The dismal truth about hedge funds and how investors can get a greater share of the profits

Shocking but true: if all the money that's ever been invested in hedge funds had been in treasury bills, the results would have been twice as good.

Although hedge fund managers have earned some great fortunes, investors as a group have done quite poorly, particularly in recent years. Plagued by high fees, complex legal structures, poor disclosure, and return chasing, investors confront surprisingly meager results. Drawing on an insider's view of industry growth during the 1990s, a time when hedge fund investors did well in part because there were relatively few of them, The Hedge Fund Mirage chronicles the early days of hedge fund investing before institutions got into the game and goes on to describe the seeding business, a specialized area in which investors provide venture capital-type funding to promising but undiscovered hedge funds. Today's investors need to do better, and this book highlights the many subtle and not-so-subtle ways that the returns and risks are biased in favor of the hedge fund manager, and how investors and allocators can redress the imbalance.

• The surprising frequency of fraud, highlighted with several examples that the author was able to avoid through solid due diligence, industry contacts, and some luck
• Why new and emerging hedge fund managers are where generally better returns are to be found, because most capital invested is steered towards apparently safer but less profitable large, established funds rather than smaller managers that evoke the more profitable 1990s

Hedge fund investors have had it hard in recent years, but The Hedge Fund Mirage is here to change that, by turning the tables on conventional wisdom and putting the hedge fund investor back on top.

Fundamentals of Corporate Finance is written with one strongly held principle: that corporate finance should be developed and taught in terms of a few integrated, powerful ideas. As such, there are three basic themes that are the central focus of the book: 1) An emphasis on intuition; underlying ideas are discussed in general terms and then by way of examples that illustrate in more concrete terms how a financial manager might proceed in a given situation. 2) A unified valuation approach; net present value (NPV) is treated as the basic concept underlying corporate finance. Every subject covered is firmly rooted in valuation, and care is taken to explain how particular decisions have valuation effects. 3) A managerial focus; the authors emphasize the role of the financial manager as decision maker, and they stress the need for managerial input and judgment. The Alternate Edition contains four extra chapters: Risk Management; Option Valuation; Mergers and Acquisitions; Leasing.

2002

The Ninth Edition of this classic text provides a firm foundation in microbiology with an emphasis on human disease. It is written for students in nursing and allied health programs and is appropriate for non-majors microbiology courses. With all of the pedagogical elements and student-friendly ancillaries that Dr. Pommerville is known for, this latest edition provides numerous new updates and additions, including the latest disease data and statistics, added material on emerging disease outbreaks, and expanded use of concept maps and much more.

Jean Stone, the bestselling author of Off Season, weaves the extraordinary story of three cousins bound forever by the family fortune they share–and the family secrets they don’t dare reveal....

Mary Beth, Nikki, and Gabrielle have little in common except the vast Atkinson fortune they inherited. Growing up amidst the splendor of Manhattan town houses and summers on Martha’s Vineyard, they’ve all learned the hard way that money can buy everything–except happiness. Marked by a summer tragedy they’ve all tried to forget, each woman has struggled to find her own way to cope with the secrets of her past.

Now Mary Beth is a pillar of the New York social scene, buying designer clothing and priceless jewels that even she cannot afford. Nikki searches for peace on the Vineyard, pouring her inheritance into endless charity work. And Gabrielle hoards her money in a Swiss bank account, safe from the husband who knows nothing of her wealth. But when their trusted executor disappears with their money, the cousins come together once again to find him. For each woman, regaining her fortune has a different meaning–and will come at a different price. And in the end they’ll learn that no one’s secrets can stay hidden forever–not even the truth of what really happened that terrible day so many summers ago....

Now in its seventh edition, Fundamentals of Thermodynamics continues to offer a comprehensive and rigorous treatment of classical thermodynamics, while retaining an engineering perspective. With concise, applications-oriented discussion of topics and self-test problems the text encourages students to monitor their own comprehension. The seventh edition is updated with additional examples, homework problems, and illustrations to increase student understanding. The text lays the groundwork for subsequent studies in fields such as fluid mechanics, heat transfer and statistical thermodynamics, and prepares students to effectively apply thermodynamics in the practice of engineering.

This thoroughly revised and updated edition of the classic book in the field provides a conceptual foundation for the fund raising profession. Hank Rosso's Achieving Excellence in Fund Raising examines the profession's principles, strategies, and methods and is filled with practical examples. Guided by the enduring philosophy of fund raising master Henry A. Rosso, contributors explain the reasoning behind the planning and selection of strategies for all fund raising activities, including building your case for support, approaching donors, managing campaigns, and demonstrating stewardship. 

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"Fundamentals of Structural Analysis, third edition" introduces engineering and architectural students to the basic techniques for analyzing the most common structural elements, including beams, trusses, frames, cables, and arches. Leet et al cover the classical methods of analysis for determinate and indeterminate structures, and provide an introduction to the matrix formulation on which computer analysis is based. Third edition users will find that the text's layout has improved to better illustrate example problems, superior coverage of loads is give in Chapter 2 and over 25 per cent of the homework problems have been revised or are new to this edition.