Matthew's Reviews > The Invisible Hands: Hedge Funds Off the Record - Rethinking Real Money

The Invisible Hands by Steven Drobny
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's review
Oct 06, 10

bookshelves: essaysjournalism, markets
Read in October, 2010

Excellent and deep. Nothing you can take away and immediately implement, but tons to chew over about how these top money managers (across different asset classes -- bonds, equities, commodities, multi strat) approach the markets, think about and dig deep into what they do. Definitely something to reread and I will get for my shelf when the paperback comes out.

One thing I do take-away, which I have suspected for a while, is that top money managers with large portfolios all use deep fundamental research. Many do use technical analysis and price action to enter/exit trades, but their positions seem to almost invariably hang on a fundamental view. Several managers also make interesting distinctions between portfolio management (even that at a hedge fund), proprietary trading, and real money management (pension funds, endowments, etc).

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