From the Inside Flap
Diary of a Hedge Fund Manager
is an insider's view of the high-stakes money management world. In a distinctly straightforward and, at times, humorous style, Keith McCullough and Rich Blake take you on the journey of a young and successful hedge fund manager and former junior hockey player from Thunder Bay, Ontario, as he gets recruited to the Ivy League, stumbles onto the nexus of the hedge fund universe, and then gets a crack at running his own pile—becoming one of the best young portfolio managers on the Street.
But when the young portfolio manager finds himself working for one of the world's most prestigious firms—helping to run their hedge fund operation just as the market is starting to crack in 2007—McCullough becomes a lonely voice of reason in a world that rewards groupthink and disregards the adage about past performance having no bearing on future results. When McCullough finds himself shown the door, the story takes a fascinating turn into the world of independent research and no-holds-barred criticism.
Page by page, this fast-paced ride through the world of hedge funds reveals the unvarnished truth of how Wall Street and hedge funds really operate and offers real-world investment lessons you can take away and put to good use.
Written with the authority of someone who knows how Wall Street and hedge funds work, yet accessible to even a casual follower of finance, Diary of a Hedge Fund Manager mixes a constructive critique of the investment industry with fundamental lessons that any investor will find valuable.
From the Back Cover
"An engaging and fascinating memoir of a Wall Street insider who foresaw the crisis and lost his job for it. McCullough has written an insightful firsthand account of our modern Rome before—and after—its fall. The author stands head and shoulders above his peers with his phenomenal trading track record, personal integrity, and skill at communicating his unique experiences."
—Richard L. Peterson, MD, Managing Director, MarketPsy Capital LLC; author, Inside the Investor's Brain
"If an unholy offspring of Lester Bangs and Don Cherry traded and wrote a financial market diary, it might be something like the smart, hip, and crunching commentary hedge fund manager Keith McCullough delivers every day. Keith is on a short list of must-reads in a business filled with also-rans."
—Dr. Paul Kedrosky, Editor, Infectious Greed; Managing Director, IG Holdings; Senior Fellow, Kauffman Foundation
"Diary of a Hedge Fund Manager should be added to the list of must-read books on Wall Street. It is very rare that readers get this kind of insight into the world of what Wall Street calls the "smart money". McCullough's exciting and inspirational story reinforces the fact that hard work pays off. The book does a great job of pointing out that, on Wall Street, common sense and hard work trump a PhD—without actually saying it. His honesty is refreshing and reminds us all that the giants of the hedge fund world are mere mortals. This story is one that both Wall Street and Main Street can relate to and learn from."
—Douglas M. Famigletti, CFA, Managing Director, Griffin Asset Management, Inc.
"Like Liar's Poker and Fiasco before it, Diary of a Hedge Fund Manager offers a fascinating, funny, and frightening account of life on the Street. An indispensable account of how the financial-industrial complex destroyed so much of the 'value' it purported to create."
—Dan Burrows, Senior Writer, DailyFinance
"The hedge fund world is notoriously secretive. But in Diary of a Hedge Fund Manager, Keith McCullough reveals what's behind the curtain to show an industry that frequently is little more than a lot of smoke and mirrors, much the same way that Toto revealed the Great and Mighty Wizard of Oz to be nothing more than an ordinary man."
—Michelle Leder, founder and Editor, footnoted.org; author, Financial Fine Print