So You Want to Start a Hedge Fund

Beschreibung

Only 305 hedge funds can claim to manage more than $1 billion, but the old guard is aging, and now one-third of the industry's assets are managed by firms with leaders older than 60. Great opportunities await hungry managers and allocators who know how to take it, and So You Want to Start a Hedge Fund offers a brilliantly revealing collection of lessons learned from the field aimed at giving fledgling funds a powerful competitive advantage to gain market share. The practical steps to starting a hedge fund are commoditized knowledge-but the subtleties of doing it right are exclusively contained inside. Culled from the everyday experiences of working with hundreds of hedge-fund startups over the past dozen years, this forward-thinking guide gives aspiring and small hedge-fund managers, as well as allocators to early-stage funds, an insider's look at how other principals have attracted capital, designed an investment strategy, delivered performance, built teams, and allocated assets-both profitably and shamefully. These intimate stories are masterfully organized to construct a reliable framework for launching a hedge fund with the greatest chance of success. Skilled and talented professionals who are driven to turn their ambitions into realities will keep this one-of-a-kind resource at their fingertips for its: * Firsthand insights into the opportunities and risks facing startups * Complete examinations of the common missteps that undo new managers * Comprehensive case studies illustrating patterns among winners and losers * The advantages and special considerations of managing and allocating to small funds There is no fixed formula to create a profitable hedge fund and success is never a foregone conclusion, but with So You Want to Start a Hedge Fund, you can rise above your competitors on the shoulders of those who came before you.
Helpful, Accessible Guidance for Budding Hedge Funds So You Want to Start a Hedge Fund provides critical lessons and thoughtful insights to those trying to decipher the industry, as well as those seeking to invest in the next generation of high performers. This book foregoes the sensational, headline-grabbing stories about the few billionaire hedge fund managers to reach the top of the field. Instead, it focuses on the much more common travails of start-ups and small investment firms. The successes and failures of a talented group of competitive managers--all highly educated and well trained--show what it takes for managers and allocators to succeed. These accounts include lessons on funding, team development, strategy, performance, and allocation. The hedge fund industry is concentrated in the largest funds, and the big funds are getting bigger. In time, some of these funds will not survive their founders and large sums will get reallocated to a broader selection of different managers. This practical guide outlines the allocation process for fledgling funds, and demonstrates how allocators can avoid pitfalls in their investments. So You Want to Start a Hedge Fund also shows how to: * Develop a sound strategy and raise the money you need * Gain a real-world perspective about how allocators think and act * Structure your team and investment process for success * Recognize the patterns of successful start-ups The industry is approaching a significant crossroads. Aggregate growth is slowing and competition is shifting away from industry-wide growth, at the expense of traditional asset classes, to market share capture within the industry. So You Want to Start a Hedge Fund provides guidance for the little funds--the potential future leaders of the industry.

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Ted Seides

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