Steven Drobny and the Big Saturday Interview: The Invisible Hands – Hedge Funds Off the Record

Click here to access this week’s Big Saturday Interview with Steven Drobny, author of The Invisible Hands: Top Hedge Fund Traders on Bubbles, Crashes, and Real Money.

For many, “real money” is a phrase associates with gold standards and libertarian politics. But for those who manage billions of dollars, real money refers to the staggering sums traded and invested every day on behalf of pension funds and endowments.

These are the funds whose model for investing became the dominant paradigm in the first decade of the 21st century. Through a combination of liquid and illiquid assets, what came to be known as the “endowment model” for managing real money seemed to provide everything a real money manager could ask for.

What happened to this model of investing during the downturn of 2008, and what lessons can be learned for those both managing the real money of the 21st century as well as those invested in pension funds who are relying on those individual’s success is at the core of Steven Drobny’s most recent book, The Invisible Hands.

Steven Drobny is the cofounder of a macroeconomic research and advisory from, Drobny Global Advisors (DGA). Educated at the London School of Economics, Drobny worked in the Hedge Fund Group for Deutsche Bank and in the Metals & Energy Trading Groups at AIG. His first book, Inside the House of Money, features interviews with hedge fund managers and traders and provides insights into strategy and theory for trading and investing in the global marketplace.

The Big Saturday Interview is now available as an audio file. To access the audio interview with Steven Drobny, author of The Invisible Hands, click here.

And click the title to the right to order your copy of The Invisible Hands: Top Hedge Fund Traders on Bubbles, Crashes, and Real Money.

David Penn is Editor in Chief of