Interesting book on the hedge-fund industry by Ann Logue, MBA in Finance from the University of Chicago and analyst for firms Andrew Davidson & Co. and Volpe Brown Whelan & Company.

This book walks you through the process of evaluating and choosing funds, incorporating them into portfolios in the right amounts, and making sure they give you the returns you expect. It also covers complex issues like arbitrage pricing theory and goes through the Hedge Fund Industry's basic concepts and history before tackling more sophisticated topics.

In addition to describing the hedge fund industry's many dimensions, Logue also provides plenty of useful advice. Her tips cover due diligence on fund managers, evaluating fees and contract terms, understanding hedge funds' multitude of investment strategies, and learning how to spot risk factors.

Review of John Bogle's Little Book of Common Sense Investing.