Getting Started in Hedge Funds

Rating:
Summary: Good basic book but lacks any depth for non-beginners
Review: I bought this book because of my desire to learn more about hedge funds. I thought there would be more detail about the functions and trading strategies and styles of the managers. I also thought there would be more detail as to what is required to start your own hedge fund. The book instead paints an overview of these areas and never delves beneath the surface.

The author is a journalist and it is evident in his writing style. Lots of quotes from hedge fund managers and anecdotes as though they came from short articles but not a lot of facts. Some parts look like cut and pastes of a series of articles he had written and were put together. I even found some pages where the same statement was made twice, thus enforcing my belief that different pieces were cut and paste together. (Editor's fault for not catching it)

Redeeming quality of the book is the fact that it does have direct information from hedge fund managers not usually availabel since the author was able to talk to many who never usually talk to the press. The stories do let the reader inside what hedge funds are and how they operate. Maybe too much focus on Long-Term Capital Management and Soros, who in my mind are the unique large hedge funds that do not reflect the average hedge fund that operates today. The gem of the book is the profile of 10 hedge fund operators. Very interesting to see the different personalities and backgrounds and paths each took to managing their own hedge funds.

If you want a nice overview or starter book in hedge funds, then for the price, this book does deliver and provides a great foundation. If you already are familiar with hedge funds and want more detail, I suggest you do your own research on the net where I found detailed papers put out by hedge fund associations on proper operation of hedge funds and detailed breakdowns of different types and managing styles. I printed them out for free and find more information then in the book I paid for.

Rating:
Summary: A good book for people who want to learn about Hedge Funds
Review: I have been looking for a book on hedge funds that is to the point, concise, easy to understand and grasp and I finally found it in Getting Started In Hedge Funds. The book provides a unique look at where hedge funds came from, how the industry evolved and gives insightful information about managers. The profiles are very interesting and provide a unique look at how money is managed. It is easy to read and worthwile for anyone who wants to learn more about these types of investment vehicles.

Rating:
Summary: Devoid of Substance
Review: Steer clear of this book. The writing sub-par and there is very little substance in this book. Getting Started in Hedge Funds reads much like a 200 page USA Today article.

The book is predominately a desultory history of the hedge fund industry and offers very little information about specific hedging strategies. Additionally, the bit of history that it does offer does not go beyond 1999. So we do not even get to see how the industry weathered the recession and 9/11 attacks.

Rating:
Summary: Basic Industry colour...and not much else
Review: The book is a very basic overview of hedge fund industry developments. It is important to note that the history stops at 1999 and that there have been a number of significant industry developments since then. As other reviewers have correctly pointed out, the most interesting aspect of the book is the short articles from fund managers who have started their own funds with as little as $1 million in assets under management.
For those seeking a greater insight into the risk management techniques employed by hedge funds, or the basic "How to's" of starting a fund....this is not the book for you.

Rating:
Summary: A Fantastic Book For The Beginner In Hedge Funds
Review: You've probably heard a lot about hedge funds, probably and mostly negative. This is great book for those who do not know much about hedge funds but want to have a more accurate understanding.

This book starts off by dispelling the notions that most hedge funds are high-risk-taking speculators and are responsible for economic crises. They are not. To this end, the author describes how hedge funds operate and gives a brief rundown.

My favourite section is Chapter 3 where the author interviews a variety and number of hedge fund managers from the famous to the not-so-famous. I found the different backgrounds and thinking styles of these hedge fund managers inspirational.

The book ends of by describing the demographics of various hedge fund investors.

All in all, I found this book to be a good introduction to the world of hedge funds. It concentrates on what the beginner needs to know and gives the beginner a good base to move on to more complex books on hedge funds.