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2. Alternative Investments: Definitions, Similarities, and Contrasts
3. Real Estate
4. Private Equity/Venture Capital
5. Commodity Investments
6. Hedge Funds
7. Managed Futures
8. Distressed Securities
LOS25.a describe common features of alternative investments and their markets and how alternative investments may be grouped by the role they typically play in the portfolio.
2 Alternative Investments: Definitions, Similarities, and Contrasts
① Common features of AIs and their markets(Traditional stock and bond투자 대비)
High due diligence cost
Difficult performance appraisal(because of the complexity of establishing valid BMs)
Informationally less efficient market