Course curriculum

  • 1. Hedge Fund Classification

    • 1.1 Introduction

    • 1.2 Directional Strategies

    • 1.3 Relative Value Strategies

    • 1.4 Event-Driven Strategies

  • 2. Directional Strategies

    • 2.1 Global Macro

    • 2.2 Managed Futures

    • 2.3 Equity Long-Short

    • 2.4 Dedicated Shorts

  • 3. Relative Value Strategies

    • 3.1 Convertible Arbitrage

    • 3.2 Fixed Income Arbitrage

    • 3.3 Equity Market Neutral

    • 3.4 Volatility Arbitrage

  • 4. Event-Driven Strategies

    • 4.1 Merger Arbitrage

    • 4.2 Distressed Securities

  • 5. Multi-Strategies Hedge Funds and Funds-of Hedge Funds

    • 5.1 Multi-Strategies Hedge Funds

    • 5.2 Funds-of Hedge Funds

  • 6. Performance of Various Hedge Funds Strategies

    • 6.1 Statistical Moments

    • 6.2 Performance of Directional Strategies

    • 6.3 Performance of Relative Value Strategies

    • 6.4 Performance of Event-Driven Strategies

    • 6.5 Performance of Funds-of-Hedge Funds

  • 7. Why Invest in Hedge Funds?

    • 7.1 Rationale for Including Hedge Funds in a Diversified Portfolio

  • 8. Let’s Examine the Claims!

    • 8.1 Alpha vs. Beta

    • 8.2 Fat Tails

    • 8.3 Asymmetric Returns

    • 8.4 Sharpe Ratio

    • 8.5 Hedge Fund Diversification is Not a Free Lunch!

  • 9. Assessment

    • Instructions

    • Questions