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Getting Started in Hedge Funds: From Launching a Hedge Fund to New Regulation, the Use of Leverage, and Top Manager Profiles, Third Edition

Book Description

The book on hedge fund basics, completely updated to reflect today's post-crisis industry

The hedge fund industry has been reeling in the wake of recent Ponzi schemes and insider trading scandals as well as the loss of billions of dollars in assets under management due to fund closures. Getting Started in Hedge Funds, Third Edition focuses on the current state of the industry; how hedge funds did or did not survive the subprime and subsequent credit crisis; and, what the future holds for investors. Getting Started in Hedge Funds, Third Edition also provides readers with a brief overview of the industry's history, and describes the inner-workings of these complex investment vehicles, including how to start a hedge fund, and what new regulations means for managers and investors.

  • Profiles 10 highly successful hedge fund managers

  • Addresses the Madoff scandal, as well as other lesser known Ponzi schemes, and analyzes the ripple effect felt throughout the industry as a result of these and other scandals

Despite the performance of some of these funds in the last few years, hedge funds are here to stay. In this Third Edition, Getting Started in Hedge Funds, Strachman provides an updated "how-to" guide for investors interested in hedge funds in this era of "new normal."

Table of Contents

  1. Cover
  2. Series: Books in the Getting Started in Series
  3. Title Page
  4. Copyright
  5. Dedication
  6. Acknowledgments
  7. Introduction
    1. Why Hedge Funds Now and Forever?
  8. Chapter 1: Hedge Fund Basics
    1. The Near Collapse of Long-Term Capital Management
    2. The Credit Crisis and Hedge Funds
    3. A Brief History of Hedge Funds
    4. The Current State of the Hedge Fund Industry
    5. Alfred Winslow Jones—The Original Hedge Fund Manager
  9. Chapter 2: How Hedge Funds Operate
    1. Starting a Hedge Fund
    2. Hedge Fund Regulations and Structures
    3. How Hedge Funds Use Leverage
    4. Patriarchs of the Hedge Fund World
    5. Hedge Funds Take All the Heat
    6. George Soros—The World's Greatest Investor
  10. Chapter 3: The Managers
    1. Guy Wyser-Pratte—Wyser-Pratte
    2. Bill Michaelcheck—Mariner Investment Group
    3. Nancy Havens—Havens Advisors LLC
    4. Steve Cohen—SAC Capital
  11. Chapter 4: Hedge Fund Investing
    1. The Role of an Investment Adviser
    2. An Institutional Investor
    3. Third-Party Marketers
    4. An Individual Investor
    5. A Consulting Firm
    6. A Manager of Managers
  12. Conclusion
  13. Appendix A: Hedge Fund Strategies
  14. Appendix B: Example of Material Included in an Onshore Document
    1. Overview
    2. Important General Considerations
    3. Summary of Offering and Partnership Terms
    4. Management
  15. Appendix C: Example of Material Included in a Cayman-Based Fund for Tax-Exempt US-Investors
    1. Part 1: Establishing an Offshore Fund Domiciled in the Cayman Islands
    2. Part 2: Summary of Key Disclosures for Cayman Islands Offering Document
  16. Glossary
  17. Notes
    1. Introduction
    2. Chapter 1 Hedge Fund Basics
    3. Chapter 2 How Hedge Funds Operate
  18. About the Author
  19. Index