getAbstract Summary: Get the key points from this book in less than 10 minutes.

Joseph G. Nicholas' thorough breakdown of market-neutral investing reveals some common threads and some striking differences between the most common strategies. Most of these strategies, some of which are based on newly developed financial instruments, are not available to average investors or even to many mutual fund managers. Instead, they serve as tools for money managers at the world's largest institutions. Nicholas uses mostly non-technical language and defines all important terms in a glossary, so that even a lay reader can understand. He also keeps math to a minimum. As a result, his book makes the seemingly dry realm of hedge fund investment techniques interesting and accessible while delving deeply into each strategy's approach to risk and reward. getAbstract.com recommends this book to money managers, finance professionals and investors considering a hedge fund investment. But in light of the role that these strategies played in the collapse of former world-beater, Long-Term Capital Management, any student or professional would benefit from gaining at least a cursory notion of how they work - or don't work.

Book Publisher:

Bloomberg Press