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All About Hedge Funds : The Easy Way to Get Started 1st Edition

4.2 out of 5 stars 33 customer reviews
ISBN-13: 978-0071393935
ISBN-10: 0071393935
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Editorial Reviews

From the Back Cover

Everything You Need to Know About Hedge Funds--What They Are, How They Can Improve Your Portfolio

Hedge funds have long been viewed as shadowy, high-risk investments, suitable only for the super-wealthy. Today, increasing numbers of individuals and institutions have come to view hedge funds as a way to improve the overall performance of their portfolios, reduce the risk, or even do both.

All About Hedge Funds debunks the myths that surround this increasingly visible investment tool. This comprehensive-yet-easy-to-follow guidebook reviews the distinctive risks of hedge funds, then shows you how they fit into the universe of investment options and how they can be incorporated into a well-diversified portfolio. Regardless of your investment objectives and strategies, All About Hedge Funds is the essential book for determining if this potentially lucrative--and increasingly mainstream--vehicle is right for you.

Whether you are an experienced hedge fund investor or are just beginning to investigate hedge funds, All About Hedge Funds will give you detailed information on:

  • Opportunities and risks in the popular hedge fund strategies
  • Leverage, short selling, and hedging
  • How hedge funds fit into the global financial system
  • How hedge funds fit into a balanced stock/bond portfolio
  • Legal, regulatory, and tax issues
  • The EACM 100“ Index
  • And much more

About the Author

Robert Jaeger, Ph.D., is vice chairman and chief investment officer of leading hedge fund firm Evaluation Associates Capital Markets.

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Product Details

  • Series: All About Series
  • Paperback: 309 pages
  • Publisher: McGraw-Hill; 1 edition (October 15, 2002)
  • Language: English
  • ISBN-10: 0071393935
  • ISBN-13: 978-0071393935
  • Product Dimensions: 6.1 x 0.7 x 8.9 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (33 customer reviews)
  • Amazon Best Sellers Rank: #525,221 in Books (See Top 100 in Books)

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Customer Reviews

Top Customer Reviews

Format: Paperback Verified Purchase
This book presents a fantastic overview of the hedge fund industry. The intended target audience is hedge fund investors, which is reinforced by the author's credentials as an executive in a "Fund of Funds". In addition, the book would be very useful as an interview to financial markets, useful for business students interested in careers in trading or hedge funds.
The book starts with a broad overview of market theory, covering efficient markets, diversification theory and strengths and weaknesses of the "Random Walk" theory. The book then moves to an overview of the various investment tools available to hedge funds, such as going long and short on stock prices and volatility. (If you'd like to know in plain english what being "long volatility" means, this is a good book for you!) The book then covers legal, financial and operational details of running a fund. Lastly, it covers the various types of funds, such as equity funds and event driven funds. The scope of the material covers financial institutions such as investment banks and brokers that support hedge funds.
In summary, this was a very informative introductory text on both hedge funds and markets. It will be very useful to both new investors in hedge funds, as well as students of financial markets. The math is well explained, and there are only a few tough technical sections.
Enjoy!
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Format: Paperback
This book delivered what I was looking for and more. I needed an introduction to hedge funds and the industry and the book does an excellent job of providing this information in complete and concise detail. In addition, the book also gives a good overview of portfolio theory and how it relates to actual practice. There is also a section that describes the prevalent hedge fund strategies with historical performances. I highly recommend this book to those interested in starting their own fund or wishing to work in the industry.
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Format: Paperback Verified Purchase
Not just for people looking for a hedge fund! This book is a great introduction to modern portfolio theory and gives excellent descriptions of most key concepts. If there's a 2nd edition, I hope he will include more clarity and discussion of key terms like Sharpe Ratio (there are 2 definitions in customary usage, it's an important and misunderstood number, and there is no occurrence of "sharpe ratio" in the index), Alpha, Beta, R-squared, etc. Nonetheless, this book is extremely helpful and highly recommended.
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By A Customer on September 5, 2003
Format: Paperback
This book is great!
I'm a Wall Street professional, but wanted to understand more about the hedge fund business. My initial concern was that this book was going to be too basic, but it was not. It provided excellent insights into the function of hedge funds in today's financial world, various types of investment strategies, the tools available to hedge funds and even went into regulatory and tax issues. It answered all the questions I had about hedge funds (and was afraid to ask). Yet while it was not too simplistic for someone already in the financial services world, it was also not too complicated for a layperson. This book will remain a valuable resource for me in the future.
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Format: Paperback Verified Purchase
Page 181 of this 309-page book starts with: "We have spent a lot of time looking at investment issues related to hedge funds: investment objectives, strategies, techniques, and so forth. The next few chapters take a brief look at some of the business and operational issues that arise in the hedge fund world." Finally! Well, page 205 hurries back to "The Menu of Hedge Fund Strategies" about longs and shorts, stocks and bonds and indexes and volatility. Why a publisher would cheat his readers with a title like "All about Hedge Funds" for what is just some investor's handbook is beyond me. Imagine considering serious participation in such fund and the term "Private Placement Memorandum" isn't even mentioned once in this book. Probably the author never heard of it: he intended to write about investing and did, but, discouraged by the crowded market in these books, shuffled in 23 pages about hedge funds so he could rename his book. I fell into the trap, make sure you don't.
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By DJ on January 21, 2006
Format: Paperback
the hedge fund industry is grossly misunderstood by many.

The media villifies it and portrays managers as nefariously corrupt, for-the-rich-only servants.

some of that is true, but most of it is not.

this book takes a healthy and objective look at what, how, and why hedge funds operate.

It's not perfect, but it's as close as you'll get if you're looking for a ton of wealth in a 48 hour reading period.

By the way, this is the main book they use at YALE for their hedge fund MBA class.
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Format: Paperback
This is an excellent resource for learning all about Hedge Funds and how they work. This book delves deep enough into the various aspects of Hedge Funds to be very instructive but not too analytical. Not a book for dummies and not a PhD in Finance reference, a great resource right in the middle. This book is perfect for those who are looking for a relatively in depth knowledge of Hedge Funds without boring themselves with too many analytical and overly academic concepts and theories.
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