All About Hedge Funds, Fully Revised Second Edition (All About... (McGraw-Hill))

This edition is based on the first edition by Robert Jaeger, which was published in 2003. I have not read the first edition.The book seems up to date. Of course, I am not that knowledgeable about hedge funds, and it was published in 2012, only two years ago. The treatment seems to be fairly comprehensive. The discussion is obviously a summary and overview, and lacks depth. The book discusses the CAPM and the efficient market hypothesis. It then goes on to say that the EMH has been refuted by behavioral economics. It mentions the work of Andrew Lo and Robert Shiller. All through the book talks about how institutional investors have come over to investing in hedge funds. The issue for institutional investors is not so much the absolute returns that hedge funds are known for. Rather, institutions may be more interested diversification and returns that are uncorrelated with the market, and protection against market shocks.The book was a nice introduction to hedge funds. The primary idea that I came away with is that hedge funds are able to take both long and short positions in market securities. Whereas, mutual funds are primarily long-only investors. Hedge funds, of course, are not subject to all the regulations and reporting requirements that constrain mutual funds.

Pretty good book. However there are a lot of typos throughout. Worst of all is that the graphs and charts are in black and white, so many of them cannot be interpreted since they were obviously meant to be in color (see pictures).

Great window on the world of Hedge Funds.History is there as well as an overview of most available strategies.

The book summarizes many Hedge Fund concepts really well. Great book.

Interesting & well written.

I LOVE THIS BOOK!

I personally found it almost impossible to understand.

A nice intro to hedge funds, pretty useful if you are new to investing and are looking to learn the basic strategies used by hedge funds. The explanations are easy to understand and the writing is clear. However, if you are a sophisticated investors who have some familiarity with hedge funds and want more technical or detailed explanations, this book may be a little light. Still, for a novice, this would make a nice guide. Some basic knowledge of finance concepts (market efficiency, etc.) is useful, but a newbie would not be overwhelmed by this book.

It goes into much detail for some concepts while skipping others.

I love this book. Great Author. All terms are well explained. Thanks and many many thanks. I look forward to more like this