The Alpha Masters (Maneet Ahuja)

Trader's Library #17 · Interviews with traders. A gallery of hedge fund managers and their biggest bets.

Author: Maneet Ahuja · Original: The Alpha Masters · Year: 2012 · Usefulness for traders: ★★★☆☆

What it's about

Portraits of the managers of the biggest hedge funds, including Ray Dalio, John Paulson, Bill Ackman, Jim Chanos (short selling) and Paul Singer. Each chapter describes their investment philosophy and biggest trades.

What it gives a trader

It shows the variety of styles: from macro through activism to short selling. For a trader the interesting parts are the stories of bets against the consensus and how the managers justified their thesis and risk.

Lessons for traders

• a thesis without a plan for being wrong is gambling
• a bet against the crowd requires evidence and patience (herding, Atlas of biases #31)
• different styles can work if they're consistent

What to watch out for

More about investing than trading. The portraits can be flattering.

Discussion

The discussion takes place in Hetman Capital Club (in Polish). Join the discussion in the Club →

Navigation

← #016 Market Sense and Nonsense (Jack D. Schwager) · Library index · #018 Market Masters (Michael McCarthy) →

Educational content, not investment advice. The book description is my own summary and assessment, not quotations. Edition details were checked in catalogues and bookshops, and where there was doubt I said so plainly.