Getting Started in Hedge Funds: From Launching a Hedge Fund to New Regulation, the Use of Leverage, and Top Manager Profiles, Third Edition

Acknowledgments

The idea for the first edition of this book came to me in the mid-1990s while I was working at Cantor Fitzgerald and, as a result of a number of unique events, that book became a reality in January of 2000. Now some ten years later, Wiley is publishing a third edition.

I started working on this revision in December 2009, and over the past four or five months, I have tried to update the pages of this book to make it as relevant as possible for those interested in learning more about hedge funds and the hedge fund industry. I hope that you, the reader, find it worthwhile and, more importantly, worthy of your time. Your interest in hedge funds has made this book possible, and I thank you very much for your pursuit of this fascinating subject.

Like it or not, hedge funds are here to stay. As an investment vehicle they are no longer considered an alternative investment but rather an important investment in a diversified portfolio. And although hedge funds have not yet become traditional, in the months and years ahead I believe that the differences that separate traditional investment funds or mutual funds and hedge funds are going to become smaller and smaller. Hedge funds, no matter what the people in Washington say or the popular press writes, are not going anywhere because people understand the value of creating a portfolio that is hedged against market volatility and provides an opportunity to make money regardless of which way the market is moving. Hedge funds ...