How to Create and Manage a Hedge Fund: A Professional's Guide

by Stuart A. McCrary

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Editorial Reviews
Product Description

Includes trading examples that illustrate points about risk management and leverage.
Presents all the practical knowledge necessary to run a leveraged investment company.
Non-technical explanations brings an element of transparency to a part of the investment world often thought of as difficult to understand.

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All Customer Reviews
Average Customer Review: 3 out of 5 stars

0 of 1 people found the following review helpful:

3 out of 5 stars

Still need a lawyer, 2007-03-08
Tells you everything you need to know; however you will still need a good lawyer to set you up properly. I bought the book first, and then still spent tens of thousands of dollars to set up my fund.

2 of 2 people found the following review helpful:

3 out of 5 stars

Appropriate for beginners, 2006-09-18
While I wasn't expecting much, from reading the mediocre reviews posted here, I was surprised to find fairly decent amount of valuable information in the book, albeit for a novice in the hedge fund world.

For instance, the structure of a hedge fund was explained to me by one of the best lawyers who specializes in setting up hedge funds, here on the west coast. The charts that were used in the book mirrored the thoughts of the lawyer.

Within the last 2 years, the industry has changed drastically and quickly that some issues/rules/regulations are outdated. I would recommend this book for the reader who is looking at a hedge fund for the very first time.

4 of 4 people found the following review helpful:

3 out of 5 stars

Who's this book for?, 2006-07-19
I share the view that if you're searching for investing techniques you're really looking in the wrong place (and maybe you should learn to use the "search inside" feature on top of the page...); my point however is that I can't see who's this book targeted for: if you're an experienced professional looking to strike out on you're own you won't discover anything you didn't already know, if you're so naive that you'll be learning something new then, as another reviewer put it so well, you shouldn't be managing money in the first place.
I'd like to add however that it's nice to see an effort to write something about start-ups in the HF industry, given the massive amount of traders and managers hungry for information on how to get their piece of this 1 trillion dollars cake: maybe someone will fill the void in the future.

9 of 14 people found the following review helpful:

1 out of 5 stars

Where's the beef?, 2005-08-24
I'm not sure what Stuart was attempting to do with this book, but certainly the title was misleading. I found the book to be largely useless and I'm surprised he has authored another book on the topic.

13 of 14 people found the following review helpful:

3 out of 5 stars

Another college textbook, 2005-06-28
For those readers interested in running money through a hedge fund this is an okay book. (Note: For those interested in running money through a mutual fund, I recommend Start a Successful Mutual Fund by Melinda Gerber.)

Mr. McCrary's book discusses broad topics about the industry but also covers some things that can be learned better from a specialty book about marketing or business plan writing. It does not mention how hedge funds are getting into private equity, prime brokers, Sarbanes-Oxley, or the Anti-Money Laundering Act. It is also weak on specific details about how to run a fund day-to-day.

In general the book reminded me of a college textbook. It is most valuable to anyone who wants a good beginning knowledge of hedge funds.

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