This post is in continuation of my book review series (see here)
The book “More Money Than God” by Sebastian Mallaby is one of my favorite books.
It traces the history of hedge funds from the time of Alfred Winslow Jones to present times.
I just love the way he catalogs the successes and failures of the strategies of different hedge fund managers.
For the serious investor, there are lots of learnings in this book.Why some strategies work at some point in time, why some don’t , how competition / imitation can destroy the best of strategies etc
You get a new found respect (or awe) for some of the best brains in the business, especially George Soros.
It also full of great anecdotes and one liners.One more memorable one liner is the one uttered by Robertson of Tiger Funds talking about his spectacular fund performance “It’s me and the patsies !!”
I would strongly strongly recommend to read this book…its a must have for all those managing funds/portfolios.