Last year, due to the introduction of stock index futures and margin trading, China's capital market has two important functions: hedging and leverage. This is also regarded as an important foundation for hedge funds to grow from scratch in China. Some institutions claim to have launched the first hedge fund in China.
Before answering the question raised in the previous paragraph, we might as well review many previous best-sellers about hedge funds, such as the most important financial books at the beginning of this year, such as Rich as an Enemy and Hedge Funds. In addition, there are many books that discuss the causes of the 2007-2009 financial crisis in the United States and reflect on the lessons. The common feature of these books is that they only eulogize the stories of hedge funds that have gained a lot with the logic of success or failure, and try to explain their success as two points: the uniqueness of hedge fund investment concept and the extraordinary level of hedge fund managers. Of course, this explanation and interpretation can not be said to be wrong, but it is not enough to outline the course and overall picture of the development of hedge funds in the United States, nor can it fully analyze the interaction between other financial fields other than hedge funds and even other components in the social and economic structure.
Monty, USA? Agarwal has experience in hedge fund industry, worked in many securities trading institutions in the United States and Asia, and founded a star-rated predator capital management company. His book The Future of Hedge Funds was introduced to China at the beginning of this year. Different from the similar books mentioned above, Monty? Agarwal began with a hedge fund scandal, confronting many American hedge funds in Bernie? The huge losses in Madoff's Ponzi scheme and other scams are embarrassing.