The hedger emerged from the fog... On profit, risk, and discipline

In your hands is an honest look at the world of hedge funds from the inside. The author shows how investment strategies are born and collapse, how the crowd makes mistakes at key moments, and how even the strongest fund managers experience failures. Through stories, observations, and paradoxes, the main principles of the 'hedgehogs' (as the author calls hedgers) are revealed - focus, discipline, and the willingness to go against everyone for capital. Barton Biggs is a legendary investor, former strategist at Morgan Stanley, and founder of the hedge fund Traxis Partners. His experience spans decades of work in global markets. Through stories of rises, falls, and aggressive trading, the author reveals the main aspects of understanding the market that will help you increase your capital. You will learn: - how the Prince of Darkness kept the best businesses in fear; - when it is useful to be a complete pig on the stock exchange; - how a mathematical formula of perfect beauty can help you.