Hedge Fund Risk Fundamentals: Solving the Risk Management and Transparency Challenge - Softcover

Horwitz, Richard

Softcover

ISBN 10: 1576602575 ISBN 13: 9781576602577

Publisher: Bloomberg Pr, 2007

Synopsis

In the constantly evolving hedge fund marketplace, nothing is more central?but in many ways, more amorphous and elusive?than risk. Yet there remains no standard for analyzing and measuring risk within this highly secretive, largely unregulated field, leaving the thousands of hedge funds?and the tens of thousands of hedge fund investors?in dangerously dim light. Hedge Fund Risk Fundamentals is the first book to bring these issues to the forefront. With clarity, concision, and minimal math, Richard Horwitz lays out the key components and the cutting-edge processes in the field of hedge fund risk management today. Against that backdrop he presents a groundbreaking utility destined to set the standard for transparency and risk management within the hedge fund universe.

About this title

About the Author

Richard Horwitz is managing director of manager assessment and risk management of Merrill Lynch's Hedge Fund Development and Management Group (HFDMG). He has implemented Risk Fundamentals, a proprietary risk transparency and management system. The system is risk factor based, permitting underlying funds to provide structural risk transparency without requiring position disclosure and for this transparency to be used to provide a fundamental understanding of each underlying fund and to construct risk-efficient portfolios of funds. Previously, Horwitz was senior vice president and director of risk management and investment analytics at Kenmar Global Investment Management Inc., a $2 billion fund of funds. He gained his fundamental knowledge of hedge funds as a principal at Capital Market Risk Advisors, Inc., the boutique risk management consulting firm. Horwitz had previously been a buy-side senior equity analyst at Sanford C. Bernstein & Co. and a consultant in financial services at Booz Allen Hamilton Inc. He earned an MS in management (Sloan School) and a BS in electrical engineering from the Massachusetts Institute of Technology. Horwitz has also written numerous articles on hedge funds.

From the Back Cover

BLOOMBERG PROFESSIONAL LIBRARY

“An abundance of helpful information … written with commendable clarity”
―Financial Analysts Journal

“An excellent overview of the risks that hedge fund managers take”
―GARP (Global Association of Risk Professionals) Risk Review

“Provides an innovative and pragmatic solution to the key transparency issue”
―PIERRE JETTÉ, MBA, CFA, Vice President, International Equities CDP Capital

“A must-read for neophytes and the newly indoctrinated to risk on derivatives … and also a great refocuser for risk professionals”
―ROBERT M. AARON, CEO, DPM Mellon Chairman of the Board, Managed Funds Association

In the hedge fund marketplace, nothing is more central than risk. Yet there remains no standard for analyzing and measuring risk within this largely unregulated field, leaving the thousands of hedge funds―and the tens of thousands of hedge fund investors―in dangerously dim light. The industry has not solved the “transparency” challenge―communicating risk to investors without disclosing proprietary information.

Hedge Fund Risk Fundamentals is the first book to bring these issues to the forefront. With clarity, concision, and minimal math, Richard Horwitz lays out the key components and the cutting-edge processes in the field of hedge fund risk management today.

Edition details

• Publisher: Bloomberg Pr
• Publication date: 2007
• Language: English
• ISBN 10: 1576602575
• ISBN 13: 9781576602577
• Binding: Paperback
• Number of pages: 275