Do alternative alpha & beta exist?

Ray Carroll, Ph.D., CFA, Peter Gruber and Elizabeth Carey

• Definitions of alpha, beta, “alternative alpha”, alternative beta
• Strategies associated with alpha, “alt-alpha”; beta, alt.- beta
• Investment Opportunities
• Place in a modern portfolio
• Risks/rewards associated with such strategies

Date of webinar: 16. Jul. 2009 9am NY time and 15.00 Swiss time

Biography of Author:

• Elizabeth Carey, Managing Director, Clontarf Capital
  Began her career in 1985 at Lehman Brothers, working in corporate finance and fixed income in New York. Moved to London in 1996 to develop Lehman's European asset-backed finance business. Joined Goldman Sachs in 1997 and ran structured finance team within Debt Capital Markets before shifting into leveraged finance. In 2003 joined GE Commercial Finance to focus on acquisitions of European financial services companies and asset portfolios. Left GE in mid-2008 and joined Clontarf Capital, an advisory boutique specialising in alternative investments.

• Peter Gruber, Research Associate at the Università dalla Svizzera Italiana in Lugano
  Peter studied particle physics at the University of Technology, Vienna, from which he obtained a PhD in 2001. He worked for four years at CERN in Geneva on a future "Neutrino Factory", first during this PhD thesis and subsequently as a CERN fellow. He then switched careers and obtained an master's degree in quantitative economics from the Univeristy of St. Gallen. He currently works as a research associate at the Università dalla Svizzera Italiana in Lugano and teaches quantitative finance in St. Gallen. His research interests include the role of various risk factors, especially in option pricing.

• Ray Carroll, CIO of the DGAM Mosaic Multi- Strategy Fund
  Ray is Chief Investment Officer of the DGAM Mosaic Fund, a multi-strategy fund designed to tactically capture opportunities in liquid markets through bottom-up, quantitative analysis. He is instrumental in the development of the firm’s strategic views on market opportunities, particularly focusing on strategy research, portfolio construction, and risk management. Prior to joining the firm, Mr. Carroll was a Vice President with RBC Capital Markets, where he was responsible for developing, structuring, and implementing risk management solutions for corporate clients, and for providing senior risk oversight of the firm’s trading book. Mr. Carroll holds a Ph.D. in Mathematics and is a CFA Charterholder.

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