what_is_a_hedge_fund

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1、AboutHedgeFundsWhatisaHedgeFund?Ahedgefundisafundthatcantakebothlongandshortpositions,usearbitrage,buyandsellundervaluedsecurities,tradeoptionsorbonds,andinvestinalmostanyopportunityinanymarketwhereitforeseesimpressivegainsatreducedrisk.Hedgefundstrategiesvaryenormously--manyhedgeag

2、ainstdownturnsinthemarkets--especiallyimportanttodaywithvolatilityandanticipationofcorrectionsinoverheatedstockmarkets.Theprimaryaimofmosthedgefundsistoreducevolatilityandriskwhileattemptingtopreservecapitalanddeliverpositivereturnsunderallmarketconditions.Thereareapproximately14dis

3、tinctinvestmentstrategiesusedbyhedgefunds,eachofferingdifferentdegreesofriskandreturn.Amacrohedgefund,forexample,investsinstockandbondmarketsandotherinvestmentopportunities,suchascurrencies,inhopesofprofitingonsignificantshiftsinsuchthingsasglobalinterestratesandcountries’economicpo

4、licies.Amacrohedgefundismorevolatilebutpotentiallyfastergrowingthanadistressed-securitieshedgefundthatbuystheequityordebtofcompaniesabouttoenterorexitfinancialdistress.Anequityhedgefundmaybeglobalorcountryspecific,hedgingagainstdownturnsinequitymarketsbyshortingovervaluedstocksorsto

5、ckindexes.Arelativevaluehedgefundtakesadvantageofpriceorspreadinefficiencies.Knowingandunderstandingthecharacteristicsofthemanydifferenthedgefundstrategiesisessentialtocapitalizingontheirvarietyofinvestmentopportunities.Itisimportanttounderstandthedifferencesbetweenthevarioushedgefu

6、ndstrategiesbecauseallhedgefundsarenotthesame--investmentreturns,volatility,andriskvaryenormouslyamongthedifferenthedgefundstrategies.Somestrategieswhicharenotcorrelatedtoequitymarketsareabletodeliverconsistentreturnswithextremelylowriskofloss,whileothersmaybeasormorevolatilethanmut

7、ualfunds.Asuccessfulfundoffundsrecognizesthesedifferencesandblendsvariousstrategiesandassetclassestogethertocreatemorestablelong-terminvestmentreturnsthananyoftheindividualfunds.•Hedgefundstrategiesvaryenormously–many,butnotall,hedgeagainstmarketdownturns–especiallyimportanttodaywit

8、hvolatilityandantic