Alternative Assets and Strategic Allocation : Rethinking the Institutional Approach

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2010-08-02
  • Publisher: Bloomberg Press
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The usual investment fare no longer holds. A market in turmoil requires fresh ideas and innovation. Institutional investors have for too long stuck with investments that are poorly equipped to deal with volatile markets. To remain competitive, these investors must look to the tools of the new investment age. John B. Abbink details innovative ways to measure and analyze alternative assets and walks the reader through the practical application of these techniques. He then reviews some of the latest alternatives rising in popularity, for better or worse, including high-frequency trading, event-driven investment, direct lending, and more.

Author Biography

John B. Abbink has worked at leading financial firms, including Merrill Lynch, Credit Suisse, and Deutsche Bank, and was formerly a senior vice president and director of manager research at the National City Corporation, a subsidiary of the PNC Financial Services Group.  Abbink received his BA from Michigan State University in 1976 and his PhD from Yale University in 1981.

Table of Contents

List of Illustrationsp. ix
Acknowledgmentsp. xiii
Introductionp. 1
What Is Alternative about Alternative Investments?p. 5
The Plan of This Bookp. 11
Analytic Tools
Risk and Returnp. 1
Return Enhancementp. 37
Some Features of the Quantitative Toolkitp. 59
Risk Estimationp. 81
Some Examples
Long/Short Equityp. 103
Direct Lendingp. 123
Merger Arbitragep. 141
High-Frequency Tradingp. 161
Holding Private Assets for Their Cash Flowsp. 183
Fixed-Income Arbitragep. 199
Event-Driven Investmentp. 217
Position Management
Investment Strategies in Practicep. 237
Optionalityp. 353
Trade Capacityp. 271
Institutional Liquidityp. 287
Tactical Allocationp. 305
Portfolio Liquidityp. 323
Alternative Investments and Information Theoryp. 343
Portfolio Construction
Classification of Investmentsp. 361
Diversification among Strategiesp. 381
Multi-Dimensional Riskp. 403
Filling Out the Allocationp. 419
Time and Tidep. 433
Managing the Allocation Decisionp. 451
Concluding Remarksp. 469
Bibliographyp. 477
Indexp. 487
Table of Contents provided by Ingram. All Rights Reserved.

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