No credit card required
Foreword by Thomas Schneeweis
Introduction by David Brown
PART ONE: A Primer on Hedge Funds
CHAPTER 1: The Market Goes Up Forever?: The Paradox of Long-Term Investing
Flaws of Long-Term Investing
Wealth-Reducing Effects of Volatility
Diversification to Reduce Risks
Long-Term Investing with Low-Correlations Assets and Downside Protection
CHAPTER 2: It's the Risk, Not the Return: Using Hedge Funds to Reduce Portfolio Risks
Not Necessarily Higher Returns
Consistency of Returns
Low Correlation with the Stock Market
Portfolio Effects of Hedge Funds
Alternative Investments in Uncertain Markets
Prospective Long-Term Returns and Risks of Stocks
CHAPTER 3: Going for the Gold: Growth and Strategies of Hedge Funds
Size of the Hedge Fund Industry
Investors in Hedge Funds
What Are Hedge Funds?
Hedge Fund Strategies
Performance of Hedge Funds
PART TWO: Evaluating and Selecting Hedge Funds
CHAPTER 4: The Skewed Statistics of Hedge Fund Returns: Past Results Are Not Necessarily Indicative of Future Performances
Perception of Risks: Numbers and Reality
Gaming the Sharpe Ratio
Alpha: Holy Grail or Wizard of Oz?
Returns of Hedge Funds Revisited
Benefits of Hedge Funds Revisited
CHAPTER 5: Evaluating Hedge Fund Strategies
Is It Uncorrelated, Really?
How Neutral Is Market Neutrality?
Market Risks of Hedge Fund Strategies
Leverage and Hedge Fund Returns
Low Correlations: The Good and the Poor
CHAPTER 6: Picking the ...