With the economy going south and news of 100's of hedge funds going out of business, or at least facing dramatic losses, there seems to be no lack of interest from individuals starting their own 'hedge fund'.
Now there is a web site that aggregates a lot of hedge fund info in a single place. Take a look at http://hedgefundgroup.org. On the site you can find a lot of reference materials and background information to help set up your own hedge fund. There are a number of videos and a large ebook of past postings to the site in an easy download.
Also of interest is the 'Chartered Hedge Fund Associate' designation, by joining CHA and taking a test you can be 'certified'.
Not for me as it seems there is plenty of leverage available for me without asking others to chip in. After raising money for a startup a few years ago I never want to take OPM again, and certainly not in this economic environment. But, for those that have an interest in Hedge Funds, this is the best site for information that I have found.