The hedge fund industry continues to grow by leaps and bounds, and within this universe, the socalled "fund of funds" is king. Comprised of multiple-manager portfolios bundled together as a single multi-hedge fund product, this risk-balancing vehicle has emerged as the instrument of choice for the astute investment professional. "Hedge Fund of Funds Investingwalks the steps for creating, combining, and managing investments with multiple hedge funds as a fund of funds--to achieve specific investment objectives as well as the overall strategic diversification so highly valued by institutional and individual investors alike. Nicholas explains the building blocks of a fund of funds and how they can be incorporated into a traditional portfolio. He also teaches how to evaluate risks, estimate potential returns, and choose statistical measurement methods.