tailieunhanh - Market Neutral Strategies

Most investors, when they hear the term “market neutral,” think of strategies that simultaneously go long and short equities in order to eliminate stock market risk. True enough. But Market Neutral Strategies goes beyond equities to provide a comprehensive review of the full range of these strategies. | Market Neutral Strategies WILEY Bruce I. Jacobs Kenneth N. Levy editors With a Foreword by Mark Anson PhD Chief Investment Officer CalPERS Additional Praise for Market Neutral Strategies Market Neutral Strategies surpasses its mission. Bruce Jacobs Ken Levy and their contributing authors elucidate the sources of potential alpha for a breadth of strategies as well as the origins of prior miscues. At long last there is a single volume that is a practical and comprehensive guide for investors who want to explore or to learn more about market neutral and a valuable reference for seasoned investors. Edgar J. Sullivan . CFA Managing Director Absolute Return Strategies General Motors Asset Management Jacobs and Levy have once again shown their commitment to advancing the practice of investment management by producing a comprehensive thought-leading treatment of market neutral investing. The well-selected authors provide timely guidance on what we as institutional investors are challenged to think and act upon namely a clear understanding of the various sources of risk the decisions to be taken between market beta and active alpha risk and the application of the same in the prudent allocation of risk within our portfolios. Thomas F. Obsitnik CFA Investment Advisor Pension and Benefit Investments Eli Lilly and Company Many institutional investors are attracted to market neutral strategies not only because of their impressive performance but also because they enable investors to separate management of market risk beta from selection risk alpha . In Market Neutral Strategies an impressive line-up of respected practitioners provides an excellent overview of all major aspects of these strategies. Importantly the book underscores that their power lies in an integrated approach and not a simple combination of long and short port-folios a fact too often ignored. This excellent and highly relevant publication provides practical answers to practical problems and I recommend it