The Prudent Investor's Guide to Hedge Funds: Profiting from Uncertainty and Volatility

by James P. Owen

• ISBN13: 9780471436737
• ISBN10: 0471436739
• Format: eBook
• Copyright: 2001-05-01
• Publisher: Wiley

Summary

Hedge funds are typically thought of as highly risky investments. Not so. In fact, some hedge funds are among the most conservative investments you can make. While speculative, high-flying hedge funds make the headlines, others quietly go about the work of crafting unique investment strategies and hedging portfolios against market risk. This much-needed book shows why affluent investors who want to be financially secure through retirement should know about hedge funds. Its blend of facts, practical tips, and personal insights takes the mystery out of this often misunderstood investment vehicle and reveals the critical questions to ask before you invest. James P. Owen (Santa Barbara, CA) has more than 30 years of experience in the investment management industry and is Senior Vice President of Broadmark Asset Management. Previously he was President of JPO Inc. and a partner with NWQ Investment Management Company. He is co-founder of the Investment Management Consultant s Association (IMCA); author of the financial bestseller, The Prudent Investor: The Definitive Guide to Professional Investment Management; and was associate producer of the PBS television series,Beyond Wall Street: The Art of Investing

Table of Contents

Acknowledgments	ix
Preface	xi
Part I Why Conservative Investors Should Know about Hedge Funds	1	(46)
What's Wrong with Traditional Money Management?	3	(10)
How Did Investment Management Go Astray?	13	(20)
The Growing Appeal of Alternative Investments	33	(14)
Part II What Hedge Funds Have to Offer	47	(82)
What Exactly Is a Hedge Fund, Anyway?	49	(24)
A Look at Hedge Fund Performance	73	(18)
Narrowing the Field: ``The Big Four'' Strategies	91	(18)
Is There a Hedge Fund Strategy for All Seasons?	109	(20)
Part III Making Hedge Fund Investments	129	(102)
Investing in Hedge Funds---How Much?	131	(14)
Tapping into the Wealth of Resources	145	(20)
Selecting a Hedge Fund That's Right for You	165	(22)
Getting Comfortable with the Terms of the Deal	187	(18)
Staying on Top of Your Investment	205	(26)
Closing Thoughts	221	(10)
Index	231