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Hedge Funds
An Analytic Perspective - Updated Edition
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Check link for latest rating. ( 36 ratings, 2 reviews)
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Hedge Funds
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Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?
Ideal for financial professionals, academics, serious investors, and regulators seeking a deep and data-driven understanding of hedge fund dynamics and strategies.
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See moreThe hedge fund industry has grown dramatically over the years. Originally intended for the wealthy, these private investments have attracted a much broader following that includes pension funds and retail investors. This book addresses the pressing need for a systematic framework for managing hedge fund investments.
Andrew Lo's Hedge Funds is likely to be the high-water mark in the analysis of hedge funds for years to come. Focusing on hedge fund returns and trading strategies, risk characteristics, and potential for illiquidity, Lo brings to bear his always fresh and insightful thinking. -- Richard Bookstaber, author of "A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation" Lo offers a truly unique perspective. He examines the properties of returns and illiquidity in great detail and introduces an innovative concept of mean-variance-liquidity optimization, something that no other book on hedge funds has addressed. -- Narayan Y. Naik, London Business School This book provides a useful and very timely overview of key aspects of the hedge fund industry. It summarizes the basic properties of hedge fund returns, discusses why traditional performance measures may be misleading when analyzing hedge fund performance, and highlights important issues such as serial correlation, return smoothing, and illiquidity. -- Markus K. Brunnermeier, Princeton University
Book Hero Magic formatted this description to make it easier to read. While it's new and
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Description
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 Loβone of the world's most respected financial economistsβaddresses 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 analysing 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.
Series: Advances in Financial Engineering
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Hedge Funds
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...Paperback$10900Unit price /UnavailableAvailableShips in 4-6 weeks
Book Hero Magic summarised reviews for this book. While it's new and still learning, it may not be perfect - your feedback is welcome! HOW HAS THIS BEEN REVIEWED?
Praised as a must-read by Steven Bell of The Business Economist for its authoritative and accessible distillation of complex academic research and practical insights, Hedge Funds comes highly recommended by The Economist and economist Tyler Cowen for serious investors and regulators alike. Marcel M?llenbeck highlights the book's role in establishing essential concepts in hedge fund analysis for scholars familiar with modern portfolio theory.
Book Details
INFORMATION
ISBN: 9780691145983
Publisher: Princeton University Press
Format: Paperback / softback
Date Published: 21 July 2010
Country: United States
Imprint: Princeton University Press
Edition: Updated Edition
Illustration: 14 b&w illus. 34 line illus. 60 tables.
Audience: Tertiary education, Professional and scholarly
DIMENSIONS
Width: 156.0mm
Height: 235.0mm
Weight: 567g
Pages: 400
About the Author
Andrew W. Lo is the Harris & Harris Group Professor at the MIT Sloan School of Management, and director of the MIT Laboratory for Financial Engineering. He is the coauthor of A Non-Random Walk Down Wall Street and The Econometrics of Financial Markets (both Princeton).
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