Financial legend Barton Biggs' fictional account of the hedge world and the broader workings of Wall Street Barton Biggs' latest book is an inspirational rags to riches story of drive and financial talent. Told through the eyes of a fictional insider, this engaging story provides a detailed look at the hedge fund business in the late 1990s and through the first decade of tFinancial legend Barton Biggs' fictional account of the hedge world and the broader workings of Wall Street Barton Biggs' latest book is an inspirational rags to riches story of drive and financial talent. Told through the eyes of a fictional insider, this engaging story provides a detailed look at the hedge fund business in the late 1990s and through the first decade of the twenty-first century.A Tale From the Hedge Fund World chronicles the life of a poor boy who ends up amassing more wealth than he ever thought possible. From studying Wall Street charts while sitting on the sidelines of football practice to realizing how so much money can be made in a short period of time, this book provides a bird's eye view of the inner workings of Wall Street and what it takes to make it there.Puts the word of hedge funds in perspective and reveals the competitive and lucrative nature of this field Other titles by Biggs: Hedgehogging and Wealth, War & WisdomAlso describes the bursting of the mortgage bubble and the great financial crisis that followed No one knows more about the hedge fund world of the past twenty years than Barton Biggs. His new fable offers an entertaining look at this field and those who aspire to excel within it....
|Title||:||A Hedge Fund Tale of Reach and Grasp: ...or What's a Heaven For?|
|Number of Pages||:||319 Pages|
|Status||:||Available For Download|
|Last checked||:||21 Minutes ago!|
A Hedge Fund Tale of Reach and Grasp: ...or What's a Heaven For? Reviews
Biggs does a great job of weaving a fictional tale with the real world of hedge funds in New York. This was a fun read in less than 24 hours. He does a wonderful job of exposing the superficial and avaricious culture that seemingly derives their entire self-worth from their relative net-worth amongst their peers, "friends," co-workers and others. There are a number of great quotes from Keynes, Frost, Longfellow and yes, investors such as Soros and Buffett. This is in the mold of Bonfire of the Vanities. There are so many wonderful lines. I particularly liked, "its expensive being rich." Everyone measures their mood and reputation regarding how many horses they have, nannies for their children, how many acres in Greenwich; there is even an explanation how to manipulate 5 year old children to get them into a prestigious Greenwich day care, such as "teach your boys to covertly pinch another child and then surreptitiously walk away." I'm paraphrasing from memory but the norms of this culture have an orbit around a completely different planet from most people of modest net worth. I know of at least one person that "blew-up" his fund from the Great Recession and he completely walked away from the business, but I have a little skepticism regarding one of the main characters living out his remaining years in a bucolic town. Perhaps I'm naive, but the competitive fire Biggs extensively described into his late 30's, I don't think that completely burns out; however, once confidence is gone and one is filled with pity, I suppose a denouement of living a life devoid of any ambition is a credible ending.
For someone who has built a career in investing there is a lot to relate to here. The first half is quite slow, but I very much enjoyed the rest of it. Biggs clearly puts realism above intrigue, a big positive for me, but I find it an emotionally engaging read nonetheless.If you're interested in the hedge fund world, or the emotional side of investing, this is a great read.
Another good book from Barton Biggs. The author describes the up and down ride of a fictional statistical arbitrage hedge fund manager investing using value with momentum style. The protagonist started his business at perfect time when value style regain its fashion after the tech bubble and went bust during quant meltdown in 2007. His personal wealth was more than 100 million at one time but he left the industry with less than 15 million. Nice read to learn more about hedge fund manager's life.
I listened to the unabridged version of this book on audio while driving home from Bend, Oregon. I had also just finished the book, An American Hedge Fund. Mr. Biggs book is a fictional account of a hedge fund that booms and then busts....not an uncommon fate within the hedge fund industry. The story is realistic and insightful, but not all that interesting. I would not recommend.
For what the book tries to do, it does it very well. Probably the most accurate piece of investment fiction since Edwin Lefèvre's Reminiscences of a Stock Operator. Certainly unsurpassed in terms of the description of quantitative long/short equity investing. But steer clear if you are not a stock market nerd.
Incredible. Incredible. Incredible. This noon profiles Joe Hill from high-school football star to hedge fund star and all the rises and falls along the way. The book shows an in-depth look on how to rise in the industry, what the people are like, and the hubris that inevitably leads them to lose it all. Will read again for sure.
Same as Hedge Hogging, I couldn't put it down.
Reminds me of Mr. Miyage's advice: Walk on one side of the road, safe. Walk on other side of the road, safe. Walk in the middle of the road, get squashed.