It is a series of one on one interviews that gives a great wrap up of which strategies have been able to take the best advantage of world markets at different times, and most importantly, why. I am a big Steven Drobny, fan as he is able to deeply research a subject matter, and explain it in a very smooth and logical rhythm that matches my mental intake pattern almost perfectly. Like a well tailored suit, this writing style fits me perfectly and feels like a second skin, very natural.
The in-depth chapters and subject matters are wide ranging from on how family offices see the world, in total contrast to Yra Harris, floor trader, Christian Siva-Jothy, from Goldman prop (later SemperMacro) or Dwight Anderson, from Ospraie on commodities. Each was a rare combination of feedback sources for me. It was presented really well, and I felt that I received my full money's worth when I finished this fine collection of conversations.
I get a sense that these are the kind of people who have an edge. Partly unique talent but always worked at and sharpened by long hours and hard work and dedication. There is no easy path to success. It is an insight that many investors or Managing Directors are always looking for in financial markets.
The Top 3 Takeaways from this book that really impact any reader are:
1) There is a lot to learn about how to be successful hedge fund trader. You have to learn how and when markets may move in your favor, and adapt constantly.
2) The best traders know how to make money and keep doing what they do best where they have an edge. You need to recognize patterns and be consistent and keep a constant ability to adapt to trends, markets and changes.
3) Becoming a successful trader, a true long-term moneymaker is never fast or easy. Losses are a part of profits and cannot be avoided, by noted them, you seek to minimize them in future. The more trading notes you take, the more profits you make.
At 356 pages this book is dense quality and no fluff - just great, high quality interviews asking the same kind of questions to legends in the hedge fund world. They are the kinds of questions I would have asked myself, maybe even over drinks in a New York bar, to get the full color. This book is a keeper and is Highly recommended!
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