Alternative Investments
Alternative Investments
Expanding Frontiers
About the Book
This graduate-level textbook offers a comprehensive guide to alternative investments for both institutional and individual investors. Explore diverse strategies for accessing returns that are largely uncorrelated with traditional asset classes, providing potential diversification benefits and enhanced risk-adjusted portfolio performance.
About the Author
Table of Contents
- 1. INTRODUCTION
- 2. PRIVATE EQUITY
- 3. PRIVATE CREDIT AND DISTRESSSED DEBT
-
4. REAL ESTATE
- Key Points
- Overview
- Real Estate Equity Overview
- Real Estate Equity Style Analysis
- Real Estate Development & Commercial Real Estate Valuation Approaches
- Valuations and Appraisals
- Alternative Real Estate Investment Vehicles
- Indexes
- Smoothed Return Series
- Review Questions
- References
- Resources
- Crowdfunding Platforms & REITs
- Appendix: More on Autocorrelation and Illiquid Assets
- 5. REAL ASSETS
- 6. HEDGE FUNDS
- 7. DIGITAL ASSETS
- Optional Digital Assets Chapter Appendix
- 8. STRUCTURED PRODUCTS
- APPENDIX 1: Performance Measurement for Alternatives
-
APPENDIX 2: OLS, CAPM, and Multi Factor Models
- Chapter Outline
- Key Takeaways
- Ordinary Least Squares Regression and the Capital Asset Pricing Model
- Multifactor Alternatives to the CAPM and Theoretical Rationales
- 1 Roll’s Critique
- 2 Arbitrage Pricing Theory
- 3 Omitted Variables Bias (OVB)
- 4 The Fama-French 5-Factor Model
- Long-Short Mimicking Portfolios
- Malhotra Summary: Ex-Post Empirical Analysis Illustration
- Market Efficiency, Anomalies and the Factor Zoo
- Review Questions
- Mapping Factor Exposures Optional
- What the Experts were Saying in 2023 Optional
- References
- Appendix 1: Factor Rationales
- Appendix 2: Factor Construction Details from the Kenneth French Data Library Page
- RESOURCES
- APPENDIX 3 Asset Allocation
- GLOSSARY
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