Book - Inside the House of Money by Steven Drobny
The New House of Money
by Steven Drobny

What do the world's best macro investors think?

The New House of Money offers fresh dialogue with elite investors who diagnose the prevailing market environment and offer unique perspectives about the world. Presented as serialized digital downloads released periodically, The New House of Money is an innovative look at the thought processes of premier global macro traders in action. Through detailed interviews with members of his extensive network, Steven Drobny shares with the world some in-depth investment insights that have become the hallmark of Drobny Capital.

We are pleased to present The New House of Money free to investors, traders, speculators, policymakers, academics, or merely curious others who would like to dive into this formerly secret world of private money management.

 

 

Introduction
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Chapter 1
Kyle Bass

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Book - Inside the House of Money by Steven Drobny
Inside the House of Money
Top Hedge Fund Traders on Profiting in the Global Markets
by Steven Drobny
Foreword by Niall Ferguson

John Wiley & Sons, Inc., 2006
What is global macro?

  • History and theory of global macro
  • Interviews with top global macro hedge fund managers
  • Variety of sub-strategies and styles, spanning global fixed income, currency, equity, and commodity markets
  • Key themes:
    • Investment process begins with risk management
    • Liquidity is paramount
    • Keen attention to flexibility, breadth across markets, instruments, geographies
Book - The Invisible Hands by Steven Drobny
The Invisible Hands
Top Hedge Fund Traders on Bubbles, Crashes, and Real Money
by Steven Drobny
Foreword by Jared Diamond and Nouriel Roubini

John Wiley & Sons, Inc., 2010
How all investors can and should incorporate global macro principles into their investment process

  • Risk management begins and drives the investment process – maximum loss versus return target
  • Understanding true risk-adjusted returns
  • Effective tail risk and other portfolio insurance approaches
  • The value of liquidity
  • The true price of cash (i.e., opportunity benefits from having cash during market dislocations)