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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

Paperback

By (author) Steven Drobny, Foreword by Nouriel Roubini, Foreword by Jared Diamond

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  • Publisher: John Wiley & Sons Inc
  • Format: Paperback | 476 pages
  • Dimensions: 153mm x 227mm x 32mm | 578g
  • Publication date: 25 October 2011
  • Publication City/Country: New York
  • ISBN 10: 1118065484
  • ISBN 13: 9781118065488
  • Edition statement: Reprint
  • Sales rank: 212,554

Product description

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.

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Author information

Steven Drobny is the founder of Drobny Global Asset Management, a full-service asset management, investment advisory, and consulting firm focused on global macro and commodity hedge fund strategies. He is also the author of the critically acclaimed The Invisible Hands: Top Hedge Funds on Bubbles, Crashes and Rethinking Real Money (Wiley) and Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets (Wiley) . Please visit www.drobnycapital.com for more information on Mr. Drobny and his books.

Back cover copy

Praise for "The Invisible Hands""Drobny does it again!" --JIM ROGERS, author of "A Gift to My Children""While many are too busy trying to determine 'what just happened, ' the insights of these Invisible Hands provide a valuable forward-looking road map for managing institutional portfolios. With trillions at stake for our society's pensions, endowments, and foundations, this book offers important lessons for any fiduciary charged with stewarding assets for future generations." --MICHAEL K. BARRY, Chief Investment Officer, Georgetown University Endowment"Anyone looking for a better understanding of how to invest in turbulent waters will benefit from this guided tour of the experiences of smart and creative money managers over the last couple of years. Pick up a copy and enjoy!" --ARMINIO FRAGA, Founding Partner, Gavea Investimentos, and former president, Central Bank of Brazil"Drobny's pathbreaking work analyzes the deficiencies of real money investors and proposes antidotes gleaned from the techniques of top macro hedge fund managers." --Dr. JOHN PORTER, Managing Director, Global Portfolio and Liquidity Management, Barclays Capital"Once again, Drobny taps the most influential minds in investing to unearth some decidedly uncommon wisdom and candid revelations. "The Invisible Hands" maps out the winners and losers, empowering readers to navigate the transformation of the money management industry currently in full swing." --JOHN BRYNJOLFSSON, CIO, Armored Wolf, and former portfolio manager of the $80 billion PIMCO Real Return practice

Table of contents

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