The Little Book of Hedge Funds: What You Need to Know about Hedge Funds, But the Managers Won't Tell You (Hardcover)

Foreword xi

Introduction: Anatomy of a Hedge Fund: The Password Is . . . xv

Chapter One What Is a Hedge Fund? The Traditional Long-Only Portfolio versus the Alternative Hedge Fund Portfolio 1

Chapter Two The Parlor Cars of the Gravy Train: The Long and the Short of It 29

Chapter Three Accessing the Inaccessible: From the Elite to Main Street 51

Chapter Four Heads We Win; Tails You Lose: Eating Your Own Cooking while Enduring Symmetrical Glories and Punishments 67

Chapter Five The Alpha Game: In Search of El Dorado 81

Chapter Six Ironing Out Inefficiencies: Exploiting the Efficient Market Theory 97

Chapter Seven A Balancing Act: Outperforming the Market while Taking Less Risk 117

Chapter Eight If You Can’t Beat ’Em, Join ’Em: Hedge Fund Manager Selection and Due Diligence 143

Chapter Nine The Men Behind the Curtains: Fund of Hedge Funds 169

Chapter Ten From Wall Street to Park Avenue: Setting Up Shop at the Hedge Fund Hotel 193

Conclusion: The Shape of Things to Come 215

Appendix: Due Diligence Questionnaire 223

Notes 229

Acknowledgments 233