A fast-paced ride through the world of hedge funds revealing the unvarnished truth of how Wall Street really operates, and how to use this to your advantage An insider's view of the high stakes world of money management, Diary of a Hedge Fund Manager is both a practical guide for investors and the deeply personal story of a man who knows the system inside and out. One of the best young portfolio managers on Wall Street, and helping to run the hedge fund operation of one of the world's most prestigious firms, Keith McCullough finds himself a lone voice of reason as the economic crisis of 2008 looms large. Shown the door, his life takes a fascinating turn into the world of independent research and no-holds-barred criticism.
* Reveals the unvarnished truth of how Wall Street and hedge funds really operate * Deftly details how to analyze the markets expertly and avoid group think using technical and fundamental measures * Each topic is thoroughly discussed and followed up with lessons you can take away and put to use Written with the authority of someone who knows how Wall Street and hedge funds work, yet accessible to even a casual follower of finance, Diary of a Hedge Fund Manager mixes a constructive critique of the investment industry with fundamental lessons that any investor will find valuable.
Keith McCullough is the founder of Research Edge, the go-to source for analysis and trade recommendations among savvy money managers. A Bloomberg TV Contributing Editor, he started in the business in 1999. Since then, he has held positions at Credit Suisse First Boston, Dawson-Herman Capital Management's Millennium Fund, and Carlyle Blue Wave, as well as launching his own fund, Falcon Henge Partners LLC, which was integrated into Magnetar Capital. Rich Blake was cofounder and executive editor of Trader Monthly magazine. He frequently contributes to CNBC's Power Lunch and to Alpha and Portfolio magazines. He is the author of two books, The Day Donny Herbert Woke Up and Talking Proud: Rediscovering the Magical Season of the 1980 Buffalo Bills.
Introduction 1 Chapter 1: Catch a Wave 9 Chapter 2: Shipping Out 17 Chapter 3: Welcome to the Jungle 29 Chapter 4: Snapshots from the Dot.Com Bubble 39 Chapter 5: Discovery 61 Chapter 6: Flying with the Giants 79 Chapter 7: Shifting for Myself 97 Chapter 8: Sucked In 115 Chapter 9: Worlds Collide 123 Chapter 10: Exile on Wall Street 139 Chapter 11: Lifting the Curtain 157 Chapter 12: The Great Squeeze 185 Epilogue 197 Acknowledgments 205 About the Authors 207 Index 209