A Very Bad Year: Confessions Of An Anonymous Hedge Fund Manager

Diary of a Very Bad Year: Confessions of an Anonymous Hedge Fund Manager

Name

Course:

Course Unit

Professors Name:

Date:

Diary of a very bad year is a book that is interesting for one to read. The author of the book goes by the name Keith Gessan. The book involves the direct mode of the interview that takes place between a New York City hedge fund manager and the stakeholders. The interview took place in the year around 2007 when there was a rapid unfolding of the financial crisis. The book thus involves some sorts of confessions that are arising from an unknown and Anonymous Hedge Fund Manager.1 The book describes various issues that did take place in the financial system. Keith Gessan is a novelist that was born in 1975. The novelist

Computers have been integrated in the finance field to help in the accomplishments of tasks in the banking and the finance fields. In fact, the explanation goes further and uses the analogy of black boxes. The advantage of this source of issue and information is that the computerized system makes work easier for the members who are working in the finance sector. It reduces the workload of individuals who are working in the sector. However, the black box system does not seem to be advantageous on the other side. The models are created by human beings, and thus there can be errors that are emerging. An example is given out by the Hedge Fund Manager, and he says that there have been massive losses that the big box has created over some last days. The losses have been harmful to the

When the Hedge Fund Manager is questioned regarding what a paradigm shift is, he points out that it is the relevant assumption that every individual has in finance. The Hedge Fund Manager points out that there has been the deficiency of the brainpower in the finance sector that results in the inability of a person to question an assumption or think about any particular investment.1 The manager says that, Okay, something that Moody’s rates triple A must be money good, so I’m going to worry about the other things I’m investing in but when it comes time to say, where am I going to put my cash? I’ll just leave it in triple-A commercial paper. I don’t have time to think about everything. The issue in finance can be addressed through the creation of awareness and relevant training so that the individuals can be able to have general knowledge to think and criticize sectors that they intend to invest in for financial gain. The general outcome will be that individuals will start making wiser decisions regarding investment opportunities and will evade losses while