Hedge Fund Mania
Yesterday a new book landed on my desk, Create Your Own Hedge Fund. It's hot off the presses from John Wiley & Sons, which faithfully sends me a review copy of all their new trading books.
This one made me laugh. Why? It's because I was under the mistaken impression that it was a book for average Joe's who want to be a master of the universe and create their own billion-dollar hedge fund. When I saw this book jacket, I thought they finally had their own text showing them how.
I was wrong, of course. The book, by options strategist Mark D. Wolfinger, is really for people who want to learn to create their own personal hedged portfolio -- not one they can market to the masses.
The subtitle is, "Increase profits and reduce risk with ETFs and options." I've only flipped through the book so far, but it looks to be a decent read for someone who wants to learn how to use these investment products to reduce market risk.
I just finished writing a story about the booming hedge fund industry in which I concluded that the current rush to create and invest in hedge funds was unsustainable and a shakeout was coming.
I wouldn't be surprised if a book that really is about how to create and market your own hedge fund lands on my desk next week. Then I'd be even more confident my thesis about the growing hedge fund bubble is right.
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