Diary of a Very Bad Year

“n+1 magazine has an incredible interview with an anonymous hedge fund manager. The HFM discusses everything from our weak currency to the lazy bond rating agencies who are, in their own way, complicit in the subprime meltdown.” - Consumerist.com“A remarkably candid interview with a hedge fund manager who had an insider’s view of the mortgage-backed-securitization machine, which is now imploding before our eyes. I think he touches on very important points that give a glimpse of how such a massive mis-allocation of capital and mis-understanding of risk took place.” - Gold Standard (a gold trading website/forum)“n+1 is the rightful heir to Partisan Review and the New York Review of Books. It is rigorous, curious, and provocative. Intelligent thought is not dead in New York. It has simply moved to Brooklyn.” - Malcolm Gladwell“Eminently readable… . Always engaging… . Although it is not fiction, Diary of a Very Bad Year is, in its own way, an attempt to bridge the gulf between the literary and financial worlds.” - Financial Times“My favorite book written about the financial crisis… . Highly recommended.” - Ezra Klein, The Washington Post“A short, illuminating set of interviews with one savvy, articulate Wall Streeter… . A penetrating, educational and at times harrowing play-by-play.” - Time magazine“n+1 (in the person of Keith Gessen) lends an outsider’s ear to the brilliant disquisitions of a guy caught in the middle of it all… . Excellent reading… . Compelling.” - The Millions“A great read… . HFM offers a brilliant financial professional’s view of the economic situation in real time, from September 2007, when problems in financial markets began to surface, until late summer 2009.” - Booklist“HFM does a good job of teaching the reader how mortgage-backed paper, money-market funds, and credit-default swaps work, while offering up juicier tidbits about the ethics and legalities of his sector.” - Time Out New York“A highly readable refresher on the financial crisis… . Amazingly–and largely because of the anonymity he’s granted–the nameless hedgie gives straight answers… . While HFM comes off as a bro you don’t want to mess with, the book is packed with plenty of humor.” - The Wall Street Journal“Diary of a Very Bad Year takes the first steps toward putting a human face on the funds.” - Newsweek“Thoughtful, funny and unpretentious… . An unexpected treat that belongs on the shelf once labeled belles-lettres… . It is plenty enjoyable to watch HFM’s mind unfurl.” - Dwight Garner, The New York Times“Diary of a Very Bad Year is a rarity: a book on modern finance that’s both extraordinarily thoughtful and enormously entertaining.” - James Surowiecki, author of The Wisdom of Crowds“A wonderful book. Diary of a Very Bad Year is a fascinating commentary on the crisis and a great read.” - David Backus, Professor of Economics and Finance, NYU’s Stern School of Business“Diary of a Very Bad Year does something few of the books written about the crisis have accomplished: It delivers an insider perspective on the events in real time, rather than dwelling on conclusions reached after the fact.” - BusinessWeek

n+1 is a twice-yearly print journal of politics, literature, and culture. Founded in 2004, it has been praised by the New York Times, TLS, Boston Globe, and Le Revue Des Deux Mondes, and reviled by the New Criterion and Gawker. In 2006 it won the Utne Independent Press Award for Best Writing. An anthology of its most significant essays was published in 2008 by Suhrkamp, in German.