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Alternative Investments

Descrizione

Prerequisites
Basic finance, basic math

Objectives

Understand different categories of alternative investments, such as hedge funds, commodities, credit derivatives, private equity, venture capital and real estate.

Description / Program

This course provides both a theoretical and practical look into the world of managing alternative investments such as hedge funds, commodities, private equity, venture capital, LBOs. With regards to hedge funds we will focus on their strategies, including market neutral investing, statistical arbitrage and derivatives arbitrage. Topics include hedge fund compensation, performance evaluation, risk management, including operational risk, and the role of arbitrageurs in the capital market. In terms of commodities we discuss various instruments to invest in commodities and discuss the emergence of commodities as an asset class. Furthermore, we discuss the basics of venture capital investments and the different stages of the investment process. We look at valuations of VC and PE investments and discuss simple examples and case studies illustrating how returns are generated by VC and PE funds. Finally, we also discuss real estate as an asset class and consider how real estate investments are a worthwhile addition to a diversified investment portfolio.

Learning Method / Style of Lessons
Lectures and in-class exercises

Exam Style
Final exam (closed book) and group presentations

Readings/Textbooks

Mark J. P. Anson, Handbook of Alternative Assets, John Wiley & Sons (2006)

 

Andrew W. Lo, Hedge Funds: An Analytic Perspective, Princeton University Press (2010)

 

Lecture slides

Persone

 

Mueller P.

Docente titolare del corso

Informazioni aggiuntive

Semestre
Autunnale
Anno accademico
2019-2020
ECTS
3
Lingua
Inglese
Offerta formativa
Master of Science in Economics and Communication in Financial Communication, Corso a scelta, Corso a scelta, 2° anno

Master of Science in Economics in Finance, Corso obbligatorio, Minor in Digital Finance, 2° anno

Master of Science in Economics in Finance, Corso a scelta, Minor in Banking and Finance, 2° anno

Master of Science in Economics in Finance, Corso obbligatorio, Minor in Quantitative Finance, 2° anno