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HEDGE FUNDS
LO A. wydawnictwo: PRINCETON, 2008, wydanie I cena netto: 185.00 Twoja cena 175,75 zł + 5% vat - dodaj do koszyka 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. He concludes with a case
study of quantitative equity strategies in August 2007, and presents a sobering outlook
regarding the systemic risks posed by this industry.
320 pages, Paperback
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