How to Create & Manage a Hedge Fund: A Professional's Guide (Wiley Finance Series) / Edition 1

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Hedge funds are a profitable vehicle for both investors and managers associated with these funds. But investing in a hedge fund and creating and managing a hedge fund take two completely different sets of skills and knowledge. If you're looking to set up and run a hedge fund, it doesn't matter how much professional money management experience you have; you still need to know how to operate within the unregulated world of hedge funds to be successful. If you're ready to take the leap from conventional funds to hedge funds, How to Create and Manage a Hedge Fund: A Professional's Guide will show you how.

In an accessible, straightforward style, How to Create and Manage a Hedge Fund presents all the practical information you'll need to set up and run a leveraged investment company. Lawyers, accountants, creditors, investors, and many others will find insights into the often opaque world of hedge funds. Cutting through the hype and hysteria that usually surround this dynamic field, Stuart McCrary provides a detailed introduction and solid framework that any financial professional can understand and apply.

Filled with practical information, this unique guide first examines the critical information you must be familiar with as a hedge fund manager . . .

• Building a valuable leveraged investment company

• Types of hedge funds and hedge fund investors

• Hedge fund investment techniques and business models

• Creating leverage for investors

• Disclosing information to investors and the topical issue of transparency

. . . and then advances to the more technical and specialized aspects of starting and operating a hedge fund, with discussions of legal, accounting, risk management, marketing, and tax issues.

How to Create and Manage a Hedge Fund is filled with expert guidance that will put you in the best possible position to launch and run a leveraged investment company. Touching on everything from commodity pools and performance mathematics to legislation affecting hedge funds and derivatives, this comprehensive guide will give you a firm grasp on how to create a valuable hedge fund business that will attract investors-while showing you how to avoid common mistakes that have plagued failed hedge funds.

You may still need professional advice to assist you in setting up a hedge fund, but How to Create and Manage a Hedge Fund allows you to save time and money by giving you the tools and techniques necessary to understand and operate within the hedge fund industry.

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Product Details

  • ISBN-13: 9780471224884
  • Publisher: Wiley
  • Publication date: 8/28/2002
  • Series: Wiley Finance Series, #122
  • Edition number: 1
  • Pages: 384
  • Sales rank: 1,038,487
  • Product dimensions: 6.34 (w) x 9.22 (h) x 1.21 (d)

Meet the Author

STUART A. McCRARY is a principal with Chicago Partners LLC and specializes in options, mortgage-backed securities, derivatives, and hedge funds. As president of Frontier Asset Management, McCrary created and managed his own hedge fund before joining Chicago Partners. He has also worked as a senior options trader at Fenchurch Capital Management, as vice president in the mortgage department and in proprietary trading at First Boston Corporation, and as a portfolio manager with Comerica Bank. He has taught graduate-level courses in creating and managing a hedge fund at the Kellstadt Graduate School of Business at DePaul University and courses in financial engineering at the Stuart School of Business at the Illinois Institute of Technology. He received his BA and MBA from Northwestern University.

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Table of Contents



CHAPTER 1: Introduction to Hedge Funds.

CHAPTER 2: Building a Valuable Business.

CHAPTER 3: Types of Hedge Funds.

CHAPTER 4: Types of Hedge Fund Investors.

CHAPTER 5: Hedge Fund Investment Techniques.

CHAPTER 6: Hedge Fund Business Models.

CHAPTER 7: Creating Leverage.

CHAPTER 8: Hedge Fund Business Plans.

CHAPTER 9: Performance Measurement for Hedge Funds.

CHAPTER 10: Legislation and Regulations Affecting Hedge Funds.

CHAPTER 11: Accounting for Hedge Funds.

CHAPTER 12: Tax Reporting for Hedge Funds.

CHAPTER 13: Risk Management for Hedge Funds.

CHAPTER 14: Marketing Hedge Funds.

CHAPTER 15: Derivatives and Hedge Funds.

CHAPTER 16: Lessons Learned from the Hedge Fund Industry.




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Sort by: Showing 1 Customer Reviews
  • Anonymous

    Posted September 24, 2005

    Another college textbook

    For those readers interested in running money through a hedge fund this is an okay book. (Note: For those interested in running money through a mutual fund, I recommend Start a Successful Mutual Fund by Melinda Gerber.) Mr. McCrary's book discusses broad topics about the industry but also covers some things that can be learned better from a specialty book about marketing or business plan writing. It does not mention how hedge funds are getting into private equity, prime brokers, Sarbanes-Oxley, or the Anti-Money Laundering Act. It is also weak on specific details about how to run a fund day-to-day. In general the book reminded me of a college textbook. It is most valuable to anyone who wants a good beginning knowledge of hedge funds.

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