对冲基金泡影：赚大钱假象与缘何难以置信 The Hedge Fund Mirage

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	【资料名称】:The Hedge Fund Mirage     【资料描述】: 　　编辑推荐 　　If all the money that's ever been invested in hedge funds had been put in treasury bills instead, the results would have been twice as good. This is the assertion that JP Morgan insider Simon Lackroves as he makes the astonishing case that little to no regulation, excessive fees, and a crowded industry has left hedge fund investors with poor returns. 　　内容简介 　　Although some of the greatest fortunes in finance have been earned by hedge fund managers, investors as a group have done quite poorly. High fees, complex legal structures, poor timing and return chasing have led to the following stunning result: If all the money that's ever been invested in hedge funds had been in treasury bills, the results would have been twice as good. Hedge fund investors need to do better than in the past in order to justify their hedge fund investments. This book will highlight the many subtle and not-so-subtle ways that the returns and risks are biased in favor of the hedge fund manager, and how investors and allocators can redress the imbalance. 　　作者简介 　　Simon Lack's (Westfield, N.J.) entire career has been in trading and hedge fund investing. Following 23 years with JPMorgan, Simon Lack founded SL Advisors, LLC, a Registered Investment Advisor, in 2009. Much of Lack's career with JPMorgan was spent in North American Fixed Income Derivatives and Forward FX trading, a business that he ran successfully through several bank mergers ultimately overseeing 50 professionals and $300 million in annual revenues. Lack sat on JPMorgan's investment committee allocating over $1 billion to hedge fund managers and founded the JPMorgan Incubator Funds, two private equity vehicles that take economic stakes in emerging hedge fund managers. Lack's financial markets experience dates back to 1980 when he began his career on the floor of the London Stock Exchange. 　　目录 　　Cover 　　Title page 　　Copyright page 　　Dedication 　　Introduction 　　Acknowledgments 　　Chapter 1 The Truth about Hedge Fund ReturnsHow to Look at Returns 　　Digging into the Numbers 　　The Investor’s View of Returns 　　How the Hedge Fund Industry Grew 　　The Only Thing That Counts Is Total ProfitsHedge Funds Are Not Mutual Funds 　　Summary 　　Chapter 2 The Golden Age of Hedge Funds 　　Hedge Funds as Clients 　　Building a Hedge Fund Portfolio 　　The Interview Is the Investment Research 　　Long Term Capital Management 　　Too Many Bank Mergers 　　Summary 　　Chapter 3 The Seeding Business 　　How a Venture Capitalist Looks at Hedge FundsFrom Concept to the Real Deal 　　Searching for That Rare Gem 　　Everybody Has a Story 　　Some Things Shouldn’t Be Hedged 　　The Hedge Fund as a Business 　　Summary 　　Chapter 4 Where Are the Customers’ Yachts? 　　How Much Profit Is There Really? 　　Investors Jump In 　　Fees on Top of More Fees 　　Drilling Down by Strategy 　　How to Become Richer Than Your Clients 　　Summary 　　Chapter 5 2008—The Year Hedge Funds Broke Their Promise to InvestorsFinancial Crisis, 1987 Version 　　How 2008 Redefined Risk 　　The Hedge Fund as Hotel California 　　Timing and Tragedy 　　In 2008, Down Was a Long Way 　　Summary 　　Chapter 6 The Unseen Costs of Admission 　　How Some Investors Pay for Others 　　My Mid-Market or Yours? 　　The Benefits of Keen Eyesight 　　Show Me My Money 　　Summary 　　Chapter 7 The Hidden Costs of Being PartnersLimited Partners, Limited Rights 　　Friends with no Benefits 　　Watching the Legal Costs 　　Summary 　　Chapter 8 Hedge Fund Fraud 　　More Crooks Than You Think 　　Madoff 　　Know Your Audience 　　Accounting Arbitrage 101 　　Checking the Background Check 　　Politically Connected and Crooked? 　　Paying Your Bills with Their Money 　　Why It’s Hard to Invest in Russia 　　After Hours Due Diligence 　　Summary 　　Chapter 9 Why Less Can Be More with Hedge FundsThere Are Still Winners 　　Avoid the Crowds 　　Why Size Matters 　　Where Will They Invest All This Money? 　　Summary 　　Afterword 　　Bibliography 　　About the Author 　　Index 　　媒体评论 　　"Simon Lack, a hedge fund veteran exposes some unforeseen and uncomfortable truths about the industry in his new book."——Hedge Fund Net, January 2012 　　"...a cautionary tale from one who knows just about all the tricks...an easy, largely fun and certainly instructive read"——Financial World, February 2012 　　"Devastating little book.... His conclusions will make uncomfortable reading for many self-styled 'masters of the universe'.... This book should be required reading for pension fund trustees."——Jonathan Ford, Financial Times, 19th February 2012 【下载地址隐藏】：                    点：回复可见地址 游客，如果您要查看本帖隐藏内容请回复