- Hardcover: 528 pages
- Publisher: John Wiley & Sons (22 Nov 2002)
- Language English
- ISBN-10: 0471251208
- ISBN-13: 978-0471251200
- Product Dimensions: 23.5 x 15.9 x 4.1 cm
- Average Customer Review: 5.0 out of 5 stars See all reviews (1 customer review)
- Amazon Bestsellers Rank: 818,300 in Books (See Top 100 in Books)
- See Complete Table of Contents
Absolute Returns
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Product Description
Review
“…offers a solid, comprehensive guide to speculators, explaining the risks as well as the rewards. This book is a valuable addition to every investor’s library.” (Financial World, July 2004)
"It should be required reading for any investor who wants to understand the absolute returns alternative to conventional wealth management." (Hedgeworld.com)
“…required reading for any investor who wants to understand the absolute returns alternative to conventional wealth management…” (HedgeWorld’s Inside Edge, 31 March 2003)
Product Description
A practical guide to strategies of hedge fund investing.
Hedge fund expert Alexander Ineichen outlines strategies that hedge fund managers use to achieve superior investment performance, particularly in bear markets, when traditional investment strategies do not perform so well, and shows readers how hedge funds might be added to traditional investment portfolios to achieve superior returns. Nontechnical yet sophisticated, Absolute Returns shows investors how to make educated decisions about hedge fund investment––thoroughly explaining the risks as well as the rewards.
Hedge fund expert Alexander Ineichen outlines strategies that hedge fund managers use to achieve superior investment performance, particularly in bear markets, when traditional investment strategies do not perform so well, and shows readers how hedge funds might be added to traditional investment portfolios to achieve superior returns. Nontechnical yet sophisticated, Absolute Returns shows investors how to make educated decisions about hedge fund investment––thoroughly explaining the risks as well as the rewards.
Inside This Book
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First Sentence
Most market observers put down 1949 as the starting date for so-called absolute return managers, that is, the hedge fund industry. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
Most market observers put down 1949 as the starting date for so-called absolute return managers, that is, the hedge fund industry. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews
Most Helpful Customer Reviews
0 of 3 people found the following review helpful
Format:Hardcover
Hedge funds burst into the headlines in the early 1990s, when George Soros became a household name — at least in Europe, where many people blamed him and his hedge fund for wrecking the European exchange rate mechanism. Similarly, a U.S. hedge fund called Long Term Capital Management (LTCM) began with an aura of investing invincibility, only to fail dramatically. Hedge fund investing is sometimes, but not always, high risk and high return. Once limited to a privileged elite group of investors, hedge funds are now opening their rosters to less sophisticated, less wealthy speculators. But hedge funds are not just like any other funds, and anyone contemplating an investment needs a solid, comprehensive guide, such as this book. Author Alexander M. Ineichen, neither a salesman nor an alarmist, pulls no punches when discussing the risks of hedge funds. He is quite straightforward about the sometimes astonishing success of some hedge fund managers, but careful to point out the common misconceptions about them. Without hedging our bets, we find this book a valuable addition to every investor’s library.
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
9 reviews
23 of 25 people found the following review helpful
Who is the Audience?
22 April 2003
Format:Hardcover
This book has many fine features but has two serious drawbacks as well.
On the positive side, I have never read a more complete polemic in favor of the hedge fund industry. He shreds EMF with loads of good evidence and humorous anecdotes. However, there seems to be a constant drive to reinforce this point. Unfortunately, it takes away from a more thorough analysis of the types of hedge fund investing.
Another problem with the book is that it has trouble discovering its audience. At times, we get detailed descriptions of what alpha and beta represent (Finance 101) and at other times, abstruse PM concepts are brushed over as common knowledge.
I would definitely recommend this book but I recommend that the reader is accompanied by a Dictionary of Finance and Investing.
11 of 12 people found the following review helpful
Introduction to hedgefunds
2 Aug 2004
Format:Hardcover
The book opens with an overview of hedge funds. He classifies hedge funds according to the strategies they employ: relative value, event driven, macro, etc. Not only does he explain the trading strategies, but he delves into what can go wrong. In general theres more discussions on equity related strategies, and less in interest rates. Theres lots of historical data/information on hedgefunds performance ,indicating the very poor performance (and high total risk) of traditional funds.
This book provides a nice introduction to hedgefunds, perhaps not so much news for experienced readers. At times theres very detailed information, in other parts the author provides only an overview (whos the audience?).
This book provides a nice introduction to hedgefunds, perhaps not so much news for experienced readers. At times theres very detailed information, in other parts the author provides only an overview (whos the audience?).
11 of 12 people found the following review helpful
A Lesson from the Titanic
9 July 2003
Format:Hardcover
The iceberg on the cover represents total risk-partly visible and partly not. Ineichen's point is that hedge fund or absolute return managers tackle total risk while their traditional mutual fund counterparts worry about only one part of it, namely the risk of straying from their benchmark. His extensive discussion contains worthy lessons for all investors who want to understand risk. While not every chapter may be useful for every reader, this book is an excellent place to learn about alternative investment strategies.
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