The empowering story of Larry Hite’s unlikely rise to the top of the hedge fund world-with critical insights and lessons you can take to the bank
In The Rule, legendary trader and hedge fund pioneer Larry Hite recounts his working-class upbringing in Brooklyn as a dyslexic, partially blind kid who was anything but a model student-and how he went on to found and run Mint Investment Management Company, one of the most profitable and largest quantitative hedge funds in the world.
Hite’s wild success is based on his deep understanding that markets are flawed-just like people. Through his early-life struggles and failures, Hite came to know himself well-his fears, his frustrations, his self-doubt, and his tolerance for all of the above. This motivational book reveals that by accepting the facts of his life and of himself, he was able to accept markets as they are. And that was the key to his success.
In these pages, you’ll walk of the footsteps of an investing legend, who imparts smart, practical trading lessons throughout the journey. Making a successful living in trading isn’t about beating the markets. It’s about meeting markets where they are, embracing the fact of risk, knowing yourself, and playing it strictly by the numbers.
The Rule shows that investing decisions are not only bets or gambles, but investments in time, energy, and attention. By focusing on realistic returns on your investments-versus what you expect or hope to get-you immediately improve your probability for success.
The Rule: How I Beat the Odds in the Markets and in Life—and How You Can Too by Larry Hite
English | September 27th, 2019 | ISBN: 1260452654
现年78岁的海特Larry Hite是一位成功的避险基金经理人，他不相信任何人能预测股市下一步会怎么走，也不认为“买进长抱”是最佳投资策略。他笃信“顺势交易”trend following策略，并严守一个简单的规则，如今身价净值约1亿美元。
这个简单的规则就是：早早停损（cut losses early）海特说：“ 如果股价跌到我设的2%停损门槛，我就会卖出。我总是衡量风险，并迅速行动。如果股价下跌，我就出场保住资本，等待下一个机会。”
海特创办的Mint Investment Management，是第一家资产总额达到10亿美元的避险基金公司。在他操盘下，这家公司1981年至1988年平均年复合报酬率达30%，纪录。海特如今经营家族财富公司Hite Capital。为什么还不退休？他说：“我爱赚钱。”
海特最新出版新书 The Rule： How I Beat the Odds in the Markets and in Life — and How You Can Too。