In 1990 hedge funds managed some $39 billion of assets and were almost unknown. By 2008 that figure had grown to almost $2 trillion and hedge funds were being blamed by some for contributing to the credit crunch and demonised by others for their greed. The rise of the industry has created a new bunch of billionaires, who have made themselves rich by managing other people's money. Jim Simons, a mathematician who in a previous generation might have had to make do on an academic's salary, earned a remarkable $2.5 billion in 2008 alone; the top 10 managers that year were paid almost $10 billion between them, with the top three earning over $1 billion each. Nowadays most people have heard the term 'hedge fund' but few are clear about what exactly a hedge fund is or what it does. This guide aims to put them in the picture with the clarity and lively prose that The Economist is famous for. It provides a succinct survey of the industry for all those who think they should know about hedge funds, but do not. It is aimed at all those who might want or have to deal with a hedge fund: private investors, trustees of a pension fund, directors of a listed company, lawyers and accountants who may be interested in working in the industry. It is also aimed at those who happily criticise hedge funds without really knowing what they do.
Guide to Hedge Funds
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`...excellent short guide...Coggan has the measure of the debate better than anyone I have read.'
-- Fund Strategy Magazine
`It really is what it says -- a quick and easy jargon-free guide to what [hedge funds] are, who they are, what they do and the arguments about whether or not what they do should worry us. If you cannot tell your statistical arbitrage from your managed futures and want to know more about the organisations that apparently account for about half the trading in the stock market, this is the book for you.'
-- Anthony Hilton - Evening Standard Financial Editor --This text refers to an out of print or unavailable edition of this title.
-- Fund Strategy Magazine
`It really is what it says -- a quick and easy jargon-free guide to what [hedge funds] are, who they are, what they do and the arguments about whether or not what they do should worry us. If you cannot tell your statistical arbitrage from your managed futures and want to know more about the organisations that apparently account for about half the trading in the stock market, this is the book for you.'
-- Anthony Hilton - Evening Standard Financial Editor --This text refers to an out of print or unavailable edition of this title.
From the Inside Flap
In 1990 hedge funds managed assets worth around $39 billion. At the peak in 2007 that figure had grown to a staggering $2 trillion. Equally staggering is the amount of money successful hedge fund managers earn—in 2008 the top 10 earned more than $10 billion between them. The returns hedge funds make can be substantial, as they should be, given the high fees they charge. But the losses can be substantial too—as some discovered during the credit crunch market upheaval that started in the summer of 2007.
Most people have heard of hedge funds but few are clear about what they are or what they do. The revised and updated second edition of this highly acclaimed guide deftly explains all you need to know about hedge funds in order to understand the nature of their business. Following an introduction there are six chapters:
Hedge fund taxonomy
The players
Funds–of–funds
Hedge fund regulation
Hedge funds: for and against
The future of hedge funds
And at the end of the book there is a glossary of terms used in association with hedge funds, together with a number of tables and charts showing hedge fund data over the years. --This text refers to an out of print or unavailable edition of this title.
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7 of 8 people found the following review helpful
By Rolf Dobelli
TOP 500 REVIEWER
Format:Hardcover
This brief handbook offers a concise, highly readable introduction to the controversial subject of hedge funds. Philip Coggan demystifies these complex, generally unregulated investment vehicles. He identifies the major hedge-fund investment styles, lists some of the most important hedge funds and explains how they work. He elucidates some of the darker corners of the hedge-fund world, providing one of the most comprehensible accounts yet written of its risks and regulatory challenges. getAbstract recommends this book to readers who have a basic acquaintance with the language and concepts of finance and investment, and who seek an unbiased, objective introduction to hedge funds.
http://www.getabstract.com/ShowAbstract.do?dataId=10467
http://www.getabstract.com/ShowAbstract.do?dataId=10467
By Jens
Format:Kindle Edition|Amazon Verified Purchase
Well-written, concise summary of what Hedge Funds are, what purpose they serve and where the industry might head. The book is easily understandable and gives a very good overview for anyone interested outside of financial services.
Note to Amazon: As of 1/2013 the cover page depicted on amazon.co.uk is incorrect - it shows the cover from a completely different book on Economics.
Note to Amazon: As of 1/2013 the cover page depicted on amazon.co.uk is incorrect - it shows the cover from a completely different book on Economics.
1 of 2 people found the following review helpful
By Mark Jewell
Format:Hardcover
Interesting enough book that kept me occupied on holiday. Would recommend specifically for someone new to hedge funds or someone who has little contact with the business side (e.g. in IT at a bank). I've passed on to colleagues to read
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