Hedge Funds: Definitive Strategies and Techniques (Wiley Finance) [Hardcover]

IMCA (Author), Kenneth S. Phillips (Editor), Ronald J. Surz (Editor)

Book Description

ISBN-10: 0471463094 | ISBN-13: 978-0471463092 | Publication Date: August 27, 2003 | Edition: 1

A well-rounded hedge fund guide for the serious financial professional
Alternative investment strategies-hedge funds in particular-have experienced a significant resurgence recently, largely in response to the dramatic downturn of the global equity markets. In response to this explosion in popularity, this book focuses on many of the best moneymaking strategies related to these alternative investment vehicles.
IMCA (The Investment Management Consultants Association) is a professional association established in 1985, representing the investment consulting profession in the U.S. and Canada. Kenneth S. Phillips is a member of the IMCA Advisory Council and Managing Principal of Capital Partners, LLC. Ron Surz, CIMA, is a member of the IMCA Board of Directors and the President of PPCA Inc.

Editorial Reviews

From the Inside Flap

In recent years, hedge funds have gained enormous popularity among institutional and high-net-worth investors–primarily because many of these investment strategies are now seen as a reliable alternative to an otherwise volatile and directionless group of capital markets. While hedge fund investing can be beneficial, particularly in the context of traditionally allocated portfolios, there are many potential pitfalls. Consultants and investors alike must be prepared for the increasing complexity of strategies and instruments associated with hedge funds, not to mention the increase in the number of managers.

Written by a leading team of investment advisors and hedge fund experts, and fully backed by the Investment Management Consultants Association (IMCA), Hedge Funds: Definitive Strategies and Techniques demystifies the subject of hedge fund investing and focuses on the most frequently used investment strategies associated with this alternative investment class.

Composed of ten information-packed chapters–each individually written by industry experts–Hedge Funds explores important issues that will allow you to clarify your future investment strategies and portfolio allocations. Editors Kenneth Phillips and Ronald Surz pull together the best minds in the hedge fund business to discuss:

• The current regulatory framework of the U.S. hedge fund market
• Various hedge fund strategies’ alpha generating properties
• Funds of hedge funds
• Evaluating the performance of hedge funds
• Convertible Arbitrage, Merger Arbitrage, and Fixed-Income Arbitrage
• Global Macro and Managed Futures funds
• Risk management of hedge funds
• And much more

The hedge fund industry is constantly evolving. What was a highly secretive asset class is moving into the mainstream with each passing day. However, as more managers and investors jump into the fray, there is bound to be more confusion and losses due to uninformed participants. If you want to gain a practical and complete understanding of today’s complex hedge fund industry, look to the experts within these pages. This comprehensive guide will help any serious professional employ some of the most effective hedge fund strategies currently available.

From the Back Cover

Praise for Hedge Funds

"This book couldn’t be more timely! With continued turmoil in the world economy and a prolonged equity bear market, investors want to understand the role hedge funds should play in their investment strategy. Hedge Funds helps demystify many of the ‘secrets’ of hedge funds and gives investment consultants and investors alike valuable perspective on how hedge funds work, how they are regulated, their risk/return profiles, and the role they should play in an investment portfolio."
–J. Richard Joyner
Partner, Ernst & Young LLP

"An excellent resource for the advisor who is interested in hedge funds for his/her clients."
–Phillip N. Maisano
Chairman and CEO, Evaluation Associates

See all Editorial Reviews

Product Details

• Hardcover: 224 pages
• Publisher: Wiley; 1 edition (August 27, 2003)
• Language: English
• ISBN-10: 0471463094
• ISBN-13: 978-0471463092
• Product Dimensions: 9.3 x 6.2 x 0.9 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 3.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #768,514 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

8 of 8 people found the following review helpful:

4.0 out of 5 stars Ups and Downs of Investment Styles, April 29, 2004

By 

C. Kurdas (Brooklyn, NY United States) - See all my reviews
(VINE VOICE)    (REAL NAME)   

This review is from: Hedge Funds: Definitive Strategies and Techniques (Wiley Finance) (Hardcover)

Written by hedge fund people and university researchers, this collection includes in-depth discussions of money-making techniques practiced by fund managers. It may not be for beginners, but offers practical insights for those with some knowledge of hedge funds.

The article on hedged equity strategies, for instance, classifies these by several characteristics such as the nature of a manager's research. The author then points out the pros and cons of each category, thereby clarifying key issues.

Another paper looks at global macro--the strategy made famous by George Soros. There is a common notion that the day of the giant macro fund is over and there will be nobody like Soros again. This author rejects the idea, arguing that potentially great macro managers are out there, waiting to be discovered.

Now that there is broader interest in hedge funds, books like this one can help demystify what these offer to investors who seek alternatives to mutual funds.

2 of 2 people found the following review helpful:

3.0 out of 5 stars very general, June 21, 2006

By 

John Hookway (New Zealand) - See all my reviews
(REAL NAME)   

This review is from: Hedge Funds: Definitive Strategies and Techniques (Wiley Finance) (Hardcover)

The writing is rather academic and a bit like a lecture. It's sort of like a primer on the topic. It is good in a sense, because it covers issues in a concise format but is not really for a trader