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All About Hedge Funds : The Easy Way to Get Started 1st Edition

4.2 out of 5 stars 35 customer reviews
ISBN-13: 978-0071393935
ISBN-10: 0071393935
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Frequently Bought Together

  • All About Hedge Funds : The Easy Way to Get Started
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  • Hedge Fund of Funds Investing: An Investor's Guide
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  • The Hedge Fund Book: A Training Manual for Professionals and Capital-Raising Executives
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Editorial Reviews

From the Back Cover

Everything You Need to Know About Hedge Funds--What They Are, How They Can Improve Your Portfolio

Hedge funds have long been viewed as shadowy, high-risk investments, suitable only for the super-wealthy. Today, increasing numbers of individuals and institutions have come to view hedge funds as a way to improve the overall performance of their portfolios, reduce the risk, or even do both.

All About Hedge Funds debunks the myths that surround this increasingly visible investment tool. This comprehensive-yet-easy-to-follow guidebook reviews the distinctive risks of hedge funds, then shows you how they fit into the universe of investment options and how they can be incorporated into a well-diversified portfolio. Regardless of your investment objectives and strategies, All About Hedge Funds is the essential book for determining if this potentially lucrative--and increasingly mainstream--vehicle is right for you.

Whether you are an experienced hedge fund investor or are just beginning to investigate hedge funds, All About Hedge Funds will give you detailed information on:

  • Opportunities and risks in the popular hedge fund strategies
  • Leverage, short selling, and hedging
  • How hedge funds fit into the global financial system
  • How hedge funds fit into a balanced stock/bond portfolio
  • Legal, regulatory, and tax issues
  • The EACM 100“ Index
  • And much more

About the Author

Robert Jaeger, Ph.D., is vice chairman and chief investment officer of leading hedge fund firm Evaluation Associates Capital Markets.

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Product Details

  • Series: All About Series
  • Paperback: 309 pages
  • Publisher: McGraw-Hill; 1 edition (October 15, 2002)
  • Language: English
  • ISBN-10: 0071393935
  • ISBN-13: 978-0071393935
  • Product Dimensions: 6.1 x 0.7 x 8.9 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (35 customer reviews)
  • Amazon Best Sellers Rank: #566,018 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By therosen VINE VOICE on July 22, 2003
Format: Paperback Verified Purchase
This book presents a fantastic overview of the hedge fund industry. The intended target audience is hedge fund investors, which is reinforced by the author's credentials as an executive in a "Fund of Funds". In addition, the book would be very useful as an interview to financial markets, useful for business students interested in careers in trading or hedge funds.
The book starts with a broad overview of market theory, covering efficient markets, diversification theory and strengths and weaknesses of the "Random Walk" theory. The book then moves to an overview of the various investment tools available to hedge funds, such as going long and short on stock prices and volatility. (If you'd like to know in plain english what being "long volatility" means, this is a good book for you!) The book then covers legal, financial and operational details of running a fund. Lastly, it covers the various types of funds, such as equity funds and event driven funds. The scope of the material covers financial institutions such as investment banks and brokers that support hedge funds.
In summary, this was a very informative introductory text on both hedge funds and markets. It will be very useful to both new investors in hedge funds, as well as students of financial markets. The math is well explained, and there are only a few tough technical sections.
Enjoy!
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Format: Paperback
This book delivered what I was looking for and more. I needed an introduction to hedge funds and the industry and the book does an excellent job of providing this information in complete and concise detail. In addition, the book also gives a good overview of portfolio theory and how it relates to actual practice. There is also a section that describes the prevalent hedge fund strategies with historical performances. I highly recommend this book to those interested in starting their own fund or wishing to work in the industry.
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Format: Paperback Verified Purchase
Not just for people looking for a hedge fund! This book is a great introduction to modern portfolio theory and gives excellent descriptions of most key concepts. If there's a 2nd edition, I hope he will include more clarity and discussion of key terms like Sharpe Ratio (there are 2 definitions in customary usage, it's an important and misunderstood number, and there is no occurrence of "sharpe ratio" in the index), Alpha, Beta, R-squared, etc. Nonetheless, this book is extremely helpful and highly recommended.
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Format: Paperback Verified Purchase
So, you want to manage/run/work at a hedge fund right? well this book wont help you with that at all.
What this book will do is give you a basic understanding of a few hedge fund strategies including Long/Short, market neutral, leveraged.

Another thing I liked is how the author explains how to measure performance, returns, and compensation structure - things that are still relevant today.
However, some of the stuff is kinda old and obsolete and is not relevant in today's hedge fund world.

This book is easy to follow but it does get a little complicated and confusing in the few technical sections.
I am not sure who the intended audience is for this book is but I believe the author is writing for possibly business school students who are not sure what they want to do when they graduate.

I wish the author written another edition and maybe teamed up with another person to help explain and structure the more confusing sections better.
Also, I would like the author to include more about HF operations, legal, marketing, etc -- which are the other big parts of running a hedge fund besides investing

All in all its a decent read but dont expected to become a hedge fund manager after reading this book.
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By A Customer on September 5, 2003
Format: Paperback
This book is great!
I'm a Wall Street professional, but wanted to understand more about the hedge fund business. My initial concern was that this book was going to be too basic, but it was not. It provided excellent insights into the function of hedge funds in today's financial world, various types of investment strategies, the tools available to hedge funds and even went into regulatory and tax issues. It answered all the questions I had about hedge funds (and was afraid to ask). Yet while it was not too simplistic for someone already in the financial services world, it was also not too complicated for a layperson. This book will remain a valuable resource for me in the future.
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Page 181 of this 309-page book starts with: "We have spent a lot of time looking at investment issues related to hedge funds: investment objectives, strategies, techniques, and so forth. The next few chapters take a brief look at some of the business and operational issues that arise in the hedge fund world." Finally! Well, page 205 hurries back to "The Menu of Hedge Fund Strategies" about longs and shorts, stocks and bonds and indexes and volatility. Why a publisher would cheat his readers with a title like "All about Hedge Funds" for what is just some investor's handbook is beyond me. Imagine considering serious participation in such fund and the term "Private Placement Memorandum" isn't even mentioned once in this book. Probably the author never heard of it: he intended to write about investing and did, but, discouraged by the crowded market in these books, shuffled in 23 pages about hedge funds so he could rename his book. I fell into the trap, make sure you don't.
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