Inside the House of Money

Title: Inside the House of Money
Sub Title: Top Hedge Fund Traders on Profiting in the Global Markets
Author: Steven Drobny
Publisher: John Wiley & Sons, Inc.
Year: 2006 (April 21)
Pages: 384
ISBN: 0471794473 / 9780471794479
Format: Hardcover
Description:
In today's difficult investment environment, where geopolitical and social instability compound an already challenging search for higher returns, hedge funds have outperformed. As a result, assets under management have exploded and top investment talent has migrated over to hedge funds. Amidst the growth and evolution of the business, one strategy—global macro—has remained true to its original mandate of absolute return investing, which seeks outsized returns from investments anywhere in the world, in any asset class, and in any instrument.
Although successful money managers often have a reputation for being reluctant to discuss their market views and trading strategies, Inside the House of Money opens the door to the typically opaque world of hedge funds—particularly global macro investing—and offers a rare glimpse into a high-intensity environment where enormous stakes are a part of everyday life. As cofounder and partner of Drobny Global Advisors—an international macroeconomic research and advisory firm—author Steven Drobny has access to a broad selection of today's top global macro hedge fund managers. Through detailed interviews with more than a dozen of these individuals, Drobny provides you with an inside look at how these money managers view world markets and offers subtle insights into how they make money.
First, you will receive an introduction to global macro from a professional investor's perspective. Then, you will discover how some key historical events have shaped this field. You will also learn how future events, such as increased competition and specialization, are pushing today's global macro manager into the realm of global micro investing. With this information in hand, you'll go Inside the House of Money through a collection of in-depth interviews with a variety of money managers, each with a unique perspective and approach to global markets, including:

• The Family Office Manager: Jim Leitner (Falcon Management)
• The Prop Trader: Christian Siva-Jothy (SemperMacro)
• The Treasurer: Dr. John Porter (Barclays Capital)
• The Central Banker: Dr. Sushil Wadhwani (Wadhwani Asset Management)
• The Dot-Commer: Peter Thiel (Clarium Capital Management)
• The Pioneer: Jim Rogers
• The Commodity Specialist: Dwight Anderson (Ospraie Management)
• The Emerging Market Specialist: Marko Dimitrijevic (Everest Capital)
• And others

Filled with in-depth insight and real-world experiences of top hedge fund traders, Inside the House of Money reveals how the best minds in the business identify and profit from opportunities in every corner of the globe.

Praises for the Book:
"Everyone loves to talk about hedge funds—except the people who actually run them. Until now. This book offers a unique and illuminating insight into a hitherto inaccessible and sometimes downright secretive world. And quite fascinating it proves to be. Future historians will thank Drobny for capturing the thinking that underlies a quiet financial revolution."--Niall Ferguson, Laurence A. Tisch Professor of History, Harvard University and author of Colossus: The Rise and Fall of the American Empire

"We learn from these interviews of successful global macro investors that they share a style of thinking: they consider a strikingly broad list of factors influencing markets, they are exquisitely alert to nuances of timing and place in history, and, perhaps most fundamentally, they seem to think along broadly inductive rather than deductive lines."--Prof. Robert J. Shiller, Cowles Foundation for Research in Economics International Center for Finance, Yale University and author of Irrational Exuberance

"Drobny's book will become the bible for those who want to understand the Byzantine minds of the world's top macro traders. It captures their brilliance as well as their many idiosyncrasies, and explains how they have made billions of dollars from the sanctity of small offices in New York and London. A great book about the rarest breed in the global markets—those who can consistently make money, almost out of thin air."--Gavyn Davies, Chairman, Fulcrum Asset Management former chief economist, Goldman Sachs

"What a wonderful way to get into a macro trader's mind! I am so glad that this book exists. I will make my students read it."--Nassim Nicholas Taleb, author, of Fooled by Randomness

"Drobny's book is not only fun reading but also offers unique insight into how financial market movers and shakers think and act. This is a definitive, must-read for any serious investor."--Felix W. Zulauf, President, Zulauf Asset Management AG

About the Author:
Steve Drobny is cofounder and partner of Drobny Global Advisors (DGA), an international macroeconomic research and advisory firm that counts many of the leading global hedge funds as clients. Prior to starting DGA, Drobny worked for Deutsche Bank's Hedge Fund Group in London, Singapore, and Zurich. Drobny holds a master's degree from the London School of Economics and Political Science and a bachelor's degree from Bucknell University. Please visit www.insidethehouseofmoney.com for information on Drobny, DGA, and this book.

Author Website: www.insidethehouseofmoney.com