Running Money

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A brilliant investor, a born raconteur and an overall smart-ass, Andy Kessler pulls back the curtain on the world of hedge funds and shows how the guys who run big money think, talk and act.

Following on the success of Wall Street Meat, his self-published book on the lives of Wall Street stock analysts, Andy Kessler recounts his years as an extraordinarily successful hedge fund manager. To run a successful hedge fund you must have an investing edge — that special insight that allows you to reap greater returns for your clients and yourself.

A quick study, Kessler gets an education in investing from some fascinating and quirky personalities. Eventually he works out his own insight into the world economy, a powerful lens that reveals to him hidden value in seemingly negative trends. Focussing on margin surplus, Kessler comes to see that current American economy, at the apex of the information revolution, is not so different from the British economy at the height of the industrial revolution. Drawing out the parallels he develops a powerful investing tool which he shares with readers. Contrarian and confident, Kessler made a fortune applying his ideas to his hedge fund. Which only proves that they may not be as crazy as they sound.

“Not just a macho rehash of the glory days, his lessons prove that a little skepticism goes a long way.” “[One of ] the best books you’ll find on technology, opportunity and entrepreneurship [to] hit bookstores.” “Right place, right time, right questions. That’s the formula in this smart – and smart-ass – take on investing.” “Andy Kessler’s entertaining memoir will become required reading in the financial community.” “One can just hear Wall Street denizens asking each other if they have read Running Money yet.” “One of the best books of 2004”

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