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Some highly recommended books

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Market Wizard
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More Money Than God

I must admit that I did not like the title of this book. There are many authors around that have fed on the hype following the financial crisis without contributing a lot.

I finally bought this book, and I do not regret. It is a well researched story of the history of hedge funds. It accurately tracks the fate of famous traders and their funds, explains their trading styles, the great success stories and the great failures.

The author is a former board member of the Washington Post, was the International Finance Correspondant for The Economist and currently works for the Council On Foreign Relations (CFR), where he holds the position of the Director of the M.R. Greenberg Center for Geoeconomic Studies.

The book is extremely well researched, as the author has conducted around 150 interviews with traders and other members of the financial community. The cited sources alone cover 55 pages.

In a way the book can be compared to Jack Schwager's Market Wizards, but with a lesser focus on the personal histories of the traders. By contrast it gives a far better overview of the evolution of the financial markets, which provided the context for the different trading strategies during the last 30 years.

I enjoyed reading the book.

Sebastian Mallaby - More Money Than God: Hedge Funds and the Making of a New Elite

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