Timely investment advice from the investors who survived--and thrived--during the economic crisis In light of the colossal losses and ongoing difficulties caused by the financial crisis, it's obvious that the time has come to rethink money management in the broadest of terms. Drastic changes are clearly in order, but no new model has yet been implemented. Steven Drobny explores a new model from a simple starting point--by consulting the traders and managers who actually made money during this profoundly difficult period. In The Invisible Hands , top global macro managers reveal their own (clearly successful) approaches to markets and risk, suggesting important tenets for money management in a future, precarious world.
Providing money managers and investors with the proven expertise of the best and most successful players in money management and detailing many specific elements of their risk management processes, The Invisible Hands : Outlines investment strategies for the rocky road ahead Provides guidance on how real money managers can implement certain elements of macro hedge fund strategies, developing a new paradigm of portfolio construction anchored in superior risk management Reveals intimate aspects of the investment processes of some of today's top hedge fund managers The book highlights the similarities among successful traders, showing that the investment process should be anchored in understanding the true risk-adjusted returns in your portfolio.
Table of Contents
Foreword ( Jared Diamond ) Preface. PART ONE REAL MONEY AND THE CRASH OF '08. Chapter 1 Rethinking Real Money. Chapter 2 The Researcher: Dr. Andres Drobny, Drobny Global Advisors. Chapter 3 The Family Office Manager: Jim Leitner, Falcon Management. PART TWO THE INVISIBLE HANDS. Chapter 4 The House. Chapter 5 The Philosopher. Chapter 6 The Bond Trader. Chapter 7 The Professor. Chapter 8 The Commodity Trader. Chapter 9 The Commodity Investor. Chapter 10 The Commodity Hedger. Chapter 11 The Equity Trader. Chapter 12 The Predator. Chapter 13 The Plasticine Macro Trader. PART THREE FINAL WORD. Chapter 14 The Pensioner. Conclusion. Acknowledgments. Bibliography. About the Author. Index
Steven Drobny is the founder of Drobny Global Asset Management, a full-service asset management, investment advisory, and consulting firm focused on global macro and commodity hedge fund strategies. He is also the author of the critically acclaimed The Invisible Hands: Top Hedge Funds on Bubbles, Crashes and Rethinking Real Money (Wiley) and Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets (Wiley) . Please visit www.drobnycapital.com for more information on Mr. Drobny and his books.