Fundamentals of Hedge Fund Management

Updated edition of the book that gives investors, advisors, and
managers the tools they need to launch and maintain a hedge fund in
today's economy

The hedge fund industry has gone through dramatic changes in
recent years. Investors of all types continue to want to place
their assets into these investment vehicles even in the wake of the
credit crisis, massive frauds, and insider trading scandals. Once
the forbidden fruit of Wall Street, hedge funds are now considered
"must have" investments in any diversified portfolio. Now in its
second edition, The Fundamentals of Hedge Fund Management is
revised and updated to address how the credit crisis, legislation,
fraud, technology, investor demand, global markets, and the
economic landscape have affected the industry.

Providing readers with a detailed and in-depth analysis of the
world of hedge funds, the people working in it, and a look at where
it's headed, the book is a timely and indispensable reference and
research tool for helping professional money managers, traders, and
others to launch and grow successful hedge fund businesses.

• Addresses how the credit crisis and its fallout has affected
  the hedge fund industry and what this means for the future

• Provides the essential information needed to launch and
  maintain a successful hedge fund in the new global economy

• Walks the reader through running a hedge fund, helping you to
  gain success over years, not just months

An essential resource for anyone looking to invest in these
much-discussed investment products, The Fundamentals of Hedge
Fund Management, Second Edition is now fully revised and
updated.

Autorentext

DANIEL A. STRACHMAN is an expert in all aspects of investment management with more than sixteen years of Wall Street experience. He is nationally recognized as a strategist, futurist, and commentator on Wall Street, the economy, and investment strategy. Daniel specializes in providing strategic advice and counsel to companies that want to expand and prosper in both good and bad economic times. He has worked in product development, marketing, and sales focused in and around the money management industry. He is the author of several other books, including The Long and Short of Hedge Funds, Getting Started in Hedge Funds, Julian Robertson, and Essential Stock Picking Strategies, all published by Wiley.

Klappentext
How to Successfully Launch and Operate a Hedge Fund Long considered the exclusive realm of the rich and privileged, in recent years hedge funds have become a fixture of investment portfolios of all sizes. The industry is stronger than ever and primed for even greater growth, making now the perfect time to set up your own fund. The Fundamentals of Hedge Fund Management, Second Edition shows you how, bringing together everything you need to know to build, maintain, and reap the rewards of a high-performance hedge fund business. With over a decade of international experience consulting on hedge funds, author Daniel Strachman knows exactly what it takes to succeed in the industry. Packed with essential information on how to make good decisions when building and managing a fund, how to develop a marketing strategy that will help you raise assets, how to create an infrastructure to support your business, and much more, this is the only resource you need to launch and grow a successful hedge fund business, for yourself or your clients. Fully revised and updated to address recent developments, the book includes new and expanded coverage of how the credit crisis, legislation, fraud, technology, investor demand, global markets, and the economic landscape have affected hedge funds, giving you an up-to-date overview of the state of the industry, as well as information on what lies ahead. Written in a straightforward and accessible style and incorporating real-world examples, this second edition explains exactly what you need to do to build a hedge fund that will create and preserve wealth. The hedge fund industry is changing fast. Now more than ever, new and profitable opportunities are available to investors regardless of background. To make the most of them, you need a solid understanding of how the industry operates—and how to make it work for you. The Fundamentals of Hedge Fund Management, Second Edition does just that, providing you with the tools and techniques you need to start and sustain a hedge fund of your own.

Zusammenfassung
Updated edition of the book that gives investors, advisors, and managers the tools they need to launch and maintain a hedge fund in today's economy The hedge fund industry has gone through dramatic changes in recent years. Investors of all types continue to want to place their assets into these investment vehicles even in the wake of the credit crisis, massive frauds, and insider trading scandals. Once the forbidden fruit of Wall Street, hedge funds are now considered "must have" investments in any diversified portfolio. Now in its second edition, The Fundamentals of Hedge Fund Management is revised and updated to address how the credit crisis, legislation, fraud, technology, investor demand, global markets, and the economic landscape have affected the industry.

Providing readers with a detailed and in-depth analysis of the world of hedge funds, the people working in it, and a look at where it's headed, the book is a timely and indispensable reference and research tool for helping professional money managers, traders, and others to launch and grow successful hedge fund businesses.

• Addresses how the credit crisis and its fallout has affected the hedge fund industry and what this means for the future
• Provides the essential information needed to launch and maintain a successful hedge fund in the new global economy
• Walks the reader through running a hedge fund, helping you to gain success over years, not just months
  An essential resource for anyone looking to invest in these much-discussed investment products, The Fundamentals of Hedge Fund Management, Second Edition is now fully revised and updated.

Inhalt

Preface xi

Acknowledgments xiii

Chapter 1 The Hedge Fund Industry 1

Chapter 2 The Service Providers 23

Chapter 3 Hedge Fund Structures 41

Chapter 4 Hedge Fund Accounting 59

Chapter 5 ERISA, UBTI, and Offshore Funds 77

Chapter 6 Marketing and Capital Raising 91

Chapter 7 Why the Back Office Matters 113

Chapter 8 The Launch 127

Chapter 9 Perception versus Reality 141

Appendix a Hedge Fund Litigation 153

Appendix B Examples of Hedge Fund Structures 189

Resource Guide 199

Notes 205

Glossary 209

Bibliography 213

About the Author 217

Index 219