Hedge fund managers are the new "masters of the universe." The best earn more than $1 billion a year and are so sought after that they can afford to turn investor money away. The funds they run have, to some extent, established an alternative financial system, replacing banks as lenders to risky companies, acting as providers of liquidity to markets and insurers of last resort for risks such as hurricanes, and replacing pension funds and mutual funds as the most significant investors in many companies—even in some cases buying companies outright. The revised and updated second edition of this lively guide sheds much needed light on the world of hedge funds by explaining what they are, what they do, who the main players are, the regulations affecting them, the arguments as to whether they are a force for good or bad, and what the future holds for them."More people have a view about hedge funds than know about them.

对冲基金经理是新的“宇宙之主”。最优秀的基金经理年收入超过10亿美元，受到追捧，他们有能力将投资者的钱拒之门外。他们管理的基金在某种程度上建立了另一种金融体系，取代银行成为风险公司的贷款人，为市场提供流动性，为应对飓风等风险提供最后手段，取代养老基金和共同基金成为许多公司最重要的投资者，甚至在某些情况下直接收购公司。这本生动的指南的第二版经过修订和更新，通过解释对冲基金是什么，他们做什么，主要参与者是谁，影响他们的法规，关于他们是好是坏的力量的争论，向对冲基金界展示了急需的光，对对冲基金有看法的人比了解对冲基金的人多。