The Hedge Fund Fraud Casebook

ISBN-13: 9780470560464 / Angielski / Twarda / 2010 / 312 str.

Bruce Johnson

Opis

An in-depth, well-researched look at 100 hedge fund frauds Compared to mutual funds, hedge funds are the James Bonds of the marketplace. They have been relatively unfettered by government regulation, and they play bigger games, take bigger risks, use unorthodox methods, and have the power to capture the public imagination in a way that their lesser counterparts have difficulty approaching. At once fascinating and startling, The Hedge Fund Fraud Casebook provides readers with a broad knowledge of hedge fund regulation through a look at the first 100 cases of proven fraud at hedge funds. Compiling concrete data on cases of hedge fund fraud, The Hedge Fund Fraud Casebook provides you with a factual foundation for assessing this difficult area of risk.

• First comprehensive survey of hedge fund fraud including 100 chronological fraud cases
• Includes descriptions of each case, diagram of the player interaction, and tables detailing monies recovered, fines paid, prison terms, and professional sanctions
• Useful for both individual and professional investors, particularly given the last eighteen months of fraud and mismanagement among leading financial professionals and companies

The Hedge Fund Fraud Casebook provides a hedge fund professional's look at fraud and can help you prevent or avoid similar frauds in the future. It's a vital resource for any hedge fund manager or investor.

Spis treści

Preface.

Acknowledgments.

Introduction.

Part One: Life, Death, and Degeneration.

Chapter 1: Historic Roots of Prohibitions against Fraud.

Chapter 2: Assumptions Regarding Events and Uncertainties in the Mortality of Hedge Funds.

Chapter 3: Uncertainties and Events within the Law Enforcement System.

Part Two: Cases and Conclusions.

Chapter 4: Cases.

Chapter 5: Summary: Case Group Characteristics.

Index.

O autorze

BRUCE JOHNSON spent more than a decade as a hedge fund practitioner, managing and advising funds. He was CEO of Albourne America LLC, the U.S. arm of Albourne Partners, a hedge fund advisory firm based in London. While at Albourne, Johnson researched new approaches to hedge fund due diligence including the quantitative analysis of "fund failure" and hedge fund credit. After an earlier career as an architect and city planner in New York and London, Johnson has gained twenty–four years worth of experience in finance, including extended postings in Tokyo, Hong Kong, and London. While head of Global Research for Baring Securities, he published an important paper on the future of the Chinese and Indian economies, correctly predicting their current impact on global trade, and also created and managed the first investible global emerging markets equity index.

Blurb

Praise for The Hedge Fund Fraud Casebook

"This book is a startling eye–opener. Bruce Johnson delivers the promised goods and wraps it all in a context of history that itself is fascinating reading. Along with the cases themselves comes the story of the enormous and persistent effort it took to uncover and detail them."
John A. Prestbo, Editor and Executive Director, Dow Jones Indexes

"This book is an essential read for hedge fund investors and analysts who seek to deepen and enhance their base of knowledge. Extremely relevant due to the current turbulent economic climate, the author exposes the basic elements in the construction of the hedge fund credit model and how it can be implemented to assess the probability of a hedge fund failure. Following this analysis is an in–depth application to the real world in the form of 100 chronologically arranged cases of hedge fund fraud. Following each case is a summary of pertinent facts, charts, tables, and a textual conclusion to better facilitate case analysis. This timely volume will be of importance and much interest to any investor or analyst who wants to further their practical education and augment their personal efficacy."
Ho Ho, Quantitative Portfolio Manager, CalPERS

"This book is a big dose of realism about the world of fraud and potential fraud that surrounds all of us who take risks for a living. Bruce Johnson has catalogued the key components of each case of fraud over the first thirty–two years of the hedge fund industry. In doing this, he has created the equivalent of a periodic table of the elements for the complex world of financial fraud and hedge funds. This breakthrough represents both a valuable set of insights into the industry as well as an important methodology for studying it.The Hedge Fund Fraud Casebook is required reading for anyone who grapples with risk in financial markets."
Teresa Barger, CEO, Cartica Capital

"Having invested in the markets for over twenty years, I have a deep appreciation for what Bruce Johnson has accomplished in this book. It opens a rare window into the ′dark side′ of the often secretive world of hedge funds. This is a well written book that is a must–read for anyone who evaluates and selects hedge fund managers."
Jolanta Wysocka, CEO, Mountain Pacific Group, LLC

"Bruce Johnson provides a thoughtful analysis of the history of hedge funds in this well–researched book about hedge fund fraud. Careful and thorough due diligence is paramount when selecting any investment product, but in an industry that prizes opacity coupled with high fee structures, investors must rely on specialists with broad market knowledge, historical perspective, and strong analytical skills to ascertain managers with robust organizations, sustainable investment processes, sufficient resources, and a strong back office in order to achieve consistent investment returns. The Hedge Fund Fraud Casebook provides an in–depth review of the life cycle of hedge funds and commonalities of behavior that leads to fraud."
Julia K. Bonafede, CFA, Head of Wilshire Consulting