Alternative Assets and Strategic Allocation (eBook)

Rethinking the Institutional Approach

John B. Abbink (Autor)

eBook Download: PDF

2010 | 1. Auflage
528 Seiten
John Wiley & Sons (Verlag)
978-0-470-87919-1 (ISBN)

Infos

An insightful guide to making strategic investment allocation
decisions that embraces both alternative and conventional assets

In this much-needed resource, alternative and portfolio
management expert John Abbink demonstrates new ways of analyzing
and deploying alternative assets and explains the practical
application of these techniques.

Alternative Assets and Strategic Allocation clearly shows
how alternative investments fit into portfolios and the role they
play in an investment allocation that includes traditional
investments as well. This book also describes innovative methods
for valuation as applied to alternatives that previously have been
difficult to analyze.

* Offers institutional investors, analysts, researchers,
portfolio managers, and financial academics a down-to-earth method
for measuring and analyzing alternative assets

* Reviews some of the latest alternatives that are increasing in
popularity, such as high-frequency trading, direct lending, and
long-term investment in real assets

* Outlines a strategic approach for including alternative
investments into portfolios and shows the pivotal role they play in
an investment allocation

Using the information found in this book, you'll have a clearer
sense of how to approach investment issues related to alternative
assets and discover what it takes to make these products work for
you.

Autor

JOHN B. ABBINK has twenty-nine years' experience in investment firms, including Merrill Lynch, Credit Suisse, and Deutsche Bank, and was formerly a senior vice president and director of manager research at National City Corporation. Abbink received his BA from Michigan State University and his PhD from Yale University.

Inhalt

List of Illustrations ix

Acknowledgments xiii

Introduction 1

What Is Alternative about Alternative Investments? 5

The Plan of This Book 11

PART ONE | ANALYTIC TOOLS

1 Risk and Return 17

2 Return Enhancement 37

3 Some Features of the Quantitative Toolkit 59

4 Risk Estimation 81

PART TWO | SOME EXAMPLES

5 Long/Short Equity 103

6 Direct Lending 123

7 Merger Arbitrage 141

8 High-Frequency Trading 161

9 Holding Private Assets for Their Cash Flows 183

10 Fixed-Income Arbitrage 199

11 Event-Driven Investment 217

PART THREE | POSITION MANAGEMENT

12 Investment Strategies in Practice 237

13 Optionality 253

14 Trade Capacity 271

15 Institutional Liquidity 287

16 Tactical Allocation 305

17 Portfolio Liquidity 323

18 Alternative Investments and Information Theory 343

PART FOUR | PORTFOLIO CONSTRUCTION

19 Classification of Investments 361

20 Diversification among Strategies 381

21 Multi-Dimensional Risk 403

22 Filling Out the Allocation 419

23 Time and Tide 433

24 Managing the Allocation Decision 451

25 Concluding Remarks 469

Bibliography 477

Index 487

Produkt-Details

• Erscheint lt. Verlag: 28.6.2010
• Reihe/Serie: Bloomberg
• Reihe/Serie: Bloomberg
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management
• Schlagworte: Finance & Investments • Finanz- u. Anlagewesen • Investments & Securities • Kapitalanlage • Kapitalanlagen u. Wertpapiere
• ISBN-10: 0-470-87919-X / 047087919X
• ISBN-13: 978-0-470-87919-1 / 9780470879191