Introduction 1 Part 1: What Is a Hedge Fund, Anyway? 7 Chapter 1: Hedge Funds: Alternative Assets and Alternative Strategies 9 Chapter 2: Not Just a Sleeping Aid: Analyzing SEC Registration 25 Chapter 3: How to Buy into a Hedge Fund 39 Chapter 4: Using Hedge-Fund Strategies without the Hedge Funds 51 Chapter 5: Hedging through Research and Asset Selection 71 Part 2: Looking at Alternative Strategies 93 Chapter 6: Calculating Investment Risk and Return 95 Chapter 7: Buying Low, Selling High: Using Arbitrage in Hedge Funds 123 Chapter 8: Short-Selling, Leveraging, and Other Equity Strategies 139 Chapter 9: Observing How Hedge Funds Profit from the Corporate Life Cycle 159 Chapter 10: Macro Funds: Looking for Global Trends 173 Part 3: Determining Whether Alternative Investments Are Right for You 189 Chapter 11: Fitting Alternatives into a Portfolio 191 Chapter 12: Examining How Hedge Funds Are Structured 205 Chapter 13: But Will You Make Money? Evaluating Hedge Fund Performance 223 Chapter 14: You Want Your Money When? Balancing Time and Liquidity 245 Chapter 15: Taxes, Responsibilities, Transparency, and Other Investment Considerations 257 Part 4: Special Considerations Regarding Hedge Funds 273 Chapter 16: Hooking onto Other Types of Hedge Funds 275 Chapter 17: Hiring a Consultant to Help You with Hedge Funds 289 Chapter 18: Doing Due Diligence on a Hedge Fund 301 Part 5: The Part of Tens 317 Chapter 19: Ten (Plus One) Big Myths about Hedge Funds 319 Chapter 20: Ten Good Reasons to Invest in a Hedge Fund 325 Index 333.