Customer Reviews

Getting Started in Hedge Funds

5 star:		(10)
4 star:		(3)
3 star:		(2)
2 star:		(2)
1 star:		(8)

 

 

The book is a very basic overview of hedge fund industry developments. It is important to note that the history stops at 1999 and that there have been a number of significant industry developments since then. As other reviewers have correctly pointed out, the most interesting aspect of the book is the short articles from fund managers who have started their own funds with as little as $1 million in assets under management.
For those seeking a greater insight into the risk management techniques employed by hedge funds, or the basic "How to's" of starting a fund....this is not the book for you.

This book is a highly readable and interesting introduction to hedge funds. The author has taken on a monumental task -- trying to make understanding hedge funds accessible. Maybe it shouldn't be so hard to do that -- but to my knowledge this is the first book that really puts hedge funds into context.

While it is a relatively quick and enjoyable read, the book covers a lot of important ground -- the history of hedge funds, how hedge funds work and a series of in-depth profiles of hedge fund managers at work. These profiles illustrate how truly diverse these investment vehicles are.

The profile of Alfred Winslow Jones, credited as the founder of hedge funds, is particularly interesting. The recap of the events at Long-Term Capital and other big funds that posted big losses, are concisely presented.

Strachman makes it clear that anyone considering investing in hedge funds must do a lot of homework. This book will help investors formulate the right questions to ask.

At the same time, it is accessible enough for any investor who wants to know more about hedge funds.

I bought this book because of my desire to learn more about hedge funds. I thought there would be more detail about the functions and trading strategies and styles of the managers. I also thought there would be more detail as to what is required to start your own hedge fund. The book instead paints an overview of these areas and never delves beneath the surface.

The author is a journalist and it is evident in his writing style. Lots of quotes from hedge fund managers and anecdotes as though they came from short articles but not a lot of facts. Some parts look like cut and pastes of a series of articles he had written and were put together. I even found some pages where the same statement was made twice, thus enforcing my belief that different pieces were cut and paste together. (Editor's fault for not catching it)

Redeeming quality of the book is the fact that it does have direct information from hedge fund managers not usually availabel since the author was able to talk to many who never usually talk to the press. The stories do let the reader inside what hedge funds are and how they operate. Maybe too much focus on Long-Term Capital Management and Soros, who in my mind are the unique large hedge funds that do not reflect the average hedge fund that operates today. The gem of the book is the profile of 10 hedge fund operators. Very interesting to see the different personalities and backgrounds and paths each took to managing their own hedge funds.

If you want a nice overview or starter book in hedge funds, then for the price, this book does deliver and provides a great foundation. If you already are familiar with hedge funds and want more detail, I suggest you do your own research on the net where I found detailed papers put out by hedge fund associations on proper operation of hedge funds and detailed breakdowns of different types and managing styles. I printed them out for free and find more information then in the book I paid for.

Steer clear of this book. The writing sub-par and there is very little substance in this book. Getting Started in Hedge Funds reads much like a 200 page USA Today article.

The book is predominately a desultory history of the hedge fund industry and offers very little information about specific hedging strategies. Additionally, the bit of history that it does offer does not go beyond 1999. So we do not even get to see how the industry weathered the recession and 9/11 attacks.

This book is a good introduction to the world of hedge funds--what they are, where they come from, and, most importantly, how they make money. Strachman is clearly a believer in the industry, and readers not familiar with the investment techniques described would do well to take some of his claims with a grain of salt (specifically, that the managers profiled necessarily know what they're doing). This book will not equip you to run your own fund, but it will give you a sense of the landscape.

Strachman does an excellent job explaining the world of hedge funds from many perspectives--the strategies, the managers, and the investors-- and puts it all together to form a cohesive picture. The book is written in language an intelligent investor can understand, even without previous experience with these sometimes exotic investment vehicles. This book is an excellent resource both for beginning an investigation into the possibility of adding hedge funds to your portfolio, or for simply acquainting oneself with this fascinating niche of the investment world.

Daniel Strachman's Getting Started in Hedge Funds is a poorly written, remarkably uninspiring piece of work. Instead of actually talking about "getting started in hedge funds" - the author spends most of his time sketching profiles of the different players involved in the hedge fund industry. I'd venture to say this book offers almost nothing of value to anyone who spends even a minute or two per week perusing financial news and information. Not recommended.

This book contains way too much fluff. However, I did enjoy the fund manager profiles toward the end of the book.

Was throughly disappointed with this book. The initial chapters of the book just collects information from other published books and presents it. Later chapters interviews hedge fund managers and has stories written about it, instead of technical insights.

It contains lots of hedge fund stories (which you can just search on google and get it for free!) rather than useful technical information. Finished reading it in less than 60 min.

I will not suggest this book even for the beginner

satish paul

Really, my freshman business students have turned in term papers with more information about hedge funds! I am surprised that some reviewers found this tiny book to be helpful.I can only conclude that they are his best friends or Mom and Dad! Nothing here will enable you to get started in hedge funds! It worries me that people will think this book will give them the information needed to get involved in this complicateed field.