Book Review: The Little Book of Hedge Funds

Most of the books I've read on investing are about as appealing as chewing on a cinder block. Fortunately, Anthony Scaramucci has written The Little Book of Hedge Funds, an entertaining and informative book without the typical Wall Street bombast, and it's nearly small enough to fit into my back pocket.

Scaramucci is a regular contributor to CNBC's Fast Money, so he knows how to deliver a cogent message when he explains "the history and evolution of hedge funds and how they operate." The Little Book of Hedge Funds has everything from interviews with industry giants (Leon Cooperman) to a Due Diligence Questionnaire for potential investors. This is not a book loaded with charts, spreadsheets and algorithms but rather a straightforward anecdotal piece with something for everyone. Whether you're a neophyte who wants to learn the basics, an investment guru who'd like to pick up some gossip -- or more importantly -- someone who is considering investing their savings with a money manager, this is a worthwhile read.

There are numerous comedy analogies throughout the book, and I found this one particularly amusing: "Mutual funds are Rodney Dangerfield, while hedge funds are Jon Stewart."

I'm not sure how accurate that is, but it kept me reading from cover to cover.