Davide Tait
All courses

Module 4 · Coming soon

Hedge Funds

Absolute return, exposure maths and telling alpha apart from beta.

9 episodes2h 45mEntry · Intermediate · Advanced
Course on The Alternatives
Hedge Funds

Hedge fund is a fee structure, not a strategy. The only question that matters is what you are actually being paid for.

You learn to decompose returns into alpha and beta, read exposure reports properly and understand how tail hedges are built and what they cost.

What you will learn

  • Understand high water marks, lockups and 2 and 20 economics
  • Read gross and net exposure and know why both matter
  • Distinguish directional from market neutral strategies
  • Run factor attribution and evaluate tail risk hedging

Episode curriculum

Entry

  1. The absolute return concept16m
  2. High water marks and lockups17m
  3. 2 and 20 and what it really costs18m

Intermediate

  1. Gross versus net exposure20m
  2. Long short construction23m
  3. Directional versus market neutral21m

Advanced

  1. Alpha and beta decomposition27m
  2. Factor attribution in practice26m
  3. Tail risk hedging mechanics28m