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Running Money: Hedge Fund Honchos, Monster Markets and My Hunt for the Big Score | |||
Running Money: Hedge Fund Honchos, Monster Markets and My Hunt for the Big Score |
A brilliant investor, a born raconteur and an overall smart-ass, Andy Kessler pulls back the curtain on the world of hedge funds and shows how the guys who run big money think, talk and act.
Following on the success of Wall Street Meat, his self-published book on the lives of Wall Street stock analysts, Andy Kessler recounts his years as an extraordinarily successful hedge fund manager. To run a successful hedge fund you must have an investing edge -- that special insight that allows you to reap greater returns for your clients and yourself.
A quick study, Kessler gets an education in investing from some fascinating and quirky personalities. Eventually he works out his own insight into the world economy, a powerful lens that reveals to him hidden value in seemingly negative trends. Focussing on margin surplus, Kessler comes to see that current American economy, at the apex of the information revolution, is not so different from the British economy at the height of the industrial revolution. Drawing out the parallels he develops a powerful investing tool which he shares with readers. Contrarian and confident, Kessler made a fortune applying his ideas to his hedge fund. Which only proves that they may not be as crazy as they sound.
作者简介 Andy Kessler worked on Wall Street for nearly twenty years as a research analyst, investment banker, venture capitalist, and hedge fund manager. He has written for the Wall Street Journal, Forbes, Thestreet.com, and the American Spectator, and appeared on CNBC, CNN, Nightline, and Dateline NBC. He lives in northern California with his wife and four sons.
媒体推荐 "(One of ) the best books you?ll find on technology, opportunity and entrepreneurship [to] hit bookstores." -- Rich Karlgaard, Forbes
"Andy Kessler's entertaining memoir will become required reading in the financial community." -- Financial Times
"Andy Kessler?s entertaining memoir will become required reading in the financial community." -- Financial Times
"Not just a macho rehash of the glory days, his lessons prove that a little skepticism goes a long way." -- Wired
"One can just hear Wall Street denizens asking each other if they have read Running Money yet." -- Financial Times
"One of the best books of 2004" -- Barron's
"Right place, right time, right questions. That's the formula in this smart - and smart-ass - take on investing." -- Wired
"Right place, right time, right questions. That?s the formula in this smart - and smart-ass - take on investing." -- Wired
"[One of ] the best books you?ll find on technology, opportunity and entrepreneurship [to] hit bookstores." -- Rich Karlgaard, Forbes
专业书评 From Publishers Weekly
Kessler has toned down the namedropping that permeated last year?s Wall Street Meat, and his less-than-appreciative stance towards much of the rest of the finance industry is also somewhat altered for this second memoir, in which he leaves the institutional investment world behind to co-manage a hedge fund. Loosely connected episodes trace his attempts to attract investors and raise the $100 million he needs to be taken seriously, despite not having much of a game plan to start. Then a series of conversations with the mysterious "Mr. Zed" lead Kessler to study the Industrial Revolution and the origins of networked computing as role models for the type of transformative market development a savvy investor needs. These historical digressions are infused with a personal tone, but one that adopts an amiable key. Ultimately, Kessler decides the next big thing probably lies in "high margin" areas like intellectual property that can be sold for much more than they cost to create. According to his admittedly "counterintuitive" scenario, American investment in foreign products will develop their economies so they can invest in our intellectual property and the companies that make it, generating wealth all around. This new level of seriousness could attract readers who value potentially beneficial economic speculation over easy digs at industry players, while those who admired Kessler?s in-your-face attitude the first time around will still find plenty to appreciate here.
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