The main purpose of The Little Book of Hedge Funds by Anthony Scaramucci (second edition) is to introduce graduates to a career in the hedge fund industry. I would say it is a book version of a careers’ brochure.

As the hedge fund industry is lightly regulated, it is diverse and opaque, defying a tidy definition. The author – an industry veteran – wants to remove hype and mystique. It is descriptive, not prescriptive; it is not meant to be about the economic or policy issues.

One of the interesting issues that do come to mind reading the book are about how hedge funds don’t mass sell strategies and stick to the complex, with funds of funds providing a solution. Also interesting is whether hedge funds are a solution to a lack of stewardship by institutional investors.

This is a good book for someone early in their career or someone looking to sell a service to hedge funds who needs an entertaining and easy guide to a complex industry.