Diary of a Very Bad Year: Confessions of an Anonymous Hedge Fund Manager Review
The content of the book makes it hard to believe that this was a real interview, since while the information is not bad, it is at a very basic level, which might have bored any finance professional (but if the Anonymous HFM really wanted to teach, that would explain things). For what it is, it is quite good, and the lay reader will learn what all the big words mean. There are (but very few) nuggets you might not find anywhere else (such as: why did Bear Stearns fail?), but the general point of view is quite mainstream and follows the government party line (curiously, the government party line does not really depend on which party is doing the governing). For example, the HFM seems to believe that Lehman should have been bailed out, which most finance people I know do not, but to each his own, I suppose.
Diary of a Very Bad Year: Confessions of an Anonymous Hedge Fund Manager Feature
- ISBN13: 9780061965302
- Condition: New
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Diary of a Very Bad Year: Confessions of an Anonymous Hedge Fund Manager Overview
The First Book from n+1—an Essential Chronicle of Our Financial Crisis
HFM: Where are you going to buy protection on the U.S. government's credit? I mean, if the U.S. defaults, what bank is going to be able to make good on that contract? Who are you going to buy that contract from, the Martians?
n+1: When does this begin to feel like less of a cyclical thing, like the weather, and more of a permanent, end-of-the-world kind of thing?
HFM: When you see me selling apples out on the street, that's when you should go stock up on guns and ammunition.
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Customer Reviews
Clear perspective on some crazy times - Toby Barlow - Brooklyn
I wholly enjoyed this book. It's educational, entertaining, and somewhat nerve wracking once you sense how close we got to something like a complete meltdown. It helped me understand what the hell just happened. Should be required reading for all econ students.
Bad Year Good Book - C. Wagner - Philippines
If I would have known that this was a book of edited transcripts of interviews I probably wouldn't have bought it; but I didn't and I did and I'm glad I did. Unlike some of the other reviewers, I have read a lot about the financial crisis but this book is a unique look at that crisis from the heart and mind of an insider who lived through it. Anonymous is not cigar chomping Neanderthal, Wall Street aristocrat or a nerdy math wizard. He is sort of a really smart everyman; a guy you'd like to have a beer with. So buy this book get in the hammock with a beer and enjoy your weekend.
Don't Read Just One! - Lao T. Sue - Virginia
This is a good book when combined with others. It can give the reader a good, intuitive introduction to how trading and markets work. If you read this book and no others, you'll know a little and have been entertained. If you go on from this book, you'll find it can serve as a good base for further learning. As someone with experience in the securities business, I enjoyed HFM's clarity of exposition, but didn't find him the brilliant chap the interviewer seems to believe he is. He's a smart guy, no doubt, and he thinks a lot about what he does, but let's not blow this out of perspective, folks. His thoughts on Lehman Bros, Bear,AIG and Madoff are particularly interesting. Not a classic, but a good exposition.
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