Alternative Investments: Instruments, Performance, Benchmarks, and Strategies 1st Edition

Historically low interest rates coupled with severe equity bear markets around the world have generated intense interest in alternative investments. With returns in traditional investment vehicles relatively low, many sophisticated investors view alternative investments as a means of meeting their return objectives. Alternative Investments: Instruments, Performance, Benchmarks, and Strategies—part of the Robert W. Kolb Series in Finance—can put you in a better position to achieve this difficult goal.

Engaging and accessible, this reliable guide contains the latest insights about alternative investments based on contributions by practitioners and academics who are experts in this area. To reinforce the information covered, each self-contained chapter concludes with a summary and discussion questions of key lessons. Along the way, this book skillfully addresses essential topics associated with this field, including the market for alternative investments, benchmarks, and historical performance as well as specific investment strategies and issues concerning performance evaluation and reporting.

Divided into five comprehensive parts, this book provides extensive coverage of alternative investments ranging from real estate and private equity to commodities, managed futures, and hedge funds. Chapter by chapter, it will help you:

• Determine the current market value of a particular alternative investment asset
• Develop your investment knowledge base with regard to real estate investment trusts (REITs), commercial real estate, mortgage-backed securities (MBS), and mezzanine loans and preferred equity investments
• Become familiar with the various investment activities and vehicles encompassing private equity, from distressed debt investing and buyout funds to venture and mezzanine capital
• Understand commodities as a financial asset as well as how commodity investing via managed futures can improve portfolio construction
• Discover the structure, history, performance, risks, and strategies of hedge funds, as well as a new nonlinear model of hedge fund returns that paves the way toward nonlinear replication

Alternative investing is a complex topic. Yet, by using this book as a guide, you will not only gain a broad understanding of the topic but also discover how to effectively apply alternative investments in real-world situations.

The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals. As part of the Robert W. Kolb Series in Finance, Alternative Investments aims to provide a comprehensive understanding of the essential elements associated with this important area of finance.

Filled with in-depth insights and practical advice, Alternative Investments provides a thorough look at the historical performance, benchmarks, and strategies associated with many of today’s most effective alternative investments. It offers valuable insights on the latest trends, research, and thinking in each major area, and empirical evidence on each type of alternative investment is featured.

Comprising five informative parts, this timely guide contains a detailed discussion of alternative investments, covering everything from real estate and private equity to commodities, managed futures, and hedge funds. Along the way, it will help you navigate through the key areas of alternative investments and show you how to balance their opportunities and risks.

Alternative investments provide a means of diversification, risk control, and return enhancement and, as such, are attractive to many sophisticated investors. If you are looking for an effective way to hone your skills in this dynamic area of finance, look no further than this book.