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The Investor's Guide to Hedge Funds

The Investor's Guide to Hedge Funds

Sam Kirschner, Eldon C. Mayer, Lee Kessler

ISBN: 978-0-470-04854-2

Nov 2006

256 pages

Select type: E-Book



"Eldon Mayer is a battle-tested pro. You should listen to what he and his partner, Sam Kirschner, have to say."
--Barton M. Biggs, Managing Partner, Traxis Partners

Meet the crème de la crème of the new breed of hedge fund managers, learn how they evaluate world financial markets, hear about their winners and losers, and discover how they apply proprietary strategies to stay ahead of the curve. Through broad-scope interviews with 15 highly successful managers, The Investor's Guide to Hedge Funds provides unparalleled insight into each major hedge fund strategy, its strengths, weaknesses, and performance characteristics. Most importantly, this book shows that despite the sensational headlines, adding hedge funds to a portfolio of stocks and bonds can reduce risk and improve overall performance.

Foreword John Mauldin.


CHAPTER 1. The Case for Hedge Funds.

CHAPTER 2. The Directional Strategies: Equity Long/Short.

Interview: Craig Colberg, Rivanna Partners, LP.

CHAPTER 3. The Directional Strategies: Managed Futures.

Interview: Michael P. Dever, Brandywine Diversified Futures Program.

CHAPTER 4. The Directional Strategies: Global Macro.

Interview: Peter Thiel, Clarium Capital Management.

CHAPTER 5. The Event-Driven Strategies: Merger Arbitrage, Special Situations.

Interview: Mickey Harley, Mellon HBV Alternative Strategies, LLC.

CHAPTER 6. The Event-Driven Strategies: Distressed Securities.

Interview: Rob Petty, Clearwater Capital Partners Opportunities Fund.

CHAPTER 7. The Relative Value Arbitrage Strategies: Equity Market Neutral.

Interview: John Schmitz, SciVest Capital Management.

CHAPTER 8. Convertible Arbitrage.

Interview: Peter deLisser, Sage Capital.

CHAPTER 9. Fixed Income Arbitrage.

Interview: Michael “Boris” Pasternak, Pinewood Credit Markets, LP.

CHAPTER 10. The Newer Strategies.

CHAPTER 11. The Search for Alpha.

CHAPTER 12. Funds of Hedge Funds.

Interview: Matthew Hoffman, Mayer & Hoffman Capital Advisors, LLC.

CHAPTER 13. Due Diligence Best Practices.

Interview: Terry Bilkey, BilkeyKatz Investment Consultants.

EPILOGUE What’s Ahead for Hedge Funds?

APPENDIX A: Directory of Interviewees.

APPENDIX B: Qualitative Due Diligence Scorecard.

APPENDIX C: Quantitative Due Diligence Scorecard.

APPENDIX D: Major Hedge Fund Databases and Indices.

APPENDIX E: Hedge Fund Industry Web Sites and Publications.



About the Authors.