The Fundamentals of Hedge Fund Management: How to Successfully Launch and Operate a Hedge Fund (Wiley Finance)

In The Fundamentals of Hedge Fund Management, both budding and established hedge fund managers will learn the fundamentals of building and maintaining a successful hedge fund business. Strachman presents the facts in an accessible and easy-to-use format that will empower readers to create a lasting fund that provides significant income for years to come. The Fundamentals of Hedge Fund Management provides information on everything from picking a lawyer to creating a fund's documents to determining what markets attract investors. Readers will glean valuable information from real-life experiences (both negative and positive) that have shaped and continue to guide many of today's leading and most respected funds.

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All Customer Reviews
Average Customer Review:
0 of 4 people found the following review helpful:

Great Book, Makes it as easy as 1, 2,3, 2008-04-14
This is the email I sent the author: Hi Daniel, I am currently reading... It is superbly written. When I read to learn, I tend to highlight key points or what I call the "meat". I find myself highlighting nearly everything. I find it to be succinct, informative, and practically all "meat". Thank you so much for taking the time to intelligently write such a straight-forward practical guide to launching a hedge fund.
What puts this work over the top is the author's graciousness in answering any questions I've had since reading the book. Great Book, Great Guy!


25 of 28 people found the following review helpful:

Waste of time...marketing brochure for his other services, 2007-12-19
This book is the hedge fund equivalent of late night schemers who sell you expensive guides to tell you how to get rich...and then refers you to hire other professionals and to hire his services.

This book has small amounts of useful information (short descriptions of what various service providers do, very basic legal structures, etc) that could be conveyed in 15 pages (not 141 of repetitive, rah rah fluff). It is just a thinly veiled marketing brochure for the author's other hedge fund "services".

There isn't even a proper description of the author's background or what he's proposing to sell, other than repeated reference to go to his website or email him about every basic piece of information that should be included in the book in the first place. Given the repetitive fluff in the book, he had plenty of space to include all this basic reference material...why didn't he???? why did we pay over 50usd to buy this book???

also the author is clearly not a sophisticated investor. he places proper importance to fund raising, but flat out states that generating alpha is very easy...i don't even know where to begin to mock his attitude. he's giving you advice in a know-it-all, absolutist fashion as if he's done it all, but frankly he runs a newsletter, and provides consulting services which no hard core hedge fund investor whose stated goal is to maximize his income would waste their time on.

Get Fabozzi's Handbook of Alternative Assets instead...much more detailed and useful.


2 of 3 people found the following review helpful:

Easy and informational, 2007-11-21
This book provides a good overview of hedge funds, but not in enough detail to start a fund. If you are doing research to see how funds work, or if being a fund manager is for you, this is a good reference.


13 of 14 people found the following review helpful:

Lots of stuff not covered in other books, but very US onshore centric, 2007-10-23
This book is the first one that I've run into that covers the legal and operation aspects of hedge funds - lawyers, administrators, accountants, and what they all do. It covers a lot of subtle but hugely important topics such as ERISA and new issues regulations, patriot act considerations, master-feeder structures and so forth. These are topics that I've not seen elsewhere despite a lot of reading on the sector. There are also a lot of specific companies, names, web addresses, places to go for information, etc. I have been working in London for four years in the hedge fund operations industry, and I did learn some important and useful things that people never tell you.

The book is written a conversationally so it is easy to read, but as a result is somewhat disorganised and mentions new subjects somewhat casually. I would have preferred a more structured approach, where each term is defined with more rigour. Much of the book (perhaps 35%) contains advice about having to deal with being an entrepreneur - finding an office, dealing with assistants - which are hedge-fund startup issues but which are not hedge fund legal/regulatory issues that I was looking for.

The major problem with this book as far as I am concerned is that while the US onshore industry is large, it is still much less than half of the industry. Offshore considerations are covered but more as an afterthought. Corporations, for example are completely left out, and large players such as Citco, the largest hedge fund administrator in the world, is not ever mentioned.

I would also recommend the Handbook of Alternative Assets by Mark Anson, which is sort of the gold standard in the field.


0 of 1 people found the following review helpful:

The Fundamentals of Hedge Fund Management: How to Successfully Launch and Operate a Hedge Fund , 2007-10-11
Great Book...Must read if your starting a Hedge Fund. Got a Library copy and then bought my own as an ongoing resource. Provides check list for what needs to be done and who to contact.

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