By Shinnecock Partners

In an effort to expand our thinking, we undertook some research on what books had been published on hedge funds and funds of funds. It seemed wasteful and selfish to not share what we found – misery loves company. Hence, the following recaps this project with the list ordered from most sophisticated and selectively thought-provoking, to the most basic:

  • reconsidering-funds-of-hedge-fundsReconsidering Funds of Hedge Funds: The Financial Crisis and Best Practices in UCITS, Tail Risk, Performance, and Due Diligence
    Greg Gregoriou (Editor)
    Academic Press (an imprint of Elsevier), 2013

    This collection of articles authored by both practitioners and academics focuses on funds of hedge funds (“FoF”) with a particularly international (i.e., non-U.S.) emphasis. The generally academic slant explores FoF vehicles as an investment category, selection criteria thereof and regulatory regimes in various countries. Each chapter, authored by different experts, stands on its own albeit grouped by subject. It is well done; however, the reader should come equipped with a quantitative background and substantial a priori knowledge.

  • hedge-fund-investment-managementHedge Fund Investment Management
    Izzy Nelken (Editor)
    Elsevier Finance, 2006

    This compendium of articles arranged by theme, written by both academics and hedge fund practitioners, covers a smorgasbord of subjects. It offers insights from each author yet does not dig deeply into any particular area and relies on the reader to ascertain the linkages between the various subjects.

  • investing-in-hedge-fundsInvesting in Hedge Funds
    Joseph Nicholas
    Bloomberg Press, 2005

    This knowledgeable author operates a business providing statistical data to the hedge fund industry and leverages that experience to provide details on various hedge fund strategies. He concludes with a brief commentary on taking the plunge and what to do after making an investment.

  • the-hedge-funds-bookThe Hedge Funds Book: How to Invest in Hedge Funds & Earn High Rates of Return Safely
    Alan Northcott
    Atlantic Publishing Group Inc., 2010

    Targeting less sophisticated readers, the author provides a brief history and then defines the underlying investments that can be incorporated into these pooled vehicles, e.g., stocks, bonds, futures, etc. Hedge fund strategies are delineated with a quick pass on how to get started, taxation, and even landing a hedge fund job.

  • how-to-invest-in-hedge-fundsHow to Invest in Hedge Funds: An Investment Professional’s Guide
    Mathew Ridley
    Kogan Page Limited 2004, reprinted 2004, 2006 paperback, 2007 paperback edition

    A thorough and lengthy primer on hedge funds. The author begins with the basics in the early chapters (20%). In the following 15%, selection and evaluation criteria are described. The
    remainder, and bulk of this work, is an outline of various hedge fund strategies.

  • the-hedge-fund-ladyThe Hedge Fund Lady: A Practical Guide to Hedge Funds
    Renata Neufeld
    Doubletree Press, 2004

    This approachable work offers a comfortable entrance to how hedge funds differ from other pooled investments such as mutual funds. It seeks to dispel the myths and hyperbole found in the press while delving into a quick review of different hedge fund strategies. This starter kit for hedge fund newbies quickly and lightly touches many of the relevant considerations.

  • hedge-funds-for-dummiesHedge Funds for Dummies
    Ann C. Logue
    Wiley Publishing, 2007

    Basics on hedge fund structures and investing in general – scant analytical framework, little on sourcing, evaluating or creating a portfolio – a good beginner’s survey course although
    somewhat dated.

We welcome any suggestions to add to our own homework pile. There is no rest for the wicked!