Table of Contents

Foreword: The Less Mysterious World of Hedge Funds by Mohamed A. El-Erian, CEO and Co-CIO of PIMCO ix Preface xv Disclaimer xxiii Chapter 1: The Global Macro Maven: Ray Dalio, Bridgewater Associates 1 Chapter 2: Man versus Machine: Pierre Lagrange and Tim Wong, Man Group/AHL 25 Chapter 3: The Risk Arbitrageur: John Paulson, Paulson & Co. 39 Chapter 4: Distressed Debt s Value Seekers: Marc Lasry and Sonia Gardner, Avenue Capital Group 75 Chapter 5: The Fearless First Mover: David Tepper, Appaloosa Management 93 Chapter 6: The Activist Answer: William A. Ackman, Pershing Square Capital Management 115 Chapter 7: The Poison Pen: Daniel Loeb, Third Point 155 Chapter 8: The Cynical Sleuth: James Chanos, Kynikos Associates LP 173 Chapter 9: The Derivatives Pioneer: Boaz Weinstein, Saba Capital Management 193 Afterword: Myron S. Scholes, 1997 Nobel Laureate in Economics and Co-Author of the Black-Scholes Option Pricing Model 203 Appendix 211 References 225 Acknowledgments 237 About the Author 240 Index 241

About the Author

Maneet Ahuja is CNBC's hedge fund specialist and a producer on Squawk Box. In 2011, she co-created and developed the network's "Delivering Alpha" hedge fund summit in conjunction with Institutional Investor and was awarded CNBC's prestigious Enterprise Award in 2009 for her groundbreaking coverage of the industry. She has covered the World Economic Forum in Davos, Switzerland, and produces quarterly shows at the Department of Labor with former Federal Reserve Board chairman Alan Greenspan as well as U.S. Competitiveness Summits at Harvard Business School. Prior to joining CNBC in 2008, she was a part of the Wall Street Journal's Money & Investing team. She began her career on Wall Street in 2002 at age 17 in Citigroup's Corporate & Investment Banking division as a credit risk analyst. Maneet is one of Forbes magazine's 30 Under 30 (Jan. 2012), has been featured in Elle magazine's annual Genius issue (April 2011), and in 2010 was nominated for Crain's New York Business Forty Under 40 Rising Stars. Follow Maneet on twitter @WallStManeet and visit her book's websites at www.thealphamasters.com and www.alphamasters.cnbc.com.

Reviews

this is a well written book about some of the more colourful figures in the world of high-stakes investing. Anyone looking for a decent holiday read could do a lot worse (Money Week, June 2012) 'There is not a dull moment, and one may even come out a much wiser investor by the end of the book. (eVestment|HFN, June 2012) Using savvy and psychological understanding she fully grasps the nature behind the secretive trade, and gives the reader guidance to replicate success. (European CEO, 1st August 2012)