Alternative Investments

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.