Who read it, what you guys think?
While the last chapter was morbid, not exactly unexpected. aka You can do what you did in the 80s at the birth of an industry today. Same could be said about almost any type of trading. Electronification, globalization, and financialization has made markets more transparent.
all in all, I enjoyed the book, but it did not bring to light anything 'new' that you couldn't get an idea about from reading King of Oil.
I am disappointed they did not talk about Gas and Power (bias), but there is a lot of meat there with Enron, Amaranth, and how all the big commodity houses have been expanding their G&P teams in London and NA.
Have not read it but given your username if you’re interested in Amaranth and gas trading then Hedge Hogs is a terrific book
read it, trader threw it to me my first year as an intern
I think that's pretty much how I feel about it as well. I had preordered this book a while back and was really disappointed that such a large portion of it was essentially spent just rehashing the King of Oil. Granted, it'd be impossible to discuss modern physical trading without discussing Marc Rich, but I was hoping for a far greater amount of effectively new information that hadn't been thoroughly examined elsewhere.
In regard to Gas, I was genuinely surprised to see John Arnold's name completely omitted from the book. He was clearly one of the most prolific energy traders of all time, let alone in the post-Rich era, and definitely warranted at least some attention.
That's where this good Bloomberg article is quoting
https://www.bloomberg.com/news/features/2021-03-30/big-oil-s-secret-wor…
Agreed Enron and power/gas generally is a glaring omission, especially considering the long-term direction of the industry. Would be nice to see more on the paper/HF side too.
Starting a job on a physical trading desk next month. Going to be a scheduler but hoping to get a trading seat in 2-3 years if I perform well. I thought world for sale gave a great overview considering I’m coming in with limited knowledge. Any other books you guys would recommend?
Oil or Gas?
Natural Gas Trading by Fletcher J. Strum (haven't read the second edition only the 1st awhile ago) & Natural Gas Trading in North America by Richard Lassander and Glen Swindle are good basic primers for natty.
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