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New commentary and updates to enlightening interviews with today's top global macro hedge fund managers

This updated paperback edition of Inside the House of Money lifts the veil on the typically opaque world of hedge funds offering a rare glimpse at how today's highest paid money managers approach their craft. Now with new commentary, author, Steve Drobny takes you even further into the hedge fund industry. He demystifies how these star traders make billions for their well-heeled investors, revealing their theories, strategies and approaches to markets.

Whereas some still maintain that rationality permeates financial markets, Drobny captures a different dimension, showing how the unquantifiable human forces of emotion and intuition are also at play. Along the way, readers get an inside look at firsthand trading experiences through some of the major world financial crises of the last few decades.

Discusses how no market or instrument is out of bounds for these elite global macro hedge fund managersOffers unique and illuminating insight into an inaccessible and sometimes downright secretive worldWritten by respected industry expert Steven Drobny

Highly accessible and filled with in-depth expert opinion, this updated paperback edition of Inside the House of Money is a must-read for financial professionals and anyone else interested in understanding how greed, fear, and the human forces of emotion drive world markets.

Publisher ‏ : ‎ Wiley; Revised and Updated edition (December 16, 2013)
Language ‏ : ‎ English
Paperback ‏ : ‎ 368 pages
ISBN-10 ‏ : ‎ 1118843282
ISBN-13 ‏ : ‎ 978-1118843284
Item Weight ‏ : ‎ 2.31 pounds
Dimensions ‏ : ‎ 6 x 1.2 x 9 inches
Reviewer: Ravi Madhavan
Rating: 5.0 out of 5 stars
Title: Master's of the Universe
Review: I thought I would lose interest in this book as it is a Q and A Interview style rather than a narrative style. However the book captured my interest from the very first profile. It was a great mix of trading philosophy, how they got into global macro investing, and their perspective on their world view. It was fascinating to see the intellectual challenge that global macro investing presents. The breadth of knowledge the profiled traders learn and use covers history, finance, economics, politics, psychology and many other areas. In addition the Steven Drobny's questions lead to answers that are contrary to our conventional view of the Master's of the Universe: they know they will make mistakes and tailor their approach to be ready for it and learn from it. My favorite chapters were the ones on Leitner, Thiel, Anderson, and Dimitrijevic. The last two profiles were weaker compared to the others but I still gave the book five stars considering I started out with a negative view of the book based on narrative style.

Reviewer: P. Scott Pope
Rating: 4.0 out of 5 stars
Title: Replete with Useful Information on Global Macro Traders and Their Trades, Precise Time of Interviews Missing
Review: Unlike many other books that discuss hedge funds, Inside the House of Money is both entertaining and useful. Specifically, it provides condensed interviews of several star investors (Jim Rogers, Peter Thiel, Yra Harris, Christian Siva-Jothy, etc) and some lesser known players in the global macro hedge fund industry. As the book covers "global macro", a wide range of investments are discussed - equities, commodities, bonds, options, interest rate options, and others. What makes this book better than other mainstream texts is the inclusion of useful, actionable information. Two particularly relevant topics include favorite trades and issues that worry managers. In total, the quality of content in this book inspires the reader to take notes.As one might suspect, there is often a tinge of eccentricity with certain top traders. It is an electric group of people, including a billionaire dot-com entrepreneur, former central banker, a Goldman Sachs star prop trader, and family office manager - in NYC, London, San Francisco, Chicago and even Miami. The breath of the traders and styles is impressive.One particular notable interviewee was Goldman Sachs prop trader Chrisitan Siva-Jothy. In the book, he discussed how he made millions in London making a lightning-fast bet that initial reports on 9/11 were, in fact, indicative of a terrorist attack. While this may be unsettling, it illustrates how top investors make their money - by seeing signals and patterns before others. On occasion, you will find wisdom to be incorrect. This can be due, in part, to the timing of the book's release. For example, Jim Rogers is somewhat ambivalent on gold suggesting that other commodities were superior investments. The Rodgers paragraph illustrates one problem with this book in that the author doesn't reveal the precise time of the interviews. Sometimes this can be inferred, but it would be nice if Drobny time-stamped the interviews.Overall, this is one of the best hedge fund texts covering a wide range of styles and investments. One possible improvement for more technical readers would be greater detail on specific trades. Also, as previously mentioned, the author should have provided the specific times of his interviews. Even with such shortcomings, I would recommend this book to anyone interested in trading or hedge funds in general.

Reviewer: gaurav singh
Rating: 5.0 out of 5 stars
Title: A class apart !
Review: Amazing read ! Enjoyed every story, particularly the last one.

Reviewer: Nirav sut
Rating: 5.0 out of 5 stars
Title: This book provides excellent insights on Hedge Funds trading styles
Review: This book provides excellent insights on Hedge Funds trading styles. Quality of print is fantastic. You should be familiar with financial jargon and basic understanding of the same before you pick it up.

Reviewer: Happy in New York City
Rating: 4.0 out of 5 stars
Title: Very Good Hedge Fund Overview on Macro Managers
Review: Excellent book that gives the reader a basic understanding of what is a Global Macro Hedge Fund Manager. Written in English versus "finance terms" it has a wealth of information for both veterans and novices in the Hedge Fund space. It is a quick read that leaves you more knowledgeable at the end. I enjoyed reading the interviews with the hedge fund managers that normally never open up their world to the public.

Reviewer: Mark Pink
Rating: 5.0 out of 5 stars
Title: I love the format and the direct answers
Review: If you could have in-depth interviews with top hedge fund "masters of the universe" what would you ask? I suspect it would be the very same questions that Steven Drobny, the author, asks in this book. I love the format and the direct answers, that are always clear and concise. This book was an instant knowledge widener for many of the best hedge fund fundamentals needed as an overview. It served the right purpose for me at the right time. It certainly reminds me of the "Market Wizards" series in its style and format. In a similar way, it has high quality insight with every chapter.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!Please visit us for our Friday Feature Review where TMJ Partners Blog will review books, movies, services and anything else with a financial theme. Follow us now for our free TMJ Partners weekly updates on LinkedIn, home of TopMoneyJobs.com. Thank you for reading and learning more about how money is made in finance!

Reviewer: Mike Lawrence
Rating: 5.0 out of 5 stars
Title:
Review: This book gives the reader a great peek into the world of global macro, what hedge fund managers do and why they do it. It cuts right to the chase in terms of concepts and jargon, so something a bit more for those with some experience, but a great and enlightening read for all.

Reviewer: Kerim
Rating: 5.0 out of 5 stars
Title:
Review: Çok güzel konuşmaya gerek yok hizmetten memnunum

Reviewer: Andrea marina Ceribelli
Rating: 3.0 out of 5 stars
Title:
Review: Sconsiglio a chi ha già una conoscenza base nel settore

Reviewer: Danny Merkel
Rating: 5.0 out of 5 stars
Title:
Review: If you liked reading Market Wizards, then you'll probably also like "Inside the House of Money".The book has many great interviews and valuable trading lessons from legendary traders including: Paul Tudor Jones, Stanley Druckenmiller, Richard Dennis, and George Soros.-@ChartingTrends

Reviewer: MD SAFDAR IMAM FATMI
Rating: 5.0 out of 5 stars
Title:
Review: very good book