So You Want To Start A Hedge Fund: Lessons For Ma Nagers And Allocators

By sharing stories that reflect on the opportunities and risks facing start-ups and small investment firms, the author demonstrates some key lessons of history so that future managers can avoid repeated missteps and future allocators can see patterns that emerge. These stories are not those you read about in the papers - barely a peep about billionaire hedge fund managers who have reached the economic pinnacle of a lucrative field. Instead, the principals whose firms are discussed are highly educated, well trained, talented, competitive people who gave it their very best and either achieved success or ultimately failed in the pursuit of greatness. In the stories of those who have succeeded, the book focuses on that portion of their fund's existence where such an outcome was far from a forgone conclusion. Topics include:

• Raising money
• Investment strategy
• Investment performance
• Allocator perspective

TED SEIDES is the former President and co-CIO at Protege Partners, LLC, a leading alternative investment firm launched in 2002 that invests in small and specialized hedge funds on an arms-length and seed basis. He has authored investment pieces forCFA Institute Conference Proceedings Quarterly, Institutional Investor, Harvard Business School Publishing, FT Alphaville, and the late Peter L. Bernstein's "Economics and Portfolio Strategy" newsletter.