Ok, this is basically a simple book on the fundamentals of hedge fund. For those who know nothing about managing hedge fund, this book serves as a good introduction. It gives you a basic outline of everything you need to do to start and run a hedge fund.
I personally love the chapter of "Marketing" and the chapter of "Perception versus Reality". One statement in that chapter of "Marketing" clearly pointed out the real situation in real life: "In terms of getting assets, 1. the people you think will give you likely won't. 2. the people who you will never imagine in a million years giving you money might be where you get the money from." Interesting fact, right? On the chapter of "Perception versus Reality", the case studies provided are really some great stuff to ponder about... After all, managing a fund is not really as easier as many peoples think...
My only criticism of the book is that it is slightly out-dated. Those who follow hedge fund regularly will realize that certain rules were changed ever since this book was published. As such, readers might be confused with certain regulations as mentioned in the book. My advice is... check through with respective parties if you have doubts. After all, this is a book published in year 2007. Hence, out-dated issues are something unavoidable.
Overall, this is a nice book to explore. Although simple... but details enough for newbies. I will recommend this book for beginners. However, for those intermediate or advance levels, perhaps this is not the best choice of resources. As such, "intermediate" reader like me only rates this book at 5/10. Nice book, easy to digest but too simple in my humble opinion...
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