Record Nr.

UNINA9910791003103321

Autore

Romero Philip J.

Titolo

What hedge funds really do : an introduction to portfolio management / / Philip J. Romero and Tucker Balch

Pubbl/distr/stampa


New York, New York (222 East 46th Street, New York, NY 10017) : , : Business Expert Press, , 2014

ISBN

1-63157-090-0

Edizione

[First edition.]

Descrizione fisica

1 online resource (148 pages)

Collana

Economics collection, , 2163-7628

Disciplina

332.6327

Soggetti

Hedge funds

Fons especulatius

Gestió de cartera

Portfolio management

Llibres electrònics

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Includes index.

Part of: 2014 digital library.

Nota di contenuto

Part I. The basics -- 1. Introduction -- 2. So you want to be a hedge fund manager -- 3. An illustrative hedge fund strategy: arbitrage -- 4. Market-making mechanics -- 5. Introduction to company valuation -- Part II. Investing fundamentals: CAPM and EMH -- 6. How valuation is used by hedge funds -- 7. Framework for investing: the capital asset pricing model (CAPM) -- 8. The efficient market hypothesis (EMH), its three versions -- 9. The fundamental law of active portfolio management -- Part III. Market simulation and portfolio construction -- 10. Modern portfolio theory: the efficient frontier and portfolio optimization -- 11. Event studies -- 12. Overcoming data quirks to design trading strategies -- 13. Data sources -- 14. Back testing strategies -- Part IV. Case study and issues -- 15. Hedge fund case study: long term capital management (LTCM) -- 16. Opportunities and challenges for hedge funds -- Teaching cases -- Glossary -- Summary -- Index.

Sommario/riassunto

What do hedge funds really do? These lightly regulated funds continually innovate new investing and trading strategies to take

advantage of temporary mispricing of assets (when their market price deviates from their intrinsic value). These techniques are shrouded in mystery, which permits hedge fund managers to charge exceptionally high fees. While the details of each fund's approach are carefully guarded trade secrets, this book draws the curtain back on the core building blocks of many hedge fund strategies.