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From the Author
My first book, Foundation and Endowment Investing: Philosophies and Strategies of Top Investors and Institutions, profiles twelve well-regarded Chief Investment Officers at leading university endowments and foundations. It chronicles the investment philosophies, strategies and challenges of leading CIOs, and shares their ideas and advice with investors. The stories of such accomplished investors - most known only within a segment of the institutional investment community - provided readers with valuable information and ideas. Descriptions of their long-term investment process taught investors useful lessons about asset allocation, manager selection and alpha generation. Their opinions and advice left readers with a better understanding of the top investor mindset.
Co-author Larry Kochard best describes the value of writing and reading about successful investors in this excerpt from the conclusion of Foundation and Endowment Investing:
"Successful people in any field don't stick their head in the sand - they are always hoping to learn new ideas from other innovators and leaders in any field. As investors we all want to do a better job establishing a disciplined and successful investment process and generating better returns on our portfolio, whether it benefits an institution or our families.
"Now that we know how much we can learn from interviewing different types of investors, we look forward to hearing their insights."
I too found the experience of interviewing and writing about such accomplished investors to be engaging, enlightening and, quite honestly, entertaining. We knew the format - overview, interview, review and preview - would work well in books about other interesting and important investment industry insiders. And we knew a group of investors that fit the profile: Top Hedge Fund Investors.
Larry Kochard and I feel privileged to have worked with and learned from these leading hedge fund investors. We cannot express enough gratitude for their participation. Our goal was to capture their thought processes, so that we, and our readers, would gain investment insight. We believe we have achieved our goal.
--Cathleen M. Rittereiser
内容简介 A professional's guide to the world of hedge fund investing
Throughout the financial crisis of 2008, many hedge funds suffered massive losses and were often blamed for the extreme market upheavals. In the wake of the crisis, hedge funds remain a source of fascination for the media, legislators, and investors, mostly due to misunderstanding.
Historically portrayed as risky investment funds for the very wealthy run by swashbuckling traders, the truth is hedge funds are simply an investment vehicle designed to generate superior returns and reduce an investor's overall portfolio risk.
Investors have good reasons to remain fascinated with hedge funds. Although many individual funds have underperformed or collapsed, hedge funds as a whole have provided solid returns while reducing risks. Savvy institutions have invested in hedge funds for many years and have made them a large and powerful force in the markets. Investing in hedge funds requires sophisticated knowledge, understanding, skill, access, and experience. Individuals and institutions, whether they are new to hedge funds or need to improve, can find those attributes in the stories of the successful hedge fund investors profiled in Top Hedge Fund Investors: Stories, Strategies, and Advice.
Top Hedge Fund Investors chronicles the challenges and rewards these investors face in selecting hedge fund managers, managing risks, and constructing portfolios. In revealing conversations, leading hedge fund investors who place hundreds of billions of dollars in hedge funds, share their philosophies, strategies, and advice.
* 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 these current events will change future strategies
* Provides lessons, insights, and advice beneficial to all hedge fund investors
Engaging and informative, Top Hedge Fund Investors will prove valuable to anyone involved in placing money with hedge funds, as well as hedge funds who seek to better understand their clients.Show More
作者简介 Cathleen 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.
精彩书评
"Cathleen and Larry have written this must-read book on hedge funds. They capture the spirit, energy, and knowledge of the best and brightest of the industry." —Anthony Scaramucci, Managing Partner, SkyBridge Capital, LLC
"An excellent overview and history lesson on the evolution of the global hedge fund industry with sound advice from successful investors. The foresight and persistence of these prominent hedge fund investors provides a practical education from invaluable experience. They brilliantly articulate their successes and shortfalls with great insights for any hedge fund investor." —Glen C. Dailey, Managing Director, Head of Prime Brokerage, Jefferies & Company, Inc.
"This volume will be required reading for any fiduciary or investor serious about understanding hedge funds and their strategies. In distilling the investment philosophies of major thought leaders, the authors have constructed what will quickly be recognized as a durable intellectual anchor for investors." —Orin Kramer, Chair, New Jersey State Investment Council, and Partner, Boston Provident, LP
"Rittereiser and Kochard have distilled the essence of what drives some of the alternative investment industry's most influential leaders. They have coaxed these luminaries into revealing not only their investing strategies and outlooks, but also the personality traits and life experiences that make them tick. The result is a must-read for anyone looking for an edge in, or considering a career in, the alternative investment sector." —Christopher Holt, Director, Industry Relations, Chartered Alternative Investment Analyst (CAIA) Association, and founding editor
"A fascinating look into the world of professional allocators. I recommend any hedge fund manager read this book to get inside the head of the folks who control where the money goes. Plus, anyone that is considering putting their money with a hedge fund will learn valuable lessons from these leaders. Not only is this book insightful—it is also thoroughly entertaining." —Emma Sugarman, Head of Capital Introduction, BNP Paribas