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1、街上的那些基金川的策略总是让我们感到无比神奇，或者说很是遥远，wilmott论坛上有个帖子说了这个事情，很多事情说明白了就没有那么神秘了,不过只是一个list,没有具体的用法,当然没有谁吧自己赚钱的所有东两都说出來，不过看看也大概知道quant®终应用是个什么样的了。Therearemanydifferentwaystoclassifythestrategies,soitmayperhapsbebesttostartwithsomeofthecommonlyrecognizedcategorieswhicharetrackedbyHFRi
2、ndexes（secHedgeFundResearch）:-ConvertibleArbitrage:（可转换债券套利）Ahotareaforquantsafewyearsback,thisstrategyfindsandcxploitsmispricingsinconvertiblebondsagainstthecomponentstheybreakupinto.Atypicalexampleisbuyinganundervaluedconvert,hedgingthecreditandinterestraterisk,thenisol
3、atingtheequityoptionssothatitcanbeeitherbesoldordeltahedgedforcheapvega/gammaexposure.Calamoswrotethebookonthissubject.-DistressedDebt:（不良债权）Thesefundstradethedebtofbankrupt,near-bankrupt,andrestructuringcompanies,abitpastthehorizonofwhatastereotypicalhigh-yieldmutualfund
4、mightcover.Thegoalistobuydebtforpenniesonthedollarforareasonableassuranccofgettingnickelsonthedollar,orshortingsecuritieswhosedoomhasnotbeenfullypricedinyet.-Long/ShortEquity:（交易获利）HERdividesthisgroupinto"EquityHedge"and"EquityMarketNeutral，z,butthislargestandprobablymost
5、generalgroupofmanagersdojustaboutanythingthatinvolvesbuyingsomestocks/indexesandshortingothers.Intheory,theseweresupposedtobemarketneutral（buythealpha,canceloutthebeta）fundsoutthereenforcingpriceefficiency,butreallong/shortfundsareoftennetlong，netshort,andsometimescomplet
6、elylongorshort・-Event-Dtiven:（事件获利）"EventDriven"typicallyreferstofundsthatspecializeinbettingoncertaintypesofcorporateevents,betheyM&A,FDArulings,newtechnologystoties,orjustaboutanythingyoumighthearaboutonCNBCaccompaniedbyadouble-digitmoveinastockprice.Often，thesemayberun
7、byexpertsinafield（forexample,formerbiochemistsfollowingdrugstocks）,butnolalways.-GlobalMacro（宏观套利）:mdubuque"scall'sonBush"sfiscalpolicyandthecollapseoftheUSeconomywouldfitrightinhere,aswouldSoros"sbilliondollarP&Lfromthesterling"sfallintheearly90’s.Theideaistoseetheworldt
8、op-downandbethefirsttoprofitwhentransoceanicdamnsbreak.-Merger/RiskArbitrage:（并购套利）Thisisabitofa
