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The Journal of Wealth Management

The Journal of Wealth Management

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Primary Article

Integrating Hedge Funds into the Traditional Portfolio

Harry M. Kat
The Journal of Wealth Management Spring 2005, 7 (4) 51-57; DOI: https://doi.org/10.3905/jwm.2005.470615
Harry M. Kat
A professor of risk management and director of the Alternative Investment Research Centre at Cass Business School, City University in London.
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Abstract

In this summary article, the author shows how investors can neutralize the unwanted skewness and kurtosis effects from investing in hedge funds by 1) purchasing out-of-the-money equity puts, 2) investing in managed futures, and/or by 3) overweighting equity market neutral and global macro and avoiding distressed securities and emerging market funds. The analysis suggests that all three alternatives are up to the job but also come with their own specific price tag.

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The Journal of Wealth Management
Vol. 7, Issue 4
Spring 2005
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Integrating Hedge Funds into the Traditional Portfolio
Harry M. Kat
The Journal of Wealth Management Jan 2005, 7 (4) 51-57; DOI: 10.3905/jwm.2005.470615

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Integrating Hedge Funds into the Traditional Portfolio
Harry M. Kat
The Journal of Wealth Management Jan 2005, 7 (4) 51-57; DOI: 10.3905/jwm.2005.470615
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