Book Review of "An American Hedge Fund" by Timothy Sykes
- Great read for a trader, or anyone aspiring to be a trader or start their own hedge fund
- The book stresses the important discipline of trading, I don't think the importance of discipline can ever be stressed enough for any career track
- The book is written from the perspective of a small hedge fund, this is unique. 80% of hedge funds have under $50M in assets yet all of the press and well known stories is about the huge funds in London and NY
- Many people criticize Tim's book, some go as far as to say that he doesn't have the right to write a book because he wasn't successful enough. Rubbish. First of all learning from other failures is always important and Tim admits part of the value of the book is learning from his mistakes. Second, I believe everyone has the right to write a book and I would dare any of his largest critics to write a more interesting or unique store of how they got to age 25 .
- He is open and honest in this book, which is reare in the very close vested world of hedge funds. Most hedge fund professionals are known for living by the mantra "loose lips sink ships."
- The book is more about trading than a hedge fund, the meat of the book is about his personal journey and battle against the discipline of emotions involved in trading
- I can't help but think that if his message is discipline why didn't he climb back on the horse and refine his own abilities to be more disciplined and perfect his trading or work for a larger trading house or hedge fund?
- As a review on what happened with his hedge fund launch it would seem like the 3 big mistakes to learn from were investing in the ticketing company, lack of trading discipline, and not building a full hedge fund team or third part marketer to promote his fund.
Overall the book was an easy quick read and pretty interesting if you are currently a trader or looking at starting your own fund. I don't think it is of the same quality of Running Money but I did get latched on to it finding myself reading it during my lunch breaks and rides home from work.
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