UNDERSTANDING ALTERNATIVE INVESTMENTS
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UNDERSTANDING
ALTERNATIVE
INVESTMENTS
CREATING DIVERSIFIED PORTFOLIOS THAT
RIDE THE WAVE OF INVESTMENT SUCCESS
STEPHEN TODD WALKER
INTRODUCTION: THAT WAS
THEN, THIS IS NOW
Alternative investments can be defi ned as any asset class or investment
other than equities, bonds, or cash. Diversifi cation can lead to alternative
investments as obscure as coins, diamonds, comic books, rare earth, art,
or even wine. One of my goals in writing my fi rst book, Wave Theory for
Alternative Investments: Riding the Wave with Hedge Funds, Commodities,
and Venture Capital , was to help educate anyone interested in alternative
investments, whether they are institutional investors, high net worth cli-
ents, wealth managers, fi nancial advisors, fi nancial planners, consultants,
professors, trainees, or students. I would like investors to simply know more
about the exciting world of alternative investments. Besides this profes-
sional or institutional audience, many others have expressed an avid inter-
est in learning more about alternative investments. The world of fi nancial
products for alternative investments is rapidly expanding and the number
of choices is substantial. In the past, the vast majority of research concern-
ing investments has been focused primarily on equities and fi xed income.
However, times have changed and so has the investment process, which
has evolved to include alternative investments. It is my fi rm belief that vir-
tually any asset allocation model should include alternative investments.
As authors Bodie, Kane, and Marcus explain in The Investment Process in
Investments , “Investment assets can be categorized into broad asset classes,
such as stocks, bonds, real estate, commodities, and so on.”
Understanding Alternative Investments covers how alternatives work and why it might be
wise for an investor to consider adding them to their portfolio. Essentially,
alternative investments can be utilized to build better investment portfo-
lios with less risk and higher returns if done in a prudent fashion
ALTERNATIVE
INVESTMENTS
CREATING DIVERSIFIED PORTFOLIOS THAT
RIDE THE WAVE OF INVESTMENT SUCCESS
STEPHEN TODD WALKER
INTRODUCTION: THAT WAS
THEN, THIS IS NOW
Alternative investments can be defi ned as any asset class or investment
other than equities, bonds, or cash. Diversifi cation can lead to alternative
investments as obscure as coins, diamonds, comic books, rare earth, art,
or even wine. One of my goals in writing my fi rst book, Wave Theory for
Alternative Investments: Riding the Wave with Hedge Funds, Commodities,
and Venture Capital , was to help educate anyone interested in alternative
investments, whether they are institutional investors, high net worth cli-
ents, wealth managers, fi nancial advisors, fi nancial planners, consultants,
professors, trainees, or students. I would like investors to simply know more
about the exciting world of alternative investments. Besides this profes-
sional or institutional audience, many others have expressed an avid inter-
est in learning more about alternative investments. The world of fi nancial
products for alternative investments is rapidly expanding and the number
of choices is substantial. In the past, the vast majority of research concern-
ing investments has been focused primarily on equities and fi xed income.
However, times have changed and so has the investment process, which
has evolved to include alternative investments. It is my fi rm belief that vir-
tually any asset allocation model should include alternative investments.
As authors Bodie, Kane, and Marcus explain in The Investment Process in
Investments , “Investment assets can be categorized into broad asset classes,
such as stocks, bonds, real estate, commodities, and so on.”
Understanding Alternative Investments covers how alternatives work and why it might be
wise for an investor to consider adding them to their portfolio. Essentially,
alternative investments can be utilized to build better investment portfo-
lios with less risk and higher returns if done in a prudent fashion
