| 09.04.2009 Other Voices: Liquidity: Volatility analogs, how to compare hedge funds with different redemption frequencies |
| This article was authored by Bryan Goh, First Avenue Partners LLP, London. In 2008, investors quickly became acquainted with the concept of liquidity, or the lack of it. But what do we mean by liquidity, and how do we price it? Liquidity premia are already priced in some markets such as the treasury market where the spread between on and off the runs is the implied liquidity premiu |
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