As hedge funds continue to accelerate as widely-employed investment vehicles, understanding the agreements that establish, define and protect them is essential for all parties involved. In Hedge Fund Agreements Line by Line, (italicize title) legal and investing expert Greg Nowak takes a standard operating agreement, itemizing and explaining all parts of the venture. From incorporating a company to liquidating assets and dissolving the partnership, covering everything from the role and distinct responsibilities of the Manager, to all critical points around capital contributions, the admission of new members and permissible withdrawal of capital, this book is an informative and insightful read indispensable for any Hedge Fund Manager. With a standard operating agreement included in the text, coupled with extensive commentary and detailed explanations, this book offers a swift yet informative read on all legal aspects of incorporating and governing this increasingly popular investment vehicle.

Managers and sponsors of hedge funds and funds of funds commission the creation of disclosure documents to explain their products and minimize their personal risk exposure. These disclosure documents can be descriptive, but often end up being dense and opaque. Industry convention and the anti-fraud provisions of the securities laws govern how these documents are prepared. The more opaque the disclosure document is, the less likely the disclosure document will adequately describe the plan, the purposes, and the risks of investment, and accomplish the legal objective of true, complete, and accurate disclosure. Recent market retrenchment, beginning with the credit crisis in 2008, tested hedge fund disclosures like no time in the recent past.This second edition of Hedge Fund Disclosure Documents Line by Line capitalizes on this recent economic trauma by rewriting and expanding the fund disclosure to address modern hedge fund risks, while at the same time providing the user with a useful guide to the intricacies of the issues presented by the contemporary investment environment.

The entrepreneur, angel investor, and bestselling author of Choose Yourself busts the 10,000-hour rule of achieving mastery, offering a new mindset and dozens of techniques that will inspire any professional—no matter their age or managerial level—to pursue their passions and quickly acquire the skills they need to succeed and achieve their dreams. We live in a hierarchical world where experience has traditionally been the key to promotion. But that period is over! Straight, clear-cut career trajectories no longer exist. Industries disappear, job descriptions change, and people’s interests and passions evolve. The key to riding this wave, entrepreneur James Altucher advises, is to constantly be curious about what’s next, to be comfortable with uncertainty so you can keep navigating the rough waters ahead, and most important, to pursue the things that interest you. In Skip the Line, he reveals how he went from struggling and depressed to making his personal, financial, and creative dreams come true, despite—and perhaps due to—his many failures along the way. Altucher combines his personal story with concrete—and unorthodox—insights that work. But Skip the Line isn’t about hacks and shortcuts—it’s about transforming the way you think, work, and live, letting your interests guide your learning, time, and resources. It’s about allowing yourself to do what comes naturally; the more you do what you love, the better you do it. While showing you how to approach change and crisis, Altucher gives you tools to help easily execute ideas, become an expert negotiator, attract the attention of those around you, scale promising ideas, and improve leadership—all of which will catapult you higher than you ever thought possible and at a speed that everyone will tell you is impossible.

Successful hedge fund investing begins with well-informed strategy A Guide to Starting Your Hedge Fund is a practical, definitive "how-to" guide, designed to help managers design and launch their own funds, and to help investors select and diligence new funds. The first book to examine the practical aspects of setting up and operating funds with a focus on energy commodity markets, this book scrutinises the due diligence process and comprehensively reviews the opportunities and risks of all energy commodity markets as hedge fund investments. Extensive planning and strategy advice prove invaluable to prospective fund managers and investors alike, and detailed discussion of the markets' constraints help inform procedural decisions. Readers gain insight into practical matters including legal and commercial structures, due diligence, fund raising, operations, and more, allowing them to construct a concrete investment plan before ever touching a penny. Asset managers are looking to energy commodities to provide attractive uncorrelated – if volatile – returns. These high returns, however, are accompanied by high risk. Few investors have experience evaluating these investment opportunities, and few prospective fund managers understand the market fundamentals and their associated risks. This book provides the answers sorely lacking in hedge fund literature, giving investors and fund managers the background they need to make smarter decisions. Understand the markets' structures, opportunities, and risks Develop a comprehensive, well-informed investment strategy Conduct thorough due diligence with a detailed plan Examine the practical aspects of fund raising, legal and tax structure, and more Oil has long been traded by hedge funds, but electricity, the fuels that generate electricity, and the environmental products like emissions allowances and weather derivatives have become the new "hot" investment strategies. These high returns come with higher risk, but A Guide to Starting Your Hedge Fund ensures participants have essential information at their disposal.

This authoritative resource surveys federal securities laws and rules applicable to the organization, capitalization and operations of private U.S. domestic investment partnerships that invest and trade mainly in the public securities markets. Includes a detailed index.

The hedge fund industry has grown dramatically over the last two decades, with more than eight thousand funds now controlling close to two trillion dollars. Originally intended for the wealthy, these private investments have now attracted a much broader following that includes pension funds and retail investors. Because hedge funds are largely unregulated and shrouded in secrecy, they have developed a mystique and allure that can beguile even the most experienced investor. In Hedge Funds, Andrew Lo--one of the world's most respected financial economists--addresses the pressing need for a systematic framework for managing hedge fund investments. Arguing that hedge funds have very different risk and return characteristics than traditional investments, Lo constructs new tools for analyzing their dynamics, including measures of illiquidity exposure and performance smoothing, linear and nonlinear risk models that capture alternative betas, econometric models of hedge fund failure rates, and integrated investment processes for alternative investments. In a new chapter, he looks at how the strategies for and regulation of hedge funds have changed in the aftermath of the financial crisis.

Over the last 20 years hedge funds and derivatives have fluctuated in reputational terms; they have been blamed for the global financial crisis and been praised for the provision of liquidity in troubled times. Both topics are rather under-researched due to a combination of data and secrecy issues. This book is a collection of papers celebrating 20 years of the Journal of Derivatives and Hedge Funds (JDHF). The 18 papers included in this volume represent a small sample of influential papers included during the life of the Journal, representing industry-orientated research in these areas. With a Preface from co-editor of the journal Stephen Satchell, the first part of the collection focuses on hedge funds and the second on markets, prices and products.

For readers of The Smartest Guys in the Room and When Genius Failed, the definitive take on Brian Hunter, John Arnold, Amaranth Advisors, and the largest hedge fund collapse in history At its peak, hedge fund Amaranth Advisors LLC had more than $9 billion in assets. A few weeks later, it completely collapsed. The disaster was largely triggered by one man: thirty-two-year-old hotshot trader Brian Hunter. His high-risk bets on natural gas prices bankrupted his firm and destroyed his career, while John Arnold, his rival at competitor fund Centaurus, emerged as the highest-paid trader on Wall Street. Meticulously researched and character-driven, Hedge Hogs is a riveting fly-on-the-wall account of the largest hedge fund collapse in history: a blistering tale of the recent past that explains our precarious present . . . and may predict our future. Using emails, instant messages, court testimony, and exclusive interviews, securities analyst turned investigative reporter Barbara T. Dreyfuss charts the colliding paths of these two charismatic traders who dominated the speculative energy market. We follow Brian Hunter, the Canadian farm boy and elbows-out high school basketball star, as he achieves phenomenal early success, only to see his ambition, greed, and hubris precipitate his downfall. Set in relief is the journey of John Arnold, whose mild manner, sophisticated tastes, and low profile belied his own ferocious competitive streak. As the two clash, hundreds of millions of dollars in pension and endowment money is imperiled, with devastating public consequences. Hedge Hogs takes you behind closed doors into the shadowy world of hedge funds, the unregulated wild side of finance, where over-the-top parties and lavish perks abound and billions of dollars of other people’s money are in the hands of a tiny elite. Dreyfuss traces the rise of this freewheeling industry while detailing the decades of bank, hedge fund, and commodity deregulation that turned Wall Street into a speculative casino. A gripping saga peppered with fast money, vivid characters, and high drama, Hedge Hogs is also an important and timely cautionary tale—a vivisection of a financial system jeopardized by reckless practices, watered-down regulation, and loopholes in government oversight, just waiting for the next bust. Praise for Hedge Hogs “Regulators, legislators and judges inclined to sympathize with the industry ought to rush out and buy a copy of Barbara Dreyfuss’s Hedge Hogs, a wonderfully instructive tale about Amaranth Advisors. . . . Dreyfuss, a Wall Street analyst turned investigative journalist, not only plowed through what turned out to be a treasure trove of official records and transcripts, but supplemented it with plenty of her own reporting. She manages to organize it all into a tight, riveting and understandable yarn.”—The Washington Post “Clearly and entertainingly told . . . a salutary example of how traders who believe they are super-smart might be nothing more than lucky, and how there is nothing so intoxicating as the ability to speculate with other people’s money.”—The Economist “[Dreyfuss] does a great job of putting Amaranth’s out-of-control trader into historical context, explaining the blitz of deregulation that set the stage for someone like Hunter to do maximum damage.”—Bloomberg “The definitive take on the largest hedge fund collapse in history . . . You will not be able to put it down.”—Frank Partnoy, author of F.I.A.S.C.O. and Infectious Greed Named One of the Top 10 Business & Economics Books of the Season by Publishers Weekly

A comprehensive guide to the burgeoning hedge fund industry Intended as a comprehensive reference for investors and fund and portfolio managers, Handbook of Hedge Funds combines new material with updated information from Francois-Serge L’habitant’s two other successful hedge fund books. This book features up-to-date regulatory and historical information, new case studies and trade examples, detailed analyses of investment strategies, discussions of hedge fund indices and databases, and tips on portfolio construction. Francois-Serge L’habitant (Geneva, Switzerland) is the Head of Investment Research at Kedge Capital. He is Professor of Finance at the University of Lausanne and at EDHEC Business School, as well as the author of five books, including Hedge Funds: Quantitative Insights (0-470-85667-X) and Hedge Funds: Myths & Limits (0-470-84477-9), both from Wiley.

It has been nearly two years since this bestselling title on the prime broker-hedge fund relationship from the well-know Mark Berman was published. The markets and the whole hedge fund landscape has changed hugely since then, and this Second Edition covers these changes that have occurred.