Friday, July 12, 2013

The Billionaire's Apprentice: The Rise of The Indian-American Elite and The Fall of The Galleon Hedge Fund

Author: Anitha Raghavan


Anitha has written a well researched book that explores the successes and failures of the South Asian diaspora. One of the main characters is Rajat Gupta who is one of the millions of "twice blessed" Indians who immigrated to the US and rose to great heights ultimately taking the helm at McKinsey and Co. Rajat's first "blessing" was being born after India acquired Independence from the British in 1947 allowing him access to some of the best higher education in the country. Rajat's second blessing was the passing of the Hart-Cellar Act in 1965 that removed the tight restrictions on the number of immigrants that were allowed into the US from India.

Despite the fact that the characters and material are not particularly colorful, Anitha has done a stellar job researching their history and breathing life into them. Given that I am of Indian descent, I felt the descriptions were very accurate and conjured up images in my mind that seemed spot on. I eagerly lapped up the many little details that Anitha has dribbled throughout the book and I have to confess that it makes for a very entertaining read.

Even if you are not particularly interested in the story about the rise and fall of the Galleon Hedge fund or the success and failure of some of the most prominent Indians in the US, the book does make you think about the fine line that divides a casual chat over drinks into an insider trading charge. I highly recommend this book to anyone curious about Raj, Rajat, Galleon or insider trading in general.

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