Here are 10 of the greatest books published on the hedge fund business that investors who want to understand more about hedge funds and how they work, or prospective hedge fund managers who want to broaden their expertise, should read.
1. More Money than God:
"More Money than God," by Sebastian Mallaby, is the classic history of the hedge fund business, covering its origins in the 1960s and continuing through the 2008 financial crisis. Mallaby makes the case that hedge funds, despite their widespread derision, are beneficial to the overall economy. Mallaby's book, which was written in part with the help of several hundred hours of interviews with hedge fund managers, provides:
- Rare insights into the evolution of the hedge fund industry.
- The development of hedge fund trading strategies.
- The psychology and mindset of the people who manage billions of dollars in investment capital daily.
2. The Hedge Fund Book:
Wilson gives insights into the day-to-day operations of hedge funds and the actions of hedge fund managers, with particular emphasis on the trading and marketing of hedge funds, in both the short and long term.
3. Hedgehogging:
In addition to being very popular and educational, many of the most popular – and most informative – books about the hedge fund sector are novels that give in-depth insights into the lives and brains of highly successful hedge fund managers. Partners hedge fund after a lengthy and successful career as an investment analyst at Morgan Stanley (among other places). This is partly due to the growth of exchange-traded funds, making hedge fund-style investment more accessible to typical investors.
4. Market-Neutral Investing:
Long/short, or market neutral, trading is one of the most common hedge fund trading methods, and Joseph Nicholas' book dives into this strategy in depth. The use of market-neutral trading techniques is a preferred risk management method under turbulent market circumstances, such as those that have characterized the first few weeks of this year. The long/short equity strategy has been more popular among investors, as shown by several of these strategies beating the general market average between 2005 and 2015 on a percentage basis.
5. Top Hedge Fund Investors:
Authors Cathleen Rittereiser and Lawrence Kochard have compiled an entertaining and educational book. This book makes the case that hedge funds, despite their widespread derision, are beneficial to the overall economy.
6. All About Hedge Funds:
All About Hedge Funds debunks key hedge fund fallacies and demonstrates how any investor may benefit from the high-potential returns of hedge funds while implementing protections to reduce their volatility and risk. All About Hedge Funds is a must-read for anybody interested in hedge funds. This clear-headed, commonsense hand Books informs investors on the following topics: what hedge funds are and are not; what they are and are not; what they are and are not; There are four main hedge fund strategies: How to integrate hedge funds into an existing portfolio of investments; The many types of risks associated with hedge fund investment.
7. Hedge Funds for Dummies:
Hedge Funds for Dummies in an easy-to-understand manner by this book from the "For Dummies" series, which uses plain vocabulary and useful infographics and charts. Hedging funds are difficult, and this book provides a fundamental introduction to hedge funds. You should consider purchasing this if you are interested in the subject and new to the game.
8. The Little Book of Hedge Funds:
President Donald Trump's communications director, Anthony Scaramucci, is a well-known hedge fund investor who previously served as the White House communications director for a short while. With this book, you will get a first-hand experience of setting up and operating a hedge fund straightforwardly and understandably.
9. Hedge Funds:
This is a more complex and math-heavy book on hedge funds and trading methods intended for financial professionals with a good deal of experience. The book’s coverage of risk assessment, hedging, alternative asset classes, and more.
10. Hedge Fund Market Wizards:
Jack Schwager has written a new book focused on hedge funds, continuing his Market Wizards series. The long/short equity strategy has been more popular among investors. He interviews prominent hedge fund managers to get insights and expert perspectives regarding the hedge fund sector. This book, written in a conversational style, is likely to catch the interest of both new and seasoned Wall Street readers.
