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Guide to Hedge Funds: What They Are, What They Do, Their Risks, Their Advantages (Economist)by Philip Coggan
Synopses & Reviews
A comprehensive guide to the often misunderstood, high yielding enterprise
Today, most people have heard the term "hedge fund," the investment fund that manages more than $2 trillion in assets, but few are clear about what exactly a hedge fund is or what it does. This guide aims to put them in the know.
Designed as a one-stop resource to everything about hedge funds, Guide to Hedge Funds provides a succinct survey of the industry for all those who think they should have some knowledge of this investment vehicle.
Written in the accessible and easy-to-understand prose for which The Economist is so highly regarded, this lively and clear guide sheds much-needed light on the world of hedge funds.
Book News Annotation:
This slim guide provides a concise overview of hedge funds--what they are, what they do, who hedge fund managers are, regulations in the UK and US, arguments for whether they are good or bad, and trends for the future. Profiles of specific companies are highlighted. Formerly an investment editor at the Financial Times, Coggan currently writes for The Economist. Annotation ©2008 Book News, Inc., Portland, OR (booknews.com)
Hedge funds are a vastly influential part of the financial system today. Anyone interested in how the financial system works has to grapple with hedge funds' role in the system.
This lively and admirably clear guide sheds much needed light on the world of hedge funds by explaining what they are, what they do, who the main players are, the regulations affecting them, the arguments as to whether they are a force for good or bad, and what the future holds for them. "More people have a view about hedge funds than know about them. Philip Coggan bridges the knowledge gap in this clearly written guide.Every chapter is a gold mine of information and analysis, making it easy to learn about hedge funds. No investor, no investment adviser, no trustee, no dinner-table conversationalist should express opinions on the sector until they have read this book." --Elroy Dimson BGI Professor of Investment Management, London Business School
In 1990 hedge funds managed assets worth around $39 billion. By mid-2007 that figure had grown to a staggering $1.7 trillion. Equally staggering is the amount of money successful hedge fund managers earn--in 2006 the top 25 earned more than $14 billion among them. The returns hedge funds make can be substantial, as they should be, given the high fees they charge. But the losses can be substantial too--as some discovered during the credit crunch market upheaval that started in summer 2007. Most people have heard of hedge funds but few are clear about what they are or what they do. This guide, written by a leading financial journalist, deftly explains all you need to know about hedge funds in order to understand the nature of their business. Following an introduction, six chapters cover: Hedge fund taxonomy, The players, Fund-of-funds, Hedge fund regulation, Hedge funds: for or against, and The future of hedge funds. At the end of the book there is a glossary of terms used in association with hedge funds, together with a number of tables and charts showing hedge fund data over the years.
About the Author
Philip Coggan writes the Buttonwood column for The Economist, where he is also capital markets editor. Previously, he worked at the Financial Times for twenty years, latterly as investment editor. He is also the author of The Money Machine and How the City Works (Penguin) and Easy Money (Profile Books).
Table of Contents
1 Hedge fund taxonomy.
2 The players.
4 Hedge fund regulation.
5 Hedge funds: for and against.
6 The future of hedge funds.
Appendix: Hedge fund facts and figures.
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