The Alpha Masters

The Alpha Masters

Unlocking the Genius of the World's Top Hedge Funds

Book - 2012
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"The ultimate behind-the-curtain look at the hedge fund industry, unlocking the most valuable stories, secrets, and lessons directly from those who have played the game best.Written by Maneet Ahuja, the hedge fund industry insider, The Alpha Masters brings the secretive world of hedge funds into the light of day for the first time. As the authority that the biggest names in the business, including John Paulson, David Tepper, Bill Ackman, and David Einhorn, go to before breaking major news, Ahuja has access to the innermost workings of the hedge fund industry. For the first time, in Alpha Masters, Ahuja provides both institutional and savvy private investors with tangible, analytical insight into the psychology of the trade, the strategies and investment criteria serious money managers use to determine and evaluate their positions, and special guidance on how the reader can replicate this success themselves.There are few people with access to the inner chambers of the hedge fund industry, and as a result it remains practically uncharted financial territory. Alpha Masters changes all that, shedding light on star fund managers and how exactly they consistently outperform the market. The book: Contains easy-to-follow chapters that are broken down by strategy--Long/Short, Event Arbitrage, Value, Macro, Distressed, Quantitative, Commodities, Activist, pure Short, Fund of Funds. Includes insights from the biggest names in the trading game, including Ray Dalio, David Shaw, Marc Lasry, Jim Chanos, Sonia Gardner, Pierre Lagrange, and Tim Wong. Features contributions from industry icons Mohamed El-Erian and Myron Scholes. Many of the subjects profiled in this groundbreaking new book have never spoken so candidly about their field, providing extremely provocative, newsworthy analysis of today's investing landscape"-- Provided by publisher.
Publisher: Hoboken, N.J. : Wiley, c2012
ISBN: 9781118065525
Characteristics: xxv, 245 p., [8] p. of plates : ill., charts, graphs, ports., photos. ; 24 cm


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JCS3F Nov 06, 2012

‘The Alpha Masters’ begins with a lengthy disclaimer, which states that nothing in the book should be construed as a solicitation or offer to sell securities. I’ve read a number of financial books and I’ve never seen such a disclaimer. Just a few pages in and I realized why it might be needed. The word ‘hagiography’ came to mind. Ahuja writes like an adoring acolyte sitting at the foot of her spiritual mentors. There isn’t even a hint of criticism from Ahuja. No devil’s advocate perspective. More importantly, Ahuja’s explanation of hedge fund strategy is hazy at best. The combination of a notoriously cryptic industry and a 27 year old first time author with a questionable grasp of finance is deadly and makes ‘The Alpha Masters’ practically unreadable. There are a few glimmers in the rubbish, however. In particular, there is a simple, elegant explanation of the merits of shorting a bond trading at or near par with a narrow spread to treasuries that comes later in the book (perhaps in the section on Chanos). But these insights are the exception and Ahuja leaves us feeling about as informed as we would have been had we just spent the afternoon watching CNBC instead.


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