Senin, 31 Maret 2014

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Understanding Exposure, Fourth Edition: How to Shoot Great Photographs with Any Camera, by Bryan Peterson

This newly revised edition of Bryan Peterson's most popular book demystifies the complex concepts of exposure in photography, allowing readers to capture the images they want.

Understanding Exposure has taught generations of photographers how to shoot the images they want by demystifying the complex concepts of exposure in photography. In this newly updated edition, veteran photographer Bryan Peterson explains the fundamentals of light, aperture, and shutter speed and how they interact with and influence one another. With an emphasis on finding the right exposure even in tricky situations, Understanding Exposure shows you how to get (or lose) sharpness and contrast in images, freeze action, and take the best meter readings, while also exploring filters, flash, and light. With all new images, as well as an expanded section on flash, tips for using colored gels, and advice on shooting star trails, this revised edition will clarify exposure for photographers of all levels.

  • Sales Rank: #1810 in Books
  • Brand: Amphoto Books
  • Published on: 2016-03-15
  • Released on: 2016-03-15
  • Original language: English
  • Number of items: 1
  • Dimensions: 10.60" h x .50" w x 8.50" l, 1.60 pounds
  • Binding: Paperback
  • 176 pages

About the Author
BRYAN PETERSON is a professional photographer, internationally known instructor, best-selling author, and founder of The Bryan Peterson School of Photography at www.bpsop.com. His trademark use of color and strong, graphic composition have garnered him photographic awards from Communication Arts and Print magazines. He makes his home in Seattle, Washington.

Excerpt. © Reprinted by permission. All rights reserved.
INTRODUCTION
The year was 1975, but it seems like yesterday that I first introduced the “photographic triangle” to a group of about forty students. It was on a Saturday, and I was running an all-day workshop on understanding exposure on the campus of Portland Community College as part of a program of continuing adult education.

I had never presented to a group this “large,” and little did I know then that groups
of forty students one day would swell toward one thousand attendees. My journey
has in many respects been truly humbling. 

When I first picked up a camera in the summer of 1970 (a suggestion made by my older brother Bill, who was a keen amateur photographer), my intention was to use the camera as a way to record landscapes and cityscapes. I was an “artist” and wanted to capture those scenes for later sketching with my inks and charcoals. Little did I know then that the reference photos I took with my brother’s camera would send me on a photographic journey that has lasted more than forty-five years. I have had far more adventures, chance encounters, and good fortune than should be legally allowed for a single lifetime. Of course, all of my adventures have not been without some setbacks, unbelievable obstacles, and momentous challenges, but somehow I’m still here churning out another edition of Understanding Exposure. 

During those first five years, 1970 to 1975, I made it a point to write down every exposure for the reference photographs I took. When I would review each image, I knew which aperture I used and which shutter speed I used and was soon able to determine why one aperture in conjunction with a particular lens would produce a massive depth of field or a very narrow depth of field. I also knew which shutter speeds were capable of creating motion-filled water, windblown flowers and leaves, and razor-sharp action-stopping subjects. I was soon figuring out that in every picture-taking situation, I was presented with no fewer than six possible exposure options and those six exposure situations could easily be changed to a different set of six options merely by changing from one film to the other; an ISO of 50 produces a different set of six possible correct exposure options than does an ISO of 200 or an ISO of 640, and so on. 

I soon found myself making a drawing of a triangle in one of my notepads, showing the three ingredients of every correct exposure: aperture, shutter speed, and the ISO. Of course at the heart of the triangle was the light meter, whose “job” is 100 percent dependent on the photographer’s ability tell it which aperture or shutter speed he or she is using and how many “eyeballs” (ISO) he or she wishes to use for a particular scene. I mention all this for one very important reason: I emphatically believe today, just as I did back then, that if you
will invest the time needed to understand the vision of the photographic triangle and the many “creatively correct” exposures it offers, your mind will be truly free to create almost any image it can conceive in camera!

I am all too familiar with the phrase “the third time’s a charm,” and I honestly thought that when I finished the third edition of Understanding Exposure, it would be the last edition I’d write for one simple reason: I felt I had exhausted the subject of understanding exposure. Obviously I was wrong! 

I am incredibly humbled by the response to the earlier editions, with combined sales of more than one million copies in seven different languages. With numbers like that one might ask, “Why mess with a winning formula?” 

To be clear, I am not messing with the winning formula, but since the third edition of Understanding Exposure was released in 2009, even more changes have taken place in the photo industry. The one change I readily welcome is the ease of using an electronic flash. One I don’t appreciate as much is the extremely high dynamic range that many cameras are quickly approaching. In a single shot, a few of today’s cameras’ sensors are capable of capturing upward of 9 stops of light to dark exposure, and at this rate a sensor soon will be recording the human eye’s ability to see a 16-stop range! This is a huge change from the days of film, when one might expect about a 5-stop range of light to dark. Why is this a problem? In some cases it will mean the end of the many beautiful sidelit landscapes of great contrast in which the strong highlights are in marked opposition to the deep and dense shadows. There will no more of this stark contrast because of the sensors’ ability to create images that cover a much wider exposure and tonal range.

On the flip side of all this new technology, I am hearing from more and more amateurs who have not only realized the limitations of their camera phones and are buying DSLRs but are also interested in “getting it right” in camera rather than relying on after-market software to clean up their exposure mistakes. In effect, it seems the trend today is akin to the days of film, when most, if not all, amateur photographers took pride in “owning” their creativity. They relied solely on their knowledge of the multitude of creative exposures that lie within the photographic triangle and a full understanding of the power of light, including the use of electronic flash. I have seen more evidence of “owning one’s creativity” in the last twelve months than I have seen in the previous five years, and needless to say, I am thrilled. I am not, nor have I ever been, nor will I ever be a fan of automated exposures. And yes, beyond the choice to shoot in any automated camera-setting mode, my disdain for automation includes the use of highly manipulative photo software, with HDR (high dynamic range) being just one example.

I am pleased to say what some call my formula (what I call the photographic triangle) for award-winning exposures has not changed one iota since I first introduced it to a group of forty students way back in 1975. Despite the digital age we are in and will be living in for what I am guessing will be years and years to come, the formula for award-winning exposures is no different today from what it was in 1975 and even as far back as the 1930s. 

A correct exposure was, is, and always will be a combination of your choosing the right-size hole in your lens (the aperture), and the right amount of time that light is allowed to remain on the digital sensor (shutter speed), and how both of these factors are influenced by your choice of ISO. 
Back in the day, the pinhole camera proved to be a terrific method of recording an exposure (it was much like a hole in a lightproof shoe box that held a piece of light-sensitive film), and as far as I am concerned, the digital camera of today is nothing more than a lightproof shoe box with a piece of light-sensitive “film” inside. Granted, these cameras don’t look like lightproof shoe boxes, but they perform in much the same way, albeit they record a single image a bit faster. 
Now that the digital age of photography has grown up since the first introduction of the Kodak/Nikon DCS with its whopping 1.3-megapixel charge-coupled device (CCD), it’s also fair to say that many shooters who are just starting out in photography are more confused than ever before, and for this I hold the camera manufacturers responsible.

Because of their attempts to make so much of the picture-taking process automated, the simple manual cameras of yesterday have been replaced by cameras reminiscent of the cockpit of a Boeing 747-400. I don’t know about you, but I find the cockpit of a 747-400 amazingly intimidating! The once simple shutter speed dial on the camera body and the once simple aperture dial normally found on the lens have taken a backseat to dials that are crammed with “features” such as Landscape mode, Flower mode, Portrait mode, Aperture Priority mode, Action Sequence mode, Sports mode, Group Portrait mode, Shutter Priority mode, and Program mode, and there is even a bee on the Flower mode! Combine all that supposed automation with auto white balance, auto ISO, and auto flash and you’ve got a recipe for frustration. Attesting to this frustration are the many shooters who have discovered that automation works only sometimes and only with some subjects. As my email in-box shows on a daily basis, there is nothing worse or more embarrassing to a beginning photographer who has taken a really nice image than being asked how he or she did it and not having a clue. 

Just last month, I received an email from a young man who had been selected to show his work in his office’s cafeteria. He wrote me to say that he had no clue about exposure and was sure that once his prints were on display, many of his coworkers would begin to press him for information about his photographs that he did not have, such as aperture and shutter speed and even lens choice. I do not want to suggest that this is vitally important information that one needs to know to take great photographs, but I believe it is vitally important information if one wishes to make great photographs consistently. 

Understanding exposure is not hard at all, as more than 900,000 photographers all around the world have already discovered. The only requirement is that you throw away your camera’s instruction manual after you reference it to learn one thing: how to set the controls to manual. Here is a clue: On every DSLR, you will find the symbol M, and when the dial is set to M, you are sitting in the copilot’s seat, about to go on a maiden voyage. Sure, setting your camera to M might seem scary at first, but you should have no worries since I, the captain, am sitting right next to you. And once you begin to experience the freedom of truly flying on your own, you will be asking yourself, “What ever possessed me to think I couldn’t do a manual exposure?” Honestly, it’s that easy; I promise! 

With manual exposure, the world of truly creative exposures will open up to you. You will discover the utter joy of owning your exposures from beginning to end, and taking part in their creation. The joy of that one image can last lifetimes as generations yet to come continue to enjoy the work you create!

Also, in this fourth edition of Understanding Exposure, all the photographs have been replaced.
Not only does this give it a freshened up appearance, but I also have added two additional and invaluable subjects that have much to do with award-winning exposures: an expanded section on the ease and joy of shooting with electronic flash and shooting star trails, and a section on the use of flashlights as another tool for extremely creative in-camera exposure options!
Flash photography was touched on only briefly in the third edition of Understanding Exposure, and many of you let me know that you wanted to see a more thorough discussion in this edition. As the saying goes, “Ask and you shall receive!” 

Yes, I know the use of portable electronic flash is deserving of its own book, and that is why I wrote just such a book about three years ago. However, since that time even more amateurs have begun working with flash, most with utter confusion about how, when, and where to use it; this is all the more reason to include a simple and easy-to-understand section on using an electronic flash off camera. 

I will add that the ease of using flash is, in my view, the only highlight the camera manufacturers have come up with that really deserves mentioning.

Simply put, automated TTL flash delivers on its promise of “foolproof flash exposure” far more often than not, and the information I am providing in this fourth edition of Understanding Exposure is more than enough to get you started down the road of creative flash exposure. If you want even more on the subject of flash, you can purchase my book Understanding Flash.
In closing, keep in mind that you are not alone in the confusion or frustration you will at times experience. If you ever need someone to talk to, I encourage you to get online with other like-minded shooters. One way to do that is to participate daily in a public forum in which just about anything photographic is discussed. A great place to do that is my site, www.youkeepshooting.com. Whether you have questions you would like to ask me, wish to contribute an answer, or simply want to upload photos for some honest feedback from your peers, it’s a great resource for understanding exposure.

Most helpful customer reviews

2 of 2 people found the following review helpful.
If you are a photographer that feels comfortable using manual mode
By HawaiianEye
If you know how a camera works, this opens things up even more, explaining how Apeture, Shutter Speed, and ISO
are mathematically linked. I understood what shutter speeds are, how they worked, and how to use them.
But why are the basic speeds always in the order of; 1,2,4,8, 15, 30, 60, 125, 500, 1000? Why do some newer cameras include more numbers?
Why are F stops numbers graduated the way they are? 2, 2.8, 4, 5.6, 8, 11, 16, 22?
The same can be asked about ISO!
If you are a photographer that feels comfortable using manual mode, and you don't know the answers to these questions ( that was me! ),
The AHA! moments within this book, that are simply explained, will absolutely open your mind to more freedom in expression and confidence,
this simple knowledge brings to your brains table. (was that even a legal sentence?) Thanks Bryan for the quick course in logic!

3 of 3 people found the following review helpful.
Worthwhile purchase
By cs
Material is presented straightforwardly and is fairly easy to understand, even for someone who is equal parts stubborn against and fearful of learning to use Manual mode (e.g. me.:)

After reading the first few chapters, I have a better understanding of how my camera operates, and why using Auto modes does not always work. Within one day, I have learned how the 3 parts of the photographic triangle work together--and how to use them to my advantage.

As Mr. Peterson says in the book, it really is empowering to take a good 'M' photo!

30 of 31 people found the following review helpful.
The Very Best Book On the Subject - Perfect For Beginners
By Talvi
Understanding Exposure should almost be a requirement for every person buying a DSLR or a camera with an "M" (manual) mode. Since it was first published, Understanding Exposure has provided a friendly, easy, and accessible way for everyone to learn to use their cameras to create beautiful images. I've been in the photography business for almost two decades and this book has always been my first recommendation (more than any classes or any other book) when pressed for help with cameras. It really is that impressive of a resource and now has been completely revised and updated with all new pictures and new information.

At heart, the book is about what it says - exposure. Exposure is not hard - honestly, any photographer will tell you that it is all about the choices made by the person taking the image with regards to the right aperture, shutter, and ISO. Peterson calls the triangle and once those are understood, it's easy to make consistently beautiful images. Topics in the book build upon those three slowly yet thoroughly, showing graphically as well as with words how choices affect the final image.

Beyond the exposure triangle, little nuggets of great information are interspersed throughout. The images in the book are inspiring and the tone very friendly. It's for a very good reason that the book has been so successful over the last decade - Peterson makes it easy to put away the camera manual and get the most important basics down to start taking consistently good images.

For those interested in what has changed and if they want to update their old copy, all the images have been updated and new sections added: An expanded section on flash, star trails, flashlights for in-camera creativity.

Really, this is *the* book for learning photography. Highest recommendation, especially for a thorough and inspiring set of updates to an already excellent resource. Reviewed from an advance reader copy provided by the publisher.

See all 88 customer reviews...

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Selasa, 25 Maret 2014

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T'ien Shan P'ai Kung Fu, by Willy Lin

T'ien Shan P'ai is a very comprehensive school of Chinese martial arts boxing, teaching elements of the Shaolin art, Ch'i Kung, Tai Chi Ch'uan, Hsing-I, Pa Kua and Ch'in-Na. This blending of styles produces a variety of fighting techniques to be used in a wider range of possibilities in given situations.

  • Sales Rank: #633206 in Books
  • Published on: 1976-01
  • Number of items: 1
  • Binding: Paperback
  • 160 pages

Most helpful customer reviews

0 of 0 people found the following review helpful.
Excellent Introduction to Tien Shen Pai (Celestial Mountain) Kung Fu
By C. J. Hardman
Willy Lin was a student and teaching assistant in Taiwan to respected teacher WANG Jyne-jen, beginning his studies in 1959. Teacher Wang was the recognized sole inheritor of T'ien Shan P'ai, also known as Celestial Mountain Gung-Fu. Wang was also one of the Chinese Martial Arts Masters who fled during the tumultuous period of communism's implementation, bringing T'ien Shan P'ai with him and helping to make Taiwan an Oasis of traditional Chinese martial arts while teachers on the mainland were imprisoned and persecuted.

This book provides an excellent overview of the history and techniques of this system, including portions devoted to wrestling and the first basic form (as Lin points out basic in this case does NOT mean easy!). Includes a very good introduction to Chin-na, a specific subset on which Lin has written two other books.

0 of 0 people found the following review helpful.
Great grandmaster Willy Lin is such a wealth of knowledge ...
By Hilltop
Great grandmaster Willy Lin is such a wealth of knowledge about this style and has been since he introduced it to the United States.
So many students have benefited from what he has taught personally AND from his books and videos. This book is a must have for anyone who wants to know about Tien Shan Pai, coming from from Supreme Grandmaster Wang Chueh Jyne through Grandmaster Lin, his assistant instructor.

See all 2 customer reviews...

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Senin, 24 Maret 2014

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While Sam and Nina help their Czech employer to locate the cards, they are subjected to the inexplicable and ominous forces of the Hoia Baciu forest of Transylvania, reputed to be the most haunted forest in the world. It was here where the last owner of the deck met his end, so they have to enter the embrace of the devilish woodlands to seek the wicked cards that could thwart history and bring about unbridled chaos to the world.

They have to find the deck before the wrong faction does, but in their midst a traitor lurks to fulfil his own ideals and a series of strange occurrences prove that someone else is using the cards already.

  • Sales Rank: #49795 in Audible
  • Published on: 2015-09-08
  • Format: Unabridged
  • Original language: English
  • Running time: 529 minutes

Most helpful customer reviews

3 of 3 people found the following review helpful.
... was by Douglas Preston or Lincoln Child (of the excellent Prendergast series) then you got suckered just as was ...
By Frequent shopper
If you thought this was by Douglas Preston or Lincoln Child (of the excellent Prendergast series) then you got suckered just as was intended by this author. Preston W. Child is a mediocre author who has decided to use trickery as opposed to talent to further his or her career ($$$). It is an intentional misdirection! Actually, I would have rated the book two stars but I don't like being deceived.

2 of 2 people found the following review helpful.
Good development of characters and plot line A very enjoyable ...
By km
Good development of characters and plot line A very enjoyable series, can't wait for the next book. Should read first two in order to get the development of characters

2 of 2 people found the following review helpful.
Child's is using the same old formula he used in ...
By David M. Holmes
Child's is using the same old formula he used in all his Black Sun series. Once you've read one, you've read them all. And the endings are definitely a let down.

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Sabtu, 15 Maret 2014

[T998.Ebook] Ebook Download Enterprise Contract Management: A Practical Guide to Successfully Implementing an ECM Solution, by Anuj Saxena

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Enterprise Contract Management: A Practical Guide to Successfully Implementing an ECM Solution, by Anuj Saxena

Globalization, increased economic and geopolitical uncertainty, technological advancements, and a rise in the number of regulations and legislations have led to a significant rise in the importance, volume, and complexity of modern contractual agreements. Yet, in spite of these profound changes, many organizations still manage the contracting process in a fragmented, manual, and ad-hoc manner, resulting in poor contract visibility, ineffective monitoring and management of contract compliance, and inadequate analysis of contract performance. The net effect of this has been a heightened interest in re-engineering and automation of Enterprise Contract Management (ECM) processes across industry sectors and geographies.

Enterprise Contract Management: A Practical Guide to Successfully Implementing an ECM Solution addresses all the questions surrounding ECM, ECM solutions, and the project management, change management, and risk management considerations to ensure its successful implementation. This concise text will help your organization manage the challenges of the contract life cycle and the key success factors and pitfalls in a typical ECM solution. It is a must read for corporate executives, buyers, procurement and strategic sourcing specialists, consultants, contract administrators and procurement managers.

There is currently no other book available on ECM solutions. All existing books on contract management focus on the legal aspects of contracts, but none describe the functions, features, and capabilities of technology solutions that support ECM, nor do they explain the key considerations for ensuring a successful ECM solution implementation.

Key Features: -Provides comprehensive coverage for both process-oriented and technologically savvy senior managers, project managers, and contract administrators
-Covers the key functions and capabilities of ECM solutions and how they can be implemented within and beyond an organization
-Details the process aspects of ECM, such as the ECM lifecycle, the position and importance of ECM within an organization, and its relationship with governance, risk, and compliance management
-Features the key capabilities, functions, and benefits of new technology, ECM Solutions, to address the issues faced by most organizations in different phases of the contracting lifecycle
- Gives powerful advice for managers tasked with implementing an ECM Solution and for those looking for ideas on how to get the most out of their current ECM Solution
-WAV offers a free downloadable presentation on best practices for implementing an ECM Solution, a sample project plan and RFP template, and lists of valuable resources, available from the Web Added Value Download Resource Center at jrosspub.com

  • Sales Rank: #1676517 in Books
  • Brand: Brand: J. Ross Publishing
  • Published on: 2008-03-17
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.30" h x .89" w x 6.02" l, 1.29 pounds
  • Binding: Hardcover
  • 344 pages
Features
  • Used Book in Good Condition

Review
Contracts are the foundation of any business, and the average global 1000 corporation maintains over 40,000 active contracts. Yet, for most companies, the word processor, circa 1976, was the last great innovation adopted for managing these strategic agreements. This presents an array of challenges, from lack of visibility to legal and financial risk, maverick contracting and poor contract enforcement. The results are lost savings and revenue. Enterprise contract management can help companies actively manage their contracts with a direct impact on the bottom line, and this book by Anuj Saxena can show you how. I highly recommend it for anyone examining enterprise contract management. --Avner Schneur, Chief Executive Officer, Emptoris, Inc.

This is the best book that I've read on Enterprise Contract Management. Every CEO, CFO, CIO, and CPO who is interested in increasing shareholder value, reducing risk, and sustaining compliance via ECM solution implementation needs to read this book and make it required reading for his or her management and implementation teams. --Sue Levengood, Director, Corporate Sourcing, Westfield Insurance

This is the best book that I've read on Enterprise Contract Management. Every CEO, CFO, CIO, and CPO who is interested in increasing shareholder value, reducing risk, and sustaining compliance via ECM solution implementation needs to read this book and make it required reading for his or her management and implementation teams. --Sue Levengood, Director, Corporate Sourcing, Westfield Insurance

About the Author
Anuj Saxena C.P.M., MCCM (Cert.), CPIM, PMP, Six Sigma Black Belt, is an Associate Partner at IBM Global Business Services. Prior to joining IBM, Mr. Saxena was Vice President of Supplier Relationship Management (SRM) Solutions at Alti, Inc., a management consulting firm where he lead multiple SRM and ECM Solution implementations in the US and Europe. Earlier in his distinguished career, he worked for several large consulting firms such as PricewaterhouseCoopers Consulting, IBM Business Consulting Services, and Deloitte Consulting. His domain expertise includes supply chain management, materials management, sales & distribution, and enterprise asset management.

Mr. Saxena holds a Bachelors degree in Mechanical Engineering, a Masters Degree in Information Systems & Decision Sciences, another Masters Degree in Industrial & Manufacturing Systems Engineering, and certifications in Purchasing Management, Contract Management, Production & Inventory Management, Project Management and Six Sigma. He is an active member of International Association for Contract and Commercial Management and National Contract Management Association. Over the last few years, Mr. Saxena has led over 25 ECM Solution implementations and has authored several journal and conference articles on project management, procurement, and plant maintenance.

Most helpful customer reviews

2 of 3 people found the following review helpful.
Enterprise Contract Management - A Practical Guide to Successfully Implementing an ECM Solution
By KSW
A must have primer for anyone contemplating the implementation of an Enterprise Contract Management solution for their organization. This book provided me with a very thorough and complete study of what it takes to do ECM right, and how to get the most value out of an ECM solution.

When I was done reading the book I felt ready to tackle just about any issue regarding Enterprise Contract Management. Step by step it walked me through the process.

0 of 0 people found the following review helpful.
very useful
By Thiago
Very good book since it combines well theory with the practice.
It also brings a very quantitative approach to measure the contract life cycle with the six sigma approach.
I would recommend all contract professionals.

0 of 0 people found the following review helpful.
Great Reference
By Rich Holland
Helps provide and excellent basic understanding of ECM and has very useful methods for organizing teams to accomplish major work activities.

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Kamis, 13 Maret 2014

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ACE THE ARRT CERTIFICATION EXAM WITH THE LEADING NAME IN RADIOGRAPHY

4-STAR DOODY'S REVIEW!
"This is a must-have book for any future radiographer." -- Doody's Review Service

  • The entire radiography curriculum summarized in a concise, accessible narrative helps you understand and remember key concepts
  • 850+ chapter review questions, including a 200-question practice test, prepare you for the exam
  • Answers include detailed explanations to reinforce learning
  • More than 400 illustrations and clinical images
  • Written by an experienced educator and radiography program director who knows what it takes to pass
  • Essential for certification or recertification
  • Completely updated based on the 2015 ARRT Registry Blueprint
  • Includes coverage of computed & digital imaging and CT fundamentals
  • NEW FEATURE: Online faculty resources include learning activities for use in classroom teaching

  • Sales Rank: #76102 in Books
  • Brand: McGraw-Hill Professional
  • Published on: 2015-07-28
  • Original language: English
  • Number of items: 1
  • Dimensions: 10.70" h x 1.00" w x 8.40" l,
  • Binding: Paperback
  • 592 pages

About the Author

D.A. Saia, MA, RT(R) (M) (Ridgefield, CT) is Adjunct Faculty, Radiologic Technologies Program, Concordia College, Bronxville, New York. She has been teaching radiography for more than 35 years.

Most helpful customer reviews

0 of 0 people found the following review helpful.
Very general with too many words.
By Troy Mounts
Very general with too many words. There are paragraphs that run on and on without getting to the point. When looking up questions after the exam the answers weren't even in the book. It should be more to the point with heavy hitting facts.

0 of 0 people found the following review helpful.
Arrived on time,good shape and met my expectation.
By Amazon Customer
The book is in perfect condition.

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Great review
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Great review book, very helpful

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Selasa, 11 Maret 2014

[T500.Ebook] PDF Ebook Practical Operational Due Diligence on Hedge Funds: Processes, Procedures, and Case Studies (The Wiley Finance Series), by Rajiv Jaitly

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Tighten due diligence procedures for more successful hedge fund investment

Practical Operational Due Diligence on Hedge Funds is an encyclopaedic, comprehensive reference, written from the perspective of an experienced practitioner. Accompanied by a useful archive of factual material on different hedge fund issues, including failures, fines, and closures, this book focuses on the areas due diligence professionals should address, and explains why they're important. Extensive discussion of publicised cases identifies the manager entities and actual fund vehicles involved, and provides commentary on what could have been done differently in each case, backed by actual regulatory materials, such as SEC complaints, that recreate the events that took place. Readers gain a deeper understanding of the many facets of due diligence and the many possible pitfalls, learning how standardise processes and avoid major errors and oversights.

The amount of money managed by hedge funds has almost doubled from the $1 trillion under management at the time of the financial crisis. Hedge funds can be extremely risky, but can be extremely profitable — as money increasingly flows back in, due diligence on these alternative investments becomes more and more critical. This book provides complete guidance toward the due diligence process, with plentiful real-world examples.

  • Identify the areas of due diligence and what can go wrong
  • Create procedures and checklists to minimise errors
  • Learn what publicised cases could have done differently
  • Gain a deeper understanding of massive failures and successes

Proper due diligence can be a massive undertaking, but thoroughness is essential when the price of failure is so high. Practical Operational Due Diligence on Hedge Funds provides the details professionals need to be on point every time.

  • Sales Rank: #1350556 in Books
  • Published on: 2016-03-21
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.90" h x 1.60" w x 7.00" l, .0 pounds
  • Binding: Hardcover
  • 896 pages

From the Inside Flap

Hedge funds promise much, but also present considerable investment and operational risks – especially if the due diligence performed is inadequate. Although many claim to do detailed due diligence it can potentially be flawed, look at the wrong information and evidence, be deficient in some respects or, in some cases, be entirely absent. Operational risk on hedge funds is considered by many to be a major factor in assessing their viability and success and that is why operational due diligence is an important process in the selection and monitoring of hedge fund investments by investors. Whether the issues to consider are operational problems, inadequate infrastructure, documentation, poor service providers, inexperienced staff, remuneration issues, or simply denial, an investment decision with inadequate operational due diligence can potentially go very quickly from being unremarkable to catastrophic.

Practical Operational Due Diligence on Hedge Funds by Rajiv Jaitly is a comprehensive guide on how to perform operational due diligence on fund structures and their investment managers, helping to make better investment choices and decisions and avoid potential disaster. Throughout, the author explains what to focus on and why, what red flags to watch, and what lessons might be drawn from the experiences of investors in hedge funds and points to negotiate on.

This book includes a library of 300+ detailed case studies of issues on hedge funds going back to situations with the earliest hedge funds in the 1970's right up to 2012. Nothing is more enlightening and valuable than these actual case studies making up more than half of the book. Each case study walks the reader through the financial and other predicaments faced by investors and investment managers, the decisions that were made and the outcomes that resulted. Each case is then analysed in depth, demarcating key issues and highlighting key lessons to be taken away in order to avoid repeating the mistakes of others.

Although the book is written with the due diligence professional in mind, it will be of interest to anyone making investment decisions that involve hedge funds or any other type of fund. It will also be of interest to investment managers and service providers in providing an insight into how they can improve their investment offerings to investors.

It offers a wealth of tools and techniques that aid the practitioner in performing due diligence with the level of care that is required given the amounts often at stake. Critical issues covered include:

  • Establishing the existence of adequate controls in the operations of an investment manager
  • Understanding the operation of leverage and related risks
  • Scoring risks on a hedge fund
  • Managing risks of conducting due diligence
  • Negotiating terms of investment
  • Checklists
  • Guidelines for non-executive boards to review risk
  • Rational for different fund structures
  • Regulatory enforcement actions

If you are performing due diligence or making investment decisions involving hedge funds this is a book that you cannot afford to be without.

From the Back Cover

A Comprehensive Reference for Due Diligence Professionals

Rajiv Jaitly is a veteran hedge fund operational due diligence and risk practitioner who was responsible for creating what was at the time one of the largest original independent operational due diligence teams reviewing operational risk on hedge funds. Not only does he have a wealth of first-hand experience of the procedures and processes discussed, but he has also had to deal with the repercussions from issues identified by him on cases which have resulted in problems for the investment and where history has proved him right. What he learned as a result of these eye-opening experiences – and what any investor should be on the lookout for now when considering putting money into a hedge fund – is the essence of this important book. For those specifically tasked with performing due diligence, Practical Operational Due Diligence on Hedge Funds: Processes, Procedures, and Case Studies is a must-have reference.

The book is a veritable encyclopedia of information. With many years of experience as a due diligence professional and consultant, Jaitly not only offers a wealth of information on how to perform due diligence effectively and thoroughly, he also walks the reader through over 300 case studies of issues with hedge funds. You will see what went wrong, what should have rung alarm bells and what you need to understand and do in order to identify the operational risks of hedge fund investing.

In a world where the stakes are immensely high, where short cuts might be taken in the name of expediency, and where nothing may be quite what it seems, this practical and complete guide is essential reading.

About the Author

RAJIV JAITLY is the managing partner at Jaitly LLP, a risk consultancy that provides independent risk, fund governance and operational due diligence services to global alternative investment clients. He set up and managed due diligence and investment management operations for the alternative investment asset businesses of major companies such as UBS, Santander and AXA. Jaitly has also advised the Regulatory Policy team of the U.K. Pensions Regulator, was appointed an expert by the UK Office of Fair Trading for its market study into the UK defined contributions pensions market and was commissioned by the UK Financial Services Consumer Panel to write a report on Fund Costs and their implications. He has also held appointments as a non-executive director of funds.

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Fundamentals of Engineering Thermodynamics, by Rathakrishnan

  • Sales Rank: #5809431 in Books
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