All About Hedge Funds, Fully Revised Second Edition (All About... (McGraw-Hill)) Paperback – Illustrated, February 14, 2013

This edition is based on the first edition by Robert Jaeger, which was published in 2003. I have not read the first edition.The book seems up to date. Of course, I am not that knowledgeable about hedge funds, and it was published in 2012, only two years ago. The treatment seems to be fairly comprehensive. The discussion is obviously a summary and overview, and lacks depth. The book discusses the CAPM and the efficient market hypothesis. It then goes on to say that the EMH has been refuted by behavioral economics. It mentions the work of Andrew Lo and Robert Shiller. All through the book talks about how institutional investors have come over to investing in hedge funds. The issue for institutional investors is not so much the absolute returns that hedge funds are known for. Rather, institutions may be more interested diversification and returns that are uncorrelated with the market, and protection against market shocks.The book was a nice introduction to hedge funds. The primary idea that I came away with is that hedge funds are able to take both long and short positions in market securities. Whereas, mutual funds are primarily long-only investors. Hedge funds, of course, are not subject to all the regulations and reporting requirements that constrain mutual funds.

The book summarizes many Hedge Fund concepts really well. Great book.

Pretty good book. However there are a lot of typos throughout. Worst of all is that the graphs and charts are in black and white, so many of them cannot be interpreted since they were obviously meant to be in color (see pictures).

Great window on the world of Hedge Funds.History is there as well as an overview of most available strategies.

I LOVE THIS BOOK!

Interesting & well written.

I personally found it almost impossible to understand.

I purchased this book and found that the definition of an accredited investor was incorrect. I am now skeptical about other information in the book. I cannot recommend the book.