Since 1990, the number and value of hedge funds have grown at a rapid pace. The term refers to both investment structures and methods and is defined by Nicholas as a "private unregistered investment pool" with a restricted number of participants. This introductory guide defines the terms, offers reasons for investing, gives tips on risks and rewards, and explains how to invest in the funds. Also included are important documents and regulations, and 11 chapters that each describe one significant strategy used, such as types of arbitrage, equity market neutral, macro-investing, and short selling. The book has been revised to include updated data and examples, a glossary, calculation methodology, resources, and hedge fund research performance indices. Nicholas is the founder and chairman of Hedge Fund Research, Inc., and the author of other books on investing. Annotation ©2005 Book News, Inc., Portland, OR (booknews.com) Read Less