Just finished one of the books I received over the holidays – Sebastian Mallaby’s: More Money Than God: Hedge Funds and the Making of a New Elite (Council on Foreign Relations Books (Penguin Press), and I highly recommend it for anyone in or around the business of managing money, or having their money managed for them.
While the focus is on hedge funds, and not their cousins managed futures, there is quite a bit on early trend followers Paul Tudor Jones and the Commodities Corporation, which managed futures enthusiasts are likely to find interesting. The rest of it gives a nice history of hedge funds through giants of the industry – Soros, Julian Robertson, Renaissance, and Paulson – often getting into detail about just how much leverage and risk was taken on extraordinary trades such as Soro’s bet against the British pound and Paulson’s against mortgage backed securities.
If you don’t mind feeling small, dumb, and very poor while reading it…. this is a great read. Click here to see it on Amazon.
– Jeff Malec
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