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

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.

Introduction:

Hedge funds are everywhere today.The term hedge fund used to conjure images of speculators hunting for absolute returns in any market in the world, using any instrument or style to capture their prey.The managers of the original multibillion-dollar mega-funds, such as George Soros or Julian Robertson, became well-known figures because of their speculative prowess. Yet they were also accused of such modern ills as attacks on developed world central banks and capital flight in the third world.

After the stock market crash of 2000, hedge funds came into their own by proving to be a superior asset management vehicle. As most global investors were suffering year after year of negative returns, hedge funds performed.This encouraged a wave of institutional money to flow into such alternative investment vehicles. At the same time, given the superior flexibility and attractive compensation structure of hedge funds, the most talented financial minds migrated over in what became a mass exodus from The City and Wall Street.

As hedge funds have matured, they have become more of a business. The tremendous inflow of capital has altered the freewheeling image of more than a decade ago.This shift has spawned a more formalized industry where managers often implement rather narrow, specific strategies and where investors in hedge funds no longer tolerate down years or even down months of performance. Competition has smoothed returns, both on the upside and the downside, and lower returns have led to questions about hedge fund fees.

Amidst this evolution and change in the hedge fund business, one strategy has remained true to its original mandate of absolute return investing, seeking outsized returns from investments anywhere in the world, in any asset class and in any instrument: global macro.

Contents:

• Introduction to Global Macro Hedge Funds
• The History of Global Macro Hedge Funds
• The Future of Global Macro Hedge Funds
• The Family Office Manager
• The Prop Trader
• The Researcher
• The Treasurer
•  The Central Banker
• The Dot-Commer
• The Floor Trader
• The Pioneer
• The Commodity Specialist
• The Stock Operator
• The Emerging Market Specialist
• The Fixed Income Specialists
  The Currency Specialist

Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets By Steven Drobny pdf