Alternative Assets and Strategic Allocation – Rethinking the Institutional Approach
Rethinking the Institutional Approach
Gebonden Engels 2010 9781576603680Samenvatting
An insightful guide to making strategic investment allocation decisions that embraces both alternative and conventional assets
In this much–needed resource, alternative and portfolio management expert John Abbink demonstrates new ways of analyzing and deploying alternative assets and explains the practical application of these techniques.
Alternative Assets and Strategic Allocation clearly shows how alternative investments fit into portfolios and the role they play in an investment allocation that includes traditional investments as well. This book also describes innovative methods for valuation as applied to alternatives that previously have been difficult to analyze.
Offers institutional investors, analysts, researchers, portfolio managers, and financial academics a down–to–earth method for measuring and analyzing alternative assets
Reviews some of the latest alternatives that are increasing in popularity, such as high–frequency trading, direct lending, and long–term investment in real assets
Outlines a strategic approach for including alternative investments into portfolios and shows the pivotal role they play in an investment allocation
Using the information found in this book, you′ll have a clearer sense of how to approach investment issues related to alternative assets and discover what it takes to make these products work for you.
Specificaties
Lezersrecensies
Inhoudsopgave
<p>Acknowledgments xiii</p>
<p>Introduction 1</p>
<p>What Is Alternative about Alternative Investments? 5</p>
<p>The Plan of This Book 11</p>
<p>PART ONE | ANALYTIC TOOLS</p>
<p>1 Risk and Return 17</p>
<p>2 Return Enhancement 37</p>
<p>3 Some Features of the Quantitative Toolkit 59</p>
<p>4 Risk Estimation 81</p>
<p>PART TWO | SOME EXAMPLES</p>
<p>5 Long/Short Equity 103</p>
<p>6 Direct Lending 123</p>
<p>7 Merger Arbitrage 141</p>
<p>8 High–Frequency Trading 161</p>
<p>9 Holding Private Assets for Their Cash Flows 183</p>
<p>10 Fixed–Income Arbitrage 199</p>
<p>11 Event–Driven Investment 217</p>
<p>PART THREE | POSITION MANAGEMENT</p>
<p>12 Investment Strategies in Practice 237</p>
<p>13 Optionality 253</p>
<p>14 Trade Capacity 271</p>
<p>15 Institutional Liquidity 287</p>
<p>16 Tactical Allocation 305</p>
<p>17 Portfolio Liquidity 323</p>
<p>18 Alternative Investments and Information Theory 343</p>
<p>PART FOUR | PORTFOLIO CONSTRUCTION</p>
<p>19 Classification of Investments 361</p>
<p>20 Diversification among Strategies 381</p>
<p>21 Multi–Dimensional Risk 403</p>
<p>22 Filling Out the Allocation 419</p>
<p>23 Time and Tide 433</p>
<p>24 Managing the Allocation Decision 451</p>
<p>25 Concluding Remarks 469</p>
<p>Bibliography 477</p>
<p>Index 487</p>
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