Hedgehogging

By admin • Jul 8th, 2008 • Category: Finance

Hedgehogging

Hedgehogging
By Barton Biggs

Publisher: Wiley
Number Of Pages: 308
Publication Date: 2008-02-04
ISBN-10 / ASIN: 047006773X
ISBN-13 / EAN: 9780470067734
Binding: Paperback

Praise for HedgeHogging

“Barton Biggs writes about markets with greater style, clarity, and insight than any other observer of the Wall Street scene. His new book, Hedgehogging, entertains immensely even as it provides countless valuable lessons regarding hedge funds and the investment world they inhabit.”
—David F. Swensen, Chief Investment Officer, Yale University

“Since the glory days of the tech bubble, investing has become a perilous enterprise. Not the least for those running money in the proliferating hedge fund business. In Hedgehogging, Biggs offers a fascinating glimpse behind the scenes at the personalities and egos making decisions about the enormous sums being dumped en masse into these funds. This book is great. It’s full of personal anecdotes and critical insights from an insider’s insider. You should not even consider giving money to anyone on Wall Street ever again until you’ve read this book.”
—Addison Wiggin, Agora Financial LLC, author of the New York Times bestseller, The Demise of the Dollar and coauthor of Empire of Debt

Rare is the opportunity to chat with a legendary figure and hear the unvarnished truth about what really goes on behind the scenes. Hedgehogging represents just such an opportunity, allowing you to step inside the world of Wall Street with Barton Biggs as he discusses investing in general, hedge funds in particular, and how he has learned to find and profit from the best moneymaking opportunities in an eat-what-you-kill, cutthroat investment world.

Praise for HedgeHogging “”Barton Biggs writes about markets with greater style, clarity, and insight than any other observer of the Wall Street scene. His new book, Hedgehogging, entertains immensely even as it provides countless valuable lessons regarding hedge funds and the investment world they inhabit.”" David F. Swensen, Chief Investment Officer, Yale University “”Since the glory days of the tech bubble, investing has become a perilous enterprise. Not the least for those running money in the proliferating hedge fund business. In Hedgehogging, Biggs offers a fascinating glimpse behind the scenes at the personalities and egos making decisions about the enormous sums being dumped en masse into these funds. This book is great. It’s full of personal anecdotes and critical insights from an insider’s insider. You should not even consider giving money to anyone on Wall Street ever again until you’ve read this book.”" Addison Wiggin, Agora Financial LLC, author of the New York Times bestseller, The Demise of the Dollar and coauthor of Empire of Debt Rare is the opportunity to chat with a legendary figure and hear the unvarnished truth about what really goes on behind the scenes. Hedgehogging represents just such an opportunity, allowing you to step inside the world of Wall Street with Barton Biggs as he discusses investing in general, hedge funds in particular, and how he has learned to find and profit from the best moneymaking opportunities in an eat-what-you-kill, cutthroat investment world.

Summary: A Hidden Gem
Rating: 5

It is a modern version of Reminiscence of A Stock Operator, the all-time investment classic. It talks about the peril of shortselling and the crowded space of hedge fund universe. Perhaps it is a trend, or an opinion from an expert you or I should take heed.

Summary: Very insightful!
Rating: 5

This book provided a lot of insight into the hedge fund industry. It’s not overly technical, but at the same time provides a succinct view of professional investing in general, and the nature of the money game. A must read for any die-hard investment buff.

Summary: Amusing stories about money managers
Rating: 4

Barton Biggs is a hedge fund manager. The book reads like his journal. The reader finds out about various investment strategies through Biggs’ conversations with other money managers. Don’t expect to learn much about investing. There is very little depth when he discusses each of these strategies. There are lots of investment strategies – he even talks to a guy who is only into gold. Stories and characters are moderately interesting. Many of the characters remain anonymous and I thought that took something away from the stories. I don’t question their truthfulness though.

The writing is actually pretty good. I thought the real take home message should be to avoid money managers who charge you huge fees for their services, but of course that would go against Biggs’ interests and the rest of his friends’ interests as well. Although in all fairness he does point out some of the pitfalls of giving your money to managers such as the effect it will have on your tax bill. I think investors do not consider the effect of taxes enough when they study gains by various mutual funds/hedge funds. There is also some talk about fund of funds which I was not aware of. Charlie Munger (Warren Buffett’s partner) mocked this concept by suggesting a fund of funds of funds. The author apparently found one such fund in London. So if you feel like you are not giving enough of your money to commissions and not doing your part in enriching Wall Street bankers then consider investing in this fund.

Overall, amusing read but nothing spectacular. It is a quick read and Biggs is a pleasant fellow.

Summary: Fun intro to HFunds
Rating: 4

This is a fun book about the perils of launching a hedge fund. Barton Biggs is a very well traveled, informed and full of anecdotes investment professional. A lot of personal opinions, which I think are valuable even though one can agree or not.

Summary: entertaining for anyone dating a hedge fund guy
Rating: 5

I once dated a hedge fund guy and he handed me this book when I started asking questions. I found it very entertaining – and scary. I thought I knew a thing or two about hedge funds, but I had not imagined so much stress and anguish comes with the potential for glory. Almost a year has passed since I read the book, but I still remember the stories quite vividly. I’d recommend it to anyone who is dating a hedge fund guy.

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