AARP Getting Started in Hedge Funds
From Launching a Hedge Fund to New Regulation, the Use of Leverage, and Top Manager Profiles
3rd Edition
Published on 12. December 2011
186 pages
978-1-118-24172-1 (ISBN)
Description
AARP Digital Editions offer you practical tips, provensolutions, and expert guidance.
The hedge fund industry has been reeling in the wake of recentPonzi schemes and insider trading scandals as well as the loss ofbillions of dollars in assets under management due to fundclosures. Getting Started in Hedge Funds, Third Editionfocuses on the current state of the industry; how hedge funds didor did not survive the subprime and subsequent credit crisis; and,what the future holds for investors. Getting Started in HedgeFunds, Third Edition also provides readers with a briefoverview of the industry's history, and describes theinner-workings of these complex investment vehicles, including howto start a hedge fund, and what new regulations means for managersand investors.
* Profiles 10 highly successful hedge fund managers
* Addresses the Madoff scandal, as well as other lesser knownPonzi schemes, and analyzes the ripple effect felt throughout theindustry as a result of these and other scandals
Despite the performance of some of these funds in the last fewyears, hedge funds are here to stay. In this Third Edition,Getting Started in Hedge Funds, Strachman provides anupdated "how-to" guide for investors interested in hedge funds inthis era of "new normal."
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Daniel A. Strachman
AARP Getting Started in Hedge Funds
From Launching a Hedge Fund to New Regulation, the Use of Leverage, and Top Manager Profiles
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3rd Edition
Wiley
€39.80
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Content
Acknowledgments viii
Introduction
Why Hedge Funds Now and Forever? xi
Chapter 1 Hedge Fund Basics 1
The Near Collapse of Long-Term Capital Management 4
The Credit Crisis and Hedge Funds 13
A Brief History of Hedge Funds 17
The Current State of the Hedge Fund Industry 21
Alfred Winslow Jones--The Original Hedge Fund Manager24
Chapter 2 How Hedge Funds Operate 33
Starting a Hedge Fund 36
Hedge Fund Regulations and Structures 53
How Hedge Funds Use Leverage 62
Patriarchs of the Hedge Fund World 62
Hedge Funds Take All the Heat 66
George Soros--The World's Greatest Investor 68
Chapter 3 The Managers 71
Guy Wyser-Pratte--Wyser-Pratte 74
Bill Michaelcheck--Mariner Investment Group 80
Nancy Havens--Havens Advisors LLC 85
Steve Cohen--SAC Capital 89
Chapter 4 Hedge Fund Investing 95
The Role of an Investment Adviser 98
An Institutional Investor 99
Third-Party Marketers 103
An Individual Investor 105
A Consulting Firm 108
A Manager of Managers 111
Conclusion 117
Appendix A Hedge Fund Strategies 121
Appendix B Example of Material Included in an OnshoreDocument 125
Overview 125
Important General Considerations 128
Summary of Offering and Partnership Terms 130
Management 146
Appendix C Example of Material Included in a Cayman-BasedFund for Tax-Exempt Investors 149
Part 1: Establishing an Offshore Fund Domiciled in the CaymanIslands 149
Part 2: Summary of Key Disclosures for Cayman Islands OfferingDocument 154
Glossary 161
Notes 171
About the Author 175
Index 177
