Invest Like a Fox ... Not Like a Hedgehog
How You Can Earn Higher Returns With Less Risk
Chapter One
FOXES VS. HEDGEHOGS
Tiger Woods is a fox. So are Billy Beane and Steven Cohen.
Warren Buffett is mostly a fox, but he has a bit of hedgehog
in him.
The investment strategists behind the hedge fund Long-Term
Capital Management were full-blooded hedgehogs.
Woods is the best golfer of his generation, and many argue he
could end his career as the best golfer ever. Beane is the general
manager of the Oakland A's Major League Baseball team. Cohen
runs the hedge fund firm SAC Capital Advisors. Buffett is considered
one of the most successful investors ever and runs Berkshire
Hathaway Inc. (which, among other interests, holds GEICO, the
insurance company with the little green gecko).
Long-Term Capital Management was a hedge fund that initially
earned investment returns that made others envious but ended in
a spectacular, headline-grabbing failure that many speculate could
have led to a global financial meltdown were it not for the intervent ... read full excerpt from Invest Like a Fox... Not Like a Hedgehog: How You Can Earn Higher Returns With Less Risk ebook
