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Hedge Funds For Dummies Paperback – October 30, 2006

ISBN-13: 978-0470049273 ISBN-10: 0470049278 Edition: 1st

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Product Details

  • Paperback: 360 pages
  • Publisher: For Dummies; 1 edition (October 30, 2006)
  • Language: English
  • ISBN-10: 0470049278
  • ISBN-13: 978-0470049273
  • Product Dimensions: 7.4 x 0.7 x 9.2 inches
  • Shipping Weight: 1.3 pounds (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (15 customer reviews)
  • Amazon Best Sellers Rank: #396,137 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

Filled with tips on picking the right fund — at the righttime

Calculate risk and return, analyze funds, and evaluate yourperformance

Want to diversify your portfolio with hedge funds? Need to knowmore before you invest? Relax! Hedge Funds For Dummiesexplores the pros and cons of hedge funds as an investment choice,and shows you how to find a hedge fund manager who is right foryou. When it comes to hedge funds, start here!

Discover how to

  • Understand your tax liability
  • Avoid common mistakes of failed hedge funds
  • Set up your hedge fund strategy
  • Understand legislation affecting hedge funds
  • Handle due diligence on your hedge fund

About the Author

Ann C. Logue is a freelance writer and consulting analyst. She has written for Barron’s, the New York Times, Newsweek Japan, Compliance Week, and the International Monetary Fund. She’s a lecturer at the Liautaud Graduate School of Business at the University of Illinois at Chicago. Her current career follows 12 years of experience as an investment analyst. She has a BA from Northwestern University, an MBA from the University of Chicago, and she holds the Chartered Financial Analyst designation.

Customer Reviews

4.4 out of 5 stars
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Good book, quite informative, very well written.
John Kotsonis
Regardless of whether you are thinking of starting a fund or thinking about investing in a fund, this book will be an excellent resource.
J. Oates-Larsen
It goes well beyond what you would expect from a book with such a whimsical title.
Ralph White

Most Helpful Customer Reviews

27 of 31 people found the following review helpful By Alexander Ineichen on December 6, 2006
Format: Paperback
I hate to admit but this book is actually pretty good. Being a financial professional as well as marginally positively biased towards the hedge fund industry, the publication of this book initially caused laughter as well as sadness in the industry. The title alone is cause for laughter: Hedge Funds for Dummies. Hilarious. It is also sad: The industry becoming mainstream so fast is somewhat sad in a sense that it loses some of its exclusivity.

The target audience is not, as the title rhetorically suggests, idiots but reasonably educated and curious people (essentially people who buy books for the purpose of acquiring knowledge and insight rather than public display). The reason for this book getting five stars is the following: Most books on hedge funds are written either by academics or practitioners. The books written by academics are quite often perceived as hoax by the investment profession because the content is abstract and dogmatic, i.e., a desperate attempt to fit the hedge fund phenomena into the corset of old paradigms such as "relative return investing" and EMH and CAPM whereas it too often transpires that the authors never have come even close to visiting or experiencing the dynamics of a trading floor in the real world. Books by practitioners on the hand often lack rigor and occasionally lack a sense for understanding the other side, i.e., the investors and their needs, requirements and constraints. Hedge Fund for Dummies finds an attractive balance. A balance between explaining or highlighting the theory including where the theory breaks down or is a poor description of investment reality on one hand and having the investor in mind on the other.

In addition, we all would seriously be better off if this book were required reading for US Congress.
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9 of 11 people found the following review helpful By Todd Sullivan on April 3, 2008
Format: Paperback
As its tagline suggests, the FOR DUMMIES series is "a reference for the rest of us". Each introductory book has been designed to teach dilettantes as much as possible, in the shortest amount of time. A word of caution though, the FOR DUMMIES series is only `for dummies' in a relative sense. While the author, Ann Logue, laments the simplicity of the series, she also explains that Hedge Funds FOR DUMMIES is intended for an inquisitive, yet intelligent audience. The significance of this became increasingly apparent as I progressed further through this book.

Logue appears aptly qualified to author this text with more than 12 years experience as an investment analyst. Her qualifications include the Chartered Financial Analyst (CFA) certification and an MBA from the University of Chicago. In terms of her approach, she refreshingly engages the audience with a combination of colloquial wit and academic rigour. The only significant fault I could find is that she excessively repeats the basics, though this may be fitting for readers without a diverse investment background. Overall however, I believe Logue's unique style and objective opinions would make this book a worthwhile addition to any investor's collection.

The book begins with an ever-present question: what is a hedge fund? While the answer may be obvious to some, a lot of detail regarding the genesis and advancement of hedge funds is presented. One of the more interesting stories is that of a hedge fund operated by two of the US's most acclaimed and eminent finance professors; Robert Merton and Myron Scholes. Their fund profited from arbitrage trades in the bond market and ultimately collapsed due to a default on Russian treasury bonds.
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9 of 11 people found the following review helpful By L. Masonson on March 22, 2007
Format: Paperback
This book covers all the bases that an investor should consider before deciding to invest. They are too numerous to mention here, but in this 342-page primer, the author clearly explains the critical information necessary to make an informed decision as to whether a hedge fund is for you.

Hedge funds have been in the news lately, but not necessarily for their supposed out performance characteristics. Nine hedge funds (for example, Amaranth Advisors) have closed their doors in the past year, some because of outsized bets by traders on the wrong side of the markets they were trading. This is not the way to increase performance. In 1998, Long-Term Capital Management blew up, even with two Noble-prize winning economists on the staff. All hedge funds are not alike and there risks that need to be taken into account.

Hedge fund assets are estimated to be $1.2 trillion with over 9000 funds in existence. For most investors, due to the stringent entry requirements, hedge funds are not an option. Wealthy individuals who may be interested in hedge funds are urged to read this book (as well as others interested in learning about the subject) before placing their hard-earned money at risk. This suggestion may save them millions of dollars in potential losses, if they decide not to invest in certain hedge funds because of their due diligence learned from this book.

Additionally, the author provides insight on setting up your own hedge fund portfolio by selecting different categories of investments. Surprisingly though, she spends a miniscule amount of time discussing exchange traded funds (ETFs) to build the hedge fund portfolio. Now that there over 425 ETFs offering all types of investment alternatives, this is one area that deserves more attention.
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More About the Author

Ann Logue is a freelance writer and consulting analyst who is fascinated by business and technology. Among her clients and publications are Barron's, The New York Times, Newsweek Japan, Compliance Week, and the International Monetary Fund. She also teaches finance at the University of Illinois at Chicago. She holds a B.A. from Northwestern University, an M.B.A. from the University of Chicago, and the Chartered Financial Analyst designation.