 Jason Sohigian rated it really liked it
I had the privilege of meeting one of the subjects of this book--I was inspired by his intellectual curiosity and sincere kindness.
evan pon
Jun 05, 2007 evan pon rated it liked it
mostly dry, lots of stuff i didn't understand. actually skimmed through a lot of it. but some good stories and food for thought in there.
Michael
Mar 27, 2008 Michael rated it it was amazing
Shelves:
My favorite part is where Jim Rogers says that even his infant daughter knows not to have any funds in US Dollars.
Manish Agarwal
Feb 11, 2012 Manish Agarwal rated it really liked it
"Learn about managing money and trading for living from most influential Traders of the world."
Pcarbonell
Aug 07, 2013 Pcarbonell rated it it was amazing
An insider look into investment world. Underrated and without peer for it's genre
Melissa Du
Feb 23, 2008 Melissa Du rated it did not like it
Boring, but learned some stuff. Was able to skip around a lot. Still, boring.
Asif
Sep 23, 2014 Asif rated it it was amazing
An excellent book with advice from active traders.
Matt
Aug 18, 2008 Matt rated it it was amazing
Perhaps the best book about investing I have ever read
Taft-McPhee
Feb 11, 2009 Taft-McPhee rated it it was ok
Better than I thought it would be.
Cristina
Jul 17, 2016 Cristina rated it really liked it
Excellent book
AC
Jan 11, 2011 AC rated it it was amazing
Shelves: markets
Great book.
Pj
Oct 18, 2012 Pj rated it really liked it
very esoteric. an interesting read if you enjoy the study of trading commodities, currencies, equities and fixed income.
Arturo Pina
Arturo Pina marked it as to-read
Jul 25, 2016
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“Psychologists have done tests about how humans approach problem solving and found that we are somehow preprogrammed to look for confirmation and not for disconfirmation.” 1 likes
“A really important lesson in investing is that being either too far in front or too far behind is when you get hurt, whereas being right at the edge of the wave is where the money is made. And our job is not to be right, but to make money.” 0 likes
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