Hedge Funds Humbled: The 7 Mistakes That Brought Hedge Funds to Their Knees and How They Will Rise Again

Overview

The fall and rise of a trillion-dollar industry

Among the crown jewels of the investment world, hedge funds lost more than $600 billion

in 2008. Still, says industry insider Trevor Ganshaw, a partner at a multi-strategy hedge

fund, these investments continue to offer terrific investing opportunities.

Hedge ...

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Hedge Funds, Humbled: The 7 Mistakes That Brought Hedge Funds to Their Knees and How They Will Rise Again

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Overview

The fall and rise of a trillion-dollar industry

Among the crown jewels of the investment world, hedge funds lost more than $600 billion

in 2008. Still, says industry insider Trevor Ganshaw, a partner at a multi-strategy hedge

fund, these investments continue to offer terrific investing opportunities.

Hedge Funds Humbled explores the seven mistakes that brought hedge funds to their knees—

including excessive leverage, poor risk management, illiquid investments, and fraud. It then

offers an outlook on the future of the hedge fund industry and the opportunities it still has

to offer. Hedge Funds Humbled explains:

  • How The hedge fund industry operates
  • Why it was nearly destroyed almost overnight
  • What potential investors should look for to make profits—

    and avoid disaster

Ganshaw offers invaluable advice on how to spot the good funds and identify those with

high fraud potential. He argues that as the hedge fund herd thins out, quality investment

opportunities will increase, and we will see much-needed improvements in risk management

and fund governance.

Relating one of the most dramatic financial stories in recent history, Hedge Funds Humbled

is an eye-opening look at an industry that may have yet to reveal its true potential.

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Product Details

  • ISBN-13: 9780071637121
  • Publisher: McGraw-Hill Professional Publishing
  • Publication date: 11/20/2009
  • Edition number: 1
  • Pages: 242
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.00 (d)

Meet the Author

Trevor Ganshaw is a partner at a multistrategy

hedge fund in New York City.

His articles have been published in

the Journal of Applied Corporate Finance.

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Table of Contents

Introduction: The Tale of a Shark 1

1 The True Evil in Hedge Fund Compensation (No, It's Not Greed) 13

2 Excessive Leverage: Gorging at the Buffet 29

3 Narcissistic Risk Management 75

4 Hedge Fund Correlation 95

5 The Hedge Fund Peter Principle 113

6 Capital Instability and Illiquidity: A Toxic Combination 133

7 Fraud 165

Conclusion: The Road to Redemption 215

Endnotes 227

Index 233

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