Review of Do-It-Yourself Hedge Funds: Everything You Need to Make Millions Right Now (Hardcover)

I bought this book with the expectation that it would teach me the behind the scenes details of hedge funds and also provide the real tools needed to start one, but in the end it is just a very high level guide to macro investment themes, diversification, and elementary valuation.If you have a finance background I would strongly suggest passing on this one and pick a different, more appropriate, book; you learned more in your introduction to finance class.Also, if you are under 30 I would also stay clear as you have probably learned more from watching Cramer on CNBC or just thru general internet use and blog reading.In this book, there is an entire chapter devoted to yahoo finance and where to find financial data and what it means.I am sorry, but if you don't even know where to find financial data or what an ETF is (which means you have probably never really invested), you should not be worried about "starting your own hedge fund" as this book misleads.You should stick with your day job and keep getting your stocks from "Money" and other sources with conflicting interests.

Of 10 chapters, I found the final 2 the only semi useful ones.The final chapter was more for entertainment value, but it did provide a valuable reminder that everything in life is zero sum and there is no place more zero sum than wall street.The 2nd to last chapter provides some hedge fund strategies and high level differences between them with a couple of examples.

I am sorry, but I really expected more from this book and I can't say I really took one thing away from it.I kept waiting for the "meat", but it never came.It is clear that the author targeted the largest audience possible, which would be non-financial main street who are just hearing the term "hedge fund" for the first time.

Disclaimer: I have a finance degree, a finance job, and have worked in a hedge fund before as a bottom of the barrel analyst, so maybe I expected too much, but I really didn't learn anything from this book and don't think anyone with any sort of finance background will either.



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