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Alternative investments : CAIA level I /

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Bibliographic Details
Main Authors: Chambers, Donald R. (Author), Anson, Mark Jonathan Paul (Author), Black, Keith H. (Author)
Corporate Author: EBSCOhost
Format: eBook
Language:English
Published: Hoboken, New Jersey : John Wiley & Sons, Inc., [2020]
Edition:Fourth edition.
Series:The Wiley finance
Subjects:
Investments.
Securities.
Portfolio management.
Electronic books.
Online Access:Connect to the full text of this electronic book
Table of Contents:
  • Intro
  • Alternative Investments
  • Contents
  • Preface
  • Foundation
  • Benefits
  • The CAIA Programs and the CAIA Alternative Investment Analyst Series
  • Acknowledgments
  • About the Authors
  • PART 1 Introduction to Alternative Investments
  • CHAPTER 1 What Is an Alternative Investment?
  • 1.1 ALTERNATIVE INVESTMENTS BY EXCLUSION
  • 1.2 ALTERNATIVE INVESTMENTS BY INCLUSION
  • 1.2.1 Real Assets
  • 1.2.2 Hedge Funds
  • 1.2.3 Private Equity
  • 1.2.4 Structured Products
  • 1.2.5 Limits on the Categorizations
  • 1.3 THE BLURRED LINES BETWEEN TRADITIONAL AND ALTERNATIVE INVESTMENTS
  • 1.4 A HISTORY OF ALTERNATIVE INVESTING: THE U.S. CASE
  • 1.5 INVESTMENTS ARE DISTINGUISHED BY RETURN CHARACTERISTICS
  • 1.5.1 Diversification
  • 1.5.2 Illiquidity
  • 1.5.3 Inefficiency
  • 1.5.4 Non-Normality
  • 1.6 INVESTMENTS ARE DISTINGUISHED BY METHODS OF ANALYSIS
  • 1.6.1 Return Computation Methods
  • 1.6.2 Statistical Methods
  • 1.6.3 Valuation Methods
  • 1.6.4 Portfolio Management Methods
  • 1.7 EIGHT OTHER CHARACTERISTICS THAT DISTINGUISH ALTERNATIVE AND TRADITIONAL INVESTMENTS
  • 1.8 FIVE GOALS OF ALTERNATIVE INVESTING
  • 1.8.1 Adding Value through Active Management
  • 1.8.2 Achieving Absolute and Relative Returns
  • 1.8.3 Pursuing Arbitrage and Return Enhancement
  • 1.8.4 Reduced Risk through Diversification
  • 1.8.5 Avoiding Obsolescence
  • 1.9 TWO PILLARS OF ALTERNATIVE INVESTMENT MANAGEMENT
  • 1.9.1 Empirical Analysis
  • 1.9.2 Economic Reasoning
  • 1.9.3 Viewing Alternative Assets in a 22 Framework
  • 1.10 OVERVIEW OF THIS BOOK
  • REVIEW QUESTIONS
  • CHAPTER 2 The Environment of Alternative Investments
  • 2.1 THE PARTICIPANTS
  • 2.1.1 The Buy Side
  • 2.1.2 The Sell Side
  • 2.1.3 Outside Service Providers
  • 2.2 ALTERNATIVE INVESTMENT STRUCTURES
  • 2.2.1 Limited Liability and Passive Investments
  • 2.2.2 Corporations and Limited Liability Companies
  • 2.2.3 Limited Partnership Structures
  • 2.2.4 Bankruptcy-Remote Entities
  • 2.2.5 Entities Facilitating Investor Taxation Differences
  • 2.3 KEY FEATURES OF FUND STRUCTURES
  • 2.3.1 The Four Key Partnership Documents
  • 2.3.2 Corporate Governance in Private Funds
  • 2.3.3 Investment Objectives, Fund Size, and Fund Terms
  • 2.3.4 Management Fees and Expenses
  • 2.3.5 Global Regulations and Fund Structures
  • 2.4 FINANCIAL MARKETS
  • 2.4.1 Primary Capital Markets
  • 2.4.2 Secondary Capital Markets
  • 2.4.3 Third and Fourth Private Markets
  • 2.5 REGULATORY ENVIRONMENT
  • 2.5.1 Five Primary Forms of Hedge Fund Regulation
  • 2.6 LIQUID ALTERNATIVE INVESTMENTS
  • 2.6.1 The Spectrum of Liquid Alternatives Products
  • 2.6.2 Growth and Growth Factors in Liquid Alternatives
  • 2.6.3 Three Constraints against Achieving Alternative Investment Benefits through Liquid Products
  • 2.6.4 Four Factors Determining Performance of Liquid Alternatives Compared to Private Placements
  • 2.6.5 Empirical Analysis of Liquid Alternative Investment Performance
  • 2.7 TAXATION