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Hedge Funds: Quantitative Insights (The Wiley Finance Series) | 
 enlarge | Author: Francois-serge Lhabitant
Publisher: Wiley
Category: Book
List Price: $135.00
Buy New: $71.78
You Save: $63.22 (47%)
New (30) Used (11) from $71.78
Rating:  3 reviews
Sales Rank: 57739
Media: Hardcover
Pages: 354
Number Of Items: 1
Shipping Weight (lbs): 1.9
Dimensions (in): 9.7 x 6.9 x 1.1
ISBN: 047085667X
Dewey Decimal Number: 332.645
EAN: 9780470856673
ASIN: 047085667X
Publication Date: July 23, 2004
Availability: Usually ships in 1-2 business days
Condition: Brand New. Expected US delivery in 7-10 business days
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Product Description
This primer on the analysis of hedge funds offers investors a more quantitative understanding of this topic, providing a complete guide to portfolio techniques, asset allocation, performance measurement and product selection in the alternative investment world. - Hedge funds are the fastest growing sector of the financial industry, and yet the least understood, by market professionals.
- Examines and popularises the results of several quantitative studies that have so far been confirmed within academic circles.
- Written by a highly regarded and impartial financial practitioner and academic, this will provide an excellent follow-on to Hedge Funds: Myths & Limits (Wiley 2002).
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| Customer Reviews:
 A solid quantitative starting point April 28, 2008
P. McFawn (Orange County, CA)
1 out of 1 found this review helpful
If you come from a background of very limited knowledge about hedge funds, this book is a great first step. I had to read and study this book for my CAIA Level-1 exam.
The book covers a lot of MBA-level finance concepts and applies them to the fairly new world of hedge funds. It begins with risk and return statistics and continues on with covariance, correlation, and regression analysis. It delves into databases, indexes, and benchmarks, which is a pretty new concept in alternative assets, as well as style and cluster classification. It also considers hedge funds from a diversified portfolio perspective and deals a lot with risk budgeting and risk management.
It's a solid book and it a good first step if you're interested in the quantitative side of funds. The quantitative insights aren't that new for a student of finance, but they are taught from the perspective of applying them to the management of a fund. I would recommend this book to those who aren't already well-versed in finance and are interested in the basics of hedge funds.
 A bit disappointing October 15, 2006
A. Pamplona (Lisbon, PT Europe)
5 out of 9 found this review helpful
Honestly I was surprised to see the book is founded on the mainstream economic theory when the hedge fund industry itself is an idealization of alternative thesis. There is no quantitative insight whatsoever into the hedge fund strategies there, even though the author does provide useful information for anyone interested in understanding the bits of this secretive industry. In my humble opinion, the book should have moved beyond those generic topics to how the quantitative models are derived and which fields of knowledge are assisting in that endeavour, ie quantum mechanics, chaos theory, etc. Instead of those interesting insights, I got a recap of what a MBA student learns in her first semester in finance class, coupled with some considerations about how to put upon the microsope the hedge fund historical data.
Notwithstanding all this, I am still confortable with 3 stars here because the area is still a black box and certainly is not easy to write a book on the topic without falling into the trap of vagueness since eventually all successful funds have tight non disclosure agreements with their R&D staff to prevent leaks. At the end, the public is only informed of those strategies and insights have lead to disaster in hedge fund collapse, ie LTCM in 98 while the sucessful quantitivative insights are kept secret at least until they prove unsuccessful.
Somewhat misleading title, but good book April 1, 2005
Quants (Norway)
0 out of 2 found this review helpful
I bought this book with the hope that finally I would learn how hedge fund strategies should be implemented in a quantitative and practical way. What a delusion I was under! Suffice to say that I regretted this purchase. You will not learn about investment strategies here, so if this is your motivation, look somewhere else (Lhabitant's first book "Hedge Funds: Myths and Limits" is better on investment strategies, but only in a qualitative way). All the same, I have found some use for this book. If you want a review of finance/investment theory like asset pricing models (CAPM, APT), risk and return measurement, regression analysis, etc. the book will do just fine. I recommend looking at the table of contents to see if this book suits your purpose. I have found chapter 5 on hedge fund indices, and the problems with these, very useful. Also, chapter 9 on style analysis is good, as well as chapter 8.5 on hedge funds as option portfolios which summarizes the scientific papers by Fung, Agrawal and those guys. However, you will find most of the book's topics in finance textbooks used in graduate schools, but if you haven't read those, I guess this book will be very useful for you.
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