Can anyone recommend a good book for this?

Discussion in 'Professional Trading' started by lasner, Jul 15, 2008.

  1. lasner

    lasner

    Can anyone recommend a good book about how to manage a hedge fund? I know it sounds like a good a weird question but I'm somewhat of a professional trader with the hopes of starting a hedge fund.

    I want to learn more about them and how they operate and the process of running them.

    Thanks,
     
  2. Not so much about raising money, but quantitative metrics and measurement standards (or lack thereof), covered pretty well here.

    http://www.amazon.com/Hedge-Funds-Q...bs_sr_6?ie=UTF8&s=books&qid=1216160314&sr=8-6

    hedge funds and quantitative insights.

    If you have the metrics down, this would seem like a good follow-up on starting and running one.

    http://www.amazon.com/Fundamentals-Hedge-Fund-Management-Successfully/dp/0471748528/ref=pd_sim_b_14

    (I haven't read it, but I am fond of wiley finance books and this one gets very good reviews).
     
  3. mynd66

    mynd66

     
  4. I have this feeling the hedge fund industry bubble is about to burst. Too much wealth was generated for nothing. Good luck trying to raise money in the next year when you start hearing about all the blow ups that are coming down the line.
     
  5. heres the key:

    investment talent with a compelling story and returns

    distribution/marketing channels


    business management skills/talent at a high level



    meet these 3 things, you will succeed. fail at any one, and kiss success goodbye.

    dsg
     
  6. When Genius Failed...great read about LTCM...
    Hedge Hunters...not bad
    House of Money..awesome book...

    Good luck
     
  7. Disagree. It's all about talent/performance. If you have that, you can hire all the other stuff from professional executives.

    Trading/investment talent is scarce, marketing and business management talent is not. Just like quarterbacks don't need to know anything about contracts or investment - they can hire advisers to do that for them - so hedge fund managers don't need any marketing or operational ability, they can just hire slightly more expensive advisers/execs to do that.
     

  8. sure, if your well capitalized what you say is correct.

    try hiring top talent to work with a small fund, top talent is impossible to access without big bucks, benefits, etc. .

    competition is fierce in the hedge fund world now. guarantees, bonuses, benefits are demanded by top talent that is impossible for an undercapitalized fund to meet.

    doing all yourself, is the ONLY way for a start up manager to survive untill critical mass is met.

    surf
     
  9. I think luck is all you need really.
     
    #10     Jul 16, 2008