# [E–pub/E–book] (What Hedge Funds Really Do: An Introduction to Portfolio Management) author Philip J Romero

High level description of the Hedge fund industryI purchased it because of the coursera course offered by the **Author Definitely Too Small A **Definitely too small a for the price one can read it in 20 min The authors just want to make money out of it This is so small You could copy and paste the whole content in less than 40 pages of Word This is expensive for what it

paste the whole content in less than 40 pages of Word This is expensive for what it Done by a teacher who asks his own book which is far from being the best book

the subject This book is worth than 2 4 easily explains the fundamental concepts and principles of hedge fund investment strategies with case studies Really useful to attend the course computational investing by Tucker Balch on coursera The only reason I bought this book was because it was reuired for a class taught by one of the authors surprise surprise It s dry as cat litter and very amateurishly formatted and explained Mathematical proofs are enerally over explained in the dumbest ways and random poorly explained notation is used Here re a couple excerpts from an early section I recently reviewedThis is done by compounding the daily return by the number of trading days in a year 252 as follows in Python annualreturn cumproddailyreturns 1 1That s it There s no explanation for the non Python savvy reader that cumprod is a numpy. When I managed a hedge fund in the late 1990s computer basedtrading was a mysterious techniue only available to thelargest hedge funds and institutional trading desks Weve comea long way since then With this book Drs Romero and Balch liftthe veil from many of these once opaue concepts in high techfinance We can all benefit from learning how the cooperationbetween wetware and software. .ON THE SUBJECT THIS BOOK IS

## Philip J Romero Õ 0 DOWNLOAD

Evel and easy to understand introductions to most investing concepts valuation CAPM EMH etc Numerous hedge fund manager bios explaining their background and strategy Good summary on common pitfalls investors makeCons Way too__and shallow there is almost depth on any of the topics Not a single programming example in the book very little math examples either Hedge fund manager bios placed throughout the book rather than in one sectionI realize its an introductory textbook but it s really dumbed down uite frankly most people would learn about uantitative investing reading the journalistic accounts of uants such as Michael Lewis or Scott Pattersons books since the textbook is a very high level summary Professor Balch is a very intelligent person however without any depth the only people I think that would et value out of__

SHORT AND SHALLOW THERE IS ALMOST

the book by itself are those that know almost nothing about investing Ifbook by itself are those that know almost nothing about investing If read the WSJ FT or any finance blog at all this book really isn t worth the moneyThat being said I m really lad Prof Balch took the time to teach a Coursera course on computational investing and is trying to make the topic accessible to a wider Class of 92: Out of Our League group of people Ultimately I think most people willet much value oing through the course than they will with the textbook Chri. S with every sector of the investmentlandscape the hedge fund industry varies dramaticallyfrom uantitative black box technology to fundamental researchand old fashioned stock picking This book helps investorsdistinguish between these diverse opposites and understandtheir place in the new evolving world of finance Mick ElfersFounder and Chief Investment Strategist Irvington Capita. ,

Function or that dailyreturns is particularly shaped array presumably or much

less WHY this is how you could or calculate the valueWHY this euation is how you could or should calculate the value was absolutely no reason to express this otherwise unexplained euation they never explain WHY this in Python euation does what they say as pseudo Python instead of a simple mathematical euationThe authors clearly never heard of superscripts either200100 1 CAGR 102 1 CAGR 102 110 1 CAGRSince 2 110 1072 then1072 1 CAGR andCAGR 72% ie 1072 1That s how it s formatted in the book except that all of the above lines are formatted such that all of the symbols line up It s like a 15 year old wrote it I m so lad 2 110 1 CAGR and since 2 110 1072 then 1072 1 CAGR was explained Wow That was a tough one to follow And it doesn t How the West Was Lost: Fifty Years of Economic Folly--and the Stark Choices Ahead get much better folks It doesn tet much betterI ive it 2 stars instead of 1 because it at least contains what seems to be valid information It s just presented in a horrific manner Like many others I purchased this book as part of Tucker Balch s computational investing class on Coursera I was hoping the book would be a ood supplement to some of the computational and programming heavy exercises later in the course Unfortunately the book fails to deliver and really isn t worth the pricePros High Creates fitter models This bookdoes a fantastic job describing how the latest advances in financialmodeling and data science help todays portfolio managerssolve these reater riddles Michael Himmel ManagingPartner Essex Asset ManagementI applaud Phil Romeros willingness to write about the hedgefund world an industry that is very private often flamboyantand easily misunderstood