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One-stop-guide to the hedge fund industry, investment and trading strategies adopted by hedge funds and the industry´s regulation. For anyone with an interest in investing or managing funds, it presents everything practitioners need to know to understand these investment vehicles from their theoretical underpinnings, to how they work in practice.

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1. What Is a Hedge Fund? 2. Hedge Fund Characteristics 3. Investment Strategies 4. Hedge Fund Performance Over Time 5. Hedge Funds, LTCM and Recent Crises 6. Hedge Funds, Regulation and Mutual Funds Conclusion

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´Hedge funds and the hedge fund industry are by definition at the leading edge of developments in the asset management sector and constantly evolving. Investors require a fundamental understanding of strategies and market structure. Capocci´s book brings a timely and useful update to previous publications as well as a deep insight into the quantitative approach necessary to implement hedge fund investments.´

- Florence Lombard, CEO, Chartered Alternative Investment Analyst Association

´Daniel has produced an exhaustive study of the hedge fund industry. He covers structure, evolution, performance, personality and regulation amongst key topics. Hedge funds are here to stay, even if they evolve in structure. Given that, this book is an essential resource for all those seeking to invest in or understand this highly diverse asset class. Daniel´s perspective is unique having worked in the industry and seen it first hand but also having gone away to think deeply and research the industry further with his doctorate.´

- Ian Mukherjee, founder and Chief Investment Officer, Amiya Capital

´This book is an admirable reference point for anyone interested in a comprehensive treatment of hedge fund strategies and performance, particularly for those funds domiciled outside the United States.´

- Stephen Brown, David S. Loeb Professor of Finance, New York University - Stern School of Business

´A timely reference guide for the industry as it moves onto a more mature footing. An essential resource for practitioners and students of the hedge fund industry.´

- Tom Kehoe, Alternative Investment Management Association (AIMA)

´This is an excellent ´go to´ text for answers to many key questions on the hedge fund industry - answers that are presented with a fine balance between rigorous analysis and intuitive, practical examples.´

- William Fung, Visiting research Professor of Finance, London Business School, Vice chairman, CFA Research Foundation

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