Overview
In today's volatile markets, managing risk is more important thanever. Investors are looking for downside protection whilemaintaining good returns--and market-neutral investing has becomeone of the hottest methods to meet that need. In this book,industry expert Joseph G. Nicholas explores new approaches toreturn enhancement and risk reduction through market-neutralstrategies.
Market-neutral investments are attractive because they haveproduced substantially better risk-adjusted returns than the marketduring the past ten years. The complexities created by thecombination of longs, shorts, and leverage, however, makemarket-neutral strategies very different from conventionalinvestments. Getting to know how these strategies work involvesbreaking them down into their basic components and then examininghow those parts interact as a system with specific behaviorcharacteristics. This book examines eight key strategies, revealingthe source of their past returns and giving the investor tools withwhich to measure the possibility of repeat performance.
Nicholas draws extensively on his company's database ofover three thousand hedge funds and from the dailyportfolio analysis conducted for hedge fund portfolios. He has alsoincorporated extensive input and actual investment examplesprovided by managers and practitioners of each of the strategiesdiscussed in the book.
This is the one book that looks at market-neutral strategieshead-on, assessing those that have worked and some notable onesthat have failed--and explaining why. Clear, insightful, andillustrated with numerous charts and graphs, Market-NeutralInvesting is an invaluable guide for professional investors.
Market-neutral investments are attractive because they haveproduced substantially better risk-adjusted returns than the marketduring the past ten years. The complexities created by thecombination of longs, shorts, and leverage, however, makemarket-neutral strategies very different from conventionalinvestments. Getting to know how these strategies work involvesbreaking them down into their basic components and then examininghow those parts interact as a system with specific behaviorcharacteristics. This book examines eight key strategies, revealingthe source of their past returns and giving the investor tools withwhich to measure the possibility of repeat performance.
Nicholas draws extensively on his company's database ofover three thousand hedge funds and from the dailyportfolio analysis conducted for hedge fund portfolios. He has alsoincorporated extensive input and actual investment examplesprovided by managers and practitioners of each of the strategiesdiscussed in the book.
This is the one book that looks at market-neutral strategieshead-on, assessing those that have worked and some notable onesthat have failed--and explaining why. Clear, insightful, andillustrated with numerous charts and graphs, Market-NeutralInvesting is an invaluable guide for professional investors.
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