Hedge Funds: Insights in Performance Measurement, Risk Analysis, and Portfolio Allocation (Wiley Finance) [Hardcover]

Greg N. Gregoriou (Author), Georges Hübner (Author), Nicolas Papageorgiou (Author), Fabrice Douglas Rouah (Author)

Book Description

Publication Date: August 26, 2005 | ISBN-10: 0471737437 | ISBN-13: 978-0471737438 | Edition: 1

Whether already experienced with hedge funds or just thinking about investing in them, readers need a firm understanding of this unique investment vehicle in order to achieve maximum success. Hedge Funds unites over thirty of the top practitioners and academics in the hedge fund industry to provide readers with the latest findings in this field. Their analysis deals with a variety of topics, from new methods of performance evaluation to portfolio allocation and risk/return matters. Although some of the information is technical in nature, an understanding and applicability of the results as well as theoretical developments are stressed. Filled with in-depth insight and expert advice, Hedge Funds helps readers make the most of this flexible investment vehicle.

Editorial Reviews

From the Inside Flap

Over the last few years, hedge funds have become even more attractive to institutional and individual investors. Their performance in both bull and bear markets are second to none, and their risk/reward profiles make sense in today's dynamic financial environment.

Whether you're working with hedge funds or thinking about investing in them, you must have a firm understanding of this unique investment vehicle in order to achieve maximum success. In Hedge Funds, Editors Greg N. Gregoriou, Georges Hübner, Nicolas Papageorgiou, and Fabrice Rouah bring together over thirty of the top practitioners and academics in the hedge fund industry to provide you with the latest findings in this field.

Divided into five comprehensive parts, this guide reveals some of the most important issues encountered by today's academics and practitioners as they work with hedge funds. Their individual analysis deals with a variety of topics, from new methods of hedge fund performance evaluation to portfolio allocation and risk/return matters. Although some of the information is technical in nature, including econometric and statistical models, an understanding and applicability of the results as well as theoretical developments are stressed.

Topics discussed include:

• Integrating hedge funds into the traditional portfolio
• Hedge fund allocation under higher moment and illiquidity
• Applying securitization technology to hedge funds
• Common factor strategies for hedge funds
• Analysis of risk-adjusted performance of global assets
• Fat tail risk in portfolios of hedge funds
• Hedge funds and the stale pricing issue

Filled with in-depth insight and expert advice, Hedge Funds can help you—whether you're an institutional investor or high-net-worth individual—make the most of this flexible investment vehicle.

From the Back Cover

Praise for Hedge Funds

"Yet another excellent collection of research articles on risk management, performance measurement, portfolio allocation, and other quantitative issues related to hedge funds! This one is a must-read for anyone seriously fascinated by the world of hedge funds."
—Vikas Agarwal, Assistant Professor of Finance, J. Mack Robinson College of Business Georgia State University

"Our understanding of the properties of hedge funds as an asset class has improved enormously over the past few years, although many questions remain unanswered. This timely collection of important articles covers a broad range of topics including hedge fund investment, risk measurement, and performance appraisal. Academics and practitioners alike will find this a valuable source of cutting-edge thinking."
—Chris Brooks, Professor of Finance, Cass Business School, City University, London

"Despite the continuing vilification of hedge funds in the popular press, an increasing number of institutional and wealthy private investors are seeking to bifurcate their alpha and beta and diversify their exposure to equities and bonds. Investors are gaining traditional asset class exposure through low-cost, passive approaches and capturing a premium to that return through active investment management approaches in less-efficient markets like those within the domain of hedge funds. This book touches all aspects of this structural change in the investment management industry."
—Alexander M. Ineichen, CFA, CAIA, Managing Director, UBS Investment Research, and author of Absolute Returns

"The hedge fund industry is quickly evolving into a mature industry, no longer a cottage industry. Never before has such a comprehensive overview of the current hedge fund industry's critical issues been compiled. This compendium is a must-read for any serious institutional investor or asset manager."
—James Hedges, Founder, President, and Chief Investment Officer LJH Global Investments, LLC

"If you want to understand the sources of return and risk associated with hedge funds, then this is the book to own. A team of experts in the fields of statistics and finance dissect hedge funds from multiple points of view. This book is a must-read for anyone seeking to see how individual hedge funds and portfolios of hedge funds generate their returns."
—Richard E. Oberuc, Chairman, Foundation for Managed Derivatives Research

See all Editorial Reviews

Product Details

• Hardcover: 653 pages
• Publisher: Wiley; 1 edition (August 26, 2005)
• Language: English
• ISBN-10: 0471737437
• ISBN-13: 978-0471737438
• Product Dimensions: 9.4 x 6.3 x 2.1 inches
• Shipping Weight: 2.1 pounds (View shipping rates and policies)
• Amazon Best Sellers Rank: #712,507 in Books (See Top 100 in Books)

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