From the Inside Flap
Diary of a Hedge Fund Manager
is an insider's view of thehigh-stakes money management world. In a distinctly straightforwardand, at times, humorous style, Keith McCullough and Rich Blake takeyou on the journey of a young and successful hedge fund manager andformer junior hockey player from Thunder Bay, Ontario, as he getsrecruited to the Ivy League, stumbles onto the nexus of the hedgefund universe, and then gets a crack at running his ownpile—becoming one of the best young portfolio managers on theStreet.
But when the young portfolio manager finds himself working forone of the world's most prestigious firms—helping to runtheir hedge fund operation just as the market is starting to crackin 2007—McCullough becomes a lonely voice of reason in aworld that rewards groupthink and disregards the adage about pastperformance having no bearing on future results. When McCulloughfinds himself shown the door, the story takes a fascinating turninto the world of independent research and no-holds-barredcriticism.
Page by page, this fast-paced ride through the world of hedgefunds reveals the unvarnished truth of how Wall Street and hedgefunds really operate and offers real-world investment lessons youcan take away and put to good use.
Written with the authority of someone who knows how Wall Streetand hedge funds work, yet accessible to even a casual follower offinance, Diary of a Hedge Fund Manager mixes a constructivecritique of the investment industry with fundamental lessons thatany investor will find valuable.
From the Back Cover
"An engaging and fascinating memoir of a Wall Street insider whoforesaw the crisis and lost his job for it. McCullough has writtenan insightful firsthand account of our modern Rome before—andafter—its fall. The author stands head and shoulders abovehis peers with his phenomenal trading track record, personalintegrity, and skill at communicating his uniqueexperiences."
—Richard L. Peterson, MD, Managing Director, MarketPsyCapital LLC; author, Inside the Investor's Brain
"If an unholy offspring of Lester Bangs and Don Cherry tradedand wrote a financial market diary, it might be something like thesmart, hip, and crunching commentary hedge fund manager KeithMcCullough delivers every day. Keith is on a short list ofmust-reads in a business filled with also-rans."
—Dr. Paul Kedrosky, Editor, Infectious Greed; ManagingDirector, IG Holdings; Senior Fellow, Kauffman Foundation
"Diary of a Hedge Fund Manager should be added to thelist of must-read books on Wall Street. It is very rare thatreaders get this kind of insight into the world of what Wall Streetcalls the "smart money". McCullough's exciting and inspirationalstory reinforces the fact that hard work pays off. The book does agreat job of pointing out that, on Wall Street, common sense andhard work trump a PhD—without actually saying it. His honestyis refreshing and reminds us all that the giants of the hedge fundworld are mere mortals. This story is one that both Wall Street andMain Street can relate to and learn from."
—Douglas M. Famigletti, CFA, Managing Director, Griffin AssetManagement, Inc.
"Like Liar's Poker and Fiasco before it, Diaryof a Hedge Fund Manager offers a fascinating, funny, andfrightening account of life on the Street. An indispensable accountof 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 Diaryof a Hedge Fund Manager, Keith McCullough reveals what's behindthe curtain to show an industry that frequently is little more thana lot of smoke and mirrors, much the same way that Toto revealedthe Great and Mighty Wizard of Oz to be nothing more than anordinary man."
—Michelle Leder, founder and Editor, footnoted.org; author,Financial Fine Print