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Risiko- und Performancekennzahlen zur Strategiebewertung von Hedge Fonds

Risiko- und Performancekennzahlen zur Strategiebewertung von Hedge Fonds

          
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About the Book

Hedge Fonds haben sich in den letzten Jahrzehnten von einer Investmentmöglichkeit reicher Privatleute hin zu Investmentgesellschaften mit teils internationalem Einfluss entwickelt. So gehören zu ihrem Kundenkreis mittlerweile auch Versicherungen, Pensionskassen und Stiftungen, während das Eigenkapital in den vergangen Jahren auf bis zu 1.868 Mrd. US $ Ende 2007 gestiegen ist. Im Vergleich zu den Mitteln von beispielsweise Investment- und Pensionsfonds, wirkt diese Zahl jedoch noch relativ gering. So käme man selbst bei Unterstellung eines durchschnittlichen Fremdkapitalhebels von zwei unter Zugrundelegung aktueller Daten auf etwa 2.663 Mrd. US $ Anlagevolumen - etwa ein Siebtel der jeweiligen beiden anderen Anlageklassen. Auf die meisten Menschen wirken diese undurchsichtigen Investmentgesellschaften jedoch beängstigend, was nicht zuletzt durch die zumeist negativen Berichterstattungen der Medien forciert wird. So stehen positiven Berichten über zwei- und sogar dreistellige Renditen über mehrere Jahre Schlagzeilen über die Bedrohung des Finanzsystems entgegen. Noch heute ist vielen die Spekulation des Quantum Fonds gegen das britische Pfund 1992 oder der Zusammenbruch des LTCM Fonds 1998, der massive Interventionen zur Stützung des Finanzsystems bedingte, ein Begriff. Doch auch in letzter Zeit fielen Hedge Fonds der breiten Öffentlichkeit zum Beispiel durch den Betrugsfall von Bernard Madoff und die Involvierung in Spekulationen mit Kreditderivaten auf, die eine der schlimmsten Weltwirtschaftskrisen seit den Dreißigern auslöste. Das vorliegende Buch bietet einen Überblick über ausgewählte Kennzahlen zur Abwägung von Rendite und Risiken von Hedge Fonds. Dabei soll jedoch nicht auf deren Gefahren im weltweiten Wirtschaftssystem, die vor allem von einer sehr geringen Regulierung und teils massivem Fremdkapitaleinsatz ausgehen, eingegangen werden. Es wird insbesondere die These geprüft, dass Hedge Fonds in der Lage sind, höhere Renditen bei geringerem Risiko als traditi


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Product Details
  • ISBN-13: 9783836699686
  • Publisher: Diplomica Verlag Gmbh
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 8 mm
  • Width: 178 mm
  • ISBN-10: 3836699680
  • Publisher Date: 04 Nov 2010
  • Height: 254 mm
  • No of Pages: 148
  • Series Title: German
  • Weight: 267 gr


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