{"product_id":"managing-hedge-fund-managers-quantitative-and-qualitative-performance-measures-hardback-9780470197592","title":"Managing Hedge Fund Managers; Quantitative and Qualitative Performance Measures (Hardback) 9780470197592","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eManaging Hedge Fund Managers\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eQuantitative and Qualitative Performance Measures\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eE. J. Stavetski (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780470197592, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 9 April 2009\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e272 pages, Drawings: 15 B\u0026amp;W, 0 Color; Tables: 34 B\u0026amp;W, 0 Color\u003cbr\u003e23.4 x 16.4 x 2.6 cm, 0.452 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"…a comprehensive guide to the process of selecting hedge fund managers, and it flings open doors into a traditionally secretive world.\" (\u003ci\u003eThe Investment Professional\u003c\/i\u003e)\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eInvaluable insight into measuring the performance of today's hedge fund manager\u003cbr\u003e \u003cbr\u003e More and more institutional funds and high-net-worth assets are finding their way to hedge funds. This book provides the quantitative and qualitative measures and analysis that investment managers, investment advisors, and fund of fund managers need to allocate and monitor their client's assets properly. It addresses important topics such as Modern Portfolio Theory (MPT) and Post Modern Portfolio Theory (PMPT), choosing managers, watching performance, and researching alternate asset classes. Author Edward Stavetski also includes an appendix showing detailed case studies of hedge funds, and gives readers a road map to monitor their investments.\u003cbr\u003e \u003cbr\u003e Edward J. Stavetski (Wayne, PA) is Director of Investment Oversight for Wilmington Family Office, serving ultra high-net-worth families in strategic asset allocation, traditional and alternative investment manager selection, and oversight.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePreface.  \u003cp\u003eHighlights of the Book.\u003c\/p\u003e \u003cp\u003eAcknowledgments.\u003c\/p\u003e \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003eThe Art and Science of Hedge Fund Investing—Are You Precisely Wrong or Approximately Correct?\u003c\/p\u003e \u003cp\u003eThe Explosion of Hedge Funds.\u003c\/p\u003e \u003cp\u003eWhat are Hedge Funds?\u003c\/p\u003e \u003cp\u003eFinding a Comfort Zone.\u003c\/p\u003e \u003cp\u003eA Look beneath the (Book) Covers.\u003c\/p\u003e \u003cp\u003eAs You Begin.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1. Asset Allocation and Fiduciary Duty.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvestment Policy Statement: The Roadmap.\u003c\/p\u003e \u003cp\u003eDeterminants of Portfolio Performance.\u003c\/p\u003e \u003cp\u003eWhy Alternate Investments?\u003c\/p\u003e \u003cp\u003eA Closer Look at Hedge Fund Structures.\u003c\/p\u003e \u003cp\u003eThe Rise of Socially Responsible Investing.\u003c\/p\u003e \u003cp\u003eFiduciary Responsibility.\u003c\/p\u003e \u003cp\u003eWhere Do I Start?\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2. Large Versus Small Funds.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGood Things in Small Packages.\u003c\/p\u003e \u003cp\u003eResearch Confirms Small Fund Advantage.\u003c\/p\u003e \u003cp\u003ePerformance of New Small Funds.\u003c\/p\u003e \u003cp\u003eAttrition Rates.\u003c\/p\u003e \u003cp\u003eDrivers of Outperformance.\u003c\/p\u003e \u003cp\u003eInvested Interests.\u003c\/p\u003e \u003cp\u003eAligned Interests.\u003c\/p\u003e \u003cp\u003ePoint of Diminishing Returns.\u003c\/p\u003e \u003cp\u003eMaster of Trend line Analysis.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3. The Search for an Honest Man.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinding Your Manager.\u003c\/p\u003e \u003cp\u003ePrime Brokers.\u003c\/p\u003e \u003cp\u003eConferences and Industry Events.\u003c\/p\u003e \u003cp\u003eIndustry Publications.\u003c\/p\u003e \u003cp\u003eIncubators and Platforms.\u003c\/p\u003e \u003cp\u003eIndustry Websites and Databases.\u003c\/p\u003e \u003cp\u003eBuilding Your Own Database.\u003c\/p\u003e \u003cp\u003eUnconventional Sources.\u003c\/p\u003e \u003cp\u003eSix Steps to Kevin Bacon.\u003c\/p\u003e \u003cp\u003eSizing up the Flock.\u003c\/p\u003e \u003cp\u003eWhat's in the DDQ?\u003c\/p\u003e \u003cp\u003eSummary.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4. Performance Analysis.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTorturing the Numbers Until They Confess.\u003c\/p\u003e \u003cp\u003eThe First Step: Understand What Is Being Measured.\u003c\/p\u003e \u003cp\u003eTwo Sides to Hedge Fund Performance: Long and Short.\u003c\/p\u003e \u003cp\u003ePerformance Standards.\u003c\/p\u003e \u003cp\u003eCheck the Entry\u003c\/p\u003e \u003cp\u003eFinding a Benchmark\u003c\/p\u003e \u003cp\u003ePeer Analysis\u003c\/p\u003e \u003cp\u003eConfusion from the Best and the Brightest?\u003c\/p\u003e \u003cp\u003eA Practitioners View.\u003c\/p\u003e \u003cp\u003eExamine the Bad.\u003c\/p\u003e \u003cp\u003eExamine the Good.\u003c\/p\u003e \u003cp\u003eExpect the Improbable.\u003c\/p\u003e \u003cp\u003eI Surrender.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5. Risk in Hedge Funds.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRisk Is Like the Weather: Everyone Talks About It, but No One Does Anything About It.\u003c\/p\u003e \u003cp\u003eMajor Risk Categories.\u003c\/p\u003e \u003cp\u003eLiquidity Risk.\u003c\/p\u003e \u003cp\u003eHigh Watermark Risk.\u003c\/p\u003e \u003cp\u003eConcentration Risk.\u003c\/p\u003e \u003cp\u003eOperational Risk.\u003c\/p\u003e \u003cp\u003eLiquidity Mismatch Risk.\u003c\/p\u003e \u003cp\u003eTransparency Risk.\u003c\/p\u003e \u003cp\u003eRisk Process.\u003c\/p\u003e \u003cp\u003eLeverage Risk.\u003c\/p\u003e \u003cp\u003eShort Selling Risk.\u003c\/p\u003e \u003cp\u003eReputation Risk.\u003c\/p\u003e \u003cp\u003eSubmerged Risk.\u003c\/p\u003e \u003cp\u003eCounterparty Risk.\u003c\/p\u003e \u003cp\u003eMarket Risk.\u003c\/p\u003e \u003cp\u003eCredit Risk.\u003c\/p\u003e \u003cp\u003eModel Risk.\u003c\/p\u003e \u003cp\u003eComplexity Risk.\u003c\/p\u003e \u003cp\u003eKey Person Risk.\u003c\/p\u003e \u003cp\u003eSensitivity to Assumptions Risk.\u003c\/p\u003e \u003cp\u003eNAV Instability Risk.\u003c\/p\u003e \u003cp\u003eDerivatives Risk.\u003c\/p\u003e \u003cp\u003eSummary.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6. You Only Find out Who Is Swimming Naked When the Tide Goes Out.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLook Behind the Numbers.\u003c\/p\u003e \u003cp\u003eFilling out the DDQ.\u003c\/p\u003e \u003cp\u003eForm ADV Part II.\u003c\/p\u003e \u003cp\u003eFund Brochures and Documents.\u003c\/p\u003e \u003cp\u003ePlanning the On-Site Visit.\u003c\/p\u003e \u003cp\u003eSummary.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7. Let the Games Begin.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Due Diligence Process.\u003c\/p\u003e \u003cp\u003eThe Process.\u003c\/p\u003e \u003cp\u003eExamining the Organization.\u003c\/p\u003e \u003cp\u003ePreparing for the On-Site Visit.\u003c\/p\u003e \u003cp\u003ePreparing the Final Evaluation.\u003c\/p\u003e \u003cp\u003eIn Conclusion.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8. Getting Ready is the Secret to Success.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePortfolio Construction.\u003c\/p\u003e \u003cp\u003eTop-Down Strategy Analysis.\u003c\/p\u003e \u003cp\u003eBottom-up Manager Analysis.\u003c\/p\u003e \u003cp\u003eTest or Model the Portfolio.\u003c\/p\u003e \u003cp\u003ePortfolio Optimization.\u003c\/p\u003e \u003cp\u003eSummary.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9. Navigating Buyers Remorse.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIt's Always Darkest Before It Goes Completely Black.\u003c\/p\u003e \u003cp\u003eLong Term Capital Management: Poor Diversification and High Leverage Are a Dangerous Combination.\u003c\/p\u003e \u003cp\u003eBayou Group, LLC: Due Diligence is a Must.\u003c\/p\u003e \u003cp\u003eWood River Capital Management: A Lack of Experience and Auditing.\u003c\/p\u003e \u003cp\u003eMotherRock: The Liquidity Squeeze in a Small Market Will End Badly When Volatility Increases.\u003c\/p\u003e \u003cp\u003eAmaranth: Liquidity and Concentrated Portfolios Can Drag a Fund down as Trend of Any Trade Eventually Reverses.\u003c\/p\u003e \u003cp\u003eRecent Events: Ospraie Fund.\u003c\/p\u003e \u003cp\u003eYour Final Exam.\u003c\/p\u003e \u003cp\u003eApplying Your Education.\u003c\/p\u003e \u003cp\u003eThe Importance of Second Acts.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10. Monitoring Your Flock.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eI Walk in the Valley Darkness, I Fear No Evil.\u003c\/p\u003e \u003cp\u003eEveryone's Favorite Metric: Performance.\u003c\/p\u003e \u003cp\u003ePortfolio Exposures.\u003c\/p\u003e \u003cp\u003ePerformance Trends.\u003c\/p\u003e \u003cp\u003ePeer Group Analysis.\u003c\/p\u003e \u003cp\u003eStrategy Reviews.\u003c\/p\u003e \u003cp\u003eFund Size and Performance Impact.\u003c\/p\u003e \u003cp\u003eManagement and Personnel Reviews.\u003c\/p\u003e \u003cp\u003eThird Party Vendors.\u003c\/p\u003e \u003cp\u003eRegulatory and Legal Risk.\u003c\/p\u003e \u003cp\u003eBusiness Continuity Risk.\u003c\/p\u003e \u003cp\u003eA Final Word on Monitoring.\u003c\/p\u003e \u003cp\u003eAppendix A. Sample Investment Policy Statement.\u003c\/p\u003e \u003cp\u003eInvestment Policy Statement for Wilmington Family Office.\u003c\/p\u003e \u003cp\u003eI. Statement of Investment Objectives.\u003c\/p\u003e \u003cp\u003eII. Asset Allocation \u0026amp; Rebalancing.\u003c\/p\u003e \u003cp\u003eIII. Guidelines for the Selection of Fixed-Income Securities.\u003c\/p\u003e \u003cp\u003eIV. Guidelines for Selection of Equity Investments.\u003c\/p\u003e \u003cp\u003eV. Standards of Performance.\u003c\/p\u003e \u003cp\u003eVI. Selection of Managers.\u003c\/p\u003e \u003cp\u003eVII. Responsibilities of Managers.\u003c\/p\u003e \u003cp\u003eAppendix B. Sample ADV Part II with ADV Schedule F.\u003c\/p\u003e \u003cp\u003eAppendix C. Hedge Fund Manager Due Diligence Questionnaire.\u003c\/p\u003e \u003cp\u003eI. Background.\u003c\/p\u003e \u003cp\u003eII. Investment Process, Strategy, and Philosophy.\u003c\/p\u003e \u003cp\u003eIII. Business Plans.\u003c\/p\u003e \u003cp\u003eIV. Manager Selection and Research.\u003c\/p\u003e \u003cp\u003eV. Manager Monitoring and Risk Management.\u003c\/p\u003e \u003cp\u003eVI. Performance and Fees.\u003c\/p\u003e \u003cp\u003eVII. Compliance and Client Reporting.\u003c\/p\u003e \u003cp\u003eVIII. Personnel.\u003c\/p\u003e \u003cp\u003eIX. Operations and Administration.\u003c\/p\u003e \u003cp\u003eX. Taxes.\u003c\/p\u003e \u003cp\u003eXI. Performance (See Attached – Appendix 6).\u003c\/p\u003e \u003cp\u003eAttachments.\u003c\/p\u003e \u003cp\u003eAppendix D. U.S. Equity Long\/Short Managers.\u003c\/p\u003e \u003cp\u003eProposal Questionnaire.\u003c\/p\u003e \u003cp\u003eA. Organization.\u003c\/p\u003e \u003cp\u003eB. Investment Professionals (Product Specific).\u003c\/p\u003e \u003cp\u003eC. Investment Philosophy and Process.\u003c\/p\u003e \u003cp\u003eD. Trading Process and Systems.\u003c\/p\u003e \u003cp\u003eE. Performance.\u003c\/p\u003e \u003cp\u003eF. Composite\/Product Information.\u003c\/p\u003e \u003cp\u003eG. References.\u003c\/p\u003e \u003cp\u003eBibliography.\u003c\/p\u003e \u003cp\u003eChapter 1.\u003c\/p\u003e \u003cp\u003eChapter 2.\u003c\/p\u003e \u003cp\u003eChapter 3.\u003c\/p\u003e \u003cp\u003eChapter 4.\u003c\/p\u003e \u003cp\u003eChapter 5.\u003c\/p\u003e \u003cp\u003eChapter 6.\u003c\/p\u003e \u003cp\u003eChapter 7.\u003c\/p\u003e \u003cp\u003eChapter 8.\u003c\/p\u003e \u003cp\u003eChapter 9.\u003c\/p\u003e \u003cp\u003eChapter 10.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20\u0026amp;%20accounting%20%5BKF%5D%22\"\u003eKF\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52257181925656,"sku":"9780470197592","price":42.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9780470197592.jpg?v=1781277990","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/managing-hedge-fund-managers-quantitative-and-qualitative-performance-measures-hardback-9780470197592","provider":"Freshly Printed Books","version":"1.0","type":"link"}