The Hedge Fund Mirage: The Illusion of Big Money and Why It's Too Good to Be True by Simon Lack

The Hedge Fund Mirage: The Illusion of Big Money and Why It's Too Good to Be True


The.Hedge.Fund.Mirage.The.Illusion.of.Big.Money.and.Why.It.s.Too.Good.to.Be.True.pdf
ISBN: 9781118164310 | 187 pages | 10 Mb

Download The Hedge Fund Mirage: The Illusion of Big Money and Why It's Too Good to Be True



The Hedge Fund Mirage: The Illusion of Big Money and Why It's Too Good to Be True Simon Lack
Publisher: Wiley, John & Sons, Incorporated


Praise for The HEDGE FUND MIRAGE "We all know of hedge funds that vaulted to the sky, only to crash to earth. Simon Lack demonstrates, astonishingly, that the industry itself has repeated that dismal story of early promise, followed by an infusion of funds, followed by a numbing reversion to the mean. The upshot: for the average investor in the average fund, hedge funds have proved a false hope. And Lack has the numbers to prove it. Written by a canny industry insider, The Hedge Fund Mirage takes a fresh look at an industry that is too often viewed in reverent and adoring terms. Not least, Lack draws attention to the fact that the average hedge fund manager—in terms of their sky-high fees—has done far better than the average investor. This book will give investors the tools to evaluate whether their own fund is up to the mark." —Roger Lowenstein, author, When Genius Failed "The Hedge Fund Mirage is required reading for hedge fund investors. Mr. Lack's wealth of experience combined with his deep commitment to candid, even-handed dialogue provides a truly unique and important perspective on the hedge fund industry. In a world where published hedge fund research typically relies on unreliable, difficult to validate data, or second-hand accounts culled from public media, Mr. Lack has created a highly entertaining book with firsthand, insightful analysis that will serve to rapidly move the reader up the learning curve." —Andrew Weisman, Chief Executive Officer, WR Platform Advisors LP "Simon Lack makes a critically important distinction between time-weighted returns and dollar-weighted returns generally, and specifically how they can differ significantly in the hedge fund space. Based on his extensive experience, the book is a treasure of subtle—as well as not-so-subtle—cautions, considerations, and advice which every hedge fund investor should comprehend." —Michael Hennessy, cofounder, Morgan Creek Capital Management "Controversial and enlightening, Simon Lack delivers the real deal on alternative asset investing. Caveat emptor to those who fail to read this, whether you're a hedge fund manager, private investor, or journalist." —Lesley Daniels Webster, Principal, Daniels Webster Capital Advisors, retired EVP, JPMorgan Chase "Simon's wisdom, humor, and authoritative analysis jump boldly off of every page. Anyone who has ever invested in a hedge fund or is thinking about it should read this book." —John Trammell, hedge fund investor, CEO, Cadogan Management

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