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Hedge Hogs: The Cowboy Traders Behind Wall Street's Largest Hedge Fund Disaster by [Dreyfuss, Barbara T.]
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Hedge Hogs: The Cowboy Traders Behind Wall Street's Largest Hedge Fund Disaster Kindle Edition

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Length: 320 pages Word Wise: Enabled Enhanced Typesetting: Enabled
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Editorial Reviews

From Booklist

Hedge funds, once an obscure investment vehicle confined to the ultrarich with a penchant for risk, have ballooned to a $2 trillion industry in recent years, as ordinary pension and retirement money have been poured into these unregulated funds. One of these funds, Amaranth Advisors, managed $9 billion in assets until its collapse in September 2006 owing to oversize holdings in ­natural-gas futures executed by a brash young ­Canadian trader named Brian Hunter. Wall Street analyst Dreyfuss details how Hunter’s manipulation of the natural-gas market not only lost billions of dollars for Amaranth investors but also caused speculative price spikes that took a heavy toll on consumers and business owners. Her work shines light on the little-known sector of unregulated energy trading in the wake of Enron, where reckless traders continue to take enormous risks with investors’ money and wreak havoc in energy-commodities markets, which are essential to the lives and livelihoods of ordinary Americans. --David Siegfried

Review

“Regulators, legislators and judges inclined to sympathize with the industry ought to rush out and buy a copy of Barbara Dreyfuss’s Hedge Hogs, a wonderfully instructive tale about Amaranth Advisors. . . . Dreyfuss, a Wall Street analyst turned investigative journalist, not only plowed through what turned out to be a treasure trove of official records and transcripts, but supplemented it with plenty of her own reporting. She manages to organize it all into a tight, riveting and understandable yarn.”The Washington Post
 
“If you are an avid follower of Wall Street, you’ll read [Hedge Hogs] in one sitting. . . . Dreyfuss is able to strategically select the essential elements that make for an accurate and fast-paced read laced with illuminating Wall Street lore while sparing the lay reader useless financial jargon. This riveting book gives us much to think about.”—Wall Street on Parade

“Clearly and entertainingly told . . . a salutary example of how traders who believe they are super-smart might be nothing more than lucky, and how there is nothing so intoxicating as the ability to speculate with other people’s money.”The Economist

“[Barbara T. Dreyfuss] does a great job of putting Amaranth’s out-of-control trader into historical context, explaining the blitz of deregulation that set the stage for someone like [Brian] Hunter to do maximum damage.”—Bloomberg

“A telling insider’s story on how hedge funds are playing high-stakes poker for massive personal profits and stealing the American Dream from average families . . . This is a case study that cries out for tougher crackdowns on the derivatives game.”—Hedrick Smith, author of Who Stole the American Dream?
 
“Brian Hunter, dubbed one of the top rogue traders of all time by The Wall Street Journal, is the only one on the list not to have gone to prison for his crimes. In Hedge Hogs, Barbara Dreyfuss reveals in forensic detail how Hunter carried out a speculative assault on the highly vulnerable U.S. energy market. Hedge Hogs is a great read for those interested in an introduction to the games often played by energy traders, as well as Wall Street veterans who think they know everything there is to know on this subject.”—Leah McGrath Goodman, author of The Asylum: Inside the Rise and Ruin of the Global Oil Market
 
Hedge Hogs is not merely the definitive take on the largest hedge fund collapse in history—it is a window into how the financial system came unstuck. Barbara Dreyfuss gets all the details right. This is Enron II, the sequel in which a thirty-year-old farm-boy from Calgary makes $113 million one year and then destroys his firm—and yet he isn’t even the highest-paid or most intriguing character his age. Once you start reading this book, you will not be able to put it down.”—Frank Partnoy, author of F.I.A.S.C.O. and Infectious Greed
 
“Dreyfuss smartly deploys her inside knowledge. . . . [Her] lucid, perceptive tour of the high-wire culture of hedge funds highlights how vapid Wall Street’s pretense of market expertise and risk analysis really is.”—Publishers Weekly

“A well-crafted investigation.”Kirkus Reviews
 
“[Dreyfuss’s] work shines light on the little-known sector of unregulated energy trading in the wake of Enron.”Booklist

Named One of the Top 10 Business & Economics Books of the Season by Publishers Weekly

Product details

  • File Size: 3094 KB
  • Print Length: 320 pages
  • Publisher: Random House (May 21, 2013)
  • Publication Date: May 21, 2013
  • Sold by: Random House LLC
  • Language: English
  • ASIN: B00AP2XVJ0
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Lending: Not Enabled
  • Screen Reader: Supported
  • Enhanced Typesetting: Enabled
  • Amazon Best Sellers Rank: #446,236 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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