|Amazon Price||New from||Used from|
"Simon Lack, a hedge fund veteran exposes some unforeseen anduncomfortable truths about the industry in his new book." (HedgeFund Net, January 2012)
"...a cautionary tale from one who knows just about all thetricks...an easy, largely fun and certainly instructive read"(Financial World, February 2012)
"Devastating little book.... His conclusions will makeuncomfortable reading for many self-styled 'masters of theuniverse'.... This book should be required reading for pension fundtrustees." (Jonathan Ford, Financial Times, 19th February2012)
Drawing on an insider's view of hedge fund growth during the1990s, a time when investors in the field did well in part becausethere were relatively few of them, The Hedge Fund Miragechronicles the history of the hedge fund, highlighting the manysubtle and not-so-subtle ways that returns and risks are biased infavor of the fund manager, and how investors and allocators canredress this imbalance. Packed with information about the industryand what's wrong with it, the book steers you away from the trapsthat befall so many investors. Full of helpful pointers on how toreally get the most out of your hedge fund investments, itencourages using new and emerging hedge fund managers whose returnsare generally better, negotiating more assertively for strongerinvestor rights, and warns anyone putting their money in the handsof a manager to demand complete transparency at all times.
Hedge fund investors have had it tough in recent years, but thatdoesn't mean that there isn't money to be made. As the success ofhedge fund managers shows, opportunities are there. The dilemma forinvestors is figuring out how to identify managers you can trustand learning the techniques to keep more of the money generatedusing your capital. The Hedge Fund Mirage is here to help,turning the tables on conventional industry wisdom to put you, theinvestor, back in charge.
Well done and quite readable. As far as I know, no one has undertaken to write a rebuttal to this excellent book. Read morePublished 4 months ago by Timothy Mcglinn
Enjoyed book immensely Working in the capital markets it has become highly relevant to understand how hedge funds make profits and declare good returns for the fund but not for... Read morePublished 7 months ago by Guy
Lack's book is a good balance between substantive data that gives weight to his observations and anecedotal stories that keep the reader engaged.Published 23 months ago by Salew
Very credible review from an experienced observer. Anyone thinking of investing in hedge funds directly or as an adviser or trustee should read this account.Published on November 28, 2012 by James H. Gately
I read this hoping to see a new, fresh perspective. What a waste. The general thesis is totally flawed and built on anecdotal observations that are completely useless. Read morePublished on October 21, 2012 by William Moore
Certainly better than the drivel Maneet put out for CNBC. There is new information in "Mirage", and explains how much of the hype around hedge funds is just misleading statistics. Read morePublished on August 17, 2012 by auilachs
Having worked in finance for a number of years I was curious about this book and the author's audacious claims about the industry's lack of long term value-add. Read morePublished on July 31, 2012 by Jackson St.