Hedge Funds
Subtitle: An Analytic Perspective (Advances in Financial Engineering)
Publisher: Princeton University Press
Published: May 26, 2008
Language: eng
Format: Hardcover
Number of pages: 320
ISBN-13: 9780691132945
Subjects: Investment & securities; Business & Economics; Business / Economics / Finance; Business/Economics; Corporate Finance; Finance; Investments & Securities - Futures; Economics; Investments & Securities - General; Hedge funds
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 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 two new chapters, he looks at how the strategies for and regulation of hedge funds have changed in the aftermath of the financial crisis."--Pub. desc.