Quote from TimothySykes:
Its fine if you don't like it, but to say the title is misleading is simply inaccurate. I don't claim to be the great American hedge fund, just an example of one startup fund
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i do say SOME people would like it (see below #1). it could have been far, far worse - it's not wade cook or anything terrible like that. it's light reading.
title has three parts:
the first is an american hedge fund
if you ask most people, their idea of a hedge fund is FAR larger than what you had. i believe the average fund had 150mm under management in 2006.
the rest of it is cheap attempts to capitalize off the success of two classic books by livermore and darvas, and bears no resemblance to either. livemore's is full of trading nuggets which were not generally known (save some writing by wyckoff, neill, etc.) and darvas' is a how-to course on buying breakouts, using stops, etc. - again, at the time, classic stuff. and it still works. yes, there's the 'short high flyers' part in yours, but that's such a small part of the book.
Some people wanted a hardcore strategy book, but I think sharing personal experiences is much more helpful
which is why i said in my review (which has been posted elsewhere) that:
<i>who would enjoy this book? (1) people who watch cnbc as a hobby or a social friend. voyeurs who like to imagine the successes of others being their own. and, sure, people who have never read a trading book before - or don't know what things were like in the late 1990s - can gain some information here. it is well-written, even when it strays from the main focus of a trading book. <b>but with the proliferation of so many better trading books and with this one having such a misleading title, why spend the money to get this one?</B></I>
just thinking about it - if you were already a bonafide celebrity, this would be a much more justifiable book to write. cramer *could* have gotten away with this kind of book, but thankfully didn't (see below, #2)
and off the top of my head: books which combine some or all of what you state you're doing, but do it *well* (note: some are purely strategy books, some incorporate the author's life into the picture. and i'm leaving out a lot here):
_techniques of tape reading_ - schumacher / graifer
(2) _confessions of a stock (something) - cramer
_trade like a hedge fund _ - altucher
dave landry's materials
trader vic's first book.
stan weinstein's book.
tony oz
linda raschke
