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The Hedge Fund Book: A Training Manual for Professionals and Capital-Raising Executives 1st Edition

4.6 out of 5 stars 68 customer reviews
ISBN-13: 978-0470520635
ISBN-10: 0470520639
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Editorial Reviews

Review

I read Richard Wilson's book prior to launching my first hedge fund.  Thanks to the book, we successfully launched the fund an raised the needed capital in record time.  The book made the process far easier
         - Craig Nelson, Prima Equity Partners


This is the most comprehensive resource on the hedge fund industry that I've seen put into print.
          - Matt Recore, Recore Capital Growth Fund LLP


This book save a lot of time, energy, and money by teaching hedge fund marketing in a practical way.  Hedge fund managers who read this book will move up the learning curve at a rapid pace.
          - Hendrik Klein, CEO, Da Vinci Invest AG


There is not a more current, critical, and revealing book out there now about the future of the hedge fund industry.  Packing in knowledge from leading experts, Wilson has compiled a treasure trest of information and best practices here.
       - Scott Cohen, CPA, President, Hedge Solutions


Richard really captures all the facets of running a hedge fund.  The interview format and Q & A at the end of each chapter make it easy for someone outside the industry to learn about the alternative investment space. 
        - Lance Baraker

From the Inside Flap

Hedge funds are now in the news more than a thousand times a day, and yet it's hard to find clear, factual information about how they actually operate, raise capital, and invest.

That's why author Richard C. Wilson—head of the largest hedge fund networking group in the industry—has created The Hedge Fund Book. Filled with extensive interviews of various hedge fund managers, real-world case studies, review questions, and much more, this one-of-a-kind resource provides a solid foundation in specialized hedge fund knowledge for both financial professionals and those aspiring to enter this field.

Page by page, The Hedge Fund Book offers expert analysis of funds within different phases of their life cycles and investment processes, and examines each cycle in ways that would be informative for marketers as well as investors, bankers, and financial professionals who would like to learn more about day-to-day hedge fund operations. Along the way, this accessible guide will show you:

  • How hedge fund managers can immediately increase their operational effectiveness

  • Over 100 ways you can improve your hedge fund business or marketing processes with direct advice and interviews with industry veterans and hedge fund managers

  • Why most hedge fund managers struggle to raise capital and how being proactive within the right areas can allow a small team to raise a large amount of capital

  • How to implement governance best practices that will improve investor confidence, enhance decision-making processes, and decrease the risk of some types of fraud

  • How hedge funds are improving their business structure and processes without spending millions on infrastructure

  • How to start a hedge fund without over-spending or killing your chances of raising capital in the future

  • How to emulate the best practices of larger hedge funds, which have learned many lessons the hard way

Along with the information found here, there is also a series of over fifty video resources that act as a supplement to this training manual. Throughout the book, there are references to these resources, and the complete list of videos available may be seen at HedgeFundTraining.com/Videos.

Whether you're looking to gain a better understanding of hedge funds from a professional perspective or studying for the Certified Hedge Fund Professional (CHP) Designation Program, this book has the information you need to succeed in such a fast-moving field.

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Product Details

  • Hardcover: 208 pages
  • Publisher: Wiley; 1st edition (June 8, 2010)
  • Language: English
  • ISBN-10: 0470520639
  • ISBN-13: 978-0470520635
  • Product Dimensions: 6.4 x 0.8 x 9.3 inches
  • Shipping Weight: 13.6 ounces (View shipping rates and policies)
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (68 customer reviews)
  • Amazon Best Sellers Rank: #43,583 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Hardcover Verified Purchase
The book provides a discussion of various things to consider when starting a hedge fund. While the advice is generally sound, much of it is facile in nature.

Also, and this is the most annoying part of this book, Wilson has simply printed transcripts of interviews he conducted with numerous industry participants. If Wilson truly is an expert, he should take the time to distil the key points from these interviews and then couple them with his own views and write clear compelling chapters. Instead, he devotes pages and pages to interviewee bios, greetings ("Thanks for meeting with me"), and self-congratulatory comments ("That's a great point, Bill! I couldn't agree more").

In a further effort to increase the page count, he also pads it out with useless end of chapter summary questions and a long FAQ section. If those FAQ's are worthy of inclusion in the book, surely it would be useful to weave their content into the relevant chapters rather than simply bolting them on as the final chapter.

In the book, Wilson advises budding hedge fund managers to make sure they've got a killer Powerpoint pitch that is concise. Frankly, he should have taken his own advice and shortened this book to about a 20 page brochure or Powerpoint. But then it would be tough to command 'hardcover' book prices.
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Format: Hardcover Verified Purchase
I'm looking at this book as someone outside of finance looking to get in.

Pros:
Emphasizes creation of marketing materials. Talks about topics to mention specifically in marketing--very helpful.
New insight: Focus on selling process, trust, risk management (especially) and infrastructure rather than returns
Author has extra videos online that extend book topics, free discounts on related services. Author is well intentioned.
Really liked that he included a standard due diligence questionnaire

Cons:
Points made are often basic (emphasize unique selling proposition, positive thinking), rather than specific - Leaves out prime brokers & cap intro, soft dollars, legal & compliance issues (3c1vs 3c7, accredited vs qualified, etc.), historic context (Dodd-Frank legislation impact, rise of high frequency) & industry landscape (funds vs fund of funds, institutions vs family offices etc).

Author comes off as obsequious in the interviews when he always agrees with subjects. Too many interviews with service providers, not enough with name brand hedge fund managers. Study questions seem silly for a non-academic book.
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Format: Hardcover
Very basic stuff, primarily for people with absolutely no industry knowledge.
Do a Google search for hedge fund information and you will get for free what this book has to offer.
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Format: Hardcover Verified Purchase
Can not say it is a total lost.

After the second chapter, I totally ignore what Richard says and focus on what interviewees say.

With almost same content, I would recommend " Launching a Hedge Fund: Lessons Learned by the COO of a Start-up Fund " with less money and less time to read. Try both books if you would like as me.
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Format: Hardcover Verified Purchase
The messages delivered in this book is clear. There are many considerations for hedge fund start-ups and those wanting to grow larger and better and this book paves the way for such tiresome endeavors. Spoilers not included, there are certain executions that are necessary to ensure investors' confidence and ease-of-mind. These often forgotten, neglected and forsaken steps are emphasized here and one should never overlook such simple procedures.

The book is written in a casual style of interviews. It is easy to read and comfortable to study.
On hindsight, the delivery can be more structured. The links to the videos no longer exist because the book was written in 2010 and some of the links has expired. The videos are supplements to the book that gives it extra value but the value is not accessible and this can be rather frustrating. Still, a good read.
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Format: Kindle Edition Verified Purchase
Mr. Wilson has done it again with this book. He goes in depth on the Hedge Fund industry. Topics included and covered are:

1. Hedge fund mechanics and statistics
2. Hedge fund ecosystem
3. Interview with several fund managers
4.Interview with hedge fund start up gurus
5. Due diligence
6. Governance & best practices

It is required reading for the Hedge Fund Professional course but it will not disappoint. I did learn a lot from it and especially learned how the 'big boys' in the industry think.
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Format: Hardcover
Very basic information, simplified and a sometimes annoying interview style (good question, very good point, that's valuable information - of course.....) - book isn't worth the money in my opinion
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Format: Hardcover Verified Purchase
Richards book allowed me to get a much better grasp of the industry as I launched my second Fund. Things have changed; mainly the transparency and Industry "Best Practices". He doesn't help with strategy, nor does he try. Without one, you don't need the book! Once you decide to move frwrd, the book provides a ton of advice, guidance, recommended websites, video modules,and references. Also provided is an outline of a Due Diligence Questionnaire. This, I found, very valuable. The interviews are real, real people in the know, real answers to important questions. I was not turned off by this method at all. As for the real advice and honesty on Cap Raising; it is what I needed to hear. And, it is accurate. I give five stars mainly because it would be on my "must have" list for a HF starting out, or attempting to implement "Best Practices".
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