Hedge funds have made headlines in two ways over the past year with the second being a consequence of the first. Reported incomes and bonuses for hedge fund employees were substantial for the year 2006, which raised eyebrows and questions about the role of hedge funds in the American economy. The large numbers have served to interject hedge funds into the debate between the presidential candidates, which unfortunately tends to murk the issues regarding what hedge funds actually do. This book will not help in de-murking those issues, as it contains no analysis of the role that hedge funds play in the modern economy. Rather, it is a series of brief biographies of some of the major funds and their managers. If you are interested in learning about these people, then you will find it a fascinating book. However, if your goal is to learn anything beyond their exterior and superficial investing strategies, which you could find in a fund prospectus, then you will be disappointed. Interesting in the personal sense, yet dull and repetitive in the macroeconomic sense, this book is one where your response will depend almost totally on your interests. There is nothing about whether hedge funds serve a positive role in the modern economy or are just another tool for the wealthy to gain more wealth. If your interest is in the background and personalities of the major players in the hedge fund game, then I strongly recommend it.
Although the author provides rare access to the thinking of 25 hedge fund great, she often misses the mark. Hedge Fund managers are notorious for high returns and low profiles. Katherine Burton, who covers the hedge fund industry for Bloomberg News, provides the reader with access to these legends, but often fails to plumb the depths of their thinking. The book is well-written. But I do not particularly care that the manager has boyish good-looks, … more
Charlie Ashbacher is a compulsive reader and writer about many subjects. His prime areas of expertise are in mathematics and computers where he has taught every course in the mathematics and computer … more
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