Inside the House of Money
A recent post by Nouriel Roubini of RGE Monitor talks about the book - Inside the House of Money - by Steve Drobny. The book contains 13 long and detailed interviews with global macro hedge funds managers, each representing a different trading style and approach.
What is this select group’s collective prognosis? Shakeout.
Peter Thiel, whose Clarium Capital charges no annual fee but takes 25% of any profits, maintains that ”we are living in a world distorted by the biggest financial bubble ever seen,” adding that ”there has to be a deleveraging of the world’s financial system.”
Yra Harris concurs that ”global risk is way out of line right now” and that ”there’s not enough liquidity to absorb a blowup.” But he also says that it can be costly anticipating that something ugly is bound to happen, because it may not happen for a while. ”If you’re right at the wrong time,” Mr. Harris says, ”you’re wrong.” So they’re all in.
Added to my Amazon wish list.
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