Book

Nicholas, Joseph G., 1959-

Market neutral investing : long/short hedge fund strategies / Joseph G. Nicholas.

1st ed.

Princeton : Bloomberg Press, 2000.

xx, 265 pages : illustrations ; 24 cm.

"This is a book that looks at market-neutral strategies head on, assessing those that have worked and some notable ones that have failed - and explaining why. Clear, insightful, and illustrated with numerous charts and graphs, Market-Neutral Investing is an essential resource for professional investors."--Jacket.

Bloomberg professional library

Bloomberg professional library.

Hedge funds -- United States.

Investment analysis.

Corporations -- Finance.

Business enterprises -- Finance.

Includes index.

Investing in Relationships -- What Is Market Neutral? -- Relationship Investing -- Understanding Market-Neutral Approaches -- Developments in the Hedge Fund Industry -- Hedge Fund Industry Assets -- Hedge Fund Investors -- Hedge Fund Strategies -- Making an Investment in Market-Neutral Strategies -- Linear Analysis of Returns -- Reducing Exposure to Risk -- Market-Neutral and Hedged Strategies -- Convertible Arbitrage -- Fixed-Income Arbitrage -- Mortgage-Backed Securities Arbitrage -- Merger Arbitrage -- Equity Hedge -- Equity Market-Neutral and Statistical Arbitrage -- Relative Value Arbitrage -- Achieving Superior Risk-Adjusted Returns -- Assessing the Risks -- Transparency -- Focusing on the Underlying Strategies -- Convertible Arbitrage -- Convertible Bond Valuation -- Statistical Advantage -- Convertible Valuation Components -- Convertible Arbitrage Approaches -- Quantitative Screens -- Kinds of Hedges -- Setting Up a Market-Neutral Hedge -- Setting up a Bullish Hedge -- Setting up a Bearish Hedge -- Risks and Risk Control -- Fundamental Analysis -- Hedge Analysis -- Portfolio Construction -- Liquidity -- Leverage -- Source of Return -- Convertible Bond Market History -- Recent Growth and Developments in Convertible Arbitrage -- Performance in Adverse Market Conditions -- Historical Examples -- Fixed-Income Arbitrage -- Fixed-Income Arbitrage Approaches -- Basis Trades -- Asset Swaps -- TED Spreads -- Yield Curve Arbitrage -- Relative Value Trades -- Risks and Risk Control -- Risks -- Measuring and Controlling Interest Rate Risk -- Sources of Return -- Financing -- Repurchase Agreements -- Technology -- Liquidity -- Events -- Manager Skill and Hard Work -- Growth and Recent Developments in Fixed-Income Arbitrage -- Mortgage-Backed Securities Arbitrage -- Mortgage-Backed Structures or Sectors (Types of MBS Instruments) -- Mortgage-Backed Securities' Evolution -- Pass-Throughs -- Basic Collateralized Mortgage Obligations (CMOs) -- CMO Tranches -- Valuation Methods -- Option-Adjusted Spreads -- Information Systems -- Risks and Risk Control -- Duration -- Effective and Partial Duration -- Parallel and Rotational Shifts of the Yield Curve -- Convexity -- Prepayment Duration -- Pricing -- Source of Return -- Valuation Models -- Liquidity -- Financing -- Hedging Techniques -- Recent Developments in MBS Arbitrage -- Merger Arbitrage -- Merger Arbitrage Approaches -- Cash Mergers or Tender Offers -- Stock Swap Mergers -- Stock Swap Mergers with a Collar -- Multiple Bidder Situations -- Leveraged Buyouts and Hostile Takeovers -- Risks -- Event Risk -- Deal Flow -- Liquidity -- Risk Control -- Diversification -- Leverage -- Source of Return -- Growth and Recent Developments in Merger Arbitrage -- Deal Flow and Other Factors Affecting Volume -- Stress Period: The Third Quarter of 1998 -- Returns -- Equity Hedge -- Investment Themes and Fundamental Analysis -- Investment Themes -- Fundamental Analysis -- Equity Hedge Approaches -- Quantitative vs. Qualitative Mix -- Universe of Stocks -- Style -- Liquidity -- Net Market Exposure -- Research -- Leverage -- Risks and Risk Control -- Stock-Picking Risk -- Market Risk -- Universe of Stocks -- Diversification -- Sell Disciplines -- Source of Return -- Recent Growth and Developments in Equity Hedge Investing -- Equity Market-Neutral and Statistical Arbitrage -- Equity Market-Neutral Approaches -- Initial Screen: Universe of Investable Stocks -- Stock Selection -- Mean Reversion-Based Approaches -- Risks and Risk Control -- Portfolio Construction and Optimization -- Manager Styles--Putting It All Together -- Source of Return -- Recent Growth and Developments in Equity Market-Neutral Investing -- Relative Value Arbitrage -- Relative Value Arbitrage Approaches -- Convertible Arbitrage -- Merger Arbitrage -- Equity Statistical Arbitrage -- Pairs Trading -- Fixed-Income Arbitrage -- Options and Warrants Trading -- Capital Structure Arbitrage -- Regulation D (Structured Discount Converti ble) Arbitrage -- Risks and Risk Control -- Strategy Mix -- Strategy Weightings -- Source of Return -- Growth and Recent Developments in Relative Value Arbitrage.

Publisher description

00037952

1576600378

9781576600375

43811350

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0

1

124424

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332.64 Nicholas