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Garth Friesen

Bite the Ass Off a Bear: Getting In and Standing Out On a Hedge Fund Trading Floor Paperback – May 25, 2017

by Garth Friesen (Author)

46 ratings

Contrary to Hollywood mythologizing, there are no wolves on Wall Street. Ruthless, greedy, and power-hungry individualists actually make terrible hedge-fund traders. If you’re going to succeed in this business, you need to understand not only how America’s financial markets work, but how being a team player makes you the most valuable asset to your company and clients. In Bite the Ass Off a Bear, investment professional Garth Friesen reveals how hedge-fund traders thrive by developing the interpersonal skills necessary to act and react in a high-stakes field with integrity, reliability, and stress control. For aspiring and experienced traders, having a strong work ethic, persistent attitude, and likeable personality are just as essential as mathematical and computer acumen and will take your career further than fabled lone-wolf tactics. With indispensable information from a Wall Street insider, this book will prepare you for a challenging industry that’s as full of risks as it is of rewards. Garth Friesen, a principal since 1998 at a well-known hedge-fund manager at III Capital Management, has served in multiple capacities at the firm, including Co-Chief Investment Officer. Garth has specific investment expertise in numerous markets, including fixed income, equities, and credit and interest-rate derivatives. He has been featured in various media, including CNBC, Bloomberg, and The Wall Street Journal, among others. He served as a member for five years on the esteemed New York Fed's Investor Advisory Committee on Financial Markets. Prior to joining III Capital Management, he was an interest-rate swaps market-maker for two Wall Street banks.

Print length

268 pages
Language

English
Publication date

May 25, 2017
Dimensions

5.5 x 0.61 x 8.5 inches
ISBN-10

1619616653
ISBN-13

978-1619616653
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Editorial Reviews

From the Back Cover

About the Author

Garth Friesen, a principal since 1998 at a well-known hedge-fund manager, III Capital Management, has served in multiple capacities at the firm, including Co-Chief Investment Officer. Garth has specific investment expertise in numerous markets, including fixed income, equities, and credit and interest-rate derivatives. He has been featured in various media, including CNBC, Bloomberg, and The Wall Street Journal, among others. He served as a member for five years on the esteemed New York Fed's Investor Advisory Committee on Financial Markets. Prior to joining III Capital Management, he was an interest-rate swaps market-maker for two Wall Street banks.

Product details

Publisher : Lioncrest Publishing (May 25, 2017)
Language : English
Paperback : 268 pages
ISBN-10 : 1619616653
ISBN-13 : 978-1619616653
Item Weight : 11 ounces
Dimensions : 5.5 x 0.61 x 8.5 inches

Best Sellers Rank: #1,100,325 in Books (See Top 100 in Books)
- #4,981 in Job Hunting & Career Guides

Customer Reviews:
46 ratings

Customer reviews

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Top reviews from the United States

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Jeff Kostick

Surprisingly Great: Fun, Engaging, Helpful and Enlightening

Reviewed in the United States on June 14, 2017

Verified Purchase

As a marketing professional, part of my job is knowing/understanding the industries of my clients so I can offer superior advice and better relate to their world. As such, I am constantly reading books so I can best help my clients. On the advice of a friend, I read Bite the Ass Off a Bear.

It was surprisingly great.

Most of the industry-specific books I read are informative, but fairly boring. BTAOAB was informative AND entertaining. It struck a fantastic balance that made it fun and engaging, while also being exceptionally helpful and enlightening.

It really is a "how to" for anyone looking to get started as a trader, or (in my case) insight for someone who works with traders.

If you are interested in becoming a trader, or if you work with traders, BUY THIS BOOK.

3 people found this helpful

Helpful

Going to Wall Street? Read this book.

Reviewed in the United States on July 1, 2019

Verified Purchase

The author Garth is actually the chief at a multi-billion dollar hedge fund. If you are in college and looking to go to WS, buyside or sellside, then you will get value from this book. A lot of it is stuff that you should know already but it will also shine the light on several things you probably don't know. If you are not at Harvard, your neighbor is not a billionaire, and your uncle is not a MD at Goldman than you need all the help you can get...so read this book.

One person found this helpful

Helpful

Ken

Simple, Real, Useful Advice to Break-in and Stay There. A Must Read.

Reviewed in the United States on June 13, 2017

Verified Purchase

Absolute page-turner. As a rising senior in college, IB analyst, and hedge fund hopeful I have read dozens of books, hundreds of online articles, and spoken to a solid 200+ people in industry. BTAOAB is the most comprehensive road map I've come across -- it could have saved me a significant amount of time and effort. It is not a sensationalized account of Wall Street adventures, or a deep dive into technicals, but rather a layperson's guide for what it takes to break-in and be successful in trading. If you are looking to do that, this should be your first stop. Expect to walk away with a 30,000ft understanding of the industry, the job, what it takes, and more-- not to mention suggested deeper reading/learning materials for you to sink your teeth into if you so dare.

4 people found this helpful

Helpful

Randy F

Summarizing career lessons in an easy-to-read book.

Reviewed in the United States on June 26, 2017

Verified Purchase

Great primer on today's trader and hedge fund culture. Takes you from choosing a college to resume enhancement to Shakespearean advice, to working well with others in a high stress trading environment. Though other books are written on similar subjects, this book explains complex ideas easily, and is clearly guided to help the reader, rather than self-aggrandizement. The advice is straightforward and yet stands out, balancing general advice with detailing some of the minefields that have derailed so many in this arena. Along the way, we learn a lot about the author. Rarely do we see humility in such a book, but it's a recurring theme that's interwoven in the story as an ingredient of the author's personal success. The book explains without condenscension basic functions and strategies, not always apparent to the novice, without boring those already familiar with the concepts.

Helpful

Joe NYC

Outstanding, Credible Career Advice to Succeed in any Industry Wall Street, Investment Banking, Trading, Investing, Hedge Funds

Reviewed in the United States on June 22, 2017

Verified Purchase

This is the first book I have read that provides a holistic how-to-guide to having a successful career in hedge funds, finance, wall street, etc. The author is particularly credible, having made $102 million in one day of trading, serving as Co-CIO of one of the largest and longest operating hedge funds in the world managing money for some of the most sophisticated institutional investors, advising the Federal Reserve and working as a trader at 2 Wall Street Banks. The book is funny, entertaining and informative with real and practical advice and a number of great war/trading stories. If Wolf of Wall Street was a guide as to what not to do - this book could be titled "Smart, Rich Sheep of Wall Street" and is a guide as to what to do to get ahead. Rarely does a hedge fund manager write a book solely to provide career advice for new entrants to the industry and reading this book is like listening to a mentor telling you how to avoid career pitfalls and giving you the inside track as to how to get ahead.

Helpful

C.Burlingame

” He shows great appreciation for the impact of psychological influences on trading ...

Reviewed in the United States on June 23, 2017

Verified Purchase

Enjoyable stories from trading desks as well as insight on what it takes for longevity in the trading profession.

The author details important, and often overlooked, soft skills such as control of emotions and willingness to learn from mistakes. He also jumps into practical applications, including stop-loss triggers and operating with lower levels of confidence. For example, “Placing a stop-loss too far from the entry point, skew(s) the upside versus downside of a trade.”

He shows great appreciation for the impact of psychological influences on trading and investing, with thorough discussion of behavioral biases like risk aversion and overconfidence. Rather than simply list such attributes, he demonstrates personal application:

“When I first started, I viewed the game as me against the market. Now, I consider the game as me against other people. Identifying the consensus view and how other participants are positioned in various trades has become one of my most important (potential trade) evaluation criteria.”

Overall, I enjoyed the book as an educational tool and confirmation that “moving from the theoretical academic world to the practical world of finance is hard.”

“The long hours, pressure to continually perform, and the stress of losing substantial amounts of money make trading an extremely demanding occupation.”

Some folks cannot handle the constant feedback. Compare this to most industries where performance reviews happen on an annual basis.”

Trading by way of quantitative algorithms gets so much press these days. This book is a refreshing look at the creative and dynamic human trader, continuing to thrive despite the computer advances in artificial intelligence and deep learning.

One person found this helpful

Helpful

Top reviews from other countries

Thealycat

One Star

Reviewed in Canada on September 22, 2017

Verified Purchase

Really no value in reading this book

Mathieu A. St-Jean

Five Stars

Reviewed in Canada on July 18, 2017

Verified Purchase

Great mentoring book! Kudos.

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