Hedging

Mr. Daigler's work, Advanced Options Trading, provides a sound overview of option pricing models and the variables that influence pricing for stocks, futures, and exotics. The model of focus is Black-Scholes, though I give Mr. Daigler credit for a renewed look at works by Cox, Rubenstein, and Ross. In addition to the sometimes-tedious theoretics of options, Daigler examines hedging techniques and arbitrage. Overall, a rigid yet unimaginative examination of derivatives, nothing surprising just reaffirming. Floor trading and market makers may find its presentation a pleasant refresher, otherwise look to McMillian or Sheldon Natenburg's works.

The main point of this book is a relatively simple model for the spot price of power based on stochastic supply and demand. The rationale for the model is presented along with description of an estimation procedure. Due to the lack of data the model is not fully estimated, which makes the whole exercise rather academic. that's the valuable 20 pages. the rest, imho, is filler

if you have no hedge fund experience and are starting a hedge fund, this may be a good basic overview. however, if you are already in the hedge fund world and ready to go out on your own, then this book will not be a valuable tool. in either case, you will need to hire a top tier accounting firm, law firm, and prime broker to start up. in your first meeting with each of them, you will likely get informaation which is very similar to what is disclosed in this book. not a good use of time or funds, but if you are starting a hedge fund, you can probably well afford it.

I found the book not very useful as it only gives an overview of the subject. It definitely is not a how to guide as suggested by the title "Starting a Hedge Fund".

This book contains all the information you need to understand to start a hedge fund and is clear and concise.

Some of the more valueable topics covered are: Legal issues related to structuring a fund,investment advisor registration(and avoiding it) and distribution of a fund. There are also valuable chapters on fund administration (so you will know what questions to ask before signing up an administrator), tax considerations and regulation for funds that deal in commodity derivatives (which fall under additional regulation by the CFTC).

You will still need lawyers and consultants to assist in setting up a fund, however this will let you save time and money by already having a good understanding of what is involved.

I have no connection with the writers/publishers, however they appear to be industry insiders with considerable knowledge on the topics covered (each chapter is write by an expert on that particular topic).

Our course has bought this book for us, but I can't understant why they chose this book. It's too simple and the explanations of each topic is undetailed. It's not recommended to beginners because its illustration is not clear enough and its explanation is inadequate, it's also unsuitable for advanced because it's too simple. All my classmates agree with me.

I am embarassed to admit that I bought this product. It piqued my interest because of its so called 'interactivity'. I was very disappointed with the product. It is only a CD-ROM (only an installation instruction booklet comes with it). Furthermore, the interactivity seems limited to chapter 4-answer multiple choice quizes and animated chalk board drawings. The product as a whole is qualitative, as opposed to quanitative. While it may be useful to fresh-out-of-college trainees, anyone who has been around these products for any short period of time has nothing to gain by buying this product. You are better off purchasing Hull's latest edition of 'Options, Futures, and Other Derivative Products'. Not only does Hull have more information, but his book is only a third of the cost. Again I stress, very disappointed with this product, and if someone else had written a review before me, I would never had purchased it.

hopeles