Hedgehogging Questions - Chapters 1-10

1. Why did Biggs short oil and what were the consequences? How do you create a short position in oil what are the mechanics? What did he (and you) learn from this experience?

2. Describe what a fund of funds is and how it might potentially add value to an investors portfolio. Are fund of fund fees justifiable?

3. What is meant by Size is the enemy of performance? What other impediments to success in managing hedge funds are cited by Biggs?

4. What is Biggs description of a global macro investor? What is meant by the quote: Diversification is an enemy of performance and what is the argument behind this statement?

5. According to Biggs, what makes an investor a superstar investor?