Book Review: More Money Than God

By: ispeculatornew
Date posted: 03.27.2013 (3:00 am) | Write a Comment  (0 Comments)

      Post a Comment

In my most recent vacations, I was able to read a very interesting book about Hedge Funds;  More Money Than God by Sebastian Mallaby

It gave a very interesting point of view on the history of hedge funds, why they were created and how they worked initially. It gave a very unique point of view on the hedge fund industry and especially on the more known collapses such as Long Term Capital Management, Amaranth, etc. A lot of good insight into how such crisis are lived out from the inside of these firms and portrays a more human side to hedge funds than we are used to seeing.

Also very interesting is how the author slowly makes his point that hedge funds should NOT be regulated, a point of view that is not so common. Even less common is finding someone that is able to make such a strong case for regulators to stay away from hedge funds.

You could probably (rightfully) say that I’m not the toughest guy to convince because I do very much believe in the benefits of having hedge funds in our system even though leaving them entirely free is not the solution in my opinion either.

All in all, a very interesting read. The one thing I would have liked to see more is more discussion regarding some of the arguments of those in favor of hedge fund legislation. I think insider trading will become a huge issue in the coming decade. I will have to write more about this at some point but it makes it very difficult for others like you and I to compete. I think that hedge funds have became more powerful over the years and it’s unclear to me how that should be managed. Having absolutely no regulation seems a bit unlikely and while I thought it was very informative to hear a well explained view from the other side, the argument seemed to go a bit too far.

In the end, still a great read and I highly recommend anyone interested in hedge funds get a copy:)

If you liked this post, you can consider subscribing to our free newsletters here


No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.