The Handbook of Alternative Assets [Hardcover]

Mark J. Anson PhD CFA (Author), Mark Anson (Author)

Book Description

ISBN-10: 047121826X | ISBN-13: 978-0471218265 | Publication Date: May 15, 2002 | Edition: 1st

This book discusses and describes four types of alternative assets: hedge funds, private equity, credit derivatives, and commodity futures. Hedge funds and private equity are the best known of the alternative assets, but certainly not the only alternative assets available. The author explores each one of these alternative asset classes in detail, providing practicaal advice along with useful research.

Editorial Reviews

From the Inside Flap

The Handbook of Alternative Assets merges the data and strategies of four key alternative asset classes into one handy guide for the serious investor. This concise handbook classifies four types of alternative assets: hedge funds, commodity and managed futures, private equity, and credit derivatives, and shows you how these assets can be used to hedge and expand any portfolio. Organized by sections-one for each alternative asset class-the Handbook of Alternative Assets explores four of the major alternative asset classes in detail, while providing expert advice along the way.

The Handbook of Alternative Assets opens with a review of hedge funds-providing a brief history of the birth of hedge funds and an introduction to the various types of hedge fund investment strategies. This section also provides practical guidance for selecting hedge funds and conducting due diligence. Through these and many other discussions, you'll learn how to build a hedge fund investment program, analyze hedge fund return distributions, and manage some of the risks associated with hedge fund investments.

The second section of this practical handbook is devoted entirely to commodity and managed futures. After a brief review of the economic value inherent in commodity futures contracts, you'll become familiar with the three sources of value associated with them and understand how they can help to diversify a portfolio. In addition to discussing the benefits of managed futures, long and short commodity futures are also explained.

You'll gain a firm grasp of private equity by learning about the four traditional sources of private equity: venture capital, leveraged buyouts, mezzanine financing, and distressed debt, as well as new venues of private equity such as crossover funds, PIPES, interval funds, and private equity investments in private equity. Analysis of these various types of private equity investments and a review of the business and due diligence issues associated with them give you the most well-rounded approach to private equity that is currently available.

The final section of the Handbook of Alternative Assets is devoted to credit derivatives. This section includes a review of the importance of credit risk, some of the new instruments that allow you to access the credit markets, and the role of credit derivatives within a diversified portfolio.

Written by a professional for professionals, the Handbook of Alternative Assets discusses the pros and cons of alternative assets, and outlines strategies for incorporating these assets into a diversified portfolio. With expert advice and proven techniques this comprehensive handbook will help any professional match alternative assets with various investment goals.

From the Back Cover

The Definitive 4-in-1 Reference Guide to Alternative Assets

Many books cover individual alternative asset classes, but none offers a comprehensive examination of the four major classes as presented in the Handbook of Alternative Assets. This complete handbook merges data and strategies scattered in numerous volumes into one handy guide for the serious investor. The four major classes discussed are:
* Hedge funds
* Commodity and managed futures
* Private equity
* Credit derivatives

Organized by sections-one for each alternative asset class-the Handbook of Alternative Assets demonstrates the benefits and risks of each alternative asset and reveals how these asset classes can be incorporated into a diversified portfolio.

Through expert advice, the Handbook of Alternative Assets details each of four major alternative asset classes and breaks down their quantitative statistical value as well. With this comprehensive handbook on your desk, you'll begin to use alternative asset classes to both hedge and expand any portfolio.

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Product Details

• Hardcover: 502 pages
• Publisher: Wiley; 1st edition (May 15, 2002)
• Language: English
• ISBN-10: 047121826X
• ISBN-13: 978-0471218265
• Product Dimensions: 8.8 x 6.7 x 1.6 inches
• Shipping Weight: 1.7 pounds
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #904,359 in Books (See Top 100 in Books)

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Most Helpful Customer Reviews

41 of 45 people found the following review helpful:

5.0 out of 5 stars Truely a Handbook, February 16, 2004

By 

Avinash P. Mulye (Santa Clara, CA United States) - See all my reviews
(REAL NAME)   

This review is from: The Handbook of Alternative Assets (Hardcover)

.
I used this book for my preparations towards CAIA Level 1 exam. And I am impressed. Mr. Anson is an authority and this is truely a great book for Alternative Investment aspirants.

If you want to have a very solid grasp of any of the following alternative investment approaches then this is the book you should turn to -

Hedge funds
Commodity and managed futures
Private equity (5 catagories)
....Venture Capital
....LBOs
....Mezzannine Financing
....Distressed Debt

....CrossOver/Interval/PIPE and PEPE funds
Credit derivatives
Corporate Governance

Mr. Anson helps you build strong fundamentals. Actually he clearly explains what constitutes Alternative Assets(Aha !!!) as against fundamental and/or capital assets and what is meant by alternative investment strategies.

This is followed by a rigorous analysis of the topics listed above in that order.

I particularly enjoyed his coverage of Hedge Funds. He explains each of the 10 Hedge Fund strategies in a systematic fashion. From a variety of angles including Market(S&P500), Risk, Regulatory, Due Diligence/Operational/Administrative perspective.

The coverage of Commodity Derivatives is also superb. Although confined to 4 chapters this coverage is sufficient to gain an intermediate level insight into the Commodities.

The coverage for Private Equity is less comprehensive(but good) compared to it's actual scope in real world. I particularly expected a more rigorous coverage for LBOs.

Although I did not touch credit derivatives and CorpGov I could tell you for sure that these topics must have been covered well.
As I read 19 out of 22 chapters.

To put it in a nutshell - This is a very good book for Hedge fund aspirants and prospective Alternative investment professionals.

For more info about CAIA please visit www.caia.org.