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Book Review: Inside the House of Money

Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets is written by Steven Drobny (foreword by Niall Ferguson). Steven is the founder and CEO of Drobny Global Asset Managment, an independent investment advisory, asset management and consulting firm. He is also the author of The Invisable Hands: Top Hedge Fund Traders on Bubbles, Crashes and Real Money.

Inside the House of Money was first published in 2006. There has since been revised and updated editions, these are worth purchasing rather than the original as they provide extra insights and new content.



Below is my review of Inside the House of Money...

It's Similar to Market Wizard's

The trading book consists of a number of interviews with some of the best performing hedge fund traders. These traders answer a series of questions, most of which are very insightful. The book has an almost identical style to the best-selling trading publication Market Wizards: Interviews: Interviews with Top Traders, though there is very little competition between Inside the House of Money and Jack D. Schwager's classic. This does not mean that there is not a lot to learn from this trading publication, many useful insights are shared and some of the interviewees include Jim Rodgers (Commodities trading genius), Jim Leitner ($2 billion profit trader), Yra Harris (futures trading veteran) and Scott Bessent (Chief Investment Office for Soros Fund Management).

It is more "Trader-Sophisticated" than Market Wizard's

Something that I do prefer in this publication over Market Wizards is that there are a lot more charts and analysis to back-up interviewees answers. This is probably due to the fact that Steven Drobny is also a well-rehearsed trader and enjoys studying and presenting charts.

It's Endorsed by some Big Names

There are plenty of testimonials and positive reviews of Inside the House of Money, this is always a good thing. These reviews and testimonials include The New York Times, The Financial Times, Forbes, Bill Gross and Nassim Nicholas Taleb.

It's Inspiring

The publication is very inspiring. If you need a bit of extra trading motivation, this book will not disappoint.

Summary

Inside the House of Money is well worth the read. I love the trading insights provided by the interviewed traders. The style is very similar to Market Wizards but is no way a rival to Market Wizards. I would recommend this book to a more seasoned trader, Market Wizards could be read by a novice and still be a fascinating read. The book will not make my most recommended list but that does not mean that it should not be part of your trading book library, I suggest you buy it and have a read.

If you would like to purchase this book, please use this link if you are in the UK or this link if you are in the US.

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