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This column was authored by Thomas Schneeweis, PhD, Michael and Cheryl Philipp Professor of Finance at the Isenberg School of Management at the University of Massachusetts in Amherst, Massachusetts and founding Director of the Center for International Securities and Derivatives Markets (CISDM) at the Isenberg School of Management at the University of Massachusetts. Dr. Schneewis is also a founding Board Member of the Chartered Alternative Investment Analyst Association and the founding Editor of the Journal of Alternative Investments.
As an academic and investment practitioner who has spent a major part of his career in the alternative investment area, I have been intrigued and amazed at the sudden attention given to the often-misunderstood alternative investment industry. Generally glossed over in mainstream media, recent events have suddenly refocused the economic limelight onto this sector and its impact on financial markets in particular and the economy at large.
Both in the public press, industry reports, and academic research, questions are being raised as to the fundamental basis for a wide range of alternative investments and their place in the modern investor's portfolio. Often one reads or hears that many alternative investments, such as hedge funds, commodity investments, and private equity, are simply "too risky" or "too complicated" for either the individual or institutional investor.
But is the problem inherent in the investment vehicles, or...................... To view our full article Click here
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