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Running Money: Hedge Fund Honchos, Monster Markets and My Hunt for the Big Score

Andy Kessler

Running Money: Hedge Fund Honchos, Monster Markets and My Hunt for the Big Score - image
Rating: 4.0/5 Stars
Rank: 5764
Kessler has toned down the namedropping that permeated last year’s Wall Street Meat, and his less-than-appreciative stance towards much of the rest of the finance industry is also somewhat altered for this second memoir, in which he leaves the institutional investment world behind to co-manage a hedge fund.

Loosely connected episodes trace his attempts to attract investors and raise the $100 million he needs to be taken seriously, despite not having much of a game plan to start.

Then a series of conversations with the mysterious "Mr. Zed" lead Kessler to study the Industrial Revolution and the origins of networked computing as role models for the type of transformative market development a savvy investor needs.

These historical digressions are infused with a personal tone, but one that adopts an amiable key. Ultimately, Kessler decides the next big thing probably lies in "high margin" areas like intellectual property that can be sold for much more than they cost to create. According to his admittedly "counterintuitive" scenario, American investment in foreign products will develop their economies so they can invest in our intellectual property and the companies that make it, generating wealth all around.

This new level of seriousness could attract readers who value potentially beneficial economic speculation over easy digs at industry players, while those who admired Kessler’s in-your-face attitude the first time around will still find plenty to appreciate here.
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About the Author

Andy Kessler is a former hedge fund manager and Wall Street analyst. His previous exploits were chronicled in Wall Street Meat: My Narrow Escape from the Stock Market Grinder and Running Money: Hedge Fund Honchos, Monster Markets and My Hunt for the Big Score.

He writes often for the Wall Street Journal op-ed page, Wired Magazine and other publications.

He lives in northern California.



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Editorials

Sample 3 of 11

Running Money: Hedge Fund Honchos, Monster Markets and My Hunt for the Big Score
Andy Kessler
 Financial Times
"One can just hear Wall Street denizens asking each other if they have read Running Money yet."
 Barron's
"One of the best books of 2004"
 Book Description
A brilliant investor, a born raconteur and an overall smart-ass, Andy Kessler pulls back the curtain on the world of hedge funds and shows how the guys who run big money think, talk and act. Following on the success of Wall... read full editorial




Customer Reviews

Sample 3 of 24

Running Money: Hedge Fund Honchos, Monster Markets and My Hunt for the Big Score
Andy Kessler
 Inside Silican Valley
(Coastal Georgia) October 5, 2004 - 5.0/5 stars
An excellent book, easy to read, detailing the development of the computer in the eyes of an investor. Lots of once-famous company names and people that disappeared, and why it happened. Insight into the qualities... read full review
 Limited insight, single opinion into a large industry
(Glendale, WI United States) December 10, 2004 - 3.0/5 stars
'Running Money' is about the 8th book i've read on the 'Insiders Look at Investing'. Overall, Kessler's book is the shallowest. Kessler gives summary views on his opinions. It's not deep, it's flippant. The book... read full review
 A second-rate book with intellectual pretensions
(Glendale, WI United States) January 20, 2005 - 2.0/5 stars
Although "Running Money" is peppered with the same brand of sophomoric humor that permeated Kessler's first book, "Wall Street Meat", this book clearly has intellectual pretensions, with Kessler repeatedly adopting... read full review




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