“In Top Hedge Fund Investors, Rittereiser and Kochard have put to rest any lingering doubts that hedge funds have become an essential component of successful investment programs. When a collection of extraordinarily talented individuals, like those profiled in this book, dedicate their lives to a common discipline, we can be sure that these strategies have reached a permanent level of prominence in the investment world. Top Hedge Fund Investors profiles men and women with passion, courage, intellect, tenacity, inquisitiveness and resiliency, who have helped establish a standard of excellence in hedge fund investing that all those who read this book will benefit from emulating. We are all richer for the authors’ efforts to bring together this outstanding volume of Stories, Strategy and Advice from some of the best hedge fund investors in the business.”
―Mark W. Yusko, CEO & Chief Investment Officer, Morgan Creek Capital Management
“Top Hedge Fund Investors offers a refreshing perspective and unique insight into the shrouded world of hedge funds. We get a glimpse beyond the numbers and gain an insider’s view of this complex industry. As one who has been with this business for nearly thirty years, I can attest that this book rings true.”
―Lawrence P. Chiarello, Partner, SkyView Investment Advisors LLC
“Great subject, terrific insights from top allocators to hedge funds. Eldon, Meyer and Hodge show how to avoid making unforced errors when investing. They and the other Investors make this the best book I have seen on selecting money managers.”
―Douglas Sperry Makepeace, President, Sperry Fund Management LLC, New York City
“An insightful tour of the Hedge Fund World, with some of the most experienced guides that demystify a lot of the wrong ideas people have of this industry and its players.”
―Michel Amsellem, Member of the Advisory board Banque Heritage
“Given the importance that ‘hedge funds’ have gained in financial markets it behooves all investors, not just professionals, to understand the underlying principles used by prominent hedge fund investors. Top Hedge Fund Investors provides an interesting description of the investment philosophy of some of the leading practitioners of this relatively unknown segment of the financial markets, and how they have organized their firms.”
―Charles Falcon, Retired Corporate Finance Executive
TOP HEDGE FUND INVESTORS
Throughout the recent financial crisis, many hedge funds suffered massive losses and were often blamed for the extreme market upheavals. Performance soon rebounded and approached record- breaking heights. In the wake of these events, hedge funds remain a source of fascination for the media, legislators, and investors.
Historically portrayed as risky investments run by swashbuckling managersand reserved only for the very wealthyhedge funds are simply an investment vehicle designed to generate superior returns and reduce an investor’s overall portfolio risk. Although many individual funds have underperformed or collapsed, hedge funds as a whole have proved resilient and achieved their objectives.
Investing in hedge funds requires sophisticated knowledge, understanding, skill, access, and experience. Individual and institutional investors, whether they are hedge fund novices or experts, can find these attributes in the stories of the successful hedge fund investors profiled in Top Hedge Fund Investors.
This accessible resource chronicles the challenges and rewards these investors face in selecting hedge fund managers, managing risk, and constructing portfolios. Through revealing conversations, leading hedge fund investorswith hundreds of billions of dollars in hedge fundsshare their philosophies, strategies, and advice. Page by page, this timely guide:
- Profiles a variety of different investors from the pioneers in hedge fund investing to managers for high-net-worth individuals and fund of funds investors
- Discusses winners and losers in the recent market decline, problematic hedge fund strategies, and how recent events will change hedge funds forever
- Provides lessons, insights, and advice beneficial to all hedge fund investors
- And much more
Engaging and informative, Top Hedge Fund Investors will prove valuable to anyone involved in placing money with hedge funds, as well as hedge funds that seek to better understand their clients.
From the Back Cover
TOP HEDGE FUND INVESTORS
Throughout the recent financial crisis, many hedge funds suffered massive losses and were often blamed for the extreme market upheavals. Performance soon rebounded and approached record- breaking heights. In the wake of these events, hedge funds remain a source of fascination for the media, legislators, and investors.
Historically portrayed as risky investments run by swashbuckling managers and reserved only for the very wealthy hedge funds are simply an investment vehicle designed to generate superior returns and reduce an investor’s overall portfolio risk. Although many individual funds have underperformed or collapsed, hedge funds as a whole have proved resilient and achieved their objectives.
Investing in hedge funds requires sophisticated knowledge, understanding, skill, access, and experience. Individual and institutional investors, whether they are hedge fund novices or experts, can find these attributes in the stories of the successful hedge fund investors profiled in Top Hedge Fund Investors.
This accessible resource chronicles the challenges and rewards these investors face in selecting hedge fund managers, managing risk, and constructing portfolios. Through revealing conversations, leading hedge fund investors with hundreds of billions of dollars in hedge funds share their philosophies, strategies, and advice. Page by page, this timely guide:
- Profiles a variety of different investors from the pioneers in hedge fund investing to managers for high-net-worth individuals and fund of funds investors
- Discusses winners and losers in the recent market decline, problematic hedge fund strategies, and how recent events will change hedge funds forever
- Provides lessons, insights, and advice beneficial to all hedge fund investors
- And much more
Engaging and informative, Top Hedge Fund Investors will prove valuable to anyone involved in placing money with hedge funds, as well as hedge funds that seek to better understand their clients.
About the Author
CATHLEEN M. RITTEREISER is the coauthor of Foundation and Endowment Investing (Wiley) and informs and educates institutional investors as a writer, speaker, and consultant. An alternative investments marketing executive with over twenty years’ experience, Rittereiser has held positions with leading financial firms, including Symphony Asset Management and Merrill Lynch. She received a BA from Franklin & Marshall College and an MBA from New York University’s Stern School of Business.
LAWRENCE E. KOCHARD, PHD, CFA, is Chief Investment Officer of the Georgetown University endowment and teaches at the McDonough School of Business at Georgetown. He is a leader in the foundation and endowment investing community and coauthor of Foundation and Endowment Investing (Wiley). Previously, Kochard was managing director of equity and hedge fund investments for the Virginia Retirement System, an adjunct finance professor at the University of Virginia, and a vice president with Goldman Sachs. He holds an MA and PhD in economics from the University of Virginia and is a CFA.