Hedge Funds, Private Credit, and Private Markets
Free GARP FRM Part II lesson in Risk Management and Investment Management. 23 min read, ~3,398 words.
Hedge fund strategies divide into equity (long-short, market neutral, dedicated short), event-driven (merger arb, distressed, activist), macro (global macro, managed futures), and arbitrage (convertible, fixed-income, statistical). Convertible arb is positive carry, positive gamma, short credit spread (it earns from volatility); merger arb is positive carry with deal-break tail risk (it...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
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