Includes bibliographical references (p. 267-276) and index.

Extraordinary markets -- Fundamentals of prime finance -- Strategy and opportunity -- Hedge funds -- Hedge fund managers and investment advisers -- Prime brokerages -- Prime brokerage business model -- Securities lending and financing -- Executing brokers -- Life cycles -- Risk management -- Legal and compliance issues -- What the future holds.

"When Prime Brokers Fail is a detailed look at the relationship between hedge funds and their brokerages and the risks that multiply in extraordinary markets. This relationship has been the source of unexpected risk for banks lending to highly leveraged hedge funds, as well as for the funds with assets at struggling banks"--Provided by publisher.