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Alternative Market Briefing

Steve Drobny's new book makes case for risk-focused portfolio construction

Tuesday, May 04, 2010

From Kirsten Bischoff, Opalesque New York: 

"People who have survived the global financial crisis - those who didn't lose money, or those who made money - really focused on risk, and took a downside risk management approach rather than focusing on how much money they wanted to make," says Steve Drobny, who's newest book "The Invisible Hands: Hedge Funds Off the Record - Rethinking Real Money" recently hit the shelves. 

In 2010, with the world economy still on shaky ground, and governments still unsure if efforts to stabilize financial markets are really working or just temporary patches trying to shore up a systemic problem of epic proportions, much of the focus on finance is that of the ever popular blame game.  Many things went wrong, and a litany of books, articles, and episodes by talking heads have been poring over the events of the past, but Drobny points out in his preface, "the world has not ended and investors must now adapt and adjust to the new reality." 

The Invisible Hands focuses on what went right for those investors who at a minimum protected assets, and in many cases posted positive performance during the crisis of 2008.  Interviewing a number of successful money managers (including Andres Drobny, Jim Leitner and 10 anonymous hedge fund managers), he explores global macro portfolio management across its var......................

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