Hedge Hogs
Book description
For readers of The Smartest Guys in the Room and When Genius Failed, the definitive take on Brian Hunter, John Arnold, Amaranth Advisors, and the largest hedge fund collapse in history
At its peak, hedge fund Amaranth Advisors LLC had more than $9 billion in assets. A few weeks later,…
Why read it?
2 authors picked Hedge Hogs as one of their favorite books. Why do they recommend it?
A relatively new arrival on the list, Dreyfuss’s diligently crafted book is the most in-depth look at one of Wall Street’s most spectacular, if lesser-known, collapses in 2006.
The book takes us through the rise of two forces in energy trading embarking on a collision course that would be the ruin of one and an immense windfall of the other. Amaranth hedge fund was an up-and-comer and darling of the hedge fund space. Boasting stellar returns on its several billion in capital, it was able to raise massive sums to hand over to its wunderkind energy trading guru, the Canadian…
From Brad's list on what makes commodities traders tick.
As opposed to another “teach me how to trade” book, Hedge Hogs is the entertaining cautionary tale of Brian Hunter and his failure to manage risk at Amaranth (one of the largest commodity trading hedge funds until its demise in 2006). The book also showcases the trader that was “generally” on the other side of Amaranth’s bullish bets in natural gas, John Arnold of Centaurus Capital. Although this book won’t help you develop the casino paradigm as a speculator, it teaches valuable lessons of modelling for liquidity risk as well as not allowing a single opinion (namely, that natural gas…
From Richard's list on for trading like a casino.
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