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.
"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
Like his delivery or not, Keith speaks a lot of truth. This book clears a lot of my hunches about him, his upbringing, and his experience. Read morePublished 5 months ago by Imsaul0968
A breath of fresh air and a great look into the hedge fund marketPublished 5 months ago by John Stucky
This was a good read on hedge funds and how they can function. A little too much name dropping for me. Read morePublished 21 months ago by Kevin Osborn
If you are looking for a book about specifics on investing/trading then you are wasting your time. This book is extremely well written from the perspective of the author and it... Read morePublished on March 20, 2013 by Jimenezja
great look inside workings and thoughts of the hedge fund world. keith brings a refreshing personality as well as worthwhile education to the independent investorPublished on March 12, 2013 by david bertone
Good book. Definitely would recommend it to anyone getting into hedge fund game or institutional sales. Get an insider's perspective. Good story teller.Published on April 27, 2012 by cavan
This must be the 4th or 5th book I read that is described as a diary from an investor/speculator/hedge fund guy/ ... This was unfortunately also the most disappointing one. Read morePublished on September 5, 2011 by Straddle1985
It is one of good read .Investor should not miss to read this book .It is important to learn how the hedge fund work because they are dominant players in the financial world. Read morePublished on July 3, 2011 by king888
An interesting account of the hedge fund boom and the recent financial downturn from the perspective of a hedge fund manager. It's a pretty quick read.Published on April 28, 2011 by Pie Man