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I manage portfolios of alternative ETFs. As a former hedge fund manager of my own hedge fund firm, former chief investment officer of several large investment organizations, and former director of quantitative research, my background has well prepared me for this exciting new niche. I believe that most investors need more diversification than they have, and that alternative ETFs provide a new and better way of getting it because of their low cost and their liquidity.
- Description: Registered Investment Advisor (RIA). Trading frequency: Daily
- Interests: ETFs
Select Alternative Investments LLC Our mission is to help institutions and individuals with their alternative investments by providing them with an attractive absolute return that will diversify their stock and bond holdings. By using low-cost ETFs, we seek to provide a high degree of performance value-added at a reasonable cost compared to ...More
the usual methods of investing in alternatives. We believe that investing in stocks and bonds using a buy-and-hold approach is not likely to achieve the returns that most investors expect based upon their experience over the past 30 years—the returns are likely to be lower and the volatility higher than expected. Thus, diversification of stock and bond investments will become even more important. Likewise, a buy-and-hold approach to investing broadly in alternatives is likely to disappoint. Many forms of alternative investment, including most hedge funds, have a high correlation to stocks and bonds and mediocre returns after costs. Opportunistically investing in only the most attractive strategies at the right time is the optimal approach, we believe. What makes a strategy “attractive” in our view? One that exploits a market inefficiency and/or harvests an “alternative beta”—that is, a return to compensate investors for risks that are different from the usual risks of investing in stocks and bonds. When is the “right time” to invest in such strategies? When their expected returns are higher than usual and/or their expected volatility is lower than usual. We have proprietary risk and return models that help us in making these assessments.
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