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Private equity investment in technologies which deliver low carbon energy has grown as an area of both economic and social performance. This article offers a perspective on some of the challenges in the industry. It relies on case studies drawn...
Knowledge Center
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Curriculum
 | The new CAIA Knowledge Series: a comprehensive collection of texts written specifically for the CAIA program. |
Recent Resources
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Journal of Alternative Investments. 2011.Vol. 14, no. 1, pp. 40-49.This article addresses the debate regarding the role of index funds in commodity futures markets. Many have argued that index funds are speculators that are responsible for bubbles in commodity futures prices. The argument is based on the premise...
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Journal of Alternative Investments. 2011.Vol. 14, no. 1, pp. 26-39.This article considers one of the most significant regulatory concerns facing derivatives markets: the case of market manipulation by means of a corner, or “squeeze.” There are many famous examples of squeezes dating back to the very origins of...
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Journal of Alternative Investments. 2011.Vol. 14, no. 1, pp. 10-25.One of the best-known and largest hedge fund failures was the 2006 failure of Amaranth Advisors, LLC. The authors use detailed, trader-level data to examine the role of speculators during times of financial distress—in this case, the failure of...
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Journal of Alternative Investments. 2011.Vol. 13, no. 4.Questions of distributive justice in risk management arise with varying intensity in different market settings. This article argues that perfect financial markets provide a context in which questions of distributive justice are seldom salient. In...
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Journal of Alternative Investments. 2011.Vol. 13, no. 4.This article examines the hedge fund and hedge fund manager characteristics that lead certain hedge fund managers to select quality auditors. Specifically, using a unique measure of audit quality, the author tests whether hedge fund managers with...
Journal of Alternative Investments
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Infrastructure is regularly considered a natural hedge against inflation due to its monopolistic pricing power, the favorable regulatory regimes, and the limited operating cost exposure. In contrast to this often cited yet not empirically...
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Shipping, although a crucial component of the transportation of commodities worldwide, is hardly present in the finance literature at this point. The first and foremost goal of this article is to describe and explain from an economic perspective the...
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In this article, the authors design a new trading strategy by using cointegration as a measure of long-term dependencies. They show that the theoretical expected return of this strategy is always positive and illustrate it with four exchange traded...
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This article introduces the concept of asymmetric hedge fund replication based on the risk factor model approach. The presented methodology is founded on downside risk management and offers an enhancement of existing hedge fund replication...
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Hedge funds are frequently blamed for increasing volatility and illiquidity in financial markets. The author investigates the validity of this hypothesis by modeling the joint dynamics of hedge fund returns and volatility as well as illiquidity in...