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Philip Coggan is a British columnist and author of books on economics. He currently writes for The Economist. Previously, he worked for the Financial Times for 20 years.
A very interesting book about the world of trading. For those (well this includes me) who think that people with a bunch of milions (like 5 or 10) dollars are rich people say hello to corporations that manage billions of dollars in assets. Well this is capitalism at the highest level. I must confess that I felt a little depressed when reading about this world. But, regardless the feelings you might have, this is a very educational book. The contents here presented offer you an oportunity to review your concept of money and how the big financial corporations work. This is, however, a very taxonomical work. You'll be injected with a plethora of concepts and financial instruments and respective variations. For this reason is to hope that you might feel the need for a second reading (as in my case, as my academic formation is not economics).
This is a great primer for anyone interested, or working in the periphery of, the hedge fund sector. The book provides a decent background to hedge funds, the existing strategies, typical fund structure and how hedge funds are changing.
It would be interesting to read Coggan’s thoughts after this year as the book seems to be have been written in the post 2008 period.
Anything Coggan writes is worth reading; he's one of the best financial journalists in the world. (I still rue his departure from the FT.) If you're new to hedge funds, this is a lucid, balanced overview. If you work in the industry, you may glean a fact or two (though not more), but will certainly appreciate his uncanny intimations of the hedge fund cataclysm of 2008.