The Alpha Masters: Unlocking the Genius of the World’s Top Hedge Funds

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The Alpha Masters
Unlocking the Genius of the World’s Top Hedge Funds
 

By Maneet Ahuja

Today I am reviewing The Alpha Masters: Unlocking the Genius of the World’s Top Hedge Funds. Read my other book reviews here.

Like greedy children we investors tend to cling to every nugget of news about top hedge fund managers, hoping to identify some glimmer of insight into their investment processes. It isn’t always easy, given the secrecy demanded of them by the securities regulators and their own natural desire to keep their secret sauce… well, secret.

So imagine my delight to find The Alpha Masters, a book by Maneet Ahuja, who managed (in some Faustian bargain perhaps) to extract in-depth interviews with eleven top hedge fund managers. Her interviews provide the desired coverage of the managers’ investments strategies, but also give insight into their management philosophies and brief biographies about how each arrived in his position. 

The result is quite a strong book. Ahuja did a good job of keeping the managers honest, avoiding platitudes in favour of concrete details that I haven’t read elsewhere. She also covers the managers’ biggest trades, both successful and otherwise and gets their personal views on what they learned from the experience. 

The managers covered are:

  • Ray Dalio, Bridgewater Associates
  • Pierre LaGrange and Tim Wong, Man Group / AHL
  • John Paulson, Paulson & Co.
  • Marc Lasry and Sonia Gardner, Avenue Capital Group
  • David Tepper, Appaloosa Management
  • Bill Ackman, Pershing Square Capital Management
  • Daniel Loeb, Third Point
  • James Chanos, Kynikos Associates
  • Boaz Weinstein, Saba Capital Management

Also, The Alpha Masters includes a forward by Mohamed El-Erian of PIMCO and an excellent afterword by Myron Scholes (Nobel Laureate and contributor to the Black-Scholes-Merton option pricing model). I really have no idea how Ahuja managed to get this level of access and support, but I am pretty much in awe.

Overall, a worthwhile read that I can safely recommend. 

If you’ve read The Alpha Masters, leave your thoughts below.

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Author Disclosure: This book was provided by the publisher for review.

Talk to Frank about this Book

 

  • Mohammed Al-Alwan

    i have read this book but i would recommend the hedge fund market wizard.HF mkt wizard has more wisdom and lessons and focus more on the investment process as compared with Alpha masters.