Evaluating Hedge Fund Performance (Wiley Finance) [Hardcover]

Vinh Q. Tran (Author)

Book Description

Series: Wiley Finance | Publication Date: February 3, 2006

A comprehensive look at hedge fund performance issues

In Evaluating Hedge Fund Performance, Dr. Vinh Tran gives readers the information they need to construct an efficient hedge fund portfolio based on their own level of knowledge. From evaluating hedge funds to picking the winners, Dr. Tran covers some of the most important issues related to this flexible investment vehicle. Evaluating Hedge Fund Performance takes the standard hedge fund book to a new level by detailing how to manage the risk of hedge funds and offering the best methods to evaluate and monitor hedge funds. With strategy based on interviews and data from experts in the field, this book is a must-read for any investor or manager who is investing in hedge funds.

Editorial Reviews

From the Inside Flap

Divided into three comprehensive parts, Evaluating Hedge Fund Performance takes the standard hedge fund book to a new level by detailing how to manage the risks associated with hedge funds and offering the best methods to evaluate and monitor them.

As a primer on hedge funds, Part One of this book discusses the misconceptions about long-term investing and diversification in asset allocation and how hedge funds can fill the void left open by traditional long-only investments—so you can achieve long-term investment objectives with lower volatility. You'll also receive a comprehensive review of the hedge fund industry, its investors, and how main hedge fund strategies have performed in past market conditions.

Part Two of the book is devoted entirely to issues concerning manager research and evaluation, and portfolio construction. Here, you'll gain a better understanding of the risk/return characteristics of hedge fund strategies in order to assess their potential role and added value in diversified portfolios of hedge funds. You'll also discover how to properly analyze, evaluate, and select individual hedge funds as well as assemble them in ways that will achieve your targeted risks and returns.

Rounding out the discussion of hedge funds, Part Three of this important guide will show you how to periodically review, evaluate, and assess the performance of funds in your portfolio, including their rates of return, volatility of these returns, and how these investment results were produced. The purpose of this part is to make sure your portfolio and its hedge funds continue to perform as expected.

Filled with in-depth insight and expert advice, Evaluating Hedge Fund Performance can help you make the most of this flexible investment vehicle.

From the Back Cover

"This book provides a refreshing view of the pros and cons of investment in general and of hedge funds in particular. . . . Individuals wishing an honest introduction to the pros and cons of hedge fund investing will find this book worthwhile."
—From the Foreword by Thomas Schneeweis Editor, The Journal of Alternative Investments

"Finally, a book written by a market practitioner for market practitioners! A must-read for investors and practitioners alike."
—Joseph Pignatelli Jr., President, The Archstone Partnerships

"From picking the winners to going for the gold and searching for the Holy Grail (alpha), Tran does not leave any stone unturned. Highly recommended and a must-read for everyone interested in hedge funds and funds of hedge funds!"
—Greg N. Gregoriou, Associate Professor of Finance and coordinator of faculty research, State University of New York (Plattsburgh)

"Tran does a great job of explaining the dynamics of hedge fund performance in a simple and interesting manner. This book should be a great resource for anyone interested in hedge funds."
—Dr. Vikas Agarwal, Assistant Professor of Finance J. Mack Robinson College of Business, Georgia State University

See all Editorial Reviews

Product Details

• Hardcover: 284 pages
• Publisher: Wiley; 1 edition (February 3, 2006)
• Language: English
• ISBN-10: 0471681717
• ISBN-13: 978-0471681717
• Product Dimensions: 9.3 x 6.4 x 1.1 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 3.8 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #1,428,684 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

Most Helpful Customer Reviews

4 of 4 people found the following review helpful:

3.0 out of 5 stars Not for hedge fund professionals, February 23, 2006

By 

HF Professional (Chicago, IL USA) - See all my reviews

This review is from: Evaluating Hedge Fund Performance (Wiley Finance) (Hardcover)

I was thoroughly disappointed with the material in the book. As someone who evaluates hedge fund investments and performance on a daily basis, I am always on the lookout for new research. Wiley Books has traditionally done a very good job of publishing authors who contribute to the hedge fund investment research process. This book fails to break any new ground - in fact, it rehashes what any professional in the hedge fund world already knows. However, I did give it 3 stars because it may be useful for someone who is looking to break into the industry or is just starting out in the HF indsutry. And for any quants in the HF industry - stay away from this book. There is nothing to learn from it.

5.0 out of 5 stars Hedge Fund Guy, January 24, 2010

By 

global finance "global finance" - See all my reviews

This review is from: Evaluating Hedge Fund Performance (Wiley Finance) (Hardcover)

There are many books out there that I have read about the hedge fund industry and I found this one to be one of the best ones. It gives a perspective into the industry. It's a must read for people who are looking to get into the business.

5.0 out of 5 stars Excellent Resource, December 7, 2009

By 

fortyfonster (New York, NY USA) - See all my reviews

This review is from: Evaluating Hedge Fund Performance (Wiley Finance) (Hardcover)

I recently graduated with an MBA from a top 3 school. I now work in the investment management industry. I found the book very insightful. I strongly recommend it for those thinking about a career in the hedge fund industry and those who are already in it. What separates it from other books I've read is Dr. Tran's work experience in the hedge fund space and his ability to connect the theoretical with the practical aspects of the business.