Leseprobe
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Hedge Funds
Andrew W. Lo
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Sachbuch / Geld, Bank, Börse
Beschreibung
The hedge fund industry has grown dramatically over the last two decades, with more than eight thousand funds now controlling close to two trillion dollars. Originally intended for the wealthy, these private investments have now attracted a much broader following that includes pension funds and retail investors. Because hedge funds are largely unregulated and shrouded in secrecy, they have developed a mystique and allure that can beguile even the most experienced investor. In Hedge Funds, Andrew Lo--one of the world's most respected financial economists--addresses the pressing need for a systematic framework for managing hedge fund investments.
Arguing that hedge funds have very different risk and return characteristics than traditional investments, Lo constructs new tools for analyzing their dynamics, including measures of illiquidity exposure and performance smoothing, linear and nonlinear risk models that capture alternative betas, econometric models of hedge fund failure rates, and integrated investment processes for alternative investments. In a new chapter, he looks at how the strategies for and regulation of hedge funds have changed in the aftermath of the financial crisis.
Kundenbewertungen
Market liquidity, Portfolio Weight, Sharpe ratio, Institutional investor, Fixed income arbitrage, Expected utility hypothesis, Asset, Hedge fund, Risk of ruin, Trading strategy, Modern portfolio theory, Autocorrelation, Fair coin, Hot money, Alternative investment, Dedicated Short Bias, Information asymmetry, Credit spread (options), Net Exposure, Portfolio insurance, Growth Fund, Stock Pick, Risk arbitrage, Net Short, Earnings management, Liquidity risk, Forward contract, Inferior good, Portfolio optimization, Tracking error, Hedge (finance), Arbitrage, Economic bubble, Long-Term Capital Management, Mark-to-market accounting, Size premium, Speculation, Theoretical Value, Stochastic volatility, Market capitalization, Put option, Risk premium, Convertible arbitrage, Treynor ratio, Churn rate, Volatility swap, Random walk hypothesis, Leverage (finance), Price Change, Statistical arbitrage, Investor, Event Driven Strategy, Survivorship bias, High-yield debt, Lipper, Investment, Options arbitrage, Hurdle Rate, Thinly Traded, Global tactical asset allocation, Arbitrage pricing theory, Assets under management, Sortino ratio, S&P 500 Index, Risk management, Systemic risk, Liquidity premium, Value premium, Indexation, Treasury Index