Introduction
VISIONS OF WEALTH AND EXCLUSIVITY conjured by hedge funds have captured the imagination of investors for many years. Bold wagers taken with large sums of capital, rumors of fortunes gained and lost, global markets and even sovereign nations shaken by extremes of overleveraged finance—all are part of hedge fund mythology, but not indicative of the reality of hedge funds available to investors.
The aim of this book is to get beyond the hazy popular conceptions of hedge funds and to familiarize the prospective investor with the fundamentals of investing in hedge funds through what is called a fund of funds (FOF), an entity that pools capital from multiple investors and invests in two or more hedge funds.
Hedge funds have rightly gained ...
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