- Hardcover: 364 pages
- Publisher: Princeton University Press; illustrated edition edition (28 April 2008)
- Language English
- ISBN-10: 0691132941
- ISBN-13: 978-0691132945
- Product Dimensions: 23.5 x 16.5 x 2.8 cm
- Amazon Bestsellers Rank: 714,735 in Books (See Top 100 in Books)
- See Complete Table of Contents
Hedge Funds
and over one million other books are available for Amazon Kindle .
Learn more
| ||||||||||||||||||||
Did you know you can trade in your old books for an Amazon.co.uk Gift Card to spend on the things you want? Plus, get an extra £5 Gift Certificate when you trade in books worth £10 or more before June 30, 2012. Visit the Books Trade-In Store for more details. |
Product details |
More About the Author
Product Description
Review
Anyone who is considering investing in hedge funds, or is involved in regulating the financial-services industry, should give it a go. -- "The Economist
The book is the authoritative distillation into an accessible form of a huge amount of academic research and practical experience. . . . Professor Lo gives a masterful illustration of the problems in gauging hedge fund performance with his famous fantasy fund Capital Decimation Partners. -- Steven Bell, The Business Economist
For scholars already familiar with the concepts of modern portfolio theory, the book is a good start in a quest to expand their knowledge of hedge funds strategies. . . . As one of the leading researchers in the field, Lo sets the standard by establishing key concepts for the industry with this book. -- Marcel Möllenbeck, Financial Markets and Portfolio Management
The book is the authoritative distillation into an accessible form of a huge amount of academic research and practical experience. . . . Professor Lo gives a masterful illustration of the problems in gauging hedge fund performance with his famous fantasy fund Capital Decimation Partners. -- Steven Bell, The Business Economist
For scholars already familiar with the concepts of modern portfolio theory, the book is a good start in a quest to expand their knowledge of hedge funds strategies. . . . As one of the leading researchers in the field, Lo sets the standard by establishing key concepts for the industry with this book. -- Marcel Möllenbeck, Financial Markets and Portfolio Management
Product Description
The hedge fund industry has grown dramatically over the last two decades, with more than eight thousand funds now controlling close to two trillion dollars. Originally intended for the wealthy, these private investments have now attracted a much broader following that includes pension funds and retail investors. Because hedge funds are largely unregulated and shrouded in secrecy, they have developed a mystique and allure that can beguile even the most experienced investor. In Hedge Funds, Andrew Lo--one of the world's most respected financial economists--addresses the pressing need for a systematic framework for managing hedge fund investments.
Arguing that hedge funds have very different risk and return characteristics than traditional investments, Lo constructs new tools for analyzing their dynamics, including measures of illiquidity exposure and performance smoothing, linear and nonlinear risk models that capture alternative betas, econometric models of hedge fund failure rates, and integrated investment processes for alternative investments. He concludes with a case study of quantitative equity strategies in August 2007, and presents a sobering outlook regarding the systemic risks posed by this industry.
Inside This Book
(Learn More)
First Sentence
It is clear from Chapter 1 that hedge funds exhibit unique and dynamic characteristics that bear further study. Read the first page Browse Sample Pages
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
It is clear from Chapter 1 that hedge funds exhibit unique and dynamic characteristics that bear further study. Read the first page Browse Sample Pages
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
Suggested Tags from Similar Products(What's this?)Be the first one to add a relevant tag (keyword that's strongly related to this product)
|
What Other Items Do Customers Buy After Viewing This Item?
Customer Reviews
There are no customer reviews yet on Amazon.co.uk.
5 star
4 star
3 star
2 star
1 star
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
4 reviews
6 of 6 people found the following review helpful
Not as Interesting As One Would Think
25 Dec 2008
Format:Hardcover
Let me start by saying that for someone wanting to learn about hedge funds, this book will still give you a decent amount of knowledge and a lot of empirical results. In fairness, the author has done a good amount of research on the subject, but I did not get the sense of a compelling consensus that these results are robust. What this book is good for is to gain an understanding of the databases that provide useful hedge fund information. So if you want to conduct your own empirical studies, yo will know where to go. This book does not seem to be as exceptional as the author's other books (e.g. Econometrics of Financial Markets).
1 of 1 people found the following review helpful
Meeeeh
15 Dec 2010
Format:Hardcover|Amazon Verified Purchase
While I did appreciate the dialog describing the August 2007 failure I didn't purchase the book for its interpretation of history.
The rear cover assured me this book was "the high water mark in the analysis of hedge funds for years to come". To the contrary, I felt it did not even offer relevant exposure to current practices relevant to hedge funds and quants. To be fair, this 2007 publication is now three years old. The treatment of illiquidity and optimal liquidity was interesting, but stopped short after presenting the theory. IMO, practical implementation concerns and concrete examples set apart the quality texts and I just didn't see that with this book.
Probably worth the $40 or so that I paid for it...but just barely.
The rear cover assured me this book was "the high water mark in the analysis of hedge funds for years to come". To the contrary, I felt it did not even offer relevant exposure to current practices relevant to hedge funds and quants. To be fair, this 2007 publication is now three years old. The treatment of illiquidity and optimal liquidity was interesting, but stopped short after presenting the theory. IMO, practical implementation concerns and concrete examples set apart the quality texts and I just didn't see that with this book.
Probably worth the $40 or so that I paid for it...but just barely.
13 of 23 people found the following review helpful
real analysis on hedge funds - no fluff
23 Jun 2008
Format:Hardcover|Amazon Verified Purchase
This is a thorough analysis of a number of different hedge fund strategies and a preview of the topics likely to be heavily discussed by hedge fund managers, pension plans as they move into the space, consultants advising plans, and fund of funds players.
Puts alot of meat on the bones of many issues those in the hedge fund business are currently discussing and grappling with in order to refine their business processes.
Very well researched and well written. Good analysis of the debacle of quant funds in 2007.
Puts alot of meat on the bones of many issues those in the hedge fund business are currently discussing and grappling with in order to refine their business processes.
Very well researched and well written. Good analysis of the debacle of quant funds in 2007.
Were these reviews helpful?
Let us know
Listmania!
Look for similar items by category
Look for similar items by subject
Feedback
- Would you like to update product info or give feedback on images?
- I am the Author, and I want to comment on my book.
- I am the Publisher, and I want to comment on this book.
|
