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Hedge Funds: Quantitative Insights (The Wiley Finance Series)
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List Price:
$135.00
Pay Mortgages Price:
$85.05
Your Savings: $ 49.95 ( 37% )
Subject To Change Without Notice
Availability: Usually ships in 24 hours
Manufacturer: Wiley
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Average Customer Rating:   
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Binding: Hardcover
Dewey Decimal Number: 332.645
EAN: 9780470856673
ISBN: 047085667X
Label: Wiley
Manufacturer: Wiley
Number Of Items: 1
Number Of Pages: 354
Publication Date: 2004-07-23
Publisher: Wiley
Studio: Wiley
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Editorial Reviews:
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This primer on the analysis of hedge funds offers investors a more quantitative understanding of this topic, providing a complete guide to portfolio techniques, asset allocation, performance measurement and product selection in the alternative investment world. - Hedge funds are the fastest growing sector of the financial industry, and yet the least understood, by market professionals.
- Examines and popularises the results of several quantitative studies that have so far been confirmed within academic circles.
- Written by a highly regarded and impartial financial practitioner and academic, this will provide an excellent follow-on to Hedge Funds: Myths & Limits (Wiley 2002).
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Spotlight customer reviews:
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Customer Rating:
Summary: A solid quantitative starting point
Comment: If you come from a background of very limited knowledge about hedge funds, this book is a great first step. I had to read and study this book for my CAIA Level-1 exam.
The book covers a lot of MBA-level finance concepts and applies them to the fairly new world of hedge funds. It begins with risk and return statistics and continues on with covariance, correlation, and regression analysis. It delves into databases, indexes, and benchmarks, which is a pretty new concept in alternative assets, as well as style and cluster classification. It also considers hedge funds from a diversified portfolio perspective and deals a lot with risk budgeting and risk management.
It's a solid book and it a good first step if you're interested in the quantitative side of funds. The quantitative insights aren't that new for a student of finance, but they are taught from the perspective of applying them to the management of a fund. I would recommend this book to those who aren't already well-versed in finance and are interested in the basics of hedge funds.
Customer Rating:
Summary: A bit disappointing
Comment: Honestly I was surprised to see the book is founded on the mainstream economic theory when the hedge fund industry itself is an idealization of alternative thesis. There is no quantitative insight whatsoever into the hedge fund strategies there, even though the author does provide useful information for anyone interested in understanding the bits of this secretive industry. In my humble opinion, the book should have moved beyond those generic topics to how the quantitative models are derived and which fields of knowledge are assisting in that endeavour, ie quantum mechanics, chaos theory, etc. Instead of those interesting insights, I got a recap of what a MBA student learns in her first semester in finance class, coupled with some considerations about how to put upon the microsope the hedge fund historical data.
Notwithstanding all this, I am still confortable with 3 stars here because the area is still a black box and certainly is not easy to write a book on the topic without falling into the trap of vagueness since eventually all successful funds have tight non disclosure agreements with their R&D staff to prevent leaks. At the end, the public is only informed of those strategies and insights have lead to disaster in hedge fund collapse, ie LTCM in 98 while the sucessful quantitivative insights are kept secret at least until they prove unsuccessful.
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