By Donald R. Chambers, Mark J. P. Anson, Visit Amazon's Keith H. Black Page, search results, Learn about Author Central, Keith H. Black, , Hossein Kazemi, CAIA Association
The authentic CAIA point 1 curriculum book
Alternative Investments: CAIA point I, third variation is the curriculum booklet for the Chartered substitute funding Analyst (CAIA) point I specialist exam. masking the basics of the choice funding area, this ebook is helping you construct a beginning in alternative funding markets. you will glance heavily on the varieties of hedge fund thoughts and the variety of records used to outline funding functionality as you achieve a deep familiarity with substitute funding phrases and improve the computational skill to resolve funding difficulties. From procedure features to portfolio administration recommendations, this ebook includes the middle fabric it is important to prevail at the CAIA point I examination. This up to date 3rd version tracks to the most recent model of the examination, and is observed by way of the subsequent ancillaries: a workbook, examine advisor, studying targets, and an ethics handbook.
Most funding analyst education schemes concentration totally on the conventional asset periods, pushing substitute investments to the sidelines. The CAIA designation used to be constructed in keeping with the super progress of other making an investment, and is the industry's greatest academic average. This ebook is your professional learn better half, bringing you absolutely on top of things on every thing you want to comprehend (with the exception of the ethics fabric lined in a separate handbook).
- Understand the complexities of every substitute asset class
- Learn the quantitative recommendations execs use each day
- Dig into the original elements of different investments
- Master the middle fabric coated by means of the CAIA point I exam
More than three hundred monetary associations and hedge cash have dedicated key executives to the CAIA examination, and this speedily becoming pattern speaks to the designation's emerging prestige as essential credential for a person within the replacement funding sphere. raise your possibilities of good fortune via getting your details directly from the resource in CAIA point I.
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Additional info for Alternative Investments: CAIA Level I
While the categorization helps us understand the spectrum of alternative investments, the various alternative investment categories may overlap. For example, some hedge fund portfolios may contain substantial private equity or structured product exposures and may even substantially alternate the focus of their holdings through time. This being said, the four categories discussed in the previous sections represent the investment types central to the Level I curriculum of the CAIA program. 3 STRUCTURES AMONG ALTERNATIVE INVESTMENTS The previous sections defined the category of alternative investments by describing the investments that are or are not commonly thought of as alternative.
1 Return Computation Methods Return analysis of publicly traded stocks and bonds is relatively straightforward, given the transparency in regularly observable market prices, dividends, and interest payments. Returns to some alternative investments, especially illiquid investments, can be problematic. One major issue is that in many cases, a reliable value of the investment can be determined only at limited points in time. In the extreme, such as in most private equity deals, there may be no reliable measure of investment value at any point in time other than at termination, when the investment’s value is the amount of the final liquidating cash flow.
2 is that structures alter the flows of cash from their underlying source (real assets) to their ultimate recipients (investors). In most corporations, the cash flows from the firm’s assets are divided into debt claims and equity claims by the firm’s capital structure. This is a common and important example of a structure: in this case, a securities structure. Structures define the characteristics of each investment; viewing investments in the context of these structures provides an organized and systematic framework for analysis.
Alternative Investments: CAIA Level I by Donald R. Chambers, Mark J. P. Anson, Visit Amazon's Keith H. Black Page, search results, Learn about Author Central, Keith H. Black, , Hossein Kazemi, CAIA Association