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Market Neutral Strategies by Kenneth N. Levy and Bruce I. Jacobs (2004, Hardcover)

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Bruce Jacobs holds a PhD in finance from the Wharton School of the University of Pennsylvania.

About this product

Product Identifiers

PublisherWiley & Sons, Incorporated, John

ISBN-100471268682

ISBN-139780471268680

eBay Product ID (ePID)2289385

Product Key Features

Book TitleMarket Neutral Strategies

Number of Pages304 Pages

LanguageEnglish

TopicFinance / General, Investments & Securities / Analysis & Trading Strategies, Investments & Securities / General

Publication Year2004

IllustratorYes

GenreBusiness & Economics

AuthorKenneth N. Levy, Bruce I. Jacobs

Book SeriesFrank J. Fabozzi Ser.

FormatHardcover

Dimensions

Item Height1.3 in

Item Weight17.6 Oz

Item Length9.4 in

Item Width6.4 in

Additional Product Features

Intended AudienceTrade

LCCN2005-272967

Dewey Edition21

Series Volume Number112

Dewey Decimal332.6323

Table Of ContentForeword (Mark Anson). Acknowledgments. About the Editors. Contributing Authors. Chapter 1: Introduction (Bruce I. Jacobs and Kenneth N. Levy). Chapter 2: Questions and Answers About Market Neutral Investing (Jane Buchan, Bruce I. Jacobs, and Kenneth N. Levy). Chapter 3: Market Neutral Equity Investing (Bruce I. Jacobs and Kenneth N. Levy). Chapter 4: Convertible Bond Hedging (Jane Buchan). Chapter 5: Sovereign Fixed-Income Arbitrage (John Maltby). Chapter 6: Market Neutral Strategies with Mortgage-Backed Securities (George E. Hall and Seth C. Fischoff). Chapter 7: Merger Arbitrage (Daniel S. Och and Todd C. Pulvino). Chapter 8: Transporting Alpha (Bruce I. Jacobs and Kenneth N. Levy). Chapter 9: A Tale of Two Hedge Funds (Bruce I. Jacobs and Kenneth N. Levy). Chapter 10: Significant Tax Considerations for Taxable Investors in Market Neutral Strategies (Peter E. Pront and John E. Tavss). Chapter 11: Tax-Exempt Organizations and Other Special Categories of Investors: Tax and ERISA Concerns (Peter E. Pront and S. John Ryan). Chapter 12: Afterword (Bruce I. Jacobs and Kenneth N. Levy). GLOSSARY. INDEX.

SynopsisMarket neutral strategies have gained attention for their potential to deliver positive returns regardless of the direction of underlying markets. As these strategies have built a record of good performance in recent years, they have attracted growing interest from both private and institutional investors., An inside view of what makes market neutral strategies tick and how they can be implemented Market neutral strategies have gained attention for their potential to deliver positive returns regardless of the direction of underlying markets. As these strategies have built a record of good performance in recent years, their benefits have become apparent. Market Neutral Strategies draws on the wisdom and experience of professional practitioners to describe strategies that are being utilized by some of today's leading institutional investors. This book provides readers with an insider's view of what makes these strategies work and how they can be implemented successfully. Topics covered include long-short equity and convertibles, fixed income and merger arbitrage; the tax and ERISA implications of market neutral investing; and the failure of two notorious "market neutral" ventures, Askin Capital Management and Long-Term Capital Management. Bruce I. Jacobs (Florham Park, NJ) and Kenneth N. Levy are cofounders and principals of Jacobs Levy Equity Management, in Florham Park, New Jersey. They are coauthors of Equity Management: Quantitative Analysis for Stock Selection. Bruce Jacobs holds a PhD in finance from the Wharton School of the University of Pennsylvania. He is also the author of Capital Ideas and Market Realities: Option Replication, Investor Behavior, and Stock Market Crashes., Praise for Market Neutral Strategies "Elucidates the sources of potential alpha for a breadth of strategies, as well as the origins of prior miscues." Edgar J. Sullivan, Ph.D., CFA, Managing Director, General Motors Asset Management "A comprehensive, thought-leading treatment of market neutral investing." Thomas F. Obsitnik, CFA, Investment Advisor, Eli Lilly and Company "This excellent and highly relevant publication provides practical answers to practical problems." Hans de Ruiter, Senior Portfolio Manager, ABP Investments "A wealth of insights about market neutral investing from a range of real-life practitioners." Rick Harper, Chief Executive Officer, Superannuation Funds of South Australia "Bruce Jacobs and Ken Levy blazed the trail for institutional market neutral investing; now they illuminate it." Richard M. Ennis, CFA, Principal, Ennis Knupp + Associates "Jacobs and Levy handle the complex subject of market neutral investing at a level the intelligent investor will understand." Leola Ross, Ph.D., CFA, Senior Research Analyst, Russell Investment Group "A comprehensive book on market neutral investing, and a roadmap of pitfalls that many would find only by stumbling into them." Robert D. Arnott, Chairman, Research Affiliates, LLC and Editor, Financial Analysts Journal "A comprehensive review of market neutral strategies, drawing on the theoretical and hands-on knowledge of industry experts.", Harry M. Markowitz, 1990 Nobel Laureate in Economics "Anyone who plans to invest in market neutral strategies should read this book." Brian Bruce, Editor-In-Chief, The Journal of Investing "Contains intuitive, informative, and insightful discussions of major market neutral strategies an invaluable resource." Professor Narayan Y. Naik, Director, Centre for Hedge Fund Research and Education, London Business School "Jacobs and Levy are clear, focused, sharp and insightful a must read for any serious investor." Les Balzer, Professor of Finance, The University of New South Wales and Head of Research, Hedge Funds of Australia Limited "A must read. Investors who know how to integrate short positions with long positions are at a major advantage." Edward M. Miller, Research Professor of Economics and Finance, University of New Orleans "Transparency is rare in financial markets, but you will find it in this book. I highly recommend it." Meir Statman, Glenn Klimek Professor of Finance, Santa Clara University "Jacobs and Levy have provided awesome thought leadership. This book gives readers an insider s look at market neutral investing." Wayne H. Wagner, Chairman, Plexus Group, Inc. " Market Neutral Strategies illuminates for the serious investor the techniques, benefits, and risks of various methods of market neutral investing." Edward O. Thorp, Ph.D., Edward O. Thorp Associates, Author of Beat the Dealer, An inside view of what makes market neutral strategies tick and how they can be implemented Market neutral strategies have gained attention for their potential to deliver positive returns regardless of the direction of underlying markets. As these strategies have built a record of good performance in recent years, their benefits have become apparent. Market Neutral Strategies draws on the wisdom and experience of professional practitioners to describe strategies that are being utilized by some of today's leading institutional investors. This book provides readers with an insider's view of what makes these strategies work and how they can be implemented successfully. Topics covered include long-short equity and convertibles, fixed income and merger arbitrage; the tax and ERISA implications of market neutral investing; and the failure of two notorious market neutral ventures, Askin Capital Management and Long-Term Capital Management. Bruce I. Jacobs (Florham Park, NJ) and Kenneth N. Levy are cofounders and principals of Jacobs Levy Equity Management, in Florham Park, New Jersey. They are coauthors of Equity Management: Quantitative Analysis for Stock Selection. Bruce Jacobs holds a PhD in finance from the Wharton School of the University of Pennsylvania. He is also the author of Capital Ideas and Market Realities: Option Replication, Investor Behavior, and Stock Market Crashes.

LC Classification NumberHF6001