Will you buy timmay's hedge fund book?
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Quote from marketsurfer:
here's some more kudos for tim's book:
http://www.thestalwart.com/the_stalwart/2007/07/hedge-funds.html
Hedge? Funds
It's become clear to me that my conception of what a hedge fund is (or should be) has little basis in reality. See, when I think of a hedge fund, I think of a fund that has identified some discernible arbitrage opportunity, arising from investor bias or regulatory incongruity. Either that, or the fund's strategy is the practical application of some obscure finance paper, perhaps embedded into some software that trades automatically. This view, however, is a little too idyllic it would seem, since a lot of funds are simply uni-directional bets on a certain asset or derivative. In the case of the recent Bear Stearns fiasco, some are actually claiming that the fund wasn't a hedge fund because there was no, you know, hedge. Or take last year's big blowup, Amaranth:
But what gets me is that Hunter's trade was so mind-numbingly dumb, an unsubtle bet, like betting a lot of capital that oil doesn't go below $50 next year. It doesn't suggest a strategy of any depth. Further, his position size was large enough (40% of the NYSE outstanding contracts for certain gas futures) that, like Long Term Capital Management's volatility trade in 1998, or Victor Niederhoffer's 1997 losses at the CME, market makers exaggerated the price movement when they sensed that a big position was going to have to cash out. Nothing moves prices more quickly than knowing a big player is going to have to buy back, or sell out, of his position. So Amaranth's strategy was doubly dumb.
That's what really surprised me when I first heard about Amaranth -- I assumed that there must've been something more than just a bet on the price of oil. I figured that there had to be, as Eric Falkenstein put it, more depth. After all, why lever up on a simple bet like this, if it just means that you're levering down at the same time?
This book isn't just about making money; itâs an inspirational yet realistic look at the world of trading and startup hedge funds."
--Chad Brand, President, Peridot Capital Management, LLC and author of The Peridot Capitalist
ââ¦a highly entertaining read, bristling with energy and passion. Tim possesses the rare gift of being able to teach market truths and entertain simultaneously. This book is a must read for all start up hedge fund managers and aspiring traders. Itâs potentially the new Reminiscences of a Stock Operator as it's definitely a future classic in this genre.â
--Dave Goodboy
"If you love the markets, you will love this story."
--Microcapspeculator.net
âThis is a great book about trading--I could hardly put it down! This is right up there with Confessions of a Street Addict as one of my all-time favorite books about stock traders."
--Fred Fuld III, Stockerblog.com
and these anonymous jokers on ET think they have influence?? give me a break!
surf
You fucking twit. You posted a blog entry and then the info about what people said about Tim's book are a shitty attempt at Tim to get this blog writer to read it. He added a comment to the website and you're too fucking dumb to realize that it was just Tim posting shit about his book. Hahaha, you two dumb fucks are like peas in a pod of retardation.
Quote from marketsurfer:
here's some more kudos for tim's book:
http://www.thestalwart.com/the_stalwart/2007/07/hedge-funds.html
Hedge? Funds
It's become clear to me that my conception of what a hedge fund is (or should be) has little basis in reality. See, when I think of a hedge fund, I think of a fund that has identified some discernible arbitrage opportunity, arising from investor bias or regulatory incongruity. Either that, or the fund's strategy is the practical application of some obscure finance paper, perhaps embedded into some software that trades automatically. This view, however, is a little too idyllic it would seem, since a lot of funds are simply uni-directional bets on a certain asset or derivative. In the case of the recent Bear Stearns fiasco, some are actually claiming that the fund wasn't a hedge fund because there was no, you know, hedge. Or take last year's big blowup, Amaranth:
But what gets me is that Hunter's trade was so mind-numbingly dumb, an unsubtle bet, like betting a lot of capital that oil doesn't go below $50 next year. It doesn't suggest a strategy of any depth. Further, his position size was large enough (40% of the NYSE outstanding contracts for certain gas futures) that, like Long Term Capital Management's volatility trade in 1998, or Victor Niederhoffer's 1997 losses at the CME, market makers exaggerated the price movement when they sensed that a big position was going to have to cash out. Nothing moves prices more quickly than knowing a big player is going to have to buy back, or sell out, of his position. So Amaranth's strategy was doubly dumb.
That's what really surprised me when I first heard about Amaranth -- I assumed that there must've been something more than just a bet on the price of oil. I figured that there had to be, as Eric Falkenstein put it, more depth. After all, why lever up on a simple bet like this, if it just means that you're levering down at the same time?
This book isn't just about making money; itâs an inspirational yet realistic look at the world of trading and startup hedge funds."
--Chad Brand, President, Peridot Capital Management, LLC and author of The Peridot Capitalist
ââ¦a highly entertaining read, bristling with energy and passion. Tim possesses the rare gift of being able to teach market truths and entertain simultaneously. This book is a must read for all start up hedge fund managers and aspiring traders. Itâs potentially the new Reminiscences of a Stock Operator as it's definitely a future classic in this genre.â
--Dave Goodboy
"If you love the markets, you will love this story."
--Microcapspeculator.net
âThis is a great book about trading--I could hardly put it down! This is right up there with Confessions of a Street Addict as one of my all-time favorite books about stock traders."
--Fred Fuld III, Stockerblog.com
and these anonymous jokers on ET think they have influence?? give me a break!
surf
"Itâs potentially the new Reminiscences of a Stock Operator as it's definitely a future classic in this genre.â
Wow....this suck up ass kiss has crossed a new line of stupidity.
It's all nice and cute how these little bloggers write up reviews..some are probably friends and cohorts....lets see a real review sometime.
Comparing Sykes to Livermore is by far the funniest/moronic thing I have seen.
Damn LH...you beat me to it.
Surf should really concentrate on his trading...probably the only thing funnier then calling Sykes similar to Livermore is surf's current trade in the dow. He keeps calling fo a death spiral as we continue to break new highs. The guy is in prayer mode....implosion of his account cant be too far off.
Whaaaat--I love these results!! The book is 3 months away from publication and yet your trash talking has made thousands of people aware of the book, increased my mailing list nicely, and gotten people emotionally involved--love or hate my story--now thanks to you guys, more people know about it.
I could care less if the majority of people don't want to read it right now, if I didn't know the truth and had only seen various articles and video clips of me, I'd probly think this was some stupid book, too. But....I now have over 60 blurbs from industry professionals and bloggers, all of whom are comparing it to Reminiscences of a Stock Operator, Confessions of a Street Addict, Darvas' How I Made $2 Million, and now Catcher in the Rye. I knew none of these people before this and many of them were hesitant to even read this because they thought I was such a jerk.
So, if the trend continues (which it probably will considering the book has been edited since this first round of review copies went out), then even the haters will be forced to satisfy their curiosity to see whether its as good as everybody says it is.
You people focus too much on all the big money in this business, you forget that few people outside the business even understand what trading is about or what hedge funds are.
I want to bring this great profession mainstream and although I'm far from being the ideal candidate to bring hedge funds to the masses, I'm going to do my best to bring honesty and honor so that the general public won't just think of billion dollar blow-ups (LTCM/Amaranth), obsession with power and greed (Gordon Gekko), fraud (lots of bastards)---financial speculation is our true national sport so people should be made aware of all the risks and rewards without having to put up with all the misinformation out there.
Quote from SiSePuede!:
You fucking twit. You posted a blog entry and then the info about what people said about Tim's book are a shitty attempt at Tim to get this blog writer to read it. He added a comment to the website and you're too fucking dumb to realize that it was just Tim posting shit about his book. Hahaha, you two dumb fucks are like peas in a pod of retardation.
you may be a great trader, i have no clue.
however, you obviously want something tim has, and cant get it in any other way than to continually rip on him. thanks for all the PR.
surf
Tim, if you made a couple hundred thousand dollars off this book, let's be honest, you'd fucking lose it because you're a schmuck. You can't make money trading and you're really on the downhill...you're fairly pathetic.
If you need to resort to ET for exposure to potential buyers you're in a sorry state of affairs douche bag.
If you need to resort to ET for exposure to potential buyers you're in a sorry state of affairs douche bag.
Quote from marketsurfer:
you may be a great trader, i have no clue.
however, you obviously want something tim has, and cant get it in any other way than to continually rip on him. thanks for all the PR.
surf
Rip him off of what? The money he's losing?
What about the fact that you're an idiot and posted a post by Tim?!
You must be related to stock_turder!