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Aaron N. Tubbs

Dragon chaser.

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I just finished reading Running Money last night. It’s a book about a guy that runs a hedge fund, his experiences, insights, and on and on. The most confusing thing about the entire book is that it Kessler’s “hedge fund” seemed to be more of a mutual fund, as nothing to do with shorting, derivatives, or arbitrage entered the game. It may be the case that a lot of the long exposure he had was on margin, or something else that’s beyond my crude understanding of the industries, but this isn’t a book that is going to teach you how somebody at a stat arb firm thinks. I thought the book was well-written as a bit of a primer into the buy side during the dot com era, but was not nearly as entertaining as, say, Liar’s Poker. Some of Kessler’s insights are clever and interesting. Other insights are just too convenient or abstracted; his dialog with “Mr. Zed,” which starts out as finding the connection between the tech bubble and the industrial revolution, ends as a multi-page grand unifying theory, even going to the extent of trying to explain happiness; I think he’s setting his goals a little high. In any event, good bathroom reading, but nothing particularly exciting in terms of insight or entertainment. 5/10