This book is terrible. The title is misleading and the information is so basic that the reader couldn't possibly come away from the book with more thaThis book is terrible. The title is misleading and the information is so basic that the reader couldn't possibly come away from the book with more than a glib understanding of investing, let alone hedge fund replication. It's irresponsible: Despite the title, the information is geared toward novice investors; investors who have no business trying to replicate hedge fund strategies using ETFs
Part I is a lengthy and elementary exposition on the history of ETFs, mutual funds and hedge funds, definitions of various types of these and factors affecting the fund industry. The information is really far too simple. Think about it: Why would someone pick up a book called Create Your Own ETF Hedge Fund if they don't know what ETFs or hedge funds are? Anyone meeting that description should have their brokerage account trading privileges revoked and be forced into an index fund.
Part II gives a bunch of details on types of hedge fund strategies. I think the fact that the most quoted source in this section seems to be Investopedia pretty well sums up why this section is more or less useless.
Part III lets you know about Yahoo! Finance and that Fidelity is a brokerage firm you can open an account with. I think you get the idea by now.
In the end, this is a book about how to day-trade ETFs aimed at ill-informed investors who have no business trying to pick and short stocks and ETFs. It is to be avoided....more
Hi, do you like boring and safe methods of investing? Great! It's the only way to fly, as far as I'm concerned. This is the grand-daddy, the fountainhHi, do you like boring and safe methods of investing? Great! It's the only way to fly, as far as I'm concerned. This is the grand-daddy, the fountainhead of all things index investing. Quite frankly, for most people it's the best investment book ever written; you'll likely not need any others. So why only three stars?
Well, frankly, because I've already heard this message a million times throughout my life. This is the seminal wisdom that investment professionals always seem to hand out about investing: Passive strategies beat active strategies. Not that it's not true, just that I find the point to be horribly belabored, in this book and in the world beyond.
So, while it's a great book for anyone starting out in their investment planning, you've likely seen everything contained within before numerous times. A great first book, but not so much if it's your umpteenth....more